Almost 90% Cardano Holders Face Losses as ADA Drops to Nine-Month Low
The cryptocurrency market has experienced a sharp downturn recently, with the situation worsening over the last 24 hours.
Bitcoin (BTC) fell below $50,000 for the first time in six months, while Ethereum (ETH) dropped to $2,170, according to CoinGecko.
Large-cap altcoins have also suffered significant losses. Cardano (ADA) saw its price drop by 17% in one day, hitting a nine-month low of $0.27 before recovering slightly to around $0.30.
READ MORE: Shiba Inu Faces Price Drop Amid High Transaction Volume
Over the past week, ADA’s value has decreased by 30%.
This decline has had a severe impact on ADA investors. Data from IntoTheBlock reveals that only 0.35% of ADA holders are currently in profit.
Approximately 87.6% are experiencing losses, with about 12% breaking even.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
