Title: Cardano Holders Suffering Losses Despite Crypto Market Rebound
Date: [Current Date]
Category: Cryptocurrency
Source: BitRss.com
Despite the recent recovery in the crypto market, Cardano holders are still facing losses, with the altcoin being the worst performer among the top 10 largest cryptocurrencies by market cap. Data from IntoTheBlock reveals that only 25% of Cardano owners are currently in profit, while the majority, 66%, are at a loss.
The profitability of Cardano has remained low since the market crash of 2022, and even with the recent market recovery, the ADA price has failed to follow the upward trend. Currently trading at $0.42, Cardano is struggling to break major resistances at $0.6 and $0.7.
In comparison to other top cryptocurrencies, such as Bitcoin and Ethereum, Cardano lags significantly behind in terms of profitability. Bitcoin is seeing 89% of holders in profit, while Ethereum has 82% in profit. Dogecoin also outperforms Cardano with 75% of wallets in profit.
If the ADA price continues to struggle, the profitability gap is likely to widen further, potentially plunging more Cardano investors into losses. At the time of writing, Cardano is down 4.4% in the last day but has gained 5.29% over the week.
The situation raises questions about the future performance of Cardano and the factors contributing to its underperformance compared to other cryptocurrencies in the market. Investors and analysts will be closely monitoring the ADA price movements in the coming days to assess the potential for a turnaround in profitability for Cardano holders.
