Cardano (ADA), the ninth-largest cryptocurrency by market capitalization, has recorded significant profit margins in its holding addresses. Despite ADA’s price dipping below the $1 mark, this positive development is occurring.
Key Cardano metrics amid market volatility
According to data from IntoTheBlock, Cardano’s In/Out of the Money chart reveals interesting developments in the performance of the asset.
A total of 2.68 million Cardano addresses are in profit, representing 60.9%. This refers to addresses currently making significant gains. Meanwhile, 1.54 million addresses are experiencing losses, or are "Out of the Money." This covers 34.95% of total addresses.
ADA Address Profitability via IntoTheBlock
Related
Tue, 12/17/2024 - 14:58 16.25 Billion Cardano (ADA) in 24 Hours, What's Happening?
Godfrey Benjamin
Notably, the cumulative Cardano addresses stand at 182,930. That covers 4.15% of the total wallets registered on the Cardano network.
The positive metrics were recorded despite ADA being down by about 70% from its all-time high (ATH). It marks a significant development for Cardano, which has struggled to regain $1 in the last four days.
ADA trades at $0.8984 as of this writing, representing a 0.49% increase in the last 24 hours.
Analysts give diverging price predictions
The Cardano community, however, remains bullish on the asset's potential to regain higher price levels.
According to an earlier U.Today report, on-chain analyst Ali Martinez has also given investors and traders hope for a possible bullish run. Martinez noted that historical precedence shows the ongoing price correction could lead to a price surge of up to $6. Investors will have to hope for history to repeat itself.
Related
Mon, 12/16/2024 - 10:21 Cardano Founder Sparks Community Speculation With Cryptographic Post
Godfrey Benjamin
However, Peter Brandt, a veteran trader, differs in his prediction. Brandt suggests that ADA’s price could drop significantly. He referred to the anticipated drop as a "potential CAR crash," which could see ADA drop by over 40%.
The differing viewpoints emphasize the need for investors and traders to conduct their research. This could prevent significant losses on the part of investors.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
