Traders Continue Holding Cardano (ADA) and Chainlink (LINK) Amid Crypto Downturn: Analytics Firm IntoTheBlock
A top crypto analytics firm says that traders are continuing to hold Cardano (ADA) and Chainlink (LINK) despite the crypto market’s recent price crash.
According to a tweet from market intelligence firm IntoTheBlock, ADA investors haven’t been dissuaded despite the smart contract platform being down nearly 73% from its all-time high of $3.09, which it set in early September.
“Regardless of the price action, Cardano’s holders remain strong. The balance held by HODLERS – addresses holding >1 year, is at a multi-year high. These HOLDERS increased their positions to 10.12 [billion] ADA, the largest balance since December 11, 2019.”
Cardano is trading at $0.84 at time of writing, down nearly 18.5% from its price one week ago. Additionally, ADA has fallen to 8th place in the crypto market cap rankings, one spot behind layer-1 competitor Solana (SOL).
LINK is trading at $13.06 at time of writing. The 22nd-ranked crypto asset by market cap is down more than 16.8% from where it was priced seven days ago. The decentralized oracle network is also down more than 75% from its all-time high of $52.70, which it hit last May.
IntoTheBlock says that Chainlink investors have hesitated to let go of their LINK, despite the major downtrend.
“The number of LINK holders has been continuously hitting new highs. 279,440 addresses are now holding Chainlink for over a year. They represent 43.9% of the total holder composition.”
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The post Traders Continue Holding Cardano (ADA) and Chainlink (LINK) Amid Crypto Downturn: Analytics Firm IntoTheBlock appeared first on The Daily Hodl.
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Author: Daily Hodl Staff
