Most Bitcoin Holders in Profit As Over 90% of Cardano and Avalanche Investors Sit Underwater: IntoTheBlock
A leading crypto analytics platform reveals that more than half of Bitcoin (BTC) owners are in profit while an overwhelming majority of those who invested in Cardano (ADA) and Avalanche (AVAX) are nursing losses.
New data from IntoTheBlock shows that 62% of Bitcoin holders are seeing gains in their investments while 38% are sitting on losses.
At time of writing, Bitcoin is trading for $25,100.
Looking at the smart contract protocol Cardano, the analytics firm reveals that 91.52% of ADA holders are currently underwater with 7% at breakeven.
Most Avalanche holders are also seeing negative returns. An overwhelming 95.56% are in the red with less than 5% breaking even.
At time of writing, ADA is worth $0.26, while AVAX is trading for $11.39.
Holders of other crypto assets are also witnessing unfavorable outcomes. Data shows that 51.74% of Dogecoin (DOGE) investors and 60.58% of Litecoin (LTC) owners are holding underwater positions due to the latest market downturn.
Although many altcoin holders are feeling the sting of the crypto correction, IntoTheBlock says that the majority of Ethereum (ETH) holders are still enjoying gains. The analytics firm shows that nearly 60% of ETH holders are currently in the money.
“The recent crypto market dip sent several assets tumbling. Some are even surpassing 90% of holders holding at a loss.
Not all is gloomy though! Several assets seem to weather the storm pretty well.”
At time of writing, Ethereum is trading for $1,653.
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Featured Image: Shutterstock/Antonio Ognibene/Sensvector
