Majority of Cardano (ADA) and Shiba Inu (SHIB) Holders Still Underwater Despite Price Rally: IntoTheBlock
New data reveals that despite the bounce in the broader crypto markets, the majority of Cardano (ADA) and Shiba Inu (SHIB) holders are continuing to nurse losses.
To determine which holders are still underwater, crypto intelligence firm IntoTheBlock looks at wallets with a Cardano balance, identifies the average purchase amount of the coins and compares the figure to the current price of ADA.
IntoTheBlock shows that 84% of ADA holders are out of the money or in losses even after Cardano’s 28.8% rally from a seven-day low of $0.74 to its current price of $0.95. The crypto insights firm also reveals that only 12% of ADA holders are in the money or in profits while 4% are at money or breakeven.
Looking at meme coin Shiba Inu, IntoTheBlock shows 55% of SHIB owners are nursing losses while 39% are holding gains and 7% are breakeven. At time of writing, SHIB is trading at $0.000027, up nearly 30% from its seven-day low of $0.000021.
IntoTheBlock is also tracking the state of profitability for holders of the virtual reality platform Decentraland (MANA). According to the analytics firm, 47% of MANA holders are in the money and 42% are holding losing positions. The rest are at breakeven.
As for investors of dog-theme coin Dogecoin (DOGE), IntoTheBlock reveals 51% of DOGE holders are holding onto gains while 43% are out of the money and 6% are breaking even.
In addition, IntoTheBlock reports that the majority of Ethereum (ETH) holders are in profits as 73% are in the money, 23% are out of money and only 4% are breakeven.
No data on holder profitability is currently available for Bitcoin (BTC).
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The post Majority of Cardano (ADA) and Shiba Inu (SHIB) Holders Still Underwater Despite Price Rally: IntoTheBlock appeared first on The Daily Hodl.
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Author: Daily Hodl Staff
