Cardano’s (ADA) price has largely noted whiplash since the early June crash. While there have been moments of recovery, the general trend has been bearish.
To make this worse, nearly $3.3 billion worth of profits are on the line, but ADA investors’ optimism could save them.
Cardano Investors Hope for Recovery
Cardano’s price is exhibiting signs of further drawdown, with the altcoin already noting a 2.2% decline today. The concern here is much larger than before, as billions of dollars worth of ADA could lose its profitability.
According to the Global In/Out of the Money (GIOM) indicator, earlier this week, 3.7 billion ADA worth about $1.4 billion turned loss-bearing. This supply was bought between $0.39 and $0.41, which ADA fell through after losing the support of $0.40.
Now another 5 billion ADA worth $1.9 billion is on the verge of witnessing a similar fate. This supply was bought at $0.36 and $0.39. Trading at $0.38,…
