Who's buying the dip as Cardano sentiment hits 5-month low?

The altcoin bullish rally fell flat as the leader, Ethereum, witnessed heavy selling pressure after hitting a fresh all-time high (ATH). Amid this, Cardano’s retail investors are growing pessimistic just as large holders appear to be buying the ￰0￱ shows that market sentiment around ADA dropped to its lowest level in five ￰1￱ cumulative digital assets market is witnessing mixed reactions from ￰2￱ are buying the dip while others are selling at the ￰3￱ fear and greed index is flashing “Neutral” sentiments while tilting towards fear. However, Bitcoin dominance dropped by over 3% in the last 24 hours to hover around 57%, suggesting that altcoin season is still ￰4￱ eye Cardano as traders exit Data shared by Santiment shows that Cardano investors were among the worst hit when Bitcoin price took a ￰5￱ the last month, ADA price traded around the $0.7 zone and went on to breach the $1 mark.

However, the bullish attitude soon faded, and it dipped back again to $0.8 ￰6￱ price is up by 10% in the last 30 days and 42% over the past 60 days, but over the last 7 days, it dropped almost 6%. ADA is trading at an average price of $0.81 at press ￰7￱ is still lagging behind by 73% from its ATH of $3.10, recorded on September 2, ￰8￱ 24-hour trading volume is down by around 30% to stand at $850 ￰9￱ is a divergence that analysts say often precedes ￰10￱ typically move in the opposite direction of the crowd’s ￰11￱ analyst noted that when smaller traders capitulate out of frustration, that’s typically when deeper-pocketed investors step ￰12￱ clears Cardano voucher program The network itself has shown unusual ￰13￱ the past week, Cardano processed more than $5.3 billion in transactions, making it one of its busiest weeks of ￰14￱ flagged the combination of higher active wallet addresses and growing open interest in futures markets as signs of deeper ￰15￱ community believes a push toward $1.00 is on the ￰16￱ to the backdrop, Input Output Global (IOG) released the results of a months-long forensic audit into Cardano’s voucher ￰17￱ was the mechanism used to distribute ADA before its 2017 ￰18￱ 128-page report, conducted by law firm McDermott Will & Schulte alongside accounting firm BDO, found no evidence of manipulation or ￰19￱ audit followed allegations earlier this year that founder Charles Hoskinson had misused a “genesis key” during a 2021 hard fork to seize hundreds of millions in ￰20￱ confirmed that 99.2% of all vouchers had been redeemed by mid-August ￰21￱ represents 99.7% of the ADA originally ￰22￱ small remainder was legally transferred to a Cayman foundation for ecosystem development and community governance ￰23￱ Difference Wire helps crypto brands break through and dominate headlines fast