More Than 60% of Shiba Inu, Cardano and Polygon Holders Nursing Losses Amid Weak Crypto Bounce – Analytics Firm


A leading analytics firm says the majority of Shiba Inu (SHIB), Cardano (ADA) and Polygon (MATIC) holders are still losing money on their investments despite a small boost in the crypto markets this week.

In a new blog post, IntoTheBlock says Cardano holders are doing the worst out of the three, with about 82% of ADA holders currently losing money.

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Cardano is trading at $0.839082 at time of writing. The 9th-ranked crypto asset by market cap is up more than 4% in the past 24 hours.

Next up, about 61% of traders who hold MATIC, the native token for blockchain scaling solution Polygon, are currently losing money on their investments. The 18th-ranked crypto asset by market cap is up 5.4% in the past 24 hours.

The same percentage of crypto traders are also losing money on the popular memecoin Shiba Inu. The 15th-ranked crypto asset by market cap is up to $0.000023 at time of writing, up over 3% in the past 24 hours.

Conversely, 56% of traders holding the other popular memecoin, Dogecoin (DOGE), are currently making money on their DOGE investments. Dogecoin is trading at $0.117194 at time of writing, up nearly 1.5% in the past 24 hours.

The top two crypto assets by market cap are also making money from investors. About 71% of ETH and 66% of Bitcoin (BTC) traders are up on their investments currently, according to IntoTheBlock.

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Ethereum is trading at $2,774.25 at time of writing, up 1.79% in the past 24 hours. Bitcoin is trading at $41,120.06 at time of writing, down nearly 1% over the same period.

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