67% of Cardano holders underwater.
Cardano’s ADA token has had a bearish week. Since Monday, the price has fallen 11.4%, resulting in more holders being in the red. More significantly, ADA is now 64.7% below its September 2 all-time high of $3.09.
9% of them are at a breakeven point.
The vast majority, or 76% of ADA holders, have held it for between one and 12 months. Just 11% of Cardano investors have held the token for more than a year, and those are the ones that are still in profit.
From a technical standpoint, ADA has turned bearish and could quite quickly revisit its 2022 and yearly low point of around $0.80.
The slide in prices could be tied to the network not living up to high expectations set around the launch of smart contracts. In terms of the numbers of DApps, Cardano is still somewhat of a wasteland, with DefiLlama reporting that there are just ten DeFi protocols running on the network with a combined total value locked of around $233 million.
