![Cardano [ADA] holders will not gain without short-term pain, here’s why](https://i.headtopics.com/images/2023/1/5/cryptoamb/cardano-ada-holders-will-not-gain-without-short-te-cardano-ada-holders-will-not-gain-without-short-te-1610796973447155714.webp)
ADA whales and small to medium-sized investors have reduced their ADA holdings in the past few months. On-chain assessments suggested that most ADA holders were logging losses on their holdings at press time. According to a report from Santiment, small to medium-sized investors holding between 10,000 and 1,000,000 Cardano [ADA] coins have become hesitant to accumulate […]
coins have become hesitant to accumulate more of the cryptocurrency. ADA’s price experienced a continuous decline over the past few months which could be the reason for reduced holdings.
According to the on-chain analytics platform, this cohort of ADA holders ramped up accumulation during the 2019 bear market. However, these holders ended the same during the final stages of the 2021 bull market, when the ADA’s price touched $1.3.After this, these investors began distributing ADA tokens more than they bought until two months ago. This was when ADA traded for as low as $0.33.“This suggests that these investors may be cautious about the potential of ADA.
As of this writing, ADA’s MVRV stood at -66.30%, indicating that most people will realize losses if they all sell their holdings at the current price.Subscribe to get it daily in your inbox.
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