Altcoin Holders Facing Losses: What to Do Next
Are you an investor in Algorand (ALGO), Sandbox (SAND), or Arbitrum (ARB)? According to a recent analysis by IntoTheBlock, over 80% of these altcoin holders are currently experiencing losses. Specifically, a staggering 91% of Algorand holders are in the red, with Sandbox and Arbitrum not far behind, marking around 80% of their investors with depreciated portfolios.
The Trend of Loss-Making Accounts in Crypto Market
- Other cryptocurrencies like Axie Infinity (AXS), Chiliz (CHZ), Cardano (ADA), Aave (AAVE), Lido DAO (LDO), Uniswap (UNI), and Chainlink (LINK) also show a high percentage of holders at a loss, albeit to a lesser extent.
- The surge in loss-making accounts is attributed to the volatile nature of the crypto market, which has seen significant price fluctuations over the past months.
Opportunities Amidst Downtrends
Despite the concerning figures, there is a silver lining. IntoTheBlock suggests that assets like Algorand, Sandbox, and Arbitrum present potential opportunities for savvy investors, as long as they exhibit strong fundamentals and signs of on-chain activity and growth.
“These assets can present great opportunities, as long as they show strong fundamentals and signs of on-chain activity and growth,” IntoTheBlock emphasized.
Guidance for Investors
- Conduct thorough research and consider the long-term prospects of your investments.
- Understanding each altcoin’s underlying technology and market trends is crucial in navigating the ups and downs of the crypto space effectively.
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