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Although the recent bull market in the cryptocurrency sector has brought on massive profit s for investors in many crypto assets, Cardano (ADA) remains a mystery, with only 35% of its holders in the green – leaving traders to wonder whether this is an opportunity or a warning sign. Specifically, Cardano stands out among several top Layer 1 networks, including Bitcoin (BTC), Tron (TRX), Dogecoin (DOGE), Ethereum (ETH), and Avalanche (AVAX), with just over a third of its holders in profit, according to the recent data shared by blockchain analytics platform IntoTheBlock on April 24. Holders profitability on top Layer 1 networks. Source: IntoTheBlock Indeed, as the blockchain platform’s analysts explained, “Bitcoin remains king,” with Tron “being a close second,” while Dogecoin and Ethereum “also have the vast majority of holders in profit ,” which makes Cardano a curious exception to the recent trends and a profit ability puzzle. Picks for you Sell alert: Death c...

A savvy crypto trader has turned an initial investment of 81.158k Chainlink (LINK) into 641k USDC within a month , resulting in a $200k profit . According to a tweet by Spot on Chain, a trader has consistently demonstrated an ability to pinpoint the exact points to  ‘buy low and sell high,’ culminating in a $200K profit within just a month. The trade involved swapping 81.158k LINK for 641k USDC. A smart trader swapped 81.158K $LINK to 641K $USDC 2 hours ago and made a $200K profit in just 1 month. He is good at trading $LINK, always buying low and selling high at the right time, and made more than $1M in the past. Detail below pic.twitter.com/HAk41AgX4s — Spot On Chain (@spotonchain) July 28, 2023 The trader ’s success can be traced back to long-term investments in LINK. Accumulating 321.599k $LINK at an average price of $1.8 in 2018 and 2019 laid the foundation for future gains. In 2022, additional investments in LINK were made, leading to a substantial profit of...

Bitcoin short-term holders have been getting active, and their profitability may be underscoring current support and resistance levels, Glassnode reveals. Bitcoin (BTC) would need to return below $20,000 to reset a key metric which covers speculative profit - taking , data shows. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode revealed that short-term holders (STHs) may be dictating BTC price resistance. Profit-taking reinforces resistance levels As BTC/USD climbed towards $25,000, STHs — those holding coins for 155 days or less — began to see substantial returns on their investments. This was captured by the market value to realized value (MVRV) metric, which compares the Bitcoin market cap to the value of coins moved on-chain. “By comparing these two metrics, MVRV can be used to get a sense of when price is above or below ‘fair value,’ and to assess market profitability,” Glassnode explains in an accompanying guide. MVRV passed 1.2 on th...