Over 80% of Cardano (ADA) addresses are already in the red. Some major investors now seem to be dumping their holdings.
Since its all-time high in September 2021, ADA has been in a continuous downtrend for the past 21 months. Out of these 21 months, the monthly candles of only four months gave a positive close.
Over 80% of Cardano Addresses Are in Loss
3.67 million Cardano addresses are currently in a state of loss. These loss-making addresses consist of over 83% of the total Cardano addresses.
Only about 11.44% of addresses would have the opportunity to sell at a profit at the current market price, while about 4.95% could just sell with no profit or loss.
Rapidly Increasing Transactional Volume
The development of the transaction volume is proving of interest. While the transaction volume is increasing, the price of ADA is falling. These could indicate that the token is being sold…
