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- ADA fell to the $0.37 price range.
- Unrealized ADA loss has increased in the past few weeks.
In recent months, Cardano [ADA] It experienced a difficult period in terms of price performance. As the price of ADA fell, there was a corresponding increase in the number of addresses holding the asset at a loss.
This trend indicates that many investors who purchased Cardano at higher prices are now facing negative returns on their investments.
Cardano is puzzled
Global in/out of funds index analysis Cardano on IntoTheBlock Provides insight into the current status of investors’ holdings.
The data shows that so far, there are 3.31 million “out of money” addresses.
This means that the current price of Cardano was lower than the average cost at which these ADA addresses purchased theirs.
Analysis of Cardano market conditions also reveals that approximately 74% of all ADA addresses are currently “out of money.” It was a large majority that emphasized the widespread impact of falling prices.
Source: IntoTheBlock
The breakdown indicated that addresses that bought ADA at a price near $0.39 are the closest to breaking even despite the overall market downturn.
Together, these addresses contain about 2.57 billion ADA tokens. There are about 180,000 addresses in this particular category, representing a large pool of investors.
Cardano addresses become less active
analysis Cardano Daily active headlines indicate a pullback to a consistent pattern over the past few days.
According to a chart from Santiment, the number of active addresses dropped to around 29,000 by July 20.
Source: Santiment
It has also continued to move within this range since then. By the end of trading on June 23, the number of active addresses reached approximately 29,527 addresses.
According to the latest data, this number has dropped significantly to around 15,000. This decrease in active addresses may indicate a decrease in network usage and engagement.
Recent analysis of Cardano trading volume indicated a decline, followed by a return to activity.
According to the latest data, trading volume reached approximately $280 million, which represents an increase from the $202 million recorded at the close of trading on June 23.
ADA price drops again
AMBCrypto analysis of the daily timeline of Cardano It shows that after a decline of more than 1% on June 23, it was trading at around $0.38.
Source: Trading View
Is your wallet green? Check the Profit calculator in Cardano
As of this writing, the price has fallen further to the $0.37 range after a decline of approximately 1.58%.
In addition, the analysis highlights that the resistance level for Cardano, indicated by its short moving average (yellow line), is holding at around $0.44.
