89% of Holders of Gary Gensler’s Praised Token in Loss, Just 8% See Profits
- Algorand holders face significant losses, with a staggering 89% underwater.
- Only 8% of investors in ALGO are currently in profit at its price of $0.1818.
- Gary Gensler previously praised Algorand, helping the asset reach $3.56 ATH.
As the crypto market experiences a downturn, crypto investors feel the heat, particularly those holding Algorand (ALGO), Gary Gensler’s praised project. Data from the analytics platform IntoTheBlock shows that 89% of ALGO holders are at a loss. These investors are “out of the money,” meaning the overwhelming majority of ALGO investors hold the asset below the price they first bought them.
ALGO trades at $0.1818 at press time, with a 5% gain in the last 24 hours. At this market value, only 8% of Algorand holders are profitable. In parallel, 3% are at break even, neither bearish making profit or gains.
Remarkably, among the cryptocurrencies monitored by IntoTheBlock, ALGO stands out as having the highest percentage of holders in a loss position.
Furthermore, IntoTheBlock statistics indicated that at least 83% of these Algorand investors are long-term investors holding the asset for more than a year.…
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