- Despite the price trend, more than 20% hold ADA.
- ADA rebounded, posting its highest increase in months.
Despite the Cardano (ADA) price fluctuating over the past few years and dropping to record lows at certain points, recent data shows that over 20% of holders have maintained their ADA. How have the holders of this category fared?
Long-term Cardano holders dominate.
According to a recent post Into the Block, 23% of Cardano holders have held ADA for more than 5 years. Data analysis shows that there are over 7 billion ADAs in this category.
Additionally, when we analyzed retainers, we found that this category had the highest percentage, with the second highest category being those in the 6-12 month range at 19.7%.
Santiment’s analysis of the total number of Cardano holders shows no significant trends over the past few months.
There has been an increase, but the growth has been slow over the past few months, with the number of owners hovering around 4 million. At the time of this writing, there were approximately 4.5 million holders.
Source: Santiment
Additionally, an analysis of Cardano’s 5-year Market Value to Realized Value Ratio (MVRV) shows that these holders are losing money.
The chart shows that the last revenue for this category was in December. During this period, MVRV rose above 18% at one point before falling below zero around January 3rd.
At the time of this writing, a figure above -5% indicates that the value of your holdings has fallen by more than 5%.
Source: Santiment
ADA attempts to rally
Cardano daily time frame analysis provides insight into the positive phase of the 5-year MVRV. According to the chart, the price of ADA was around $0.60 during December and January.
Once the price fell from this range, ADA converted the support level (yellow line) into resistance.
Source: Trading View
How much is 1,10,100 ADA worth today?
However, a recent rebound has occurred, with ADA experiencing a series of upward trends. According to the chart, this upward trend of less than 1% began around February 5th and experienced a significant increase of over 5% on February 8th.
At the end of trading on February 8, the price was up about 5.3%, with ADA trading at about $0.531. As of this writing, it continues to rise by less than 1%. ADA was trading at around $0.535.