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Cardano: Why holders don’t want to sell ADA yet

2min Read

Over 23% of Cardano holders have held their ADA for over five years despite the price volatility.

Long-term Cardano holders dominate: How have they weathered market variations?

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  • Over 20% hold on to ADA despite price trends.
  • ADA sees the highest increase in months as it rallies.

Despite variations in Cardano’s [ADA] price over the years, dipping to some lows at certain points, recent data indicates that over 20% of holders have retained their ADA. How have holders in this category fared?

Long-term Cardano holders dominate

According to a recent post by IntoTheBlock, 23% of Cardano holders have held their ADA for more than five years. The data analysis showed that the number of ADA  in this category was over 7 billion.

Additionally, the analysis of holders revealed that this category had the highest percentage, with the second-highest category being holders in the six to twelve-month range, representing 19.7%.

Analysis of the Cardano Total Amount of Holders on Santiment showed that there has been no significant trend in the past months.

Although there has been an increase, the move up was slow over the past few months, with the number of holders remaining in the 4 million range. At the time of this writing, the holders were around 4.5 million.


Cardano total number of holders

Source: Santiment

Furthermore, an analysis of the Cardano five-year Market Value to Realized Value ratio (MVRV) showed that these holders were holding at a loss.

The chart revealed that this category’s last profit was in December. During this period, the MVRV rose to over 18% at one point before dropping below zero around 3rd January.

As of this writing, it was over -5%, indicating that the holdings suffered over 5% decline in value.

Cardano 5-year MVRV

Source: Santiment

ADA attempts to rally 

An analysis of the Cardano daily timeframe provides insights into the positive phase of the five-year MVRV. The chart showed that during the period in December and January, the price of ADA was around the $0.6 price range.

As the price declined from this range, ADA flipped its support level (yellow line) into resistance. 

Cardano daily timeframe price trend

Source: Trading View


 How much are 1,10,100 ADAs worth today


However, a recent rebound has occurred, with ADA experiencing consecutive uptrends. The chart showed that these uptrends, less than 1%, started around 5th February, before experiencing a more significant increase of over 5% on 8th February.

At the end of trading on 8th February, the price had risen by around 5.3%, and ADA traded at around $0.531. At the time of this writing, the uptrend, though less than 1%, continued. ADA was trading at about $0.535.

 


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Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations. Besides working on insightful articles that touch upon the crypto-space's hottest issues, he finds joy in supporting Manchester United and Afrobeat music.
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