TL;DR
- Cardano (ADA) reached a nine-month low price, leaving many investors in losses (as of the moment).
- Input Output introduced a partner chains toolkit to enhance security, though ADA’s price remained unaffected. The RSI indicates it might be oversold, hinting at a potential rebound.
Almost Every ADA Investor Goes Underwater
The cryptocurrency market has significantly declined in the past few days, with things escalating in the past 24 hours. The sector witnessed a severe crash where Bitcoin (BTC) briefly collapsed below $50,000 (for the first time in six months), while Ethereum (ETH) slipped to as low as $2,170 (per CoinGecko’s data).
Other large-cap altcoins are also deep in the red. Cardano (ADA), for instance, has tumbled by 17% daily, plummeting at one point to a nine-month low of $0.27. Currently, it trades at around $0.30, representing a whopping 30% decrease on a weekly scale.
Somewhat expectedly, the nosediving price has negatively affected ADA investors. IntoTheBlock data shows that a mere 0.35% of those exposed to the asset are now sitting at some paper profits. A staggering 87.6% are in the red, while approximately 12% are break-even.
Other well-known altcoins whose investors are predominantly in the red include Shiba Inu (SHIB), Toncoin (TON), Avalanche (AVAX), Chainlink (LINK), Litecoin (LTC), and more.
The post Almost Nobody Holding Cardano (ADA) is in Profits Following Today’s Crypto Crash: Data appeared first on CryptoPotato.
