Journalist
Posted:
- Portfolios with 10-100 ADA are down to around 934,000.
- More than 76% of the ADA offering remained profitable.
Cardano [ADA] recently experienced a positive price development in recent weeks. However, it is important to note that this price move came on the back of a decline in another key measure.
Cardano’s small wallets remain low
A recent one Santiment post showed a drop in the number of Cardano wallets by 10 to 100 ADA about a month ago. The analysis of the graph showed a decrease from over 967,000 to approximately 933,000 in this category of wallets.
This decline suggested a sell-off, possibly indicating capitulation. At the time of writing, the number of holders was approximately 934,000.
Source: Santiment
The sale of these wallets had a major impact on the total number of ADA holders.
An analysis of the chart indicated a decline in the total number of ADA holders on the day these portfolios were phased out, from approximately 4.49 million to approximately 4.45 million.
The number of holders was approximately 4.46 million as of the latest update.
Interestingly, despite these portfolio cuts and possible signs of capitulation, ADA showed impressive price trends.
Source: Santiment
ADA maintains a string bull run
Despite the recent downturn in Cardano, the price range tool showed a notable increase of around 60% since November 17. The value increased from about $0.2 to $0.5.
At the time of writing, the stock was trading around $0.57, reflecting a slight decline of over 1%. This decline follows a recovery attempt during the previous trading session.
Source: TradingView
Notably, despite the setback, ADA has managed to hold the $0.5 price range and continues to show a bullish trend.
The Relative Strength Index (RSI) remained above 75 at the time of writing, indicating that ADA was still in the oversold zone and maintaining a strong bull trend.
How much are 1,10,100 ADAs worth today?
More Cardano holders continue to make profits
A survey of Cardano’s overall earnings status indicated consistent gains since about October. Although the profit figure remained relatively stable in November, it saw a significant increase in December.
At the time of writing, the number of profitable ADA was over 27 billion, accounting for more than 76% of ADA’s press offerings.
Source: Santiment