IntoTheBlock, crypto Insights company, looks at the wallet in Cardano’s balance to identify the average purchase amount of coins. Then, it compares that number with the current price of Cardano (ADA) to identify the holders who are currently underwater. If the average purchase price is higher than the current price, the holder is running out of money. On the other hand, investors are listed as “in the money” or profit if the average cost is lower than this current price. New data show that the majority of Cardano (ADA), Shiba Inu (SHIB), and Polygon (MATIC) holders are currently losing money as the crypto market continues to sell out.
The data shows that most Cardano (ADA) holders are currently underwater. Those who have invested in ADA, 81 percent have run out of money while only 12 percent are spending money, and 8 percent are making or at break-even. Using the same process, it is shown that 51 percent of Polygon investors are in the red while 37 percent are profitable and 12 percent are balanced. On the other hand, 50 percent of those who bought the Shiba Inu (SHIB) lost money, 39 percent made a profit, and 11 percent were balanced.
The Cryptographic Intelligence Company also reveals that of those who have invested in Dogecoin, 44 percent continue to lose their positions, 52 percent make a profit and 5 percent are balanced. Looking at Bitcoin and Ethereum, the data shows that despite the downturn of the market, the majority of BTC and ETH investors are still in the green. Bitcoin has lost about half its value in two months and 58 percent of investors are still profitable. In the case of ETH, 61 percent of holders are “in the money”, 30 percent are “out of the money” and 9 percent are balanced.
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