According to a study by the cryptocurrency analytics platform Santiment, about 95% of all bitcoins (BTC) in circulation are in profit. This significant number contrasts with other leading cryptocurrencies like Cardano (ADA), which ranks sixth in market capitalization.
Overview of Cryptocurrency Profits
Santiment presented a chart tracking the percentage of total supply that is currently in profit among the six top cryptocurrencies over time. The latest data indicates BTC showcases a high percentage of 94.5%, indicating a large number of holders are experiencing profits.
Comparison of BTC and ADA
On the other hand, Cardano shows a much lower figure at 46.5%. This implies that the majority of ADA holders are facing losses as the market price is below their acquisition costs. Santiment highlights this critical distinction between BTC and ADA in terms of investor profitability.
Future Prospects of Cardano
Despite Cardano's disappointing performance, Santiment sees potential for recovery and growth, especially if the cryptocurrency market enters another bullish phase. Cardano continues to make technological advancements, including the recent release of node v.10.4.1, which introduced the UTXO-HD feature, marking significant progress for the blockchain.
The market analysis indicates that while BTC sees significant success, Cardano holds promise for future growth if market conditions become favorable for it.
