U.Today - In the midst of recent relief on the crypto market, after yesterday's merry-go-round, quotes of ADA are greening up, and right now, they are showing a modest 1.2% addition. However, an impending obstacle looms over ADA's potential upward movement, creating uncertainty for a recent price surge.
has unveiled data that sheds light on a significant roadblock standing in the way of ADA's price growth. Approximately four billion ADA, currently valued between $0.282 and $0.326, remains stuck in a state of unprofitability. Once the price crosses this threshold, these holders will have the opportunity to sell their tokens at breakeven or even at a slight profit.
Source: If ADA manages to surpass this crucial hurdle, further pressure is expected to build up. This outcome should not come as a surprise, considering that a staggering 76% of Cardano's token offering is in the red globally. Astonishingly, only 12.2% of all holders are currently enjoying profits.
Closer look
Source: Digging deeper into the data, it becomes clear that the largest group of token holders experiencing losses acquired ADA at prices ranging from $1.62 to $2.97, encompassing 686,110 addresses. Additionally, the most significant number of ADA tokens currently in a loss-making position was purchased in the range of $0.375 to $0.43, totaling a substantial 8.85 billion tokens.This four billion ADA roadblock presents a critical juncture for Cardano's price trajectory. If it fails to breach this threshold, downward pressure may persist, further adding to the concerns of those holding the cryptocurrency.