What is the Latest Situation in Cardano (ADA)?

The cryptocurrency market has become active again, with the leading cryptocurrency BTC registering sharp price movements between $25,800 and $26,400 in the last 24-hour period. Ethereum (ETH) exceeded the $ 1600 level during the day. The total market value of the cryptocurrency ecosystem reached 1.04 trillion dollars. In addition, according to Coinglass data, an average of $80 million worth of short and long positions were liquidated in the cryptocurrency market in the last 24 hours.

ADA, the native cryptocurrency of the Cardano blockchain, has also experienced a strong downward momentum in recent weeks. ADA recorded a loss of nearly 3% in the last week, and at the beginning of the week it approached the lowest price levels of the last year. Although the leading cryptocurrency Bitcoin started to rise again as it exceeded the level of $ 26,000, ADA has not yet exceeded the level of $ 0.25 and started to be traded at $ 0.24.

While the directional uncertainty in the cryptocurrency market and the downward momentum in Cardano (ADA) continues, crypto analysis platform Santiment also shared current data and drew attention to critical metrics. According to the data shared by Santiment, the total amount of ADA held by addresses with 1 million to 100 million ADA in their portfolio decreased from 18.15 billion ADA on August 29 to 17.96 billion ADA on September 13.

Addresses holding between 1 million and 100 million ADAs sold approximately 200 million ADAs within 2 weeks. However, on the other hand, according to Santiment’s data, addresses holding between 1 and 1 million ADAs have continued to add various amounts to their portfolios steadily since the beginning of August.