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A leading blockchain analytics firm says that a huge percentage of Cardano (ADA<\/a>) and Polygon (MATIC<\/a>) holders are underwater.<\/p>\n According to IntoTheBlock, 94% of the holders of Ethereum (ETH<\/a>) competitor Cardano are sitting<\/a> on losses, just 5% are profitable and 1% are breaking even.<\/p>\n Cardano is trading for $0.25 at time of writing, down 91.73% from its all-time high of $3.09 which it hit on September 2nd, 2021.<\/p>\n According to the analytics firm, 95% of the holders of the Ethereum scaling solution Polygon are at a loss<\/a>, 4% are profitable and 1% are breaking even.<\/p>\n Polygon is worth $0.54 at time of writing, down 81.48% from its all-time high of $2.92 recorded on December 27th, 2021.<\/p>\n Nearly all the holders of ETH rival Avalanche (AVAX<\/a>) are at a loss<\/a>, according to IntotheBlock.<\/p>\n Some 99% of AVAX holders are underwater and 1% are breaking even.<\/p>\n Avalanche is trading for $9.92 at time of writing, down 93.16% from its all-time high of $144.96 printed on November 21st, 2021.<\/p>\n Other crypto projects that have a huge number of their investors seeing red include the layer-2 scaling solution Arbitrum (ARB<\/a>), blockchain-based game Axie Infinity (AXS<\/a>), fan-focused crypto project Chiliz (CHZ<\/a>), native token of the Bored Ape Yacht Club ApeCoin (APE<\/a>), decentralized virtual world The Sandbox (SAND<\/a>) and proof-of-stake protocol Algorand (ALGO<\/a>).<\/p>\n According to IntoTheBlock, 100% of the holders of Arbitrum<\/a>, Axie Infinity<\/a>, ApeCoin<\/a> and Algorand<\/a> are all underwater.<\/p>\n Arbitrum is trading for $0.88 at the of writing, down 89.80% from its all-time high of $8.67 registered on March 23rd, 2023.<\/p>\n Axie Infinity is worth $4.49 at time of writing, down 97.27% from its all-time high of $164.90 which it hit on November 6th, 2021.<\/p>\n ApeCoin is trading for $1.39 at time of writing, down 94.79% from its all-time high of $26.70 reached on April 28th, 2022.<\/p>\n Algorand is worth $0.0917 at time of writing, down 97.42% from its all-time high of $3.56 recorded on June 20th, 2019.<\/p>\n According to the analytics firm, 95% of Chiliz holders are sitting on losses<\/a> while 3% are profitable and 2% are at even money.<\/p>\n Chiliz is trading for $0.0599 at time of writing, down 93.19% from its all-time high of $0.878 printed on March 13th, 2021.<\/p>\n Meanwhile, IntoTheBlock reveals that 98% of The Sandbox holders are in the red<\/a> while 2% are sitting on profits.<\/p>\n At time of writing, The Sandbox is worth $0.30, down 96.37% from its all-time high of $8.40 which it hit on November 25th, 2021.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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