Despite the price rally, the majority of Cardano and Shiba Inu Holders are still In Loss

Despite the recent uptick in the larger crypto markets, the majority of Cardano (ADA) and Shiba Inu (SHIB) holders are still losing money, according to new research.

Crypto intelligence service IntoTheBlock examines wallets with a Cardano balance, identifies the average purchase amount of the coins, and compares the figure to the current price of ADA to identify which holders are still underwater.

Even after Cardano’s 28.8% rise from a seven-day low of $0.74 to its current price of $0.95. So, according to IntoTheBlock, 84 percent of ADA holders remain out of the money or in losses. According to the crypto analytics organization, only 12% of ADA holders are in the black or profit, while 4% are in the green or breakeven.

According to IntoTheBlock, 55 percent of Shiba Inu owners are nursing losses. That’s, 39 percent are retaining gains, and 7 percent are breaking even. SHIB is currently trading at $0.000027, about 30% higher than its seven-day low of $0.000021.

IntoTheBlock is also keeping track of how profitable Decentraland’s virtual reality platform is for its owners (MANA). According to the research firm, 47 percent of MANA holders are in the black. So, while 42 percent are in the red. The rest are on the verge of breaking even.

According to IntoTheBlock, 51 percent of Dogecoin (DOGE) holders are holding onto gains. So, while 43 percent are out of the money, and 6 percent are breaking even.

Furthermore, according to IntoTheBlock, the bulk of Ethereum (ETH) holders are profiting. That’s, with 73 percent in the black, 23 percent in the red, and only 4% in the red.

There is currently no data on Bitcoin holder profitability (BTC).
Related Posts – Bank DBS’s Crypto Business Grows Massively Due To Growing Demand From Investors