Key on-chain metric suggests Cardano (ADA) might be worth looking out for
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
When an asset has a high supply-to-profit ratio, it usually indicates that the majority of holders purchased the asset at lower prices. These ratios can skyrocket during bull markets, for instance, from October 2023 to March 2024, and a surge is frequently correlated with overbought indicators. However, the supply-in-profit percentage indicator is best used with other metrics, such as whale accumulation and MVRV.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cardano Foundation CEO Talks New Era for Cardano as ADA EvolvesCardano Foundation CEO Frederik Gregaard makes profound remark that resonates with optimism
Read more »
Cardano (ADA) Key On-Chain Metric Falls to Worrying LevelsWarning for Cardano (ADA) holders? Key on-chain metric falls dramatically
Read more »
Bitcoin (BTC) Surpasses Dogecoin (DOGE) and Cardano (ADA) in This Important MetricBitcoin has outpaced two top-10 cryptocurrencies in terms of recent acquisitions
Read more »
Cardano (ADA) Veterans Declare Upcoming Chang Hard Fork Game-ChangerCardano (ADA) enthusiasts are hyping Chang hard fork, poised to usher in new era of decentralized governance
Read more »
Forbes Calls XRP and Cardano (ADA) Crypto Zombies: Community DisagreesForbes marked numerous top-tier assets 'zombies,' causing stir in community
Read more »
Cardano (ADA) and Polkadot (DOT) Outperform Ethereum (ETH) on This Front: DetailsCrypto Blog
Read more »