- 88% of Cardano’s circulating supply is now in profit, signaling robust market momentum and potential selling pressure as holders may realize gains.
- If holders maintain their positions, ADA could break the $1.15 mark, with the possibility of a continued bullish trend, especially if the market sentiment remains strong.
According to recent Santiment data, ADA’s Market Value to Realized Value (MVRV) ratio has climbed to 76.2%, signaling potential overvaluation. This aligns with our previous update on Cardano’s price gaining momentum while RCO Finance prepares for a 35,402% surge by Q1 2025.
If holders decide to sell, they could realize an average profit of 76.2%, which may increase selling pressure on ADA’s price. According to CoinMarketCap data, ADA’s price has surged to $1.05, with a 5.92% increase in the past day and a 21.73% rise in the past week, reflecting broader positive market sentiment.
Interestingly, Cardano’s ADA has seen a 27% surge over the past week, driving 88.4% of its circulating supply into profit. At current prices, 32 billion ADA, valued at $31 billion, is now held at a gain. This marks a sharp increase from earlier in the month when only 40% of ADA’s supply was in profit.
While the rally underscores strong market momentum, it raises the risk of profit-taking as investors may be tempted to cash in.
Path to $1.15 Depends on Holder Restraint
If ADA holders resist selling, the coin could maintain its upward trajectory and potentially break above $1, reaching $1.15—a level not seen since April 2022. This would require continued market confidence and sustained buyer interest, countering the natural pull of profit-taking after a significant rally.
Cardano’s next move will likely depend on the balance between bullish momentum and selling pressure. Please note the Cardano Price Surge Prediction of 1,300%, as mentioned in CNF’s previous post, which also highlights Polkadot’s expected 1,800% jump, while Cybro targets a 6,500% rally in November.
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Source: https://www.crypto-news-flash.com/cardano-surges-to-new-highs-88-of-ada-supply-now-in-the-profit-zone/?utm_source=rss&utm_medium=rss&utm_campaign=cardano-surges-to-new-highs-88-of-ada-supply-now-in-the-profit-zone