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Average Network Returns for Traders in Negative Territory

Cryptocurrency Jun 12, 2022 07:00AM ET
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© Reuters. Average Network Returns for Traders in Negative Territory

  • Crypto’s biggest and top assets are seeing some trader pain once again.
  • The most hyped coin for the month, Cardano (ADA), has posted neutral 30-day returns.
  • The second biggest cryptocurrency by market capitalization, Ethereum (ETH), has entered into an opportunity zone.

On June 11, Santiment posted on Twitter (NYSE:TWTR) that crypto’s biggest and top assets are seeing some trader pain once again.

Top Market Cap 30-Day MVRV Comparison (Source: Santiment)

The major price pullback that altcoins have experienced in the last few days, as well as the mild drop in Bitcoin’s (BTC) price has resulted in the average network returns of traders dipping into negative territory.

The most hyped coin for the month, Cardano (ADA), has posted neutral 30-day returns. At the moment, ADA is worth $0.5078 after a 16.64% drop in price over the last 24 hours. The alleged Ethereum-killer also saw a 9.94% drop in price over the last week. ADA’s market cap is also down by 14.57% and currently stands at $17,230,896,286, according to CoinMarketCap.

Meanwhile, the market leader, BTC, and the native token for the Binance ecosystem, Binance Coin (BNB), are seeing negative returns. BNB saw a 12.19% drop in price and now trades at $254.14.

However, the second biggest cryptocurrency by market capitalization, Ethereum (ETH), has entered into an opportunity zone. ETH price is currently worth about $1,467.96 at the time of writing, after an 11.89% drop in drive over the last 24 hours. The crypto also saw an 18.09% price decrease over the last seven days.

With regards to market cap, ETH currently stands at $177,717,213,533, which is a 11.92% drop over the last day. ETH also saw a 24-hour trading volume of $27,009,416,858, which is 53.31% more than yesterday.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Average Network Returns for Traders in Negative Territory
 

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