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Abu Dhabi Invests a Record $2 Billion in Binance

Monicah W

Binance announced today that MGX, a sovereign wealth fund from Abu Dhabi, invested $2 billion in the company. The transaction happened entirely using stablecoins.

This is both the largest investment ever made in a crypto-related business and the largest investment ever made using cryptoassets. Binance didn’t specify which stablecoin was used, but the UAE has favored Tether products in the past.

MGX Makes Record Binance Investment

The United Arab Emirates has recently been positioning itself as a crypto hub, and Abu Dhabi is a particular region of interest. MGX, an Abu Dhabi-based Web3 fund that has already made massive AI investments, has today announced a record investment in Binance.

Changpeng “CZ” Zhao, former CEO of Binance, also shared this news on X (formerly Twitter).

“MGX, an Abu Dhabi sovereign wealth fund, invests $2 billion in Binance for a minority stake. The transaction will be 100% in crypto (stablecoins), marking it the largest investment transaction done in crypto to date. This is also the first institutional investment Binance has taken. Onwards,Build!” CZ wrote.

Binance, the world’s largest crypto exchange, also corroborated these claims with its own press release. This MGX investment isn’t Binance’s first entanglement with Abu Dhabi, as the firm considered setting up a headquarters there.

However, in 2023, CEO Richard Teng scrapped its UAE license application, signaling a shift away from the nation.

Since then, however, interest has shifted back. The firm’s press release claimed that roughly one-fifth of its workforce is based in the UAE, for example.

Teng called the development a “significant milestone” and said Binance is “committed to working with regulators worldwide.” This MGX investment will likely increase economic ties in the region.

“We are excited to announce the first-ever institutional investment in Binance by MGX. This is a significant step in advancing digital asset adoption and reinforcing blockchain’s role in global finance,” Binace annouced on X.

Also, Binance claimed that MGX made this $2 billion investment entirely in stablecoins. Last August, Tether launched a stablecoin pegged to the UAE’s currency, and Abu Dhabi subsequently recognized USDT as an Accepted Virtual Asset.

Binance’s announcements have been surprisingly light on the exact details of its future relationship with MGX.

However, they were very clear that it was a big deal. This marks the largest-ever investment in a crypto firm and the largest investment paid entirely in cryptocurrency. Wherever the partnership goes from here, it has already made history.

The post Abu Dhabi Invests a Record $2 Billion in Binance appeared first on BeInCrypto.

News

Pi Network Token Posts Double-Digit Gains as Investors Gear Up for Pi Day

Monicah W

Pi Network’s native token, PI, has bounced back following a few days of decline. It has noted a 6% gain in the past 24 hours to trade at $1.47 at press time. 

The recovery comes ahead of Pi Day on March 14. There is also growing market speculation about a potential Binance listing.

PI Gains 21% as Traders Gain Confidence

PI has jumped 21.3% over the past 24 hours, driven by growing speculation over a potential Binance listing and the upcoming Pi Day announcements on March 14. 

This date also marks the deadline for KYC completion and the migration of PI holdings from the mobile app to the Mainnet. These upcoming developments have triggered a new wave of PI demand, putting upward pressure on its price.

The steady rise in PI’s Relative Strength Index (RSI) reflects the surge in buying activity among spot market participants. The momentum indicator is in an upward trend and poised to break above the 50-center line at press time. 

PI RSI.
PI RSI. Source: TradingView

When an asset’s RSI is attempting to cross above its 50-neutral level, it signals a shift in momentum from bearish to bullish. This suggests that buying pressure is increasing, potentially leading to further price gains if the trend continues. 

A confirmed move above 50 would reinforce positive sentiment around PI and attract more traders looking for upward momentum.

Furthermore, its positive Chaikin Money Flow (CMF) confirms this bullish outlook. This indicator, which tracks how money flows into and out of PI, is above zero at 0.16.

PI CMF.
PI CMF. Source: TradingView

This trend indicates that buying pressure is stronger than selling pressure among PI traders. It signals that investors are confident in the asset, increasing the likelihood of further price appreciation.

PI Eyes Recovery After Steep Drop—Can It Reclaim $2?

PI has steadily declined, plummeting over 19% in the past week. This has pushed its price under a key price level of $1.62, which forms significant resistance. If the bullish trend persists and the demand for PI soars, its price could attempt to breach this level.

A successful break above $1.62 could propel PI above $2 and closer to its all-time high of $3.

PI Price Analysis
PI Price Analysis. Source: TradingView

On the other hand, a resurgence in profit-taking would invalidate this bullish projection. If selloffs spike again, PI’s price would resume its downtrend and fall to $1.34.

The post Pi Network Token Posts Double-Digit Gains as Investors Gear Up for Pi Day appeared first on BeInCrypto.

News

Cardano Sinks 22% in a Week, But Long-Term Holders Remain Unfazed

Monicah W

Cardano’s price has seen a steep 22% decline over the past week, mirroring the broader market downturn. As of this writing, the eighth-largest cryptocurrency by market capitalization retails at $0.73.

However, its long-term holders (LTHs) remain unfazed. On-chain data shows that they are holding onto their assets rather than selling.

Cardano’s Long-Term Holders Double Down 

There has been a steady trend of HODLing among ADA’s LTHs, as reflected by its rising Mean Coin Age. According to Santiment, this metric’s value is up 1% since March 3. 

ADA Mean Coin Age
ADA Mean Coin Age. Source: Santiment

An asset’s Mean Coin Age tracks the average age of all its coins in circulation to provide insights into market trends and hodling patterns among investors. 

When it rises, it suggests that investors are holding onto their coins, signaling accumulation and confidence in the asset’s long-term value. This reflects strong hands and hints at a potential bullish outlook for ADA, especially in light of recent broader market headwinds.  

Moreover, ADA whales have increased their accumulation during the period under review, highlighting the surge in positive sentiment toward the altcoin. On-chain data from Santiment shows that large investors holding between 100,000 and 1,000,000 coins have collectively acquired 20 million ADA over the past week. 

ADA Supply Distribution
ADA Supply Distribution. Source: Santiment

When large investor holdings increase like this, it signals strong confidence among key holders. It reduces an asset’s available supply, creating upward price pressure. 

ADA Eyes $0.94 as Buyers Dominate 

On the daily chart, ADA’s Balance of Power (BoP) is positive at 0.30. This indicator compares the strength of buyers and sellers in the market.

When its value is positive, buyers dominate the market, exerting stronger pressure than sellers. The bullish signal suggests upward momentum, which, if sustained, will lead to further ADA price appreciation.

In this instance, the coin’s price could rally toward $0.94. If this resistance is flipped into a support floor, ADA’s price could jump to $1.16.

ADA Price Analysis
ADA Price Analysis. Source: TradingView

However, if sellers regain dominance, the coin’s price could fall to $0.60.

The post Cardano Sinks 22% in a Week, But Long-Term Holders Remain Unfazed appeared first on BeInCrypto.

News

US Bitcoin ETF Holdings Fall Below Satoshi As Outflows Continue

Monicah W

Bitcoin ETF outflows have nearly amounted to $750 million in the last two days as the crypto market consistently fell. BlackRock, the largest issuer, has offloaded around 2,000 BTC in the previous 24 hours.

Together, the ETF issuers sold off enough BTC that they collectively hold less than Satoshi. They surpassed him three months ago and continued buying huge amounts of Bitcoin, indicating truly massive sales.

Bitcoin ETF Outflows Continue

Since the Bitcoin ETFs first got SEC approval last year, they’ve had a transformative impact on the market. Lately, however, they’ve been turning bearish.

Towards the end of February, the market saw $2.7 billion in outflows, and this trend continued. The last four consecutive weeks had outflows, and the market already lost nearly $750 million this week alone.

bitcoin etf
Bitcoin ETF Net Outflow. Source: SoSoValue

This marks the seventh consecutive day of outflows for this ETF market. IBIT, BlackRock’s product, led these losses with $151 million in the last 24 hours.

In mid-February, some analysts began speculating that BlackRock would begin selling its Bitcoin, and ETF analyst Shaun Edmondson noticed how large of a trend it’s becoming:

“I know the markets are very ‘risk off’ at the moment with the Tariff uncertainty, but this is yet another outflow day from the US Spot ETFs, collectively now falling below Satoshi again. Given the bullish narrative from the SEC, Strategy raising 21 billion, State [Bitcoin Reserve] race and National [Bitcoin Reserve] bill, I find this a little surprising,” Edmondson claimed.

BlackRock alone has offloaded around 2,000 BTC since Edmondson posted yesterday’s daily tallies. It’s unclear how far the ETF issuers want to take this trend, but these Bitcoin sales are very concerning.

These issuers surpassed Satoshi’s Bitcoin holdings in December, so these outflows have already eaten up three months’ worth of vociferous purchasing.

Still, despite this ETF pessimism, Bitcoin’s actual price could be doing a lot worse. The entire crypto market has been hit with massive outflows, and BTC fell accordingly.

However, the US CPI report this morning was better than anticipated, which allowed Bitcoin a little breathing room. It’s anyone’s guess, however, how long this reprieve will actually last.

The post US Bitcoin ETF Holdings Fall Below Satoshi As Outflows Continue appeared first on BeInCrypto.

Cryptocurrencies Price Prediction: Will Bitcoin’s Recent Crypto Market Bounce Last Ahead of CPI?

Monicah W

Cryptocurrencies Price Prediction: Will Bitcoin's Recent Crypto Market Bounce Last Ahead of CPI?

Cryptocurrencies price trends are showing significant movement, with Bitcoin price hovering around $81k after a slight recovery of 5% yesterday. This comes after a notable price correction in the past few days. The global cryptocurrency market cap stands at $2.64 trillion, reflecting a 0.91% increase within the last 24 hours. However, volatility is expected as the U.S. Consumer Price Index (CPI) data is set to be released today, Wed, March 12th, which may impact market activity.

Cryptocurrencies Price Forecast: Will Bitcoin’s Recent Surge Endure Ahead of CPI?

U.S. Consumer Price Index (CPI) data will be released on Wednesday, March 12, attracting significant market attention. Projections indicate a 2.9% increase in inflation, but actual inflation is expected to come in much lower at around 2.4-2.5%. 

Current true inflation statistics demonstrate this pattern since the CPI reveals positive signs of deceleration. Market observers remain focused on the possibility of Bitcoin price growth because the economy shows both current inflation challenges and initial adverse crypto market trends.

Will Bitcoin Price Recover to $90k After CPI Released?

The BTC price hovered around $81,720 on March 12, 2025, as volatility remained a defining feature in the crypto market. Despite fluctuations, the BTC price maintains a relatively stable range, with a critical support level established just below $80,000.

The Moving Average Convergence Divergence (MACD) reveals mixed signals. The MACD line is above the signal line in the 4-hour chart.

The Relative Strength Index (RSI) remains in a neutral zone at 44.37, just above the 40 mark, hinting that Bitcoin is neither overbought nor oversold, with $82k acting as a significant resistance level. If the BTC price breaks this, the next level lies at the $90k mark. 

On the downside, if the Bitcoin price prediction fails to maintain support around $80k, further declines might bring the price closer to the $70,000 range.

Cryptocurrencies Price Prediction: Will Bitcoin's Recent Crypto Market Bounce Last Ahead of CPI?
Source: TradingView

Is the Crypto Market Poised for Recovery?

The other crypto markets are seeing a slight surge, with ETH price struggling to regain its trend amid market uncertainty. The latest ETH price is trading at $1,910, reflecting a minor 1% increase. 

If Ethereum price prediction continues to face downward pressure and closes below $1,900, it may test its next support level at $1,800. On the other hand, if a recovery happens, ETH could rally back above the $2,200 level. 

Cryptocurrencies Price Prediction: Will Bitcoin's Recent Crypto Market Bounce Last Ahead of CPI?
Source: TradingView

The top altcoin market, like XRP, is showing a strong performance, up by over 5%, while Solana (SOL) hovers around $130 with a modest 0.2% increase. Dogecoin (DOGE) also experiences a 5% uptick, as other top coins follow the upward momentum.

The upcoming CPI data will significantly affect the Bitcoin price fluctuations. Market changes after the CPI response will establish future market patterns specifically when inflation trends downwards. If the market conditions stay favorable Bitcoin may push through greater resistance points while cryptocurrencies price exchange values continue to change as expected.

The post Cryptocurrencies Price Prediction: Will Bitcoin’s Recent Crypto Market Bounce Last Ahead of CPI? appeared first on CoinGape.

Mesh Raises $82M ‘Stablecoins Supported’ Funding, to Expand its Global Crypto Payments Network

Monicah W

Mesh, a pioneering global crypto payments network established in 2020, has announced securing $82 million in funding to expand its global crypto payments infrastructure.

Its network, which interconnects prominent exchanges, wallets, and financial services, allows users to transact using various crypto assets such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Notably, merchants receive the equivalent value in stablecoins like PYUSD or USDC, ensuring predictable settlements.

As stablecoins gain prominence in global crypto payments, Mesh disclosed that a significant portion of its $82 million funding was settled in PayPal-backed USD stablecoin (PYUSD). The funding round was led by Paradigm, with participation from ConsenSys, QuantumLight Capital, and Yolo Investments—marking a major milestone in Mesh’s mission to enhance seamless crypto transactions and further integrate stablecoins into global payment networks.

Mesh’s Global Payment Network – ‘Making Crypto as simple as fiat’

Mesh, at the forefront of crypto payments innovation, provides users and merchants a secure, efficient, and user-friendly platform that connects exchanges, wallets, and financial services.

With over 300 supported platforms, including major crypto exchanges like Binance, Coinbase, and MetaMask, Mesh enables users to transact directly from their wallets without requiring traditional intermediaries. This integration simplifies the payment process, eliminating the need for manual address entries or switching between platforms.

By eliminating the need for manual address inputs and reducing transaction friction, Mesh aims to streamline crypto adoption in everyday payments. Notably, last year in November, Mesh, as the U.S. fintech whose investors include PayPal Ventures, joined forces with Reown (formerly WalletConnect) to launch wallet ownership verification for UTXO-based assets, beginning with Bitcoin.

And now Mesh aims to use the newly secured funds to expand Mesh’s payment infrastructure, focusing on integrating more financial institutions and enabling broader stablecoin settlements.

Stablecoins
Mesh’s Global Crypto Payments Network

Stablecoins at the Center of VC Funding

As mentioned, one of the most notable aspects of Mesh’s funding round is that a significant portion of the investment was settled using PayPal’s stablecoin (PYUSD). This highlights the growing role of stablecoins in institutional finance, demonstrating their ability to serve as a bridge between crypto and traditional financial ecosystems.

The adoption of stablecoins and the other cryptocurrencies for the global real-world payments has been witnessing accelerating attention with major firms such as Stripe, PayPal, Plume, among others, working towards it.

Stablecoins, such as PYUSD, USDC, and USDT, have gained traction as preferred digital assets for global payments due to their price stability and instant settlement capabilities. Mesh is actively working to enhance its stablecoin-based settlement network, allowing businesses to accept various cryptocurrencies while receiving stable and predictable payouts in USD-pegged digital assets.

In another recent boost to the accelerating stablecoin adoption, the US administration has been witnessing significant momentum in Washington for the passage of new Stablecoin Bill, known as Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

The Future of Crypto Payments

As crypto adoption continues to grow, the demand for reliable payment infrastructure is increasing. Mesh’s success in securing $82 million in funding signals a strong market demand for frictionless, stablecoin-based payments.

With an increasing number of companies and merchants embracing crypto transactions, Mesh is well-positioned to become a key player in the Web3 financial ecosystem. As the regulatory landscape evolves and stablecoins gain wider acceptance, platforms like Mesh will play a crucial role in bridging the gap between crypto and traditional finance.

Thus, with the backing of leading investors and a clear roadmap for expansion, Mesh is poised to reshape the future of digital transactions. As the company scales its operations, the impact of stablecoins and crypto payments on mainstream finance is expected to grow, paving the way for a more efficient and interconnected digital economy.

For more updates on Mesh and its global expansion, stay tuned to BrandTalk on our latest reports on advancements by Web3 Brands.

The post Mesh Raises $82M ‘Stablecoins Supported’ Funding, to Expand its Global Crypto Payments Network appeared first on CoinGape.

Breaking: 21Shares Reduces Fees for Bitcoin Ethereum Core ETP, Lists on Xetra

Monicah W

Breaking: 21Shares Reduces Fees for Bitcoin Ethereum Core ETP, Lists on Xetra

In a groundbreaking revelation, 21Shares announced a significant reduction in the management fees for its Bitcoin Ethereum Core ETP (ABBA). In addition, the ETP provider listed ABBA on the Xetra exchange, effective March 12, 2025, aiming to make crypto investments more affordable and accessible.

Notably, 21Shares’ ABBA offers investors a cost-effective way to invest in both Bitcoin and Ethereum, with the added security of being fully backed by these two leading cryptocurrencies. Let’s now unveil how the latest development will provide advanced investment opportunities in Bitcoin and Ethereum.

21Shares Lowers ABBA’s Management Fees and Lists on Xetra

According to a press release, 21Shares, one of the world’s largest ETP providers, announced the reduction of management fees for its Bitcoin and Ethereum Core ETP (ABBA) to 0.49%.

Significantly, the fee reduction coincides with the listing of ABBA on the Xetra exchange, which took effect on March 12, 2025.

The post Breaking: 21Shares Reduces Fees for Bitcoin Ethereum Core ETP, Lists on Xetra appeared first on CoinGape.

Pi Network Price Implication If Trump Mentions Pi Coin in Next Press Briefing

Monicah W

Pi Network Price Implication if Trump Mentions Pi Coin in Next Press Briefing

President Donald Trump’s recent recognition of Ethereum, Cardano, Solana, and XRP has drawn attention to other rising cryptocurrencies. With Pi Network price climbing as the token secures its position as the 11th largest crypto by market cap, speculation is rife over whether Trump will mention Pi Coin in his next press briefing. If this happens, how high will Pi Network price rally? 

How High Will Pi Network Price Rally if Trump Mentions Pi Coin? 

There are several factors that could make Pi Network price the next topic in Trump’s crypto discussions, fueling a parabolic rally. White House crypto czar David Sacks recently told Bloomberg that Trump mentioned ETH, XRP, SOL, and ADA because they rank among the top five cryptocurrencies by market cap.

In the meantime, Pi Network token is rapidly closing in, securing its spot as the 11th largest crypto just weeks after launch. Beyond its market position, Pi Coin has also overtaken Ethereum in social following, making it the fourth most-followed cryptocurrency.

Pi Network Price Implication if Trump Mentions Pi Coin in Next Press Briefing
Pi Network X Following

With Pi Network price surging amid growing adoption and investor interest, it could soon be among the top digital assets Trump highlights in his next press briefing.

Pi Coin is also swiftly gaining adoption in the US. The token has gained entry into a trillion-dollar US industry. Additionally, Pi Network is one of the affiliate members at Stanford School of Engineering alongside other US crypto companies such as Ripple and a16z, whose executives were present at the White House Crypto Summit. 

As Pi Coin gains inroads in the US, it could soon be recognized as one of the top US altcoins. This could prompt Trump to mention it during his pro-crypto press briefings and drive a Pi Network price rally. 

Grok AI notes that if Trump were to mention Pi Coin, the price could rally by as much as 200% within a few hours. If this rally extends for days, it would target $100. It noted,

“Realistically, a mention alone might drive a 100-150% rally within 48 hours, mirroring past Trump-induced spikes. For a longer-term surge—say, toward $100 or beyond.”

Pi Network Token Soars 20% – More Gains Ahead? 

As the Pi Coin community awaits a potential mention by Trump, Pi Network price is already rallying ahead of the project’s sixth anniversary on March 14. At press time, the Pi Network token trades at $1.66 after a staggering 20% gain in 24 hours. After these gains, Pi Coin flipped resistance at $1.44, and could soon rally to the 123.6% Fibonacci level of $3.42. 

The RSI stands at 62, which is a bullish zone. It shows that buying pressure and the upward trend are strong, which could spark a major Pi Coin price rally. 

The MACD line is tipping upwards and attempting to cross over to the positive region to confirm the bullish thesis. At the same time, the MACD histogram bars show that buyers are in control. 

As these bullish signs emerge, the Pi Network price prediction shows that a rally past $3 is likely to happen in the near term. 

Pi Network Price Implication if Trump Mentions Pi Coin in Next Press Briefing
PI/USDT: 2-hour Chart

In summary, Pi Network price today is bullish ahead of the project’s sixth anniversary on March 14. However, if the project’s iconic growth piques the interest of President Trump, the token could rally by 200% within a few hours and possibly hit $100 within days.  

The post Pi Network Price Implication If Trump Mentions Pi Coin in Next Press Briefing appeared first on CoinGape.

XRP Price May Hit $3.3 If It Holds This Support, Analyst Predicts

Monicah W

XRP Price May Hit $3.3 If It Holds This Support, Analyst Predicts

XRP price has recorded a surge of over 4% today, indicating renewed market confidence towards the asset. However, the surge comes amid a broader market recovery, with the global crypto market cap soaring nearly 2% to $2.66 trillion. Amid this, top experts have highlighted key price levels for Ripple’s native asset, hinting at a recovery to above $3 in the near term.

XRP Price Soars: What Lies Ahead?

XRP price today was up over 4.5% and exchanged hands at $2.199, while its one-day trading volume fell 31% to $6.59 billion. Notably, the crypto has touched a 24-hour high and low of $2.24 and $2.06. Notably, the crypto’s RSI stood at 44, indicating a shifting momentum in the market. Simultaneously, the asset’s Futures Open Interest rose 2.5%, reflecting the renewed market interest, CoinGlass data showed.

Amid this, renowned analyst Patric Bet-David recently hinted towards a potential XRP rally to $1000, which has fueled market optimism. Besides, the renowned market experts also remained bullish on the future trajectory of the crypto, indicating a strong recovery ahead.

Expert Predicts Rally To $3.3

Renowned expert Rose Premium Signals has predicted a significant rally for XRP price, citing a descending channel pattern on the daily timeframe. According to the expert, this pattern suggests accumulation before the next leg up, indicating a potential surge in the asset’s value.

The expert predicts that a bounce from the current support level of $2.12 could drive the price towards key targets at $2.32, $2.61, $2.90, and ultimately $3.35. This would represent a significant increase from the current price level. Having said that, traders are keeping close track of Ripple’s native asset’s performance, as a breakout from the descending channel pattern could trigger a substantial rally.

XRP Price
Source: Rose Premium Signals, X

Other Experts Weigh In Amid XRP Surge

As the XRP price recorded a surge, other experts also weighed in. Expert EGRAG CRYPTO has reiterated his stance on Ripple’s native asset, hinting towards a potential 700% XRP rally if it repeats its previous performance.

XRP price prediction
Source: EGRAG CRYPTO, X

Simultaneously, CasiTrades noted that XRP has found its support at $1.9. As long as the crypto holds above the level, it could continue its run towards the north. Besides, the expert has highlighted the $2.25 and $2.7 as the next resistance levels, breaking which could push the price further high.

Ripple prediction
Source: CasiTrades, X

This optimism was further buoyed by the latest XRP ETF filing by Franklin Templeton with the US SEC. This has injected a fresh wave of optimism among traders, who are eying further rally for the asset. Highlighting the development, analyst Dark Defender noted “Double digits for XRP will be as easy as a pie.”

The post XRP Price May Hit $3.3 If It Holds This Support, Analyst Predicts appeared first on CoinGape.

Cardano (ADA) Price Prediction For March 12

Monicah W

Cardano (ADA) Price Prediction for March 7

The post Cardano (ADA) Price Prediction For March 12 appeared first on Coinpedia Fintech News

ADA, the native token of the Cardano blockchain, appears to be facing a small correction after a bullish breakout on March 11, 2025. Despite the ongoing price correction on the four-hour timeframe, ADA seems to be forming a bullish inverted head and shoulders pattern on the same timeframe.

Cardano (ADA) Technical Analysis and Upcoming Level 

According to expert technical analysis, ADA appears bullish on both the four-hour and daily timeframes. It has recently taken crucial support from a key level of $0.65, and the price has now begun to recover. On smaller timeframes, it seems to be forming a bullish price action pattern, indicating a potential upside rally soon.

Based on recent price action and historical patterns, if the asset breaches the bullish pattern and closes a four-hour candle above the $0.75 level, there is a strong possibility it could soar by 9% to reach $0.80 in the coming days. Additionally, this could further open the gate for a 40% upside rally, potentially pushing the price to $1.13 in the near future.

Source: Trading View

With the recent price decline, the asset has already fallen below the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating that it is still in a downtrend. However, its Relative Strength Index (RSI) appears to be recovering, which is a bullish sign for the asset.

ADA Current Price Momentum

ADA is currently trading near $0.72 and has experienced a price surge of over 2% in the past 24 hours. However, during the same period, its trading volume jumped by 20%, indicating heightened participation from traders and investors compared to the previous day.

Traders Over-Leveraged Positions

As the price moves closer to the neckline of the bullish inverted head and shoulders pattern, traders’ bets on the long side appear to be rising, as reported by the on-chain analytics firm Coinglass.

Data reveals that traders are currently over-leveraged at $0.70 on the lower side, with bulls having built $12 million worth of long positions, believing the price won’t fall below this level. On the other hand, bears are currently over-leveraged at $0.75, having built $9 million worth of short positions in the past 24 hours.

When combining these on-chain metrics with the bullish price action, it appears that ADA could soon breach the neckline and soar significantly in the coming days.

The post Cardano (ADA) Price Prediction For March 12 appeared first on Coinpedia Fintech News
ADA, the native token of the Cardano blockchain, appears to be facing a small correction after a bullish breakout on March 11, 2025. Despite the ongoing price correction on the four-hour timeframe, ADA seems to be forming a bullish inverted head and shoulders pattern on the same timeframe. Cardano (ADA) Technical Analysis and Upcoming Level  …