The post Almost Nobody Holding Cardano (ADA) is in Profits Following Today’s Crypto Crash: Data appeared on BitcoinEthereumNews.com.

TL;DR Cardano (ADA) reached a nine-month low price, leaving many investors in losses (as of the moment). Input Output introduced a partner chains toolkit to enhance security, though ADA’s price remained unaffected. The RSI indicates it might be oversold, hinting at a potential rebound. Almost Every ADA Investor Goes Underwater The cryptocurrency market has significantly declined in the past few days, with things escalating in the past 24 hours. The sector witnessed a severe crash where Bitcoin (BTC) briefly collapsed below $50,000 (for the first time in six months), while Ethereum (ETH) slipped to as low as $2,170 (per CoinGecko’s data). Other large-cap altcoins are also deep in the red. Cardano (ADA), for instance, has tumbled by 17% daily, plummeting at one point to a nine-month low of $0.27. Currently, it trades at around $0.30, representing a whopping 30% decrease on a weekly scale. ADA Price, Source: CoinGecko Somewhat expectedly, the nosediving price has negatively affected ADA investors. IntoTheBlock data shows that a mere 0.35% of those exposed to the asset are now sitting at some paper profits. A staggering 87.6% are in the red, while approximately 12% are break-even. Other well-known altcoins whose investors are predominantly in the red include Shiba Inu (SHIB), Toncoin (TON), Avalanche (AVAX), Chainlink (LINK), Litecoin (LTC), and more.  SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details). LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free! Source: https://cryptopotato.com/almost-nobody-holding-cardano-ada-is-in-profits-following-todays-crypto-crash-data/

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Filed under: News - @ August 6, 2024 12:24 am