of Cardano (ADA), Shiba Inu (SHIB) and Polygon Holders (MATIC) are currently suffering losses as the crypto market continues to sell-off.
Cryptocurrency insights firm IntoTheBlock looks at wallets with Cardano balances, determines the average purchase amount of the coins, and compares the number to the current price of ADA to determine which holders are present. are under water.
Holders are underwater or “out of money” if the average purchase amount is greater than the current price. On the other hand, an investor is listed as “in the money” or profitable if the average cost is less than that current price.
IntoTheBlock performed that most Cardano holders are currently underwater. Among those who have invested in ADA, 81% are “out of money”, while only 12% are “with money” and 8% are “with money” or break even.
Using the same process, IntoTheBlock reveals 51% of Polygon investors are in the red, while 37% are profitable and 12% are breaking even.
Meanwhile, among those who bought Shiba Inu (SHIB), 50% lost money, 39% profit and 11% broke even.
The crypto intelligence firm also found that among those who have invested in Dogecoin, 44% are holding lost positions, 52% are in profit and 5% are breaking even.
Looking at Bitcoin and Ethereum, IntoTheBlock shows that the majority of BTC and ETH investors remain bullish despite the downturn. With Bitcoin losing about half its value in two months, 58% of investors are still holding on to profits. For ETH 61% of its holders “have money”, 30% “out of money” and 9% break even.
SimpleB