July 22, 2024
Crypto

Here’s Why 60% of Cardano Holders Are Losing Money!



8h42 ▪
3
min of reading ▪ by
Eddy S.

The crypto market is currently experiencing a massive financial storm. Evidence? No less than 60% of the flagship cryptocurrency holders of the Cardano network are now in negative financial territory. But what are the reasons behind this massive financial collapse for these investors? Decoding at the heart of this unprecedented financial crisis.

Crypto Cardano (ADA)

Cardano Between Spectacular Financial Fall and Hope for Rebound

In numbers, the financial debacle for Cardano is striking. Its flagship cryptocurrency ADA has suffered a steep financial loss of 30% in just one month. As a result, an overwhelming majority of its holders find themselves in financial deficit. Worse, technical analyses suggest a potential further financial plunge down to $0.26 for this crypto. 

Although unlikely, a bullish rebound would certainly allow the coin to target $0.88. But this outrageous financial utilization is impairing the financial investments of countless Cardano holders. Moreover, another leading crypto asset, ARB, is also not spared with 83% of its holders at a loss and a 35% financial plunge last month.

Causes of the Financial Turmoil of ADA Crypto

But then, what explains this historical financial freefall for the Cardano network? First off, the financial demand for its crypto seems to have dried up, as evidenced by its very low financial indicators such as RSI and MFI. Secondly, the widespread financial panic across the crypto markets has also weighed down Cardano. 

Finally, doubts linger about the real financial potential of this network in the face of its competitors. This conjunction of opposing financial winds would thus explain the abyssal financial losses suffered these last few weeks by the holders of Cardano (ADA) crypto.

If this financial crisis is an earthquake for Cardano’s investors, it could also stimulate new opportunities. The most astute financial traders might see it as a golden opportunity to position themselves favorably on this crypto. But make no mistake, caution is still advisable given the violent turbulence currently shaking the highly volatile sector of cryptography.

Maximize your Cointribune experience with our ‘Read to Earn’ program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.

Eddy S. avatarEddy S. avatar

Eddy S.

Le monde évolue et l’adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m’intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l’optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent. View more
Accept
Decline