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.