Ethereum

Cardano

Coin

<ul class="news-points">
 <li>ADA’s ranking drops to 10th by market cap amid a significant price decrease.</li>
 <li>Only 35% of ADA holders are currently in profit, contrasting with BTC and ETH.</li>
 <li>ADA’s on-chain activity declines, reflecting reduced engagement amidst the price drop.</li>
</ul>
Cardano (ADA), a layer-1 blockchain network, is facing a challenging period as its price continues to drop and its market ranking declines. Notably, ADA is now ranked as the tenth largest cryptocurrency by market cap, following a huge decrease in value. In the last month alone, <a href="https://coinmarketcap.com/currencies/cardano/" target="_blank" rel="noopener noreferrer nofollow">ADA’s price has fallen</a> by 28%, and it has seen a nearly 22% drop year-to-date, according to CoinMarketCap.
Moreover, recent data from IntoTheBlock shared on X reveals that only about 35% of ADA holders are currently in profit. This contrasts starkly with other major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), where 86% and 81% of holders, respectively, are seeing profits. The situation has led to increased scrutiny of Cardano’s near-term demand potential as more investors are facing losses.
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 The chart below shows the percentage of holders in profit on several top layer 1 networks <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> Bitcoin remains king, with <a href="https://twitter.com/search?q=%24TRX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$TRX</a> being a close sec…
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The post <a href="https://coinedition.com/cardanos-ada-faces-market-downturn-amid-whales-reluctance-to-invest/" rel="noopener noreferrer nofollow">Cardano’s ADA Faces Market Downturn Amid Whales’ Reluctance to Invest</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Cardano’s ADA Faces Market Downturn Amid Whales’ Reluctance to Invest

Coin Edition

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