Diamond Hands: Coinbase Data Shows Strong Accumulation Trend for $ADA Compared to Other Top Cryptos

Users of Nasdaq-listed cryptocurrency exchange Coinbase have an average holding time of over 125 days for Cardano ($ADA), better than most other top cryptocurrencies on the platform, as they stay HODLing through a bear market.

According to data shown on Coinbase’s price page, Cardano’s ADA has a typical hold time of 153 days, meaning that ADA users on the platform can “hold their assets longer before selling it or sending it to another account or address.” Keep it up for the time being.”

In comparison, data from the platform shows that its users investing in Bitcoin ($BTC) have a typical hold time of 130 days, while its users investing in Ethereum ($ETH) have a typical hold time. Time is 105 days. The usual hold time for investors in Solana ($SOL) is 100 days.

According to the cryptocurrency exchange, a longer hold time “indicates an accumulation trend,” while a shorter hold time “indicates an increased momentum for the token.” Notably, Coinbase launched ADA back in March, at which time the current staking APY was around 3.75%.

Data from the cryptocurrency exchange further shows that 93% of its users trading Cardano are buying cryptocurrency, while only 7% are getting rid of their holdings.

As CryptoGlobe reported, Cardano recently became one of the top 10 whale holdings on the BNB chain (formerly known as Binance Smart Chain) as investors bet on the cryptocurrency ahead of its much-anticipated Vassil hard fork. are.

The Vasil hard fork is a major upgrade that will include four Cardano Improvement Proposals (CIPs). Cardano creator Charles Hoskinson has said that the hard fork will provide “massive performance improvements”.

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Earlier this month, a panel of experts from the cryptocurrency industry predicted that the price of Cardano would rise to $2.93 by 2025 and $6.53 by 2030, although experts believe that by the end of the year, the cryptocurrency will only Will trade at $0.63.

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