Cardano

Cardano Gold

Key Points:<ul><li>ADA struggles with a 35% profitability rate.</li><li>$0.38 resistance poses a formidable hurdle.</li><li>Cardano’s journey crucial for investor sentiments.</li></ul>In a surprising revelation, blockchain analytics firm <a href="https://twitter.com/intotheblock/status/1730171516560543987" rel="noopener noreferrer nofollow">IntotheBlock</a> has uncovered a concerning trend within the Cardano (ADA) community, stating that a mere 35% of ADA holders are currently in profit. This statistic sharply contrasts with other prominent blockchain protocols, signaling potential hurdles for ADA investors despite the recent bullish market trends.The on-chain data provided by IntotheBlock points to a significant resistance level at $0.38 for ADA. According to their analysis, a substantial 7.19 billion ADA tokens have been accumulated at this resistance point, creating a formidable barrier for any further upward movement. The breakthrough of this resistance level could prove to be a pivotal moment for ADA and its investor community.The revelation about the limited profitability of ADA holders amidst recent market surges raises pertinent questions about the protocol’s ability to capitalize on favorable market conditions. While other leading protocols boast higher percentages of profitable holders, ADA investors seem to be grappling with unique challenges in realizing gains.<h2 id="header-0">Cardano (ADA) Current Price Analysis</h2>As per the latest data from CoinMarketCap, ADA is currently trading at $0.376136, with a 24-hour trading volume of $268 million, reflecting a 3.09% increase. However, the cryptocurrency has witnessed a 2.59% decline in price over the last 24 hours and a 1.95% decrease in the weekly chart.ADA currently holds the #8 position in the CoinMarketCap ranking, boasting a market capitalization of $13 billion. The circulating supply of ADA coins is reported to be 35,303,656,335, with a maximum supply capped at 45,000,000,000 ADA coins._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/cardano-ada-faces-uphill-battle-as-only-35-of-holders-profit-amidst-0-38-resistance/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on December 1, 2023.

Cardano (ADA) Faces Uphill Battle as Only 35% of Holders Profit Amidst $0.38 Resistance

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