market that started at the beginning of this week seems to be ending, with the majority of assets tumbling to their lows despite the positive price performance after the dust around FTX settled. However, assets like Aptos are still showing some significant gains despite the poor state of the market overall.
However, a significant volume of tokens in the hands of institutional investors is not a positive factor for Aptos and will most likely backfire in the future if the token succeeds on theThe bottoming of Cardano was just a matter of time as prominent Ethereum competitors had been constantly struggling on the market due to the lack of inflows to the assets.
ADA remains one of the least profitable assets on the cryptocurrency market. On data from back in August, fewer than 20% of all Cardano holders were profitable despite its relatively neutral performance on the market.Such a dynamic shows that most investors have entered ADA at around local tops and could not break even after it. At press time, ADA is trading at $0.31 and has already reached the local bottom, which it successfully tested back on Nov. 10 and 14.
Unfortunately, the lack of trading volume could be a grim sign of a consolidation rather than an immediate bounce that investors may expect after the 15% recovery we already witnessed on Nov. 10.