Cardano holders are panicking, selling pressure could be triggered

Cardano holders are feeling the pressure as the price of the cryptocurrency continues to decline. The past month has seen ADA experience a 15% drop, bringing it close to its lowest point in a year. This downward trend has led to an increase in the number of daily active addresses in loss, indicating that investors may be panicking and looking to offset their losses. Additionally, with the uncertainty surrounding the upcoming U.S. presidential elections, Cardano’s bearish momentum could be further exacerbated. Data shows that only 17% of ADA holders are currently in profit, while the majority are suffering losses. Furthermore, the recent unlocking of ADA tokens, as well as their integration with BitcoinOS’ Grail Bridge, have added to the negative sentiment surrounding the asset. Despite these challenges, there is still potential for Cardano to rally if certain conditions are met.