crypto analyst says people are less interested in Cardano

The InvestAnswers host shared his stance on Cardano’s native token ADA and said that people are not seeing Cardano as a promising asset right now. 

Cardano is a popular crypto asset of the crypto industry, after Bitcoin and Ethereum like king coins. But the last few months were not good for this coin because this coin is not getting better support in terms of price value. However, the developer team of the Cardano project is doing new development work to make the Cardano as a best Blockchain network in the crypto industry, but still, the Cardano (ADA) failed to gain stability in its price. 

In the latest, a popular crypto analyst and host of InvestAnswers YouTube channel shared many facts about the plunge in the price of ADA coins.

The analyst noted the graph of Cardano holders versus speculators and this blockchain data is stranger than what we expected. This is giving a clear sign that people are less interested in Cardano for the long term. By data, only 6.5% of people are holding Cardano (ADA) for more than a year. 

“but I was stunned by how low a percentage of the long-term holders of Cardano was, very, very strange. 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.”

So Cardano’s ADA is much far from Ethereum, which has around 60%, long-term holders. 

The analyst also figured out that ADA has a critical issue because of very few active addresses. He said that there is no doubt that the Cardano blockchain has 3 million addresses of ADA holders but only 4% of them are active right now. 

On the other hand, Ethereum has 66 million addresses and the majority of addresses have activities, despite having Ethereum holding for the long term. 

On the internet-based popularity, Analysts found that retail investors are showing very little interest in this coin. According to google trend records, the search frequency of Cardano and its native token ADA is very low over the last 12 months. 

Besides all these things, Crypto analysts believe that ADA will do something better and with its support price $1.20, it can surge by around 580%.

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