Investing.com – admittedly managed to rally further from its recent low, but on a weekly basis the loss is still over 14%.
Some data on the channel indicates that the biggest investors are losing interest in this project. The number of whales possessing between 1 million and 10 million ADA has increased from 2,589 to 2,540 in the past two weeks, as reported by FXStreet.
At the same time, the number of investors holding between 100,000 and 1 million tokens decreased from 127,600 to 121,500, while the value of investors holding between 10,000 and 100,000 tokens decreased from 22,500 to 20,500. .
Alongside this negative development, however, there is also positive news. The number of Cardano wallets crosses the 3.6 million mark and the community of the ADA subsite also continues to grow and will welcome soon its 700,000th user.
The blockchain meltdown has sparked new rumors that Cardano is a full-scale scam. The fact that the blockchain is valued at $19.5 billion, while the value of the DeFi ecosystem is only $137 million, was used as a clue.
IOHK CEO Charles Hoskinson retort that Cardano had no secrets and that there could be no question of any scam.
Cardano Technical Course Marks
Cardano continues to struggle to consolidate its recovery from its recent low of $0.4033. The 23.6% Fibo retracement of $0.6015, however, offers a strong resistance that has already been tested several times, but could not be overcome sustainably.
While this is the case, further losses should be expected towards the psychological mark of $0.5000 and the recent low.
If the bulls manage to overcome this resistance, the upward correction may extend towards the 38.2% Fibo retracement of $0.7241.
By Marco Oehrl