Cardano (ADA) has seen a notable increase in the percentage of holders experiencing losses compared to other major layer-1 networks, raising concerns about immediate demand and overall market stability.

Data from IntoTheBlock indicates that 35% of ADA holders are waiting for positive returns, a lower figure compared to Bitcoin (BTC) and Ethereum (ETH) holders. Despite being the 10th largest cryptocurrency by market cap, ADA has shown sluggish price movements, declining by 28% over the past month and nearly 22% year-to-date.

This decline has impacted ADA's market position, with other cryptocurrencies like Dogecoin (DOGE) and Toncoin (TON) gaining prominence. The recent peak in ADA's price followed by a downtrend has led to an average unrealized loss of 15.71% across the network, contributing to market volatility and investor uncertainty.

While reduced prices may incentivize additional ADA purchases, sentiment data suggests that investors are cautious, with large owners losing market share and a reluctance to buy at lower prices.

Despite these challenges, optimistic ADA holders anticipate a potential supercycle, with experts predicting a surpassing of its all-time peak in 2025, drawing comparisons to its performance following the 2020 halving event.