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TheNewsCrypto

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Cardano’s Rally Creates Profit-Taking Pressure as 88% of Supply Turns Profitable

  • Cardano (ADA) has experienced a remarkable transformation in its market dynamics with a 27% weekly surge.
  • 88.40% of the entire circulating supply of ADA tokens, valued at approximately $31 billion, is in profit-making positions.
  • The Market Value to Realized Value (MVRV) ratio currently stands at 76.20%, potentially indicating overvaluation.
  • ADA's critical support level at $0.93 will determine its next major move, with a breach potentially leading to a decline towards $0.79.

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