Cardano (ADA) Investors Grapple with Significant Losses: 80% Out of the Money

Vignesh Karunanidhi
Cardano (ADA) Investors Grapple with Significant Losses: 80% Out of Money
Source: Crypto News Flash

Gerolamo Cardano, an Italian polymath, inspired the development of the Cardano token, which debuted in 2017. Charles Hoskinson, the creator of Cardano, revealed details about the Alonzo hard fork in August 2021. Cardano has come a long way since its inception. ADA hit an all-time high of $3.0992 on September 2, 2021. However, it has plummeted by 88% since then, putting the Cardano (ADA) Investors who entered the ADA ecosystem during that time at a loss.

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According to the latest data from IntoTheBlock, 80% of Cardano holders are currently at a loss.

80% of ADA holders are at a loss

The data reveals that 80% of the Cardano holders are “out of the money.” This means that almost 3.44 million ADA addresses, which include a total of 26.85 billion ADA, are at a loss. According to current prices, this equates to almost $9.48 billion in value.

IntoTheBlock data shows that most of the losses are for Cardano (ADA) investors who bought ADA between $0.374 and $0.456 per ADA. These addresses currently stand at 743,560, with 13 billion in holdings.

CoinMarketCap data reveal that ADA is trading at $0.37 at press time, with a 1% drop in value over the last 24 hours.