As a seasoned crypto investor with a few years under my belt, I’ve seen my fair share of market corrections. This latest one has hit numerous altcoin investors particularly hard, with many holding assets that are now deep in the red. The statistics presented by IntoTheBlock paint a grim picture for Algorand (ALGO), Sandbox (SAND), Arbitrum (ARB), Cardano (ADA), and Uniswap (UNI) investors, who collectively make up a significant portion of the crypto market.
TL;DR
- The recent cryptocurrency market correction has primarily affected investors in numerous altcoins, with a significant portion experiencing losses.
Meme coin investors like those in Dogecoin (DOGE) and Shiba Inu (SHIB) are comparatively better off, with fewer holders facing losses, benefiting from earlier price increases.
Which Investors are Most Affected?
Although Bitcoin (BTC) began the year strongly with its halving occurring last month, the cryptocurrency market has experienced a significant correction recently. The value of Bitcoin has dropped by over 10% within the past week, falling below the $60,000 threshold. Likewise, other major digital currencies, including Ethereum (ETH), Solana (SOL), Ripple (XRP), and numerous others, have also seen their prices decrease substantially.
In simple terms, IntoTheBlock identified the top 10 cryptocurrency projects where investors holding these digital assets have yet to realize profits, instead facing potential losses on their initial investments.
Among Algorand (ALGO) investors, a staggering 91% currently find themselves underwater with losses. The Sandbox (SAND) and Arbitrum (ARB) communities come in next, with over 80% of their respective holders experiencing red figures as well. (As of the current moment.)
Investors in Cardano (ADA) and Uniswap (UNI) are among the members of an unwanted group, having experienced losses of approximately 60% for Cardano and 52% for Uniswap investors.
Despite the dismal figure, According to IntoTheBlock, these assets present significant prospects if they exhibit robust foundations and indicators of on-chain activity and expansion.
This chart shows the top projects with the most holders in loss.
Algorand tops the chart, with 91% of its holders at a loss.
Arbitrum, Sandbox, and Axie Infinity occupy similar positions, with approximately 80% of their respective token holders experiencing losses.
The silver lining? These assets…
— IntoTheBlock (@intotheblock) April 30, 2024
How are Meme Coin HODLers Doing?
As a researcher, I find it noteworthy that the mentioned list fails to feature any meme coins. A comprehensive examination of IntoTheBlock reveals that only 18% of Dogecoin (DOGE) investors presently experience paper losses. In contrast, nearly 40% of Shiba Inu (SHIB) investors are currently underwater. Interestingly, the majority of Pepe (PEPE) and Floki Inu (FLOKI) investors remain profitable as of now.
The outlook for meme coins has improved significantly thanks to the notable price surges most of these assets underwent in the months leading up to the current market correction.
Last September, approximately 90% of SHIB investors experienced paper losses on their holdings, whereas around 42% of DOGE investors saw profits.
Read More
- W PREDICTION. W cryptocurrency
- ACT PREDICTION. ACT cryptocurrency
- PENDLE PREDICTION. PENDLE cryptocurrency
- Skull and Bones Players Report Nerve-Wracking Bug With Reaper of the Lost
- NBA 2K25 Review: NBA 2K25 review: A small step forward but not a slam dunk
- Exploring Izanami’s Lore vs. Game Design in Smite: Reddit Reactions
- Overwatch Director wants to “fundamentally change” OW2 beyond new heroes and maps
- League of Legends: Saken’s Potential Move to LOUD Sparks Mixed Reactions
- Aphrodite Fanart: Hades’ Most Beautiful Muse Unveiled
- Destiny 2: How Bungie’s Attrition Orbs Are Reshaping Weapon Builds
2024-05-01 11:14