$ADA distribution trends might shift to accumulation according to on-chain data from IntoTheBlock
Unfortunately, it does not help Cardano to perform well on the market since the cryptocurrency is in the process of forming its seventh negative month in a row. The negativity in the price action of ADA is most likely tied to the holder distribution on the network.
With the majority of ADA positions being opened right at or close to the ATH, the coin suffers constant selling pressure during each recovery rally since more traders are looking forward to neutralizing their losses by selling at a bit higher price.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cardano Whales Keep Buying ADA, Now Hold 12.47 Billion Coins: ReportLarge Cardano wallets’ balances reach 12.47 billion $ADA historic peak. intotheblock Cardano whales santimentfeed
Read more »
BTC, SOL, ADA, SHIB: Market in Sea of RedThe cryptocurrency market has taken a bearish turn after buyers got caught in what appears to be a bull trap
Read more »
Cardano Whales Keep Buying ADA, Now Hold 12.47 Billion Coins: ReportLarge Cardano wallets’ balances reach 12.47 billion $ADA historic peak. intotheblock Cardano whales santimentfeed
Read more »
Cardano Sees 6x More Transaction Volumes Than Ethereum at $42.1 Billion Topping in On-Chain ActivityCardano tops in transaction volume at $42.1 billion, outperforming Bitcoin and Ethereum CardanoADA CardanoCommunity
Read more »
Cardano Support on the Way Following Successful Launch of Base Currency: BitrueBitrue says more Cardano support incoming after successful base currency launch: details CardanoADA CardanoCommunity ADA
Read more »
Cardano Might Reach $1 Billion in TVL at Year-End as Metric Grows: DetailsCardano might hit $1 billion in TVL before the end of the year as metric rises: details CardanoADA CardanoCommunity
Read more »