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ZORA Token Launches on Coinbase as Content Coin Trend Gains Momentum

Monicah W

Cryptocurrency exchange Coinbase has listed ZORA, the native token of the Zora platform.

Alongside ZORA, Coinbase included Mantle (MNT) in its listing roadmap. Following the announcements, both tokens saw modest gains.

Coinbase Lists ZORA 

Earlier, in an X (formerly Twitter) post, the exchange announced the addition of ZORA to its listing roadmap. However, a few hours later, Coinbase confirmed that the altcoin was officially listed and available for trading.

“ZORA (ZORA) is now live on Coinbase website and in the Coinbase iOS and Android apps with the Experimental label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets,” the April 25 announcement read.

The Experimental Label serves as a cautionary indicator for traders. It marks certain assets that exhibit lower trading volume or are new to Coinbase.

Due to their lower market activity, these assets are prone to increased price volatility, liquidity issues, and the potential for order cancellations. This labeling system ensures users are aware of these risks, encouraging a more cautious approach to trading these less-established assets.

Notably, ZORA is just two days old. It was launched via an airdrop on April 23 and listed on Binance Alpha on the same day. Moreover, Bybit, Bitget, KuCoin, Gate, MEXC, and Bitrue have also added support for the token.

The Coinbase listing further solidifies its growing presence in the crypto market. According to BeInCrypto data, the token’s price appreciated by 2.3% after the news. At press time, ZORA was trading at $0.02.

ZORA Price Performance
ZORA Price Performance. Source: BeInCrypto

The development comes during heightened interest in the platform. Zora allows users to tokenize their content, a trend widely promoted by Base founder Jesse Pollak. 

In fact, last week, Base turned its X post titled “Base is for everyone” into a content coin. However, the move attracted significant backlash, as the price plummeted 99% just four hours after launch.

Despite this, Pollak has been vocal in his support for content coins, reiterating his stance recently in an exclusive interview with BeInCrypto.

“Most photos posted on social media are just photos, but occasionally something will really take off and become a viral meme. Similarly, with content coins, most of them are just pieces of content that people should post without expectation, but big ones have the potential to turn into memes, and the free market is deciding on the value of each piece of content,” Pollak told BeInCrypto.

MNT Joins Coinbase’s Listing Roadmap 

Meanwhile, Coinbase also added MNT to its listing roadmap on the same day. 

“The launch of trading for these assets is contingent on market-making support, and sufficient technical infrastructure. We will announce the launch of trading separately once these conditions have been met,” Coinbase noted.

Like ZORA, MNT’s price also benefited from the news. Over the past day, the token’s value has increased by 6.5%. At the time of writing, it was trading at $0.74.

MNT Price Performance
MNT Price Performance. Source BeInCrypto

While the addition marks a positive development, it remains to be seen whether or when the asset will be listed. For now, Coinbase’s latest moves signal a continued effort to bridge innovative blockchain projects with mainstream investors.

The post ZORA Token Launches on Coinbase as Content Coin Trend Gains Momentum appeared first on BeInCrypto.

Cardano’s Charles Hoskinson Predicts Ethereum will Crash in 15 Years

Monicah W

Cardano Price

Cardano price outlook strengthens as Charles Hoskinson predicts Ethereum could fail within 15 years due to fragmentation and outdated tech.

Cardano founder warns Ethereum could be at risk of decline

Cardano founder Charles Hoskinson has reignited debate in the crypto space with a bold prediction: Ethereum could become obsolete within the next decade and a half, following a path similar to now-defunct tech icons like BlackBerry and Myspace.

Cardano

Speaking during a recent Ask-Me-Anything (AMA) session, Hoskinson, who co-founded Ethereum before leaving to launch Cardano, warned that Ethereum’s underlying architecture, combined with its growing reliance on layer 2 networks, is driving the platform toward long-term structural failure.

“It’s a brilliant project,” Hoskinson said. “But it’s just a victim of its own success—like Myspace or BlackBerry.” – Cardano founder, Charles Hoskinson.

He added that Ethereum’s fragmented ecosystem, mounting internal divisions, and an increasing exodus of users to alternative platforms such as Bitcoin DeFi and Solana may ultimately lead to its downfall.

Layer 2s Undermine Ethereum’s Alpha, Hoskinson Says

Ethereum’s ongoing transition to a rollup-centric architecture—designed to alleviate congestion and scale the network—was another focal point in Hoskinson’s critique.

While layer 2 solutions like Optimism, Arbitrum, and Base have been praised for offloading traffic from the main chain, Hoskinson argued that these platforms are “siphoning value” from Ethereum’s core layer, leading to what he described as “ecosystem fragmentation.”

“The layer twos will continue to suckle out all of the alpha,” he said. “And then people will start fighting.” – Hoskinson said.

Without unified governance, Hoskinson warned, Ethereum risks evolving into a patchwork of semi-autonomous systems that erode the protocol’s network effects and reduce its long-term viability.

He also questioned the durability of Ethereum’s current proof-of-stake model, as well as the efficiency of its accounting and virtual machine systems, calling them poorly suited for the next generation of blockchain applications.

His critique arrives as Ethereum faces mounting challenges across both technical and market dimensions.

Cardano price forecast today: $0.80 rally imminent

Cardano’s price action has shown resilience, staging a recovery with a 2.88% gain to close at $0.7178, on the ADA/USDT pair via Binance, following a period of consolidation.
The daily chart highlights a steady uptick from recent lows around $0.6153, with buyers stepping in to defend the $0.6866 level, signalling renewed momentum as the price pushes above key technical thresholds.
Cardano price forecast today | ADAUSDT
Cardano price forecast today | ADAUSDT
The ADA price chart reveals a promising setup for Cardano, with the price breaking above the 50-day simple moving average at $0.6866, a key level that often acts as dynamic support during uptrends.
This breakout, coupled with a volume delta shift from -115.55 million to 11.31 million, indicates strong buyer accumulation, supporting a bullish outlook.
The 200-day moving average, trending downward from $1.00 to $0.80, now serves as a potential price target, aligning with the Cardano price forecast today.
However, bearish risks linger as the price nears the 200-day SMA resistance at $0.7666, where selling pressure could emerge.
If ADA fails to hold above $0.6866, a retest of the $0.6153 support may unfold, signaling caution for short-term traders. Nevertheless, the bullish momentum and volume surge favor an upside move toward $0.80 in the near term.

The post Cardano’s Charles Hoskinson Predicts Ethereum will Crash in 15 Years appeared first on CoinGape.

News

Citigroup Predicts Stablecoin Market to Reach $3.7 Trillion By 2030

Monicah W

A recent study from the Citi Institute, Citigroup’s research organization, claims that the global stablecoin market could reach as high as $3.7 trillion by 2030. This was its most bullish estimate, but the base case was $1.5 trillion.

It acknowledged a few risks that could lead to a bearish scenario of $0.5 trillion, but the report largely remained optimistic. In any event, this sector could tremendously impact global markets.

Citigroup Is Extremely Bullish on Stablecoins

Citigroup’s researchers had one clear reason to be optimistic about stablecoins: friendly regulation worldwide. The Citi Institute’s report was titled “Digital Dollars.” It called special attention to stablecoins’ growing integration with the US dollar. This could serve as the motor for long-term growth:

“Government adoption of blockchain falls into two categories: enabling new financial instruments and system modernization. Stablecoins are now major holders of US Treasuries, starting to influence global financial flows. Their growing adoption reflects sustained demand for US dollar-denominated assets,” claimed Artem Korenyuk, a managing director at Citi.

The organization was particularly interested in mandates that stablecoin issuers hold reserves of US Treasuries. It predicts that non-USD stablecoins, including CBDCs, will ultimately exist on the margins, with 90% of the stablecoin market sticking to the dollar.

These reserve mandates would, therefore, cause the issuers to become major holders of Treasury bonds.

Potential Stablecoin Treasury Holdings Citigroup
Potential Stablecoin Treasury Holdings. Source: Citigroup

By doing this, regulators will compel stablecoin issuers to substantially change their internal policies. Citigroup predicts that this could better integrate stablecoins with the TradFi ecosystem.

Although stablecoins “pose some threat to traditional banking” for several reasons, these regulations will encourage a cooperative model instead. Public sector blockchain spending will also help this dynamic.

Still, Citigroup acknowledged significant risks in this rosy picture of stablecoins. Although its most bullish estimate is a $3.7 trillion global sector by 2030, its bearish outcome is only half a trillion.

That’s a very significant spread. The largest risks include fraud, contagion from de-pegging events, and confidentiality concerns.

It’s important to remember, however, that Citigroup has a surprisingly long history with crypto. It first considered entering the sector four years ago and continually publishes novel research on the market.

The post Citigroup Predicts Stablecoin Market to Reach $3.7 Trillion By 2030 appeared first on BeInCrypto.

Tron Founder Justin Sun Issues $5,000 Target For Ethereum, Here’s Timeline

Monicah W

Tron Founder Justin Sun Issues $5,000 Target For Ethereum, Here's Timeline

Justin Sun, the founder of Tron, has made a bold statement about the future price of Ethereum (ETH). He believes the cryptocurrency can hit $5,000 in a couple of months. His comments come just as the Ethereum Foundation prepares for a major global celebration to mark its tenth anniversary.

Justin Sun Shares Big Take on Ethereum

In a recent post on X, Sun noticed an interesting coincidence: His birthday falls on July 30, the exact date Ethereum was launched in 2015. 

Using this moment, he tied his message to the Ethereum Foundation’s announcement of a global series of meetups on July 30, 2025. These gatherings will celebrate ten years since the Genesis block of Ethereum was mined.

According to the Foundation, individuals and groups worldwide are encouraged to organize their local meetups. These events can range from casual hangouts to larger, planned gatherings. 

It is worth noting that the Ecosystem Support Program will provide financial backing of up to $500 per event to support these efforts. Applications for funding must be submitted by June 15, 2025.

The post from Justin Sun, however, went beyond community events. According to him, he predicted a 10x increase for Ethereum’s price, hinting at a $5,000 target. Though he did not give a specific timeline, his message has since led to positive sentiment among Ethereum community members on X.

The Historic Ties to Ethereum

Ethereum, launched in 2015, introduced smart contracts and has played a central role in developing decentralized applications. 

Over the last ten years, it has become one of the most critical projects in the digital asset economy. The upcoming meetups intend to honour this journey, with plans to bring users and developers together in different cities worldwide, as detailed by the network.

It is essential to add that the connection between Justin Sun and Ethereum has long drawn attention from the crypto community. CoinGape previously reported that Tron Founder Justin Sun revealed his plan to HODL ETH despite a drop in its price.

Even with founding a rival platform, he continues to comment on Ethereum’s development. 

Ethereum Price and Growth Catalyst

CoinMarketCap data shows that the Ethereum price was trading at $1,769.23, showing a 1.06% drop over the last 24 hours. 

While the projection from Justin Sun sounds exciting to some, critics argue that Ethereum still faces issues around scalability, high gas fees, and slow transaction times. 

These problems, often pointed out by developers and traders alike, remain hurdles to wide-scale adoption. However, some market participants believe that the upcoming Pectra upgrade will bring new developments to the Ethereum ecosystem.

The post Tron Founder Justin Sun Issues $5,000 Target For Ethereum, Here’s Timeline appeared first on CoinGape.

Ripple (XRP) Price Analysis Today: Traders Liquidate $40M as CME Group Announces XRP Futures Launch

Monicah W

XRP News: CME Group Announces Plans To Launch XRP Futures On May 19

XRP price hovers at $2.20, with CME futures set to launch, signaling growing institutional interest and potential volatility ahead.

Ripple (XRP) futures to debut on CME as traders brace for heightened volatility

The launch of XRP futures by CME Group—one of the world’s most powerful institutional derivatives marketplaces—marks a defining moment for Ripple’s native token as it gains deeper traction within regulated financial markets.

The offering, expected to begin trading on May 19 pending regulatory sign-off, introduces cash-settled contracts for 2,500 and 50,000 XRP lots, referencing the CME CF XRP-Dollar Rate calculated daily at 4:00 p.m. London time.

“Interest in XRP and its underlying ledger (XRPL) has steadily increased as institutional and retail adoption for the network grows, and we are pleased to launch these new futures contracts to provide a capital-efficient toolset to support clients’ investment and hedging strategies,” said Giovanni Vicioso, Global Head of Crypto Products at CME Group.

This announcement follows a previous staging-site leak hinting at XRP and Solana futures, which CME later walked back. The confirmation this week signals the exchange’s strategic entrance into crypto markets, coinciding with a 141% YoY surge in crypto derivatives volume during Q1—reaching $11.3 billion in notional value per day.

Ripple (XRP) Price Action, April 24, 2025
Ripple (XRP) Price Action, April 24, 2025

However, market reaction has been muted, with Ripple price consolidating at the $2.20 down 1.2% over the last 24 -hours. This affirms the narrative that XRP price action might be cooled by broader profit-taking within the crypto market on Thursday.

XRP derivative data shows strategic positioning amid macro tailwinds

While XRP’s integration into CME group, one of the largest institutional platforms gains traction, derivatives market data on Thursday showed risk-averse trading.

As seen in the Coinglass chart below, XRP futures trading volume fell 27.84% to $8.49 billion, while open interest contracted slightly to $3.88 billion. The open interest trend shows that XRP traders closed over $40 million worth of XRP futures positions on Thursday

Options open interest declined nearly 10%, although volume surged 160.5%, indicating repositioning through short-dated instruments ahead of the CME launch.

Ripple (XRP) derivatives market analysis | Source: Coinglass
Ripple (XRP) derivatives market analysis | Source: Coinglass

Despite overall deleveraging, directional data from Binance and OKX show a tilt toward long positions, with long/short account ratios hovering above 2.0. Notably, top trader positions on Binance reflected a long-to-short ratio of 1.53, hinting at cautious optimism.

The derivatives recalibration came as broader markets reacted to comments from former President Donald Trump, which lifted U.S. stocks and triggered profit-taking across major cryptocurrencies. XRP was not immune—$6.88 million in long positions were liquidated, alongside $1.97 million in shorts.

CME’s XRP futures launch not only broadens institutional access but also reinforces XRP’s relevance in the evolving digital asset infrastructure. With growing macro sensitivity and deepening liquidity, the token now finds itself at the center of a maturing crypto derivatives ecosystem.

XRP Price Forecast: XRP Eyes $2.60 Resistance Amid Volume Uptick and Parabolic SAR Support

XRP is consolidating near $2.19 after a short-lived breakout above the 50-day SMA, currently at $2.25. The XRP price forecast today leans cautiously bullish, supported by multiple technical indicators.

The Parabolic SAR dots are trailing closely below the current price, suggesting ongoing bullish momentum, while the volume delta shows a recent shift in buy-side aggression with a $13.01M net inflow.

XRP Price Forecast
XRP Price Forecast

However, XRP is yet to convincingly breach the red 100-day SMA around $2.20 and remains below the blue 200-day SMA at $2.45, which poses the next major resistance. A decisive close above this level could open the path to $2.60, aligning with a bullish continuation scenario.

On the downside, a rejection at the current level and break below the trendline support and SAR ($1.88) would expose XRP to further correction toward $1.87. Still, as long as volume builds and the trendline holds, the technical structure favors a bullish breakout in the near term.

The post Ripple (XRP) Price Analysis Today: Traders Liquidate $40M as CME Group Announces XRP Futures Launch appeared first on CoinGape.

Breaking: Federal Reserve Withdraws Guidance Restricting Banks from Crypto Activities

Monicah W

Federal Reserve Withdraws Guidance Restricting Banks from Crypto Activities

The United States Federal Reserve Board has revised its crypto regulation guidance to banks regarding allowances for engaging in digital currencies and dollar token or stablecoin activities. The Fed said it has rescinded the provisions of its 2022 Supervisory Letter, which mandated advance notices for banks that wanted to engage in crypto activities. This move comes amid the changing crypto regulatory landscape in the United States.

Federal Reserve and New Approach to Crypto

According to the Press Release shared by the Fed, it has now chosen to do things differently instead of this stringent oversight. Moving forward, the banking regulator said it will only resort to regulating banks’ crypto activities usually.

In addition to this, the Fed also confirmed it is backtracking on a 2023 guidance designed for stablecoins. 

“The Board is also rescinding its 2023 supervisory letter regarding the supervisory nonobjection process for state member bank engagement in dollar token activities,” the press release noted.

As CoinGape reported earlier, the OCC also revised its position and cleared banks to engage in crypto activities. To complement the current shift, the apex bank also confirmed that it will work with relevant agencies to determine whether more guidance will be forthcoming. 

The ultimate goal is to foster crypto-based innovation to an appropriate level.

Crypto Regulation Taking a Comprehensive Twist

Since President Donald Trump’s inauguration, the Federal Reserve and other agencies have shifted their approach to crypto. The Securities and Exchange Commission (SEC) has dropped some crypto lawsuits to fulfill the President’s campaign promises.

One of the high-profile cases the SEC closed is the Ripple lawsuit. After more than four years of legal battle, the regulator rescinded its appeal on the case, a gesture matched by the payments firm. 

Other top crypto exchanges, such as Coinbase Global, Uniswap, and Kraken, have also seen their cases closed. With Paul Atkins now sworn in as Chairman of the commission, he has proclaimed that Bitcoin will be his priority.

Operation Chokepoint 2.0 Out the Window

Over the past year, conversations around Operation Chokepoint 2.0 have filled the crypto ecosystem. Firms operating in the industry have complained of direct efforts to hinder crypto innovation. 

Coinbase is filing an active FOIA lawsuit with the FDIC to uncover ways the agency has tried to choke firms. Both the President and Crypto Czar David Sacks have promised to end the industry chokepoint and chart a new course for the US digital assets ecosystem.

The latest move by the Federal Reserve, the OCC, the SEC, and the FDIC confirms that the Operation Chokepoint agenda is over.

The post Breaking: Federal Reserve Withdraws Guidance Restricting Banks from Crypto Activities appeared first on CoinGape.

Dogecoin Price Analysis: Momentum Favors Further Gains

Monicah W

Dogecoin L2 Brewing_ Timothy Stebbing Highlights Future Developments For DOGE

The post Dogecoin Price Analysis: Momentum Favors Further Gains appeared first on Coinpedia Fintech News

  • Technical analysis shows that the Dogecoin price is poised to gain 33% to 23 cents in the coming days.
  • The Dogecoin rally is heavily backed by institutional investors amid anticipated altseason 2025.

Dogecoin (DOGE) price gained 2 percent in the past 24 hours to trade around $0.1814 on Thursday, during the mid-North American trading session. The large-cap memecoin, with a fully diluted valuation of about $26.9 billion and a 24-hour average trading volume of around $1.5 billion, was among the best gainers in the top ten crypto assets.

Top Reasons Why Dogecoin is on the Rise

The Dogecoin’s price rally has heavily been driven by the rising Futures Open Interest (OI). In the past two weeks, Dogecoin’s OI surged from around $1.3 billion to about $2 billion at the time of this writing. Additionally, the Dogecoin network has recorded a significant increase in whale activity, led by fund managers, such as 21Shares, seeking to offer spot DOGE ETF.

The Dogecoin ecosystem has grown into a robust online community, mostly brought together by tech billionaire Elon Musk. Meanwhile, the Dogecoin core developers have been working on a major network upgrade to enable DeFi development to compete with other layer one (L1) chains such as Ethereum, and Solana.

DOGE Price Analysis

As Bitcoin price signals further bullish momentum in the near future, the overall demand for memecoins has remained high. The gradual resurgence of FOMO crypto trading has helped the DOGE price breakout from a multi-week falling trend.

In the daily timeframe, the Dogecoin price has formed a reversal pattern, characterized by inverse head and shoulders formation coupled with a bullish divergence of the Relative Strength Index (RSI). Additionally, Dogecoin’s daily MACD line is about to cross the signal line as the buyers gain control.

As a result, the DOGE price is well positioned to rally towards 23 cents in the coming days, with the 48 cents target likely to happen in the near future.

The post Dogecoin Price Analysis: Momentum Favors Further Gains appeared first on Coinpedia Fintech News
Technical analysis shows that the Dogecoin price is poised to gain 33% to 23 cents in the coming days. The Dogecoin rally is heavily backed by institutional investors amid anticipated altseason 2025. Dogecoin (DOGE) price gained 2 percent in the past 24 hours to trade around $0.1814 on Thursday, during the mid-North American trading session. …

Sui (SUI) Price Analysis Today: Key Targets to Consider Ahead

Monicah W

The post Sui (SUI) Price Analysis Today: Key Targets to Consider Ahead appeared first on Coinpedia Fintech News

  • The Sui network has attracted significant investment from institutional investors seeking to capitalize on its growing popularity.
  • SUI price has already broken out of a multi-week falling trend and is aiming for a new ATH soon.

Since the beginning of this week, the Sui (SUI) price has rallied more than 55 percent to trade at about $3.29 on Thursday, April 24 during the late North American trading session. The large-cap altcoin, with a fully diluted valuation of about $32.8 billion and a 24-hour average trading volume of around $3 billion, led the top 20 crypto assets in bullish sentiment following today’s 11 percent gain. 

In the past 24 hours, Sui’s Futures Open Interest (OI) surged 21 percent to hover about $1.29 billion, up from $491 million on March 11. As a result of the heightened volatility, more than $12.88 million was liquidated from Sui’s leveraged market.

Sui Network Growth Outlook

The Sui network has experienced explosive growth in the past few months, catalyzed by rising demand for institutional investors. As of this writing, the Sui network had a total value locked of about $1.45 billion and a stablecoins market cap of around $865 million.

In the past 24 hours, the Sui network has announced several strategic investments by institutional investors led by Space and Time and Grayscale Investments. 

Earlier on Thursday, the Sui Network announced the launch of the Sui Mastercard, in collaboration with the xPortal crypto wallet. 

SUI Price Aims for Mew ATH

As the wider altcoin market signals bullish sentiment following the Bitcoin price pump above $93k, the SUI price has already signaled bullish sentiment. 

In the daily timeframe, SUI’s MACD indicator has already crossed above the signal line, thus suggesting the buyers are in control. Additionally, the daily Relative Strength Index (RSI) has already crossed the 70 percent level, suggesting the onset of a parabolic rally.

The post Sui (SUI) Price Analysis Today: Key Targets to Consider Ahead appeared first on Coinpedia Fintech News
The Sui network has attracted significant investment from institutional investors seeking to capitalize on its growing popularity. SUI price has already broken out of a multi-week falling trend and is aiming for a new ATH soon. Since the beginning of this week, the Sui (SUI) price has rallied more than 55 percent to trade at …

News

Tron’s Justin Sun is Rumored To Be the Largest TRUMP Holder

Monicah W

Justin Sun is rumored to be attending President Trump’s exclusive dinner next month. An HTX cold storage wallet registered for the TRUMP holder leaderboard currently occupies the first place.

Sun himself posted a cryptic message on social media, possibly suggesting he wishes to attend. Whether or not the rumor is true, a spot on the leaderboard is well within his means if he wants it.

Is Justin Sun Going to the TRUMP Gala Dinner?

Since Donald Trump announced an exclusive dinner for the top holders of his eponymous meme coin yesterday, there’s been a complete frenzy of activity.

Rumors have been circulating about many different aspects of the stunt, but a new one is gaining traction. Some users believe that Justin Sun is currently the largest TRUMP holder on the official leaderboard.

Sun Leads the List of TRUMP Holders
Sun Leads the List of TRUMP Holders. Source: gettrumpmemes.com

Arkham Intelligence first promulgated this claim. Specifically, it noticed that a cold wallet was added to the leaderboard.

Arkham flagged this wallet as belonging to HTX, an exchange associated with Sun, and it now holds more TRUMP than any registered user.

The wallet itself has been transferring TRUMP for the last three months. Its TRUMP holdings only increased once since the announcement, and its portfolio includes hundreds of different cryptoassets.

In other words, it’s quite plausible that this is an exchange’s ordinary cold wallet. After all, registering for the TRUMP leaderboard won’t compromise its actual tokens.

Users quickly began claiming that Sun was behind this wallet, as this would give him a guaranteed spot at the dinner. He and President Trump have a history together, and Sun invested $30 million in WLFI shortly after the last election. Since then, the SEC moved to settle a civil fraud case against him.

The Tron founder himself posted a cryptic message after the rumors began:

This could be interpreted as a sign that Sun indeed plans to attend Trump’s dinner. Regardless of the rumor’s veracity, this goal is quite achievable for a man of Sun’s means.

Yesterday, some users claimed it would require $400,000 worth of TRUMP coins to make the cut, but this was inaccurate.

As the leaderboard clearly shows, users must manually register to be considered. This has dropped the price floor considerably. Still, this plan would guarantee Sun a spot at Trump’s table, and potentially a private White House tour.

The post Tron’s Justin Sun is Rumored To Be the Largest TRUMP Holder appeared first on BeInCrypto.

News

Cardano Whales Start Buying Again as ADA Price Holds a Tight Range

Monicah W

Cardano (ADA) has climbed over 15% in the past week, continuing to push higher despite a 27% drop in trading volume over the last 24 hours. While momentum indicators and whale activity still lean bullish, signs of consolidation are emerging as ADA trades near key support and resistance levels.

Whether ADA breaks higher or pulls back may depend on how it reacts to the critical $0.668–$0.709 range in the coming days.

Is Cardano’s Rally Losing Steam or Just Catching Its Breath?

Cardano Average Directional Index (ADX) is currently at 30.17, easing slightly from yesterday’s 32.76 after a sharp surge from 14.90 two days ago.

This rapid climb signals a strengthening trend that has recently stabilized, with Cardano community challenging Charles Hoskinson on roadmap promises.

Despite the minor pullback in ADX, ADA remains firmly in an uptrend, indicating that bullish momentum is still present, though perhaps cooling slightly after an intense acceleration.

ADA ADX.
ADA ADX. Source: TradingView.

The ADX is a trend strength indicator that ranges from 0 to 100. It does not indicate direction—only the strength of a trend. Readings below 20 suggest a weak or non-existent trend, while values above 25 typically confirm a strong trend.

ADA’s current ADX at 30.17 reflects a healthy uptrend still in play, although the slight dip may suggest the trend’s momentum is stabilizing rather than accelerating.

As long as ADA maintains this level, the uptrend remains intact, but traders should watch for any further decline in ADX that could hint at waning strength.

Cardano Whales Return—Is Accumulation Back On?

The number of Cardano whale addresses—wallets holding between 1 million and 10 million ADA—has slightly increased to 2,408, up from 2,405 on April 22.

This follows a brief decline from 2,421 on April 20, suggesting a small but notable return of larger holders after a short distribution period.

While the change may seem minimal, it marks a potential shift in sentiment among high-stake investors, who often play a key role in driving price trends due to the sheer volume of assets they control.

Addresses Holding Between 1 Million and 10 Million ADA.
Addresses Holding Between 1 Million and 10 Million ADA. Source: Santiment.

Tracking whale activity is crucial because these large holders can significantly influence the market. When whales accumulate, it’s often viewed as a sign of confidence and can act as a leading indicator of upward price movement.

Conversely, when whales begin to offload their holdings, it may signal weakening conviction or an expectation of short-term price drops.

The recent uptick from 2,405 to 2,408 may indicate a renewed interest among whales in accumulating ADA, hinting at a possible rebound or continued strength in price—especially if this trend continues.

ADA’s Uptrend Holds, But Key Support Must Survive

According to its EMA lines, Cardano price remains in an uptrend, with short-term moving averages still above the long-term ones—a classic sign of sustained bullish momentum.

This alignment suggests the broader trend favors the bulls despite recent price consolidation.

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

However, ADA is trading within a tight range, facing resistance at $0.709 and supported at $0.668, setting the stage for a potential breakout or breakdown.

If the $0.668 support is tested and fails, ADA could decline toward the next support level at $0.634, and a deeper slide might push it down to $0.59, marking a more significant correction.

Conversely, a clean break above $0.709 resistance would likely trigger renewed bullish momentum, with the next upside target around $0.77.

The post Cardano Whales Start Buying Again as ADA Price Holds a Tight Range appeared first on BeInCrypto.