Data from analytics platform IntoTheBlock have illuminated a troubling trend within the Cardano (ADA) network, showing a significant dip in ‘profitability’ for its holders.
While cryptocurrencies like Bitcoin and TRX show a high percentage of holders in profit, Cardano stands in stark contrast, with only 35% of its holders currently seeing gains.
This insight into the Cardano ecosystem reveals deeper challenges, as many of ADA’s transactions now appear to be at a loss.
The chart below shows the percentage of holders in profit on several top layer 1 networks
Bitcoin remains king, with $TRX being a close second. $DOGE and $ETH also have the vast majority of holders in profit. $ADA stands out with only 35% of holders in profit. But is this… pic.twitter.com/x9YwfuNIN4
— IntoTheBlock (@intotheblock) April 24, 2024
Details Into ADA Investors Profitability
The report’s specifics indicate that out of 1.59 million addresses holding 14.07 billion ADA, a substantial amou
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