New Cardano Warning Is Issued For 2022 | CryptoGazette
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Cardano is in the news again following the latest predictions and warnings that are floati9bg into the crypto space. Check out the latest warning about ADA below.
New ADA warning is out
A closely followed crypto strategist has just issued a warning to Cardano (ADA) traders and investors as well.
He said that ADA is flashing signs of fundamental weakness.
In a new video, he said that he’s looking at the holders versus speculators chart of Cardano, and the data does not look promising for the smart contract platform.
“When you a look at Cardano holders versus speculators, and this is blockchain data, and I assume it is completely correct, but I was stunned by how low a percentage the long-term holders of Cardano were, very, very strange.”
He also revealed:
“Only 6.95% of Cardano holders hold Cardano [for] more than one year. Think about that. 70% are cruisers. That means they’ve had it for 12 months or less and 25% [are] active traders.”
He continued and said:
“So let’s maybe put this in comparison to Ethereum… Ethereum is 60% long-term holders.”
As the online publication the Daily Hodl notes, Cardano’s number of active addresses is another red flag for the crypto.
“Now let’s look at active addresses. Another interesting statistic you need to dig into. It’s not only the number of addresses, the chain has three million addresses, but those that are active is only 4%. And remember when you put things in perspective again to Ethereum, they have 66 million addresses. And despite a huge amount of long-term holders, they have good levels of activities as well.”
He also checked out Google trends, and said that retail investors are currently showing very little interest in the sixth-largest coin.
“So let’s look at Google trends. Do people care about Cardano? Google trends, globally, over the last 12 months, we are back to one-year lows. And that means nobody seems to be interested in Cardano.”
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