For all its recent progress, Cardano<\/a> continues to divide opinion in the crypto-space even after 3 years of its existence. While some consider it an \u2018Ethereum<\/a> killer,\u2019 others refrain from even acknowledging it. Community opinions aside, its true potential can be calculated by what the numbers and on-chain metrics show. <\/span><\/p>\n Having said that, might the altcoin be heading for a rally?<\/span><\/p>\n For the first time in a long time, the answer isn\u2019t whales or spot traders. Since the beginning of July, major whales (holding ADA worth more than $5 million) have been pulling out of the market. In the last 30 days, over 300 whale addresses have been removed from HODLers\u2019 equation. <\/span><\/p>\n Additionally, Long-term HODLers too have been pushed out of the market.<\/span><\/p>\n Cardano Whales\u2019 movement<\/em> | Source: Santiment \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n Now, 1-year HODLers had been dominating the market a year ago. Back in July 2020, this section of holders shared a 46% dominance in terms of ownership. Since then, however, this number has come down. It was a mere 9% over the last month. What\u2019s more, with LTHs out, a new section of HODLers has taken their place \u2013 The Cruisers.<\/span><\/p>\n Cardano Ownership by Time held<\/em> | Source: Intotheblock \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n Cruisers are the mid-term holders who currently hold a solid 75% dominance in the ownership market. Over 1.52 million addresses are those who have held ADA for anywhere between 1 month to a year. These addresses started climbing around January and picked up a serious pace.<\/span><\/p>\n In the last 6 months alone, Cruisers\u2019 participation has gone up by 1.2 million from 350k. Furthermore, the average time ADA is being held in wallets rose to 6.1 months<\/a> too<\/span>, a sign of Cruisers\u2019 current domination.<\/span><\/p>\n Cardano Cruisers (mid-term holders) rise<\/em> | Source: Intotheblock \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n Simply put, ADA appears to be pretty profitable right now. In the last 11 days, its price rose by <\/span>28.59%<\/span><\/a> to trade at $1.3 at the time of this report. The Break-Even Price chart which shows the price the asset would need to reach for the address to break even underlined major profits at the time too.<\/span><\/p>\n Over 65.57% of total addresses, up to 1.38 million of them, are currently in profit. Adding to this bullish narrative is the average sentiment<\/a> which has been fairly positive lately, when compared to the last 50 days.\u00a0<\/span><\/p>\n Cardano Break-Even Price<\/em> | Source: Intotheblock \u2013 AMBCrypto<\/a><\/p>\n<\/div>\n All in all, it is very clear that recent rallies have been strongly supported by Cruisers (mid-term HODLers). Going forward, if their dominance continues, ADA could see more stable price movement as well. <\/span><\/p>\nWho\u2019s HODLing Cardano?<\/strong><\/h4>\n
![\"\"](\"https:\/\/files.ambcrypto.com\/wp-content\/uploads\/2021\/08\/01200728\/whales.png\")
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<\/a><\/p>\nCardano\u2019s profitability<\/strong><\/h4>\n
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