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The digital currency ecosystem is exhibiting one of its most volatile sessions in months, and among the major altcoins, Cardano (ADA), Avalanche (AVAX), and Lido DAO (LDO) deserve special attention. The reasons for this presentation do not depend on the current price outlook, but rather on some other key metrics on the chain and the fundamental prospects of the projects.
To start, Cardano is currently down 5.07% to $0.3719, Avalanche has retreated and is down 6.59% to $22.06, while Lido DAO is down 11.32% to $2.16 Dollars. Despite this slowdown, IntoTheBlock data shows that the number of profitable wallets for each of these altcoins has improved dramatically.
The most shocking of the trio is Cardano and Avalanche, both of which recorded a drop that caused concern a few months ago. Cardano’s losses as of October 10 were 94%, but this figure has fallen in the space of a month, with only 62.5% now remaining below their entry points.
Avalanche’s profitability also skyrocketed from 99% of its addresses at a loss as of August 23 of this year to just 26% at a loss, according to current data from IntoTheBlock. Lido DAO is the most attractive of the trio, with over 53% of its addresses currently making profits.
Foundations and community drive
An underlying factor that underlines the link between these three altcoins is that they all offer a revolutionary trading proposition.
While Cardano is a formidable Layer 1 protocol with new innovations like Midnight, Avalanche made headlines for appearing in a JPMorgan experiment, a massive endorsement that boosted its sentiment. Lido has enhanced its influence as a liquid betting platform, offering investors a flexible means to capitalize on the growing decentralized finance (DeFi) ecosystem.
The last factor that sets these altcoins apart is their dedicated community. If not for the loyalty shown, the return to profitability as seen in ADA and AVAX would not have been possible.
