• ADA’s ranking drops to 10th by market cap amid a significant price decrease.
• Only 35% of ADA holders are currently in profit, contrasting with BTC and ETH.
• ADA’s on-chain activity declines, reflecting reduced engagement amidst the price drop.

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, ADA’s price has fallen 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.

The post Cardano’s ADA Faces Market Downturn Amid Whales’ Reluctance to Invest appeared first on Coin Edition.

• ADA’s ranking drops to 10th by market cap amid a significant price decrease.
• Only 35% of ADA holders are currently in profit, contrasting with BTC and ETH.
• ADA’s on-chain activity declines, reflecting reduced engagement amidst the price drop.

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, ADA’s price has fallen 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.

The post Cardano’s ADA Faces Market Downturn Amid Whales’ Reluctance to Invest appeared first on Coin Edition.