As a seasoned crypto investor with over a decade of experience in this rollercoaster ride, I’ve seen my fair share of market fluctuations and trends. The recent surge in Cardano (ADA) has been particularly noteworthy, given its impressive recovery from August’s lows when the majority of ADA holders were underwater.
TL;DR
- Cardano’s price soared to as high as $1.17, with market cap surpassing $40 billion amid bullish network indicators.
- 73% of ADA investors are now in profit, a sharp recovery from August’s lows when the majority of the token’s holders were underwater.
ADA Heads North
Over the last day, the cryptocurrency market has shown a significant rebound. Various top digital currencies have posted substantial increases. For example, Bitcoin (BTC) surged above $100,000 once more, and Ethereum (ETH) is approaching the $4,000 mark.
Cardano’s native currency, ADA, has shown impressive performance lately, experiencing a nearly 15% increase in value over a daily period. At one point, it reached $1.17 in valuation but has since settled at around $1.14, according to CoinGecko’s data. Moreover, the market capitalization of ADA has climbed above $40 billion, cementing its position among the top 10 largest cryptocurrencies in existence.
In my recent study, I’ve noticed that the latest surge in this field corresponds with three positive signals. One of these indicators is “Net Network Growth.” As per IntoTheBlock, this metric has been increasing daily by 0.26%. This signal provides a sense of the genuine expansion of the token’s underlying network.
As a researcher, I’m moving forward to examine the indicator “Concentration,” which quantifies daily shifts in the positions of whales controlling more than 1% of the circulating supply and investors holding between 0.1% and 1%. Notably, this metric has surged by 0.26%, positioning it within the bullish zone.
Additionally, let’s delve into the topic of “Large Transactions” – a technical indicator that displays transactions exceeding $100,000 in number. Notably, there’s been a 0.52% increase, implying an uptick in network activity.
Having been deeply immersed in the ever-evolving world of cryptocurrency for quite some time now, I’ve come to appreciate the significance of staying updated with the latest advancements. That’s why I’m excited to share that we’ve just unveiled a video showcasing some of the significant developments taking place around Cardano. If you’re curious about this promising project, be sure to give it a watch here: [Link]
ADA Investors in the Green
Despite the previously mentioned optimistic factors, we find ourselves in a pessimistic situation. This is indicated by the “InTheMoney” signal, which reveals the increase in the number of ADA investors currently enjoying realized profits.
At present, as I compose these words, approximately 73% of individuals investing in the asset are experiencing profits, while about 16% are currently facing losses, and a further 11% are neither winning nor losing. Despite a slight setback, the proportion of profitable investors continues to be significantly higher compared to the figures recorded at the beginning of August this year.
Previously, very few ADA holders had unrealized gains because the token’s value had dropped below $0.30. At that time, an astonishing 87.6% of the holders were in a loss, while around 12% were at break-even point.
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2024-12-12 17:34