Diamond Hands: Cardano ($ADA) Median Hold Time on Coinbase Nears 200 Days
As the cryptocurrency industry continues to expand, investors are becoming increasingly aware of the importance of Diamond Hands – or holding onto their investments for extended periods. This is especially true when it comes to Cardano (ADA), one of the leading cryptocurrencies in terms of market capitalization and daily trading volume. According to data from Coinbase Pro, median hold time for ADA has now exceeded 200 days!
This impressive milestone speaks volumes about how seriously investors have taken their commitment towards long-term investing in ADA. By holding onto their coins over such a long period, they’ve been able to reap significant rewards as prices began rising steadily since mid-2020 and continue doing so even today. For example, if an investor had purchased 1 BTC worth of ADA at its lowest point this year (in April 2020) they would have seen gains exceeding 400% as we approach 2021!
With more than 2 billion coins currently circulating across various exchanges and wallets worldwide; it seems that confidence amongst traders is growing with each passing day due largely in part due to increased institutional involvement from major financial players like Fidelity Investments & JP Morgan Chase who recently announced support for crypto assets including Bitcoin & Ethereum respectively . Moreover , with recent developments like Shelley mainnet launch being completed successfully ; Cardano appears primed for further growth which could explain why holders are opting not only stay invested but also increase positions .
As we look ahead into 2021 , there will likely be many more exciting updates related both directly & indirectly linked with blockchain technology which could potentially drive up demand even further . Therefore , those looking at entering into position should do so cautiously after carefully considering all available options while keeping risk management strategies firmly entrenched within portfolios !