We can look at cryptocurrencies in different categories. Someone bets on tokens, the price of which is based solely on speculation and is high-risk, and someone chooses projects that give a chance for a return on investment in the long term. As it turned out, the king of digital assets still allows its buyers to be in the plus, but the altcoin from Cardano continues to bring investors losses.
Only 35% of ADA token addresses remain on the plus side in terms of its long-term purchase. Only 2.73 million Cardano wallets are generating losses for investors
BTC, TRON, ETH and DOGE have proven to be the most profitable options in the cryptocurrency market in the long term
Cardano (ADA) - the biggest disappointment in the market?
.HODLing digital assets is characterized by the strong belief of their owners that they will prove to be a reliable store of value in the long run and bring them adequate returns.
As seen in the results of a recent report by analytics platform IntoTheBlock, this varies for some cryptocurrencies. In first place in terms of profitability is the leader of this whole "herd", bitcoin.
As much as 86% of HODLers can talk about the profit from their investments in the king of digital currencies. In second place is the native token of the Tron network, TRX, with a result of 85%. This is quite a positive surprise, considering that since the beginning of this year, the altcoin managed to grow by a maximum of 38%, but then fell sharply. Rounding out the pedestal is the largest of the memcoins, dogecoin. Thanks to dogecoin, 83% of long-term investors benefited.
However, let's move on to less joyful and even disappointing questions. What is happening with Cardano? This token looks very pale in this ranking, as only 35% of its HODLers can speak of any skill. Many in the cryptocurrency community have already put their crosses on this project.
Its network is already often called a "ghost chain", as there is a popular belief that nothing happens in it. However, when viewed objectively, this is not entirely true, as I wrote about here some time ago.
Not so long ago, the creator of this ecosystem - Charles Hoskinson - explained the possible reasons for Cardano's "ghostliness" and stated that his blockchain will yet show everyone who will have the last laugh.
However, let's focus on the dry facts. And they are as follows: The viability of ADA HODLing is pale at the moment, and there are no signs that things will change for the better.
Taking a magnifying glass to the chains of 1.59 million addresses with a total ADA of 14.07 billion, 5.71 billion tokens have been purchased at prices ranging from $0.000006 to $0.299162 per unit. The current market value of this altcoin is $0.47, so this group can talk about profits.
However, if we look at the total amount, more than 2.73 million addresses are in the negative, and we are talking about a volume of as much as 20.07 billion ADA tokens. A report from IntoTheBlock shows that they were bought in the range of $0.5975 to $0.7265 per ADA.
Moreover, 152,940 addresses are currently at breakeven and the total value of ADA is 947.87 million.
This situation does not make investors optimistic about the future of this ecosystem. However, the cryptocurrency market is a festival of various paradoxes and coincidences.
Of course, the ADA price is 85% away from the ATH of September 2021, but not so big gaps have already caught up. We'll just have to wait to see what Hoskinson and his team do next.