CandleFocus Cardano holders are panicking, selling pressure could be triggered
2024-10-28
Author: Content Editor
Summary:
Cardano's price has been decreasing since March and is approaching its one-year low. On-chain indicators show potential selling pressure, with the number of daily active addresses in loss increasing. The market-wide uncertainty ahead of the U.S. presidential elections may also contribute to Cardano's bearish momentum. Currently, only 17% of ADA holders are in profit, and the ADA token unlocks add to the negative sentiment. Despite these challenges, Cardano recently announced the integration of BitcoinOS' Grail Bridge, which could allow Bitcoin holders to make transactions to other networks using a zero-knowledge mechanism.
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