Hardly Anyone Holding Cardano (ADA) Profits After Today’s Crypto Plunge: Data

TL;DR

Cardano (ADA) hit a nine-month low price, leaving many investors in the red (for now). Input Output introduced a set of partner chain tools to improve security, although the price of ADA was not affected. The RSI indicates that it could be oversold, hinting at a potential bounce. Almost all ADA investors go underwater

The cryptocurrency market has declined significantly in recent days, with things escalating in the last 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) fell to $2,170 (according to data from CoinGecko).

Other large-cap altcoins are also heavily in the red. Cardano (ADA), for example, has fallen 17% on the day, plummeting at one point to a nine-month low of $0.27. It is currently trading around $0.30, which represents a 30% decline on a weekly basis.

ADA price, Source: CoinGecko

As expected, the plunging price has negatively affected ADA investors. Data from IntoTheBlock shows that only 0.35% of those exposed to the asset now have some profit on paper. A staggering 87.6% are in the red, while roughly 12% are in balance.

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.

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