A vast majority of Cardano (ADA), Polygon (MATIC) and Shiba Inu (SHIB) holders are sitting on unrealized losses, according to data from crypto intelli
Based on data from on-chain intelligence platform IntoTheBlock, 0.38% of Cardano holders are profitable at the current price level of $0.2613. A vast majority, 91.06% ofPercentage of Cardano holders or underwater on IntoTheBlock
Similarly for MATIC, 93.77% of holders are underwater at $0.5392, and 5.52% are sitting on unrealized profits. 88.86% of SHIB holders are underwater at $0.000008. The above statistics support the thesis of an ongoing altcoin capitulation, as most of the holders sitting underwater are likely to send their holdings to exchanges and increase selling pressure on tokens, further driving prices lower. Altcoins like XRP stood out among others, yielding gains for holders.
It is used to determine areas of profit-taking and likely corrections in the short term. Based on data from crypto intelligence tracker Santiment, UNI, MKR and COMP’s MVRV ratio for 30-days is in the opportunity zone. They are close to bottom levels, and the correction is, therefore, likely to end with a period of consolidation of a steady uptrend.
On-chain analysts at Santiment argue that opportunity zones are likely to be followed by a V-shaped recovery in asset prices. While short-term holders of blue-chip DeFi tokens like UNI, MKR and COMP may be currently underwater, they are likely to benefit from a recovery in the short term.Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money.
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