Cardano

Bitcoin ETF

Gold

Dogecoin

<div class="finbold">
 <p class="paragraph">Although the recent bull market in the cryptocurrency sector has brought on massive <a rel="noopener noreferrer nofollow" title="profit" href="https://thebittimes.com/tag/profit.html">profit</a>s for investors in many crypto assets, Cardano (ADA) remains a mystery, with only 35% of its <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> in the green – leaving traders to wonder whether this is an opportunity or a <a rel="noopener noreferrer nofollow" title="warning" href="https://thebittimes.com/tag/warning.html">warning</a> sign.</p>
 <p class="paragraph">Specifically, Cardano stands out among several top Layer 1 networks, including Bitcoin (BTC), Tron (TRX), Dogecoin (DOGE), Ethereum (ETH), and Avalanche (AVAX), with just over a third of its holders in profit, according to the recent data shared by blockchain analytics platform <em>IntoTheBlock </em>on April 24.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="800" height="442" src="https://cdn.thebittimes.com/images/2024/04/25/948fd21893be47ef4e6adccdca0bec40.webp" alt="Holders profitability on top Layer 1 networks. Source: IntoTheBlock" class="wp-image-171589" srcset="https://cdn.thebittimes.com/images/2024/04/25/948fd21893be47ef4e6adccdca0bec40.webp 800w, https://cdn.thebittimes.com/images/2024/04/25/948fd21893be47ef4e6adccdca0bec40.webp 300w, https://cdn.thebittimes.com/images/2024/04/25/948fd21893be47ef4e6adccdca0bec40.webp 768w" sizes="(max-width: 800px) 100vw, 800px">
  <figcaption class="wp-element-caption"><em>Holders profitability on top Layer 1 networks. Source: </em><em>IntoTheBlock</em>
  </figcaption>
 </figure>
 <p class="paragraph">Indeed, as the blockchain platform’s analysts explained, “Bitcoin remains king,” with Tron “being a close second,” while Dogecoin and Ethereum “also have the vast majority of <a rel="noopener noreferrer nofollow" title="holders" href="https://thebittimes.com/tag/holders.html">holders</a> in <a rel="noopener noreferrer nofollow" title="profit" href="https://thebittimes.com/tag/profit.html">profit</a>,” which makes Cardano a curious exception to the recent trends and a <a rel="noopener noreferrer nofollow" title="profit" href="https://thebittimes.com/tag/profit.html">profit</a>ability puzzle.</p>
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 <h2 class="wp-block-heading" id="h-cardano-ada-price-analysis">Cardano (ADA) price analysis</h2>
 <p class="paragraph">As it happens, Cardano is one of the ‘losers’ among assets in the crypto market this year, considering it has declined over 20% since the year’s turn, while the others on the above list have experienced gains – with the exception of Avalanche, which has declined 9.36% during this period.</p>
 <p class="paragraph">Furthermore, it has experienced declines on its daily and monthly charts, dropping 6.42% in the last 24 hours and losing a more significant 32.01% across the previous 30 days, albeit accumulating a 3.32% gain over the past week, and currently changing hands at the price of $0.4637.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="750" height="496" src="https://cdn.thebittimes.com/images/2024/04/25/75cf847fb7f6cde27dd69da6ce8a74e7.webp" alt="Cardano price 7-day chart. Source: Finbold" class="wp-image-171590" srcset="https://cdn.thebittimes.com/images/2024/04/25/75cf847fb7f6cde27dd69da6ce8a74e7.webp 750w, https://cdn.thebittimes.com/images/2024/04/25/75cf847fb7f6cde27dd69da6ce8a74e7.webp 300w" sizes="(max-width: 750px) 100vw, 750px">
  <figcaption class="wp-element-caption"><em>Cardano price 7-day chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">Meanwhile, such price action could represent an opportunity for investors seeking to grow their portfolios, as Cardano has earlier demonstrated a critically low Market Value to Realized Value (MVRV) ratio, which crypto expert Ali Matinez identified as a bullish signal for an “impressive rebound.”</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="800" height="357" src="https://cdn.thebittimes.com/images/2024/04/25/b5994f7f4b94884472ca77147d7b5ce3.webp" alt="Cardano MVRV ratio analysis. Source: Ali Martinez" class="wp-image-171591" srcset="https://cdn.thebittimes.com/images/2024/04/25/b5994f7f4b94884472ca77147d7b5ce3.webp 800w, https://cdn.thebittimes.com/images/2024/04/25/b5994f7f4b94884472ca77147d7b5ce3.webp 300w, https://cdn.thebittimes.com/images/2024/04/25/b5994f7f4b94884472ca77147d7b5ce3.webp 768w" sizes="(max-width: 800px) 100vw, 800px">
  <figcaption class="wp-element-caption"><em>Cardano MVRV ratio analysis. Source: </em><em>Ali Martinez</em>
  </figcaption>
 </figure>
 <p class="paragraph">All things considered, ADA could be in for further declines or is preparing to soar if the renowned crypto trading expert is correct. However, trends in the cryptocurrency industry can often change suddenly, so doing one’s own research and weighing all the risks is critical.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/opportunity-or-warning-sign-only-35-of-cardano-holders-in-profit-tbt86525.html">https://thebittimes.com/opportunity-or-warning-sign-only-35-of-cardano-holders-in-profit-tbt86525.html</a></p>

Opportunity or warning sign? Only 35% of Cardano holders in profit

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