​​Cardano (ADA) price loses ground despite rising profitability
The market is experiencing strong volatility today for Cardano (ADA), which is losing its overnight gains amid a broader market drawdown.

Cardano's growth has been volatile since the start of the week. If it recently soared to $0.5277, over the past 24 hours its price fell by 4.74% and reached $0.5053.

Market capitalization also fell 4.7% to $17,859,982,110, while trading volume fell 15.92% to $450,578,735.

After more than two weeks of slow price action, Cardano formed a falling wedge accompanied by a move reminiscent of a bullish reversal. Feeling the positive momentum, the bears entered the market again.

Profitability doesn't deter bears
Cardano bulls are less active when broader market sentiment is unfavorable. On the other hand, some investors tend to take profits after every minor price jump, a trend that has become cyclical recently.

Data from cryptanalytic platform IntoTheBlock (ITB) has shared an intriguing insight into the behavior of various traders in the ecosystem.

The platform estimates that Cardano addresses are profitable at 44.99% or approximately 2,000,000 addresses. The number of wallets suffering losses is 52.15% - 2,330,000 addresses. Moreover, wallets at the break-even point are 127,870 or 2.7%.

Prior to this, the percentage of ADA traders in profit was not that high, indicating a rare improvement in the market, where there are many alternative options for advice. Despite these promising trends, ADA is still struggling to maintain the $0.51 level as its major support level.

Cardano - ATH, Wen?
Given Cardano's unsustainable growth, hopes of retesting the $3.10 price level are growing more serious. In this regard, The Crypto Basic consulted with ChatGPT and Google Bard regarding the possible timing of ADA's return to its historical ATH.

While ChatGPT believes that the ATH could be achieved in the next 6-12 months, Google Bard stated that this milestone will not be realistic until 2025.

@neurocrypto
​​Cardano (ADA) price loses ground despite rising profitability The market is experiencing strong volatility today for Cardano (ADA), which is losing its overnight gains amid a broader market drawdown.

Cardano's growth has been volatile since the start of the week. If it recently soared to $0.5277, over the past 24 hours its price fell by 4.74% and reached $0.5053.

Market capitalization also fell 4.7% to $17,859,982,110, while trading volume fell 15.92% to $450,578,735.

After more than two weeks of slow price action, Cardano formed a falling wedge accompanied by a move reminiscent of a bullish reversal. Feeling the positive momentum, the bears entered the market again.

Profitability doesn't deter bears
Cardano bulls are less active when broader market sentiment is unfavorable. On the other hand, some investors tend to take profits after every minor price jump, a trend that has become cyclical recently.

Data from cryptanalytic platform IntoTheBlock (ITB) has shared an intriguing insight into the behavior of various traders in the ecosystem.

The platform estimates that Cardano addresses are profitable at 44.99% or approximately 2,000,000 addresses. The number of wallets suffering losses is 52.15% - 2,330,000 addresses. Moreover, wallets at the break-even point are 127,870 or 2.7%.

Prior to this, the percentage of ADA traders in profit was not that high, indicating a rare improvement in the market, where there are many alternative options for advice. Despite these promising trends, ADA is still struggling to maintain the $0.51 level as its major support level.

Cardano - ATH, Wen?
Given Cardano's unsustainable growth, hopes of retesting the $3.10 price level are growing more serious. In this regard, The Crypto Basic consulted with ChatGPT and Google Bard regarding the possible timing of ADA's return to its historical ATH.

While ChatGPT believes that the ATH could be achieved in the next 6-12 months, Google Bard stated that this milestone will not be realistic until 2025.

@neurocrypto