Cardano (ADA) Investors Struggle With 3.1 Million Addresses in Losses

Vignesh Karunanidhi
Cardano Weekend Price Prediction: How High Can ADA Surge?
Source: Capital.com

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, 3.12 million ADA addresses are currently at a loss.

Source: IntoTheBlock

81% of Cardano holders are at a loss

IntoTheBlock‚Äôs “Break Even Price” indicator reveals that 3.12 million addresses are currently held at a loss. These addresses indicate that 71% of the holders are at loss. The data from the image above shows that 26.47%, or 1.16 million addresses, are currently held at profit. 107.81k addresses, or 2.46% of addresses, are holding breakeven.

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CoinMarketCap data reveal that ADA is trading at $0.3797 at press time, with a 0.5% spike in value over the last 24 hours. ADA is also down by 6% in the last 30 days and 87.75% from its all-time high of $3.10.