On Wednesday (August 17), Dan Gambardello, founder of Crypto Capital Venture and host of the massively popular YouTube series “Crypto Capital Venture,” broke down his obsession with the Cardano ($ADA) cryptocurrency and why it matters to him so much.
He told nearly 233K Twitter followers earlier today: It comes as no surprise that Cardano has the most enthusiastic Twitter community, as yesterday Gambardello held a Twitter pool to determine whether or not the Cardano group is more concerned with Cardano’s principles or the $ADA price.
An interesting on-chain measure for Cardano ($ADA) was examined in greater detail by the cryptocurrency analytics company Santiment on Tuesday, August 16th. The parameter in question was called “Proportion of Everyday On-Chain Volume Of transactions in Profit to Loss.”
According to Santiment, the following describes the set of indicators surrounding “Transaction Volume in Profit or Loss”:
“These measurements reveal the total number of coins or tokens exchanged for gains or losses for a specific asset during a specified time period across the whole network. Measures exist that compare the volume of profitable transactions against the volume of unprofitable ones.”
The relation of daily on-chain transaction volume to profit and loss is a new measure established by Santiment. Financial assets that are subject to a large number of profit-taking trades are more likely to experience “short-term price movement.”
According to data from TradingView, $ADA is currently (as of 17 August, 9:40 UTC) trading around $0.535, down 4.62 percent in the last 24 hours.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.