Due to the widespread slowing market momentum, Cardano has gone through value depreciation lately, quite similar to most of the market. Having said that, people holding Cardano have been more unfortunate than those holding other digital assets. Most ADA holders have been in the red zone for a longer period of time unlike investors of other leading digital assets. This makes it look worrisome.
For the time being, one fourth of all Cardano investors are in the profit zone. Majority of them are the people who have held their assets over the long term. This simply means that they have held their tokens for longer than one year. On the contrary, the mid-term holders are the apparent investors who are bearing the brunt of the losses. Investors who have held their tokens for one to 12 months fall under the category of mid-term holders. What’s astounding is that such holders contribute to more than three quarters of the total investors. No wonder they contribute to a large amount of investors in the loss.
Going by the data from IntoTheBlock, there are more than two-thirds of ADA holders who are losing money at present prices. A miniscule 9 per cent of all ADA holders are in a no profit no loss zone. This means that they bought the tokens at the present rate.
Taking this into consideration, Cardano has once again moved towards the bearish zone. Last week, it went to show some bullsh signs but since then has not been able to hold on to the bullish position. This gives all the reasons for its bleak future in the short term.
