Cardano's ADA token has broken the profits mark1, increasing profits and potential for further growth
ADA #token , Cardano's own token, has broken a major price barrier, breaking the significance 2 mark for the first time in 1 year.
#ADA is currently trading at 1.09 and is up 23% in just 24 hours, while trading volume is up 83% over the same period. This strong upward momentum suggests that the rally may continue as buying pressure intensifies.
When ADA breaks above the mark1, many holders take profits. According to IntoTheBlock's Global Profit/Loss Indicator, 71% of ADA holders, equivalent to 3.15 million addresses, are now "in the money, meaning their shares are worth more than the price at which they were bought.
However, about 16% of ADA holders, or 715,230 addresses, are "out of the money, so selling them at the current price would be unprofitable, as ADA bought the token when it went above 1.40. Interestingly, the price increase has prompted long-term holders to start transferring assets. This was evidenced by a sharp jump in the ADA Age Consumer Index, which hit a one-month high of $11.22 billion to $869.1 billion for the year, indicating a potential trend reversal.
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