Author: Monicah W

Ethereum Layer 2 Arbitrum Unveils New Chain For RWA: Details

Monicah W

Ethereum Layer 2 Arbitrum Unveils New Chain For RWA

Ethereum Layer-2 protocol Arbitrum has launched Converge, a new blockchain designed to serve as a settlement layer for tokenized real-world assets (RWAs) and on-chain finance. Created by Ethena Labs and Securitize, Converge aims to bring billions of dollars in stable assets into decentralized finance (DeFi).

Arbitrum Converge: Key Details to Note

The Ethereum layer-two (L2) scaling solution revealed that Converge was specifically developed to support the tokenization of real-world asset and related financial applications. 

Per the update, the network will use Celestia’s modular data availability layer, which ensures faster, more reliable data processing. Two key stablecoins, USDe and USDtb, will serve as gas tokens, providing stability in transaction fees.

Initially, the chain will operate with 100ms block times, with upgrades planned to bring block times down to just 50ms. Validators will secure the network using sENA. In addition to this, Converge will host major decentralized finance applications. These include DApps such as Ethereal DEX, with plans for more appchains.

Furthermore, the planned Stylus upgrade will allow developers to write smart contracts using Solidity, Rust, C, and C++. This broader programming language support ensures more efficient and scalable application development. 

The assets of Ethena Labs, worth $5 billion, and those managed by Securitize, totaling $2 billion, will be moved onto Converge. Per the design, this will significantly boost its liquidity.

Ethereum Layer 2 and Competition

Beyond Arbitrum, it is worth noting that Layer 2 solutions have seen growing adoption. For example, Ethereum Mainnet averaged just 14.10 User Operations Per Second (UOPS) last year. 

In comparison, Base achieved 83.99 UOPS, peaking at 155.44 on January 1, 2025. It processed over 221 million operations in 30 days, the highest among L2 networks per L2Beat data.

Arbitrum One recorded a 35.9% decline in 30-day usage, with current UOPS at 21.71. Despite this, the network’s infrastructure remains a strong contender, and rollup activity saw a surge towards the end of 2024, showing growing trust in L2 solutions.

Arbitrum Price Outlook

Recent reports indicate that U.S.-based trading platform Robinhood has added Arbitrum (ARB) to its list of tradable cryptocurrencies. The listing led to a 14% price rally for the Ethereum layer-2 network.

As of this publication, CoinMarketCap shows the Arbitrum price was trading at $0.2808, with a slight 0.11% positive change in the past 24 hours. Additionally, trading volume has risen by 6.84%, reaching approximately $115.38 million.

Based on market perception, the launch of Converge could drive more interest and engagement, which may positively impact ARB’s price in the near future.

Beyond Converge, the next major development being watched is the Ethereum Pectra upgrade, which is billed to go live on the mainnet by May 7.

The post Ethereum Layer 2 Arbitrum Unveils New Chain For RWA: Details appeared first on CoinGape.

Analyst Predicts $5.6 Dogecoin Price Breakout as Open Interest Rebounds

Monicah W

Analyst Predicts $5.6 Dogecoin Price Breakout as Open Interest Rebounds

A Dogecoin (DOGE) price breakout past its previous All-Time High (ATH) price is gradually becoming possible amid the current market setup. While still tied in a long-drawn consolidation, a potential breakout is ahead for the memecoin, according to predictions from market analysts.

Dogecoin Price and Open Interest Outlook

As of this writing, DOGE’s price has changed hands for $0.1569, which has increased by 3.3% in the past 24 hours. This price trend is a testament to how resilient the DOGE price is, having traded at a low spot value of $0.1532. The memecoin has traded at a very close range during this period.

The current DOGE outlook shows a bullish trend in the futures market as showcased by Open Interest data. Data from Coinglass pegs the total Dogecoin committed to the futures market at 9.87 billion DOGE. This was valued at $1.54 billion and has skyrocketed by more than 5% in 24 hours.

Top crypto exchanges like Binance, OKX, and Bybit saw the highest DOGE open interest record. While the price traded at a relatively close range, the open interest commitment proves that traders with leverage are betting on the asset. 

DOGE Price to $5.6?

Optimism trails Dogecoin, despite its spot value now trading down 78.71% from its ATH of $0.7376. Market analyst Dogedog told his more than 58,600 followers on X that the price of DOGE is heading to $5.6.

While Dogegod did not provide a timeline or much context for his prediction, he highlighted how the memecoin breaks falling wedges. The analyst is not alone in his projection for the coin, as an earlier DOGE price analysis, Ali Martinez, predicted a $0.29 rally for the asset in the near term.

Although this price trend is not unrealistic, the broader market slowdown may serve as a bottleneck. Key performance metrics already tipped the Dogecoin price in line for a short-term breakout. With trading volume up 6% to more than $586 million as of writing, retail interest in the coin has further skyrocketed.

Dogecoin remains the lead among altcoins being considered for an exchange-traded fund (ETF) product. As reported earlier by CoinGape, 21Shares filed for a spot Dogecoin ETF, the latest asset manager to make the move. The belief is that an approval can usher in institutional funds, which can help fuel the coin’s price growth.

The post Analyst Predicts $5.6 Dogecoin Price Breakout as Open Interest Rebounds appeared first on CoinGape.

Tron Founder Justin Sun Reveals Plan To HODL Ethereum Despite Price Drop

Monicah W

Tron Founder Justin Sun Reveals Plan To HODL Ethereum Despite Price Drop

Tron founder Justin Sun is showing off diamond hands as the Ethereum price tries to stage a resurgence. Justin Sun has disclosed his intention not to sell off his ETH holdings while exploring new collaboration opportunities with Ethereum developers.

Tron Founder Is Not Selling ETH Holdings

Justin Sun has confirmed his resolve not to sell off any ETH despite falling prices for the largest altcoin. According to a post on X, the Tron founder disclosed plans to HODL the asset while unveiling plans to trigger a growth spurt.

“ETH is currently at a low price, but we have no intention of selling our ETH holdings,” said Justin Sun.

The Tron Foundation is yet to publicly reveal its ETH holdings, but speculation is rife that the organization holds a sizable amount. However, the Tron founder reportedly holds around 665,000 ETH valued at just under $1 billion at current prices.

Since Ethereum began its decline, the value of Justin Sun’s ETH holdings have plummeted from its highs of around $2.5 billion. Despite the price drop, the Tron founder is remaining firm in his resolve not to offload his ETH bags.

However, Ethereum whales are creating sell pressure for ETH by offloading their coins at a loss, sparking fears of a dip below $1,500.

Collaborating With Developers To Improve Ethereum Price

Alongside his declaration to HODL ETH, Sun revealed plans to double down on the Ethereum network. Going forward, Sun notes that Tron will explore increased collaboration with Ethereum via initiatives with developers and other critical stakeholders.

“Tron will continue to seek opportunities to collaborate with more Ethereum developers and build our industry together,” adds Justin Sun.

His comments come on the heels of a raft of community suggestions designed to improve Ethereum price performance. While the Tron founder did not give further details, the planned collaboration is expected to trigger a flurry of ecosystem activity.

This is not the first time Justin Sun is backing Ethereum with the Tron founder previously unveiling strategy to push ETH price to $10K. Sun’s plans revolved around stopping the Ethereum Foundation from making ETH sales for three years and taxing L2 protocols.

At press time, Ethereum price currently trades at $1,581 after falling by 46% over the last 12 months. There is chatter that Ethereum price has bottomed and bullish US unemployment data can trigger a rally to $2,000. Charts are indicating signals for an uptrend with ETH trading above a resistance trend line, sparking belief for push toward $4,800.

The post Tron Founder Justin Sun Reveals Plan To HODL Ethereum Despite Price Drop appeared first on CoinGape.

Analysts Predict XRP Price to Hit $6 as Wave 2 Correction Nears End

Monicah W

Analysts Predict XRP Price to Hit $6 as Wave 2 Correction Nears End

As the XRP price approaches key support levels, crypto analysts Casitrades forecast that the cryptocurrency is on the verge of a breakout. A potential surge in price could see XRP targeting levels as high as $6, with the conclusion of Wave 2 of its Elliott Wave pattern signalling a shift toward bullish momentum.

This technical analysis points to a possible market rally, especially if the XRP price maintains support above $1.90 or $1.55.

XRP’s Price Trend Points To Rally To $6

Currently, XRP’s price remains near the $2.08 level, consolidating between crucial support and resistance zones. According to Elliott Wave theory, XRP price appears to be finishing Wave 2, a corrective phase, with a possible reversal that could trigger a move higher. Crypto analysts Casitrade has spotted the $1.90 and $1.55 levels, where XRP has shown solid support in recent weeks.

For a sustained breakout, XRP needs to break and hold above the $2.24 resistance. This level is critical as it represents the 0.382 Fibonacci retracement. If XRP price can clear and hold above this price, analysts expect a sharp move toward the $6 target, $9.50 and $12, which aligns with the 1.618 Fibonacci extension.

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A strong push above $2.24 would likely validate the breakout, allowing XRP to build on the current bullish momentum. Conversely, if the price struggles at this level and fails to maintain support, XRP could experience a brief pullback before making another attempt at higher targets.

Technical Indicators Point to Bullish Momentum

Early buy signals in the technical factors of XRP are pointing towards a bullish direction. The MACD histogram is green and the MACD line has recently crossed above the signal line, thus indicating a higher tendency for buying pressure. Concurrently, the Relative Strength Index (RSI) is still middle of the range, and that certainly provides some more room for price appreciation, if buying pressure persists.

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Besides these, if XRP price is able to sustain above the $2.25 on the weekly chart, this will indicate a low at the $2.09 mark. According to analyst EGRAG CRYPTO, a full-bodied weekly candle above this price would confirm a bullish reversal, allowing XRP to target higher price zones such as $2.51 and $2.60.

However, short-term volatility has remained a concern despite such signals. Currently, there has been a remarkable increase in exchange inflows, with more than 55 million XRP moved to exchanges, which could put pressure on the sell-side in the market. However, analysts foresee a more positive, longer-term outlook for XRP due to the possibility of a Ripple ETF.

XRP ETF Approval Could Fuel Price Surge

Investor sentiment surrounding XRP is also being fueled by the growing excitement about a potential Ripple ETF. According to reports, analysts at JPMorgan are predicting that the approval of a Ripple spot ETF could bring in over $8 billion in institutional investments. This could trigger a surge in the price of XRP, potentially pushing it well above $6.

The approval of an XRP ETF is seen as a key development for the cryptocurrency, with analysts such as Zach Realtor suggesting that it could send the price toward $15. Such a move would also bring XRP closer to a $1.8 trillion market cap, making it one of the most valuable assets in the crypto space. The approval process for Ripple’s ETF is expected to unfold in the coming months, with the SEC set to make a decision on Grayscale’s XRP spot ETF filing by May 22.

In the meantime, Teucrium’s recently launched leveraged XRP ETF has already gained significant traction, attracting $27 million in assets. This growing interest in XRP-based products further strengthens the case for a potential ETF approval, which could provide the necessary catalyst for a significant price rally.

The post Analysts Predict XRP Price to Hit $6 as Wave 2 Correction Nears End appeared first on CoinGape.

Ethereum Eyes Another Correction as Selloff Risks Grow: What’s Next for ETH Price?

Monicah W

The post Ethereum Eyes Another Correction as Selloff Risks Grow: What’s Next for ETH Price? appeared first on Coinpedia Fintech News

Following comments by Federal Reserve Chair Jerome Powell, Ethereum’s price is struggling as it fails to validate a clear upward trend. On April 16, during a speech in Chicago, Powell stated that the Federal Reserve is not in a hurry to lower interest rates, highlighting a cautious “wait-and-see” approach that depends on further economic data. This announcement led to an increase in Ethereum’s exchange inflows, signaling increased chances of a potential bearish correction.

Ethereum Faces Rising Bearish Threats

Ethereum’s price has been trending downward, impacted by the Federal Reserve’s cautious outlook on the economy, which has dampened investor sentiment. According to data from Coinglass, Ethereum saw approximately $40.6 million in liquidations over the past 24 hours. Of this, long positions accounted for about $26 million, while short positions made up roughly $14.6 million.

The recent price decline coincided with a sharp increase in exchange reserves. On the previous day alone, more than 77,000 ETH were transferred to derivative exchanges, marking the largest single-day net inflow in several months. This sudden rise in supply increases the potential for selling pressure.

Also read: Large Inflows Hit Ethereum: Will ETH Price Drop Again?

However, data from IntoTheBlock reveals that the Netflow metric remains negative, at approximately -6,800 ETH. This indicates that overall outflows have exceeded inflows, suggesting that many investors were accumulating Ethereum amid the price decline.

Coinglass further reveals that open interest for Ethereum has been rising despite the downward pressure. The OI metric surged by over 3.87%, touching over $18 billion. However, the funding rate has been trending around the negative region at 0.0015%. As a result, bears still have the control to consolidate ETH with immediate Fib support levels.

However, the current decline might turn out to be a strong rebound soon. According to a CryptoQuant analyst, Ethereum is trading close to its realized price, a level that has often signaled major rebounds in the past. The realized price, now around $1,585, is seen as a strong point for value buying.

What’s Next for ETH Price?

Ether’s attempt at a price recovery is losing momentum around EMA trend lines as bears strongly defend EMA20 level. As a result, the price is hovering around the descending resistance line. Currently, ETH price trades at $1,588, declining over 1.5% in the last 24 hours.

If sellers manage to drive the price below $1,400, it could trigger a deeper decline toward the end of the bearish channel at $1,130. This level is expected to attract buying interest, but if bearish momentum remains strong, a further drop toward $1K is possible.

On the upside, a decisive break and close above $1,700 would be the first indication that buyers are regaining control. Such a move could open the path for a rally toward $2K. Although the 50-day SMA might slow down the recovery, it is likely to be surpassed if bullish momentum builds. A strong push above $2K would suggest that the downtrend may be reversing.

The post Ethereum Eyes Another Correction as Selloff Risks Grow: What’s Next for ETH Price? appeared first on Coinpedia Fintech News
Following comments by Federal Reserve Chair Jerome Powell, Ethereum’s price is struggling as it fails to validate a clear upward trend. On April 16, during a speech in Chicago, Powell stated that the Federal Reserve is not in a hurry to lower interest rates, highlighting a cautious “wait-and-see” approach that depends on further economic data. …

Kraken Exchange to List Binance Coin $BNB on April 22 With Four Trading Pairs

Monicah W

BSC DEX Volume Surpasses Solana—Will This Benefit BNB Price to Reach $700

The post Kraken Exchange to List Binance Coin $BNB on April 22 With Four Trading Pairs appeared first on Coinpedia Fintech News

  • BNB has shown significant market resilience similar to Bitcoin in the recent past catalyzed by rising demand.
  • Bullish sentiment has been building up for the BNB price in the last three months, but it could be delayed if the support level at $520 is breached.

In a surprising move to crypto traders, Kraken Exchange had not listed Binance Coin (BNB) until now. Earlier on Thursday, Kraken Exchange announced that deposits and withdrawals of BNB are enabled ahead of the April 22 listing.

Kraken Exchange will list BNB against the U.S. dollars, the EUR, USDC, and USDT. However, Kraken Exchange announced that geographical restrictions will be imposed where applicable.

The announcement attracted different reactions from the crypto community. While some were surprised that Kraken had not listed the fifth largest crypto assets by market cap, Binance co-founder Changpeng Zhao said that ‘BNB is a memecoin’.

Top Reasons Why Kraken Listed BNB?

The listing of BNB at Kraken Exchange was strategic after years of existence. On the top list, BNB has gained significant regulatory clarity in the past few years, led by the United States. Under the Donald Trump administration, Kraken Exchange has also expanded its services offering to compete with other similar firms.

The adoption of BNB has grown significantly in the past few years, bolstered by the Binance exchange. Moreover, the rising on-chain activity for the BNB chain has helped burn over 60 million tokens worth over $34 billion. 

Midterm Expectations 

Since the beginning of 2025, BNB price has closely followed Bitcoin price action. The large-cap altcoin, with a fully diluted valuation of about $86 billion and a 24-hour average trading volume of about $526 million, has shown significant market resilience amid the ongoing global trade war.

In the daily timeframe, BNB price has been forming a potential reversal pattern since the second inauguration of Trump. Notably, BNB price has established a robust support level above $520, coupled with a bullish divergence of the Relative Strength Index (RSI).

The post Kraken Exchange to List Binance Coin $BNB on April 22 With Four Trading Pairs appeared first on Coinpedia Fintech News
BNB has shown significant market resilience similar to Bitcoin in the recent past catalyzed by rising demand. Bullish sentiment has been building up for the BNB price in the last three months, but it could be delayed if the support level at $520 is breached. In a surprising move to crypto traders, Kraken Exchange had …

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Wifi Dabba CEO Karam Lakshman on Using BONK and DePIN to Help Connect India

Monicah W

According to Wifi Dabba CEO and founder Karam Lakshman, India’s rapid digital growth has outpaced its broadband infrastructure, leaving hundreds of millions without stable access. He believes decentralized networks may offer a way to bridge that gap, using global capital, local deployment partners, and tokenized incentives to scale internet access cost-efficiently.

Wifi Dabba is putting that belief into practice. After seven years of operating in India’s broadband space, the Bangalore-based provider is now repositioning itself as a decentralized physical infrastructure network, or DePIN project.

In a recent interview with BeInCrypto, Lakshman discussed the company’s latest initiative to partner with BONK, one of Solana’s most active communities. Through this collaboration, Wifi Dabba aims to deploy 10,000 decentralized Wi-Fi hotspots across underserved regions in India.

A Network Too Big to Scale the Old Way

India is the world’s second-largest telecom market, with more than 800 million 4G and 5G subscribers. Yet when it comes to broadband, the country lags behind. Lakshman points out that while the United States has over 120 million broadband connections and China has more than 600 million, India counts only about 40 million.

“India developed rather quickly in the last 20 years, and we skipped the broadband step,” he said. “So there’s this mad race that’s happening now in India to build broadband networks.”

Wifi Dabba’s early work included powering segments of Google public Wi-Fi programs and helping the Indian government shape national telecom policy. But as the company expanded its own branded network, Lakshman said they discovered just how limited broadband access really was.

“We didn’t realize that the stat was so bad. Only five percent of India has broadband internet. We really thought most people did. So to us, that was the biggest eye-opener,” Lakshman told BeInCrypto.

In response, Dabba restructured its model around a decentralized deployment system powered by tokenized incentives. The premise is straightforward. Anyone in the world can purchase a Dabba Lite hotspot, and instead of receiving the device themselves, the company installs it in a home or office in India where there’s real demand.

“By decoupling the person that owns the hotspot from where the hotspot is going to be deployed, we do two incredibly powerful things. The first is it allows us to match supply and demand more efficiently because we’re deploying only in places where people need it and are willing to pay for it. The second is that the person buying the hotspot, like someone sitting in the US, ends up subsidizing the cost of that internet connection for someone in India,” he explained.

What Crypto Looks Like When the End User Doesn’t Know It’s There

For the person receiving internet access, Dabba’s system doesn’t feel like crypto at all. It’s a standard broadband connection, paid in fiat, installed in their home or business. What stands out to users is the price. Dabba’s service can be three to ten times cheaper than other options.

Some grow curious after noticing the discount. Dabba shares a small portion of its native token with users, which they can use for future discounts or trade on a decentralized exchange. For many, it becomes their first interaction with crypto. This time, it’s tied directly to a useful service.

Lakshman put it simply. “For the people who are curious, they learn what crypto is through a real benefit. For the people who aren’t, they just get a cheap, reliable broadband connection. And they’re happy.”

A Meme Coin Meets a Connectivity Mission

This model, which lets global participants fund local connectivity, is now being tested at scale through a new campaign with BONK. Earlier this month, the company launched a collaboration with BONK, a Solana-based meme coin project with a large and engaged user base. 

The campaign will see 10,000 Dabba Lite hotspots reserved for BONK participants. Each device will trigger a $20 burn in BONK tokens at activation, followed by monthly $2 burns over 18 months.

Although the choice to work with BONK might seem unconventional at first glance, Lakshman sees it as a strategic step toward bringing DePIN to a broader audience.

“We took a long look at how to increase awareness of DePIN within the broader crypto community. Most people in the space haven’t even heard of it. Our strategy is to expand to one vertical at a time, and communities were the first,” Lakshman outlined.

According to Lakshman, BONK stood out for its long-term focus and surprising depth of utility. He pointed to existing BONK-backed projects and tools like BONKbot and Bonkler, as well as the community’s role in driving Solana Saga phone adoption. But scale was also a factor.

“BONK has almost a million wallet holders, and they’ve proven they know how to get a message across. If one of the biggest challenges in DePIN is awareness, BONK gives us distribution.”

The partnership ties token burns directly to real-world usage. BONK is only burned when a hotspot is deployed and data is consumed. This mechanism, Lakshman said, creates a clear link between network activity and token utility.

“We wanted to attract people who care about long-term utility. When a BONK holder sees tokens being burned only when the internet is being used, it shows that real work is being done. It connects utility with belief.”

The post Wifi Dabba CEO Karam Lakshman on Using BONK and DePIN to Help Connect India appeared first on BeInCrypto.

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ECB Rate Cuts Reflect Europe’s Fading Influence on the Crypto Market

Monicah W

The European Central Bank (ECB) cut interest rates by another 25 basis points today, but the crypto market has hardly noticed. This highlights the European market’s declining influence over the crypto sector compared to the US.

Meanwhile, the crypto community is praying for rate cuts in the US, and false tariff rumors caused a massive pump. These policies still matter, but Europe is losing its macro influence.

The ECB Cuts Rates To Crypto Ambivalence

Global recession fears are circulating throughout the crypto market, and regulation plays a key role in them. US investors have been desperate for a rate cut in the hopes that it could provide a bullish narrative.

None has yet materialized. However, the ECB cut interest rates today for the sixth consecutive time, yet the crypto market barely reacted.

“The outlook for growth has deteriorated owing to rising trade tensions. Increased uncertainty is likely to reduce confidence among households and firms, and the adverse and volatile market response to the trade tensions is likely to have a tightening impact on financing conditions,” the ECB said in a public statement.

According to price data, the total crypto market cap has decreased by 0.2% since the ECB announced these rate cuts. Of the top 10 largest assets, all of them posted gains today except one.

Does this mean that macroeconomic factors are losing influence on crypto markets? That notion is demonstrably untrue. Less than two weeks ago, crypto had a huge rally after a false rumor that Trump would pause tariffs.

These gains came back when the pause actually happened. So, macro influence is still very strong in the current markets; it’s specifically that the ECB and Europe are losing influence.

The European Union isn’t the only economic bloc that’s losing its power in the space. Yesterday, the British government announced that inflation was lower than expected, potentially enabling another rate cut.

This, too, had a negligible impact on crypto. Macroeconomic concerns still impact the crypto market, but its strongest links are to the US and Asia.

A clear sign of this change in crypto happened months before the ECB cuts. Tether was forced to leave the EU due to MiCA regulations, but its business was minimally impacted.

It’s still the world’s largest stablecoin despite losing out on the entire European market. In fact, since then, it has taken steps to better integrate with US regulations.

Meanwhile, many large crypto businesses are reorienting towards Asia and the US and away from Europe. Earlier this year, a16z shut down its London office to focus on the US.

Tether relocated to El Salvador, giving it close proximity to the US and easier access to the Latin American market. This growth area is apparently more fruitful than trying again in Europe.

The ECB’s rate cuts barely impacted the crypto market, but that doesn’t mean that the industry will ignore the whole continent. Moving forward, however, EU operations will matter less and less to the largest companies.

This mirrors broader trends, as international capital is refocusing away from Europe. It’s only natural that crypto is part of that pattern.

The post ECB Rate Cuts Reflect Europe’s Fading Influence on the Crypto Market appeared first on BeInCrypto.

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Cardano (ADA) Might Turn Bearish As Price Struggles to Breach $0.70

Monicah W

Cardano (ADA) has been trading below the $0.70 mark since March 29, struggling to regain bullish momentum. Despite brief signs of strength, recent indicators now point to weakening trend conditions.

Both the BBTrend and ADX show fading buying pressure, while EMA alignment remains bearish. With price stuck between key support and resistance levels, ADA’s next move could define its short-term direction.

Cardano BBTrend Turns Negative, Signaling Momentum Reversal

Cardano’s BBTrend has flipped negative, currently sitting at -0.78 after spending the last five days in positive territory. The indicator reached a peak of 9.76 on April 14, signaling strong bullish momentum at the time.

BBTrend, short for Bollinger Band Trend, measures the strength and direction of a price move relative to its Bollinger Bands.

Positive values typically indicate bullish trends, while negative values point to bearish conditions or weakening momentum.

ADA BBTrend.
ADA BBTrend. Source: TradingView.

The shift to -0.78 suggests that Cardano’s recent uptrend has lost strength and may be reversing. A negative BBTrend reading means the price is now moving closer to the lower band, often a sign of rising selling pressure.

While it doesn’t confirm a strong downtrend yet, this reversal could indicate the beginning of a broader consolidation or bearish phase unless momentum quickly recovers.

Traders may want to watch closely for follow-through or a bounce to assess ADA’s short-term direction.

Cardano Momentum Fades as ADX Crashes and Selling Pressure Rises

Cardano’s DMI chart shows a sharp drop in trend strength, with its ADX falling to 15.12 from 28.34 just two days ago.

The ADX (Average Directional Index) measures trend intensity—readings above 25 suggest a strong trend, while values below 20 indicate a weak or consolidating market.

The steep decline in the ADX signals that the momentum behind Cardano’s recent move is quickly fading.

ADA DMI.
ADA DMI. Source: TradingView.

At the same time, the +DI (bullish directional indicator) has dropped from 22.61 to 17.39, showing weakening buying pressure. Meanwhile, the -DI (bearish indicator) has risen from 10.5 to 14.95, pointing to a gradual increase in selling strength.

With both the ADX and +DI falling, and -DI climbing, the setup hints at a potential shift in favor of the bears.

Unless bullish momentum returns quickly, Cardano could enter a period of sideways movement or even a short-term downtrend.

Bearish Structure Still Dominates Cardano

Cardano’s EMA lines remain bearish, with short-term averages still positioned below the long-term ones—indicating that downward momentum is intact.

Cardano price is holding above a key support zone near $0.594, but if this level fails, it could trigger a deeper drop toward $0.511. This would confirm a continuation of the downtrend and reflect growing selling pressure.

ADA Price Analysis.
ADA Price Analysis. Source: TradingView.

However, if ADA manages to reverse its current momentum, the first major resistance lies at $0.64. A breakout above that level could open the door to further gains, with potential targets at $0.66 and $0.70.

If the uptrend strengthens, ADA could even rally toward $0.77, marking a more decisive recovery and trend shift.

The post Cardano (ADA) Might Turn Bearish As Price Struggles to Breach $0.70 appeared first on BeInCrypto.

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Binance Dominated the CEX Market in Q1 with $8.4 Trillion Trading Volume

Monicah W

Despite regulatory hurdles and listing concerns, a new report from TokenInsight shows that Binance is comfortably leading the CEX market. Increasing competition from MEXC and Bitget saw Binance’s market share drop 1%, but it still dominates more than one-third of the CEX trades.

The firm dominates in every metric that the report examined, from market share to public notoriety. It leads both in spot and derivatives trading volume and maintains the most stable ratio between the two of any CEX.

Binance is Winning the CEX Race By a Mile

Binance suffered a few setbacks in this period, but it still comfortably leads the CEX market in a few key areas. Its token listings are not performing like they used to, prompting community backlash, and its potential ties with the Trump family are also raising concerns.

However, the exchange had a strong Q1 2025, as its trading volume continued to dominate one-third of the CEX market.

“Binance maintained its market-leading position in both quarters, with a trading volume of $9.95 trillion in Q4 2024. Due to market volatility, its trading volume in Q1 2025 was approximately $8.39 trillion. Binance continued to lead in market share, holding 36.5% in Q1 2025,” the report claimed.

In terms of total market share, Binance isn’t completely surpassing the CEX market. In fact, its control actually decreased by 1.38%.

No other exchange saw this level of decline, as Bybit only lost 0.89% after the infamous hack. Nonetheless, most of the biggest CEXs also declined slightly, and none of the growing exchanges managed to compete with its head start.

Binance Is Larger than Any CEX
Binance Is Larger than Any CEX. Source: TokenInsight

Binance accounts for nearly 36% of the CEX market share, but this isn’t its only advantage. It also leads in both spot trading and derivatives volumes, controlling 45% of the former and maintaining a 17% lead with the latter.

Additionally, TokenInsight determined that it had the most stable platform structure, keeping its ratio of spot to derivatives trading very consistent.

The firm also ranked number one in open interest market share, but this was its least comfortable lead. However, TokenInsight identified a few intangibles that significantly impacted Binance’s CEX performance.

crypto spot market share
Crypto Spot Market Share. Source: TokenInsight

In its list of noteworthy industry events for Q1 2025, Binance was mentioned more than any other exchange. In one such mention, Forbes listed it as one of the world’s most trusted crypto exchanges.

Overall, despite ongoing regulatory scrutiny in several different regions, the exchange seemingly holds a firm grip on the market.

The post Binance Dominated the CEX Market in Q1 with $8.4 Trillion Trading Volume appeared first on BeInCrypto.