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Market Crash Sees Cardano (ADA) Profitability Plummet To All-Time Lows

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Cardano (ADA) saw its price crash alongside the rest of the crypto market on Thursday and those losses have carried on into Friday. As a result of this decline, the profitability of the digital asset has been dealt a serious blow. The altcoin is now the worst performer out of the top 10 cryptocurrencies by market cap when it comes to the profitability of its holders.

Cardano Holders Suffer Consistent Losses

Over the last few months, Cardano (ADA) has moved mostly downward with some recovery here and there. The decline in its price has greatly affected the holders of the native ADA coin which has seen their portfolios suffer losses.

With the most recent market crash, ADA holders are once again caught holding the bag as IntoTheBlock shows that the majority of holders are currently nursing losses. According to the on-chain data tracker, a whopping 91% of all ADA holders are in losses.

Only 5% of ADA holders are in profit | Source: IntoTheBlock

This metric is gotten by taking into account the price at which coins were last moved on the blockchain compared to the current prices. If the price they were last moved was lower, then holders are in profit. If the reverse is the case, the holders are said to be seeing losses.

Presently, only 5% of ADA holders are seeing any profit, with 3% sitting in neutral. This means that these holders bought their coins at similar prices to the current market price. For Cardano, this means that its holders are seeing more losses than any of the other cryptocurrencies in the top 10.

ADA Recovery Hindered By Negative Sentiment

While a recovery is usually expected after such a large plunge, the current climate around investor sentiment could make it harder. As IntoTheBlock shows, the metrics for Cardano are currently mostly bearish, especially with such a large chunk of its hold base being in losses.

This also tracks with the decline in the general market sentiment as well. The Crypto Fear & Greed Index actually recorded a massive plunge, going from

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Author: Best Owie

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