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Crypto Analytics Company: Cardano shows its April a positive mood

admin by admin
August 19, 2022
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Crypto Analytics Company: Cardano shows its April a positive mood
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The crypto analysis company Santiment has taken a close look at an interesting on-chain metric for Cardano, namely the “Ratio of Daily On-chain Transaction Volume in profit to Loss”.

“These metrics show the total amount of coins/tokens across all transactions on the network that have made a profit or loss for a particular asset in an interval. There is also a metric that represents the ratio between transaction volume in profit and transaction volume in loss.“

As the company explained in May, when it introduced the “Ratio of Daily On-Chain Transaction Volume in Profit to Loss” metric, assets that have a high ratio of profit-taking have higher probabilities of short-term price declines. Traders in losing positions, on the contrary, have a higher probability of short-term price jumps.

Santiment has tweeted that the ratio of on-chain transactions as profit-taking vs. selling at a loss is at the highest level of profit-taking since the last week of March, suggesting that traders need to be careful.

“The #Cardano mood is rather positive at the moment and prices have risen by +22% in the last 3 weeks. The ratio of on-chain transactions as profit-taking vs. sales at a loss is at the highest level of profit-taking since the last week of March.”

 

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