Cardano

bullish

Show

Status

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cardano-investors-show-increased-holding-patterns/" data-wpel-link="internal">Cardano Investors Show Increased Holding Patterns</a> 
On March 11, 2024, Cardano (<a href="https://en.coin-turk.com/crypto-market-starts-the-week-with-low-volatility-bitcoin-btc-and-cardano-ada-in-focus/" data-wpel-link="internal">ADA</a>) reached its periodic peak of $0.77. Since then, ADA has been on a downward trend. As of the time of writing, the altcoin is trading at $0.407, marking a 48% decrease. Despite the decline, on-chain <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data reveals</a> that ADA holders are increasingly refraining from selling. 
<h2 style="text-align: justify" id="current-status-of-cardano-investors">Current Status of Cardano Investors</h2> 
Recently, there has been a decrease in ADA’s distribution. This is evident from the rising Average Coin Age and Average Dollar Invested Age. On-chain metrics show a 7% increase since the upward trend was observed on May 30. According to Santiment’s data, ADA’s Average Coin Age is 510 days, and the Average Dollar Invested Age has risen to 585 days, both reaching peak levels. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-374976" src="https://coin-turk.com/wp-content/uploads/2024/07/cardano-1-coin-turk-com.png" alt="" width="569" height="206"> 
To briefly explain, the average coin age of an asset reflects the average age of all coins or tokens in circulation. For <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>, it indicates how long coins have been held on average. On the other hand, the Average Dollar Invested Age reflects the average age of each dollar invested in a coin’s market value. 
Overall, the increase in ADA’s average coin age and average dollar invested age over the past two months is seen as a bullish indicator. It suggests that investors are holding onto their coins, reducing selling pressure. 
This situation is also reflected in data provided by IntoTheBlock, showing a parallel increase in large investor inflows for ADA, which have surged over 20,000% in the last 90 days. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-374977" src="https://coin-turk.com/wp-content/uploads/2024/07/cardano-2-coin-turk-com.png" alt="" width="529" height="315"> 
<h2 style="text-align: justify" id="how-much-will-ada-be-worth">How Much Will ADA Be Worth?</h2> 
Recent movements of ADA investors indicate that purchases have outpaced sales. However, this situation is associated with long-term expectations, suggesting a potential short-term decline. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-374978" src="https://coin-turk.com/wp-content/uploads/2024/07/cardano-3-coin-turk-com.png" alt="" width="551" height="270"> 
ADA could potentially drop to $0.31, a level last visited on October 31, 2023, if the price decline continues. Conversely, if the trend reverses and buying momentum increases, ADA could rise back to $0.43. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/cardano-investors-show-increased-holding-patterns/" data-wpel-link="internal">Cardano Investors Show Increased Holding Patterns</a></h5>
The post <a href="https://en.coin-turk.com/cardano-investors-show-increased-holding-patterns/" data-wpel-link="internal">Cardano Investors Show Increased Holding Patterns</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Cardano Investors Show Increased Holding Patterns

Table of Contents

COINTURK NEWS

Другие статьи, опубликованные 29 июл. 2024 г.

Revolutionize Your Crypto Journey as Zoomex Launches Game-Changing Tools and 2024 Token: Exclusiv...

Polkadot Price Analysis: DOT Unable To Gain Momentum

Revolutionary AI and Blockchain Investments: Uncovering the World’s Best Crypto Presales

Best Altcoins To Buy Now: Rollblock Outshining Solana (SOL) and Polkadot (DOT)

Bitcoin Reaches $70K, Will The All-Time High Breakout Pump BTC Price To $100K?

Bitcoin, Dogecoin Erase Earlier Gains, Ethereum Holding On: 'Choppy Price Action Until FOMC On We...

Join our free newsletter for daily crypto updates!