Even though the crypto market as a whole is recovering, people who own Cardano (ADA) are still losing a lot of funds . IntoTheBlock data shows that Cardano is the least profitable of the ten most significant cryptocurrencies by market cap. This is bad news for investors in the cryptocurrency.
Cardano hasn’t made much funds since the market crash in 2022. Even though the market has been going up lately, most buyers are still losing funds because ADA hasn’t been able to break through key resistance levels at $0.6 and $0.7.
Cardano Profitability Hits Low
IntoTheBlock says that only 25% of Cardano users are making funds right now. A shocking 66% are losing funds, and only 9% are even. Out of the 4.5 million people who own ADA, only 1.11 million are making funds, 2.96 million are losing funds , and 397,740 are just breaking even.
If the price of ADA falls below $0.35, 138,000 more addresses will lose funds. On the other hand, if the price goes up above $0.47, 85,590 addresses could make funds.
ADA performance is much worse than that of other significant cryptocurrencies. For Bitcoin, 89% of its owners are making funds, for Ethereum, 82%, and for Dogecoin, 75%.
Right now, the price of ADA is $0.42, which is down 4.4% in the last 24 hours but up 5.29 % over the last week after a recent rise.
