ADA and These Altcoins Have No Profitable Investors Left! Listed on AVAX

Leading blockchain analytics firm IntoTheBlock has revealed the dire plight of altcoin investors. The crypto winter felt since November 2021 has reset the profits of some cryptocurrencies…

Altcoin investors are suffering, according to IntoTheBlock report

According to a new IntoTheBlock report, a large portion of Cardano (ADA) and Polygon (MATIC) investors are expecting losses. Accordingly, 94% of Cardano investors are at a loss. Only 5% of ADA traders see their positions in the green. The remaining 1% is neither in profit nor in loss.

The report shows the impact of altcoin projects like Cardano and Polygon on investors after the drop. Cardano, in particular, is going through an interesting period where the majority of its investors are at a loss. The current status of ADA investors is as follows:

Cardano is currently trading down 91.73% from $3.09, the ATH level it reached on September 2, 2021. The popular altcoin, which fell to 7th place by market value, is struggling to stay above $0.25.

Polygon (MATIC) investors also suffered huge losses

According to the IntoTheBlock report, 95% of MATIC investors expect losses. Only 4% of these wallets are in profit and 1% are at par. Polygon is currently trading down 81.48% from the $2.92 ATH level it recorded on December 27, 2021. Like ADA price, MATIC price is struggling to hold the critical $0.50 support.

Worst of all AVAX: Altcoin investors are all at a loss!

Almost all of Avalanche’s (AVAX) investors are at a loss, according to IntotheBlock. This rate has exceeded 99%, and only 1% is neither profit nor loss. Avalanche is currently trading at a 93.16% discount from its ATH level of $144.96, which it recorded on November 21, 2021. It has fallen below the psychological $10 support in the past weeks. The altcoin, which was once among the top 15, is about to move away from the top 20 with the last drop.

Here are other altcoin projects that wiped out gains

Other altcoin projects that many investors see in red include the layer 2 scaling solution Arbitrum (ARB). Blockchain-based game Axie Infinity (AXS) is one of the notable projects on the list. On-chain analyst Ali Martinez wrote about AXS from account X today:

Data from IntotheBlock shows that AXS 99.54% of all purchased/received addresses are currently out of money.

According to IntotheBlock’s report, altcoin projects that are currently hurting the majority of their investors are:

• Chiliz (CHZ)
• ApeCoin (APE)
• Sandbox
• Algorand (ALGO)

Latest on CHZ, APE, SAND and ALGO

According to the analytics firm, 95% of Chiliz investors are at a loss, 3% are in profit, and 2% are at par. Chiliz is currently trading at a discount of 93.19% from the March 13, 2021 ATH level of $0.878. 98% of sandbox investors are in the red zone and only 2% are in profit. As Kriptokoin.com reported, the latest token unlock events have triggered additional selling pressure on prices.