Cardano

bullish

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/cardano-investors-hold-ada-longer" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cardano Investors Hold ADA Longer</a><br></p>
<p style="text-align: justify">On March 11, 2024, Cardano (ADA) peaked at $0.77 but has since declined to $0.407, a 48% drop. Despite this, on-chain <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data reveals</a> that <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> are increasingly holding onto their ADA tokens.</p>
<h2 id="why-are-investors-holding-ada">Why Are Investors Holding ADA?</h2>
<p style="text-align: justify">Recently, there has been a notable decrease in ADA’s distribution. This trend is highlighted by the rising Average Coin Age and Average Dollar Invested Age, which have increased by 7% since May 30. Santiment’s data shows ADA’s Average Coin Age is now 510 days, and the Average Dollar Invested Age is 585 days, both at peak levels.</p>
<p style="text-align: justify">In essence, the average coin age of an asset indicates the average duration that coins have been held. For investors, this metric shows how long, on average, they are retaining their ADA holdings. Similarly, the Average Dollar Invested Age measures the average age of the dollars invested in ADA’s market value.</p>
<h2 id="what-does-this-mean-for-ada-s-future">What Does This Mean for ADA’s Future?</h2>
<p style="text-align: justify">The increase in these metrics over the past two months is viewed as a bullish signal, suggesting that investors are holding their coins, thus reducing selling pressure. This trend is also supported by data from IntoTheBlock, which shows a significant rise in large investor inflows for ADA, surging over 20,000% in the last 90 days.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<ul>
 <li>Cardano’s Average Coin Age and Average Dollar Invested Age have peaked, indicating long-term holding patterns.</li>
 <li>Data shows a substantial increase in large investor inflows for ADA, up by over 20,000% in 90 days.</li>
 <li>The increase in holding duration is perceived as a bullish indicator, reducing selling pressure.</li>
</ul>
<p style="text-align: justify">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. ADA could potentially drop to $0.31 if the price decline continues. Conversely, if the trend reverses and buying momentum increases, ADA could rise back to $0.43.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/cardano-investors-hold-ada-longer" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cardano Investors Hold ADA Longer</a></h5>

Cardano Investors Hold ADA Longer

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Інші статті, опубліковані 29 лип. 2024 р.

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