Cardano (ADA) is one of the cryptocurrencies included in the Crypto Strategic Reserve. However, due to bearish market sentiment, it has been continuously struggling to gain momentum. Today, March 8, 2025, amid market uncertainty, the asset has registered a 5% price drop and has reached a crucial support level.
Cardano (ADA) Technical Analysis and Upcoming Levels
As ADA reaches a crucial support area, concerns are rising about whether the price will hold this level or fall below it due to bearish market sentiment. Let’s see what happens in the coming days.
Source: Trading View
According to expert technical analysis, the $0.81 level is a strong support zone with significant buying pressure and potential for a price reversal. If the current sentiment persists and the price falls, closing a four-hour candle below $0.81, there is a strong possibility of an 18% decline to $0.68. On the other hand, if ADA holds this level, it has the potential to rebound and surge by 35%, reaching $1.15 in the future.
At present, ADA is trading at the 200 Exponential Moving Average (EMA), which provides strong support and indicates that the asset is still in an uptrend.
Current Price Momentum
At press time, ADA is trading near $0.827, having registered a 5% price drop in the past 24 hours. During the same period, its trading volume declined by 10%, indicating lower participation from traders and investors compared to the previous day.
Despite market uncertainty, traders are currently over-leveraged at $0.804 on the lower side and $0.84 on the upper side, according to on-chain analytics firm Coinglass.
Additionally, these levels hold $9.11 million worth of long positions and $5.45 million worth of short positions, indicating that bulls are strong and could support the asset in holding this level.
The DeFi world just got a major shakeup as Skyren DAO officially announced XRP, Polygon (MATIC), and Cardano (ADA) as key tokens in its Token Surge event — a move that’s sending shockwaves through the crypto community.
With Bitcoin struggling to hold key levels, investors are pivoting to high-yield DeFi opportunities — and Skyren DAO’s Token Surge is quickly becoming the hottest event of the year.
What is the Token Surge event? How do XRP, MATIC, and ADA holders benefit? And why are analysts predicting Skyren DAO’s presale will be one of the biggest of 2025?
Let’s break it all down!
Skyren DAO’s Token Surge: What It Means for XRP, ADA, and MATIC Holders
Skyren DAO’s Token Surge event is designed to reward early adopters and expand the platform’s reach by integrating top-performing altcoins into its staking ecosystem.
What’s in it for investors?
500 Free SKYRN Tokens – Eligible XRP, ADA, and MATIC holders can claim 500 SKYRN tokens for free, no purchase necessary.
Staking Rewards Up to 216% APY – Participants can stake their newly acquired SKYRN for one of the highest yield opportunities in DeFi.
No Wallet Connection Needed – Unlike many airdrop programs, users don’t have to connect their wallets — ensuring a safer claim process.
Multi-Chain Flexibility – XRP, MATIC, and ADA holders are now part of the Skyren DAO ecosystem, benefiting from automated airdrop collection and governance rewards.
Why Skyren DAO is Gaining Major Investor Attention
While other altcoins fight for relevance in a bearish market, Skyren DAO is offering real, sustainable DeFi opportunities — giving XRP, MATIC, and ADA holders a way to generate passive income instead of waiting for price pumps.
Why Smart Money is Moving to Skyren DAO:
High APY staking – Instead of hoping for price recovery, Skyren DAO rewards holders with high-yield passive income.
Automated airdrop collection – No manual claiming — Skyren’s AI system tracks and collects free rewards for users.
AI-powered governance – Unlike centralized models, Skyren DAO uses AI for efficient decision-making.
Skyren DAO vs. Other Yield Options
Feature
XRP, ADA, MATIC Staking
Skyren DAO (SKYRN)
Staking APY
2-7%
Up to 216%
Passive Income
Limited
Staking + automated airdrop collection
Governance
Centralized
AI-driven DAO
Security
Varies
Triple-audited smart contracts
Skyren DAO isn’t just another staking platform — it’s an entire DeFi ecosystem designed to maximize investor returns. To see how Skyren is redefining the market, watch Crypto Show’s deep dive.
Skyren DAO’s Security: Fully Audited & Verified
Unlike DeFi projects that promise big returns with no transparency, Skyren DAO is fully decentralized, secured, and audited.
No sketchy security loopholes, no central authority controlling rewards — just real, audited, DeFi-powered returns.
Skyren DAO Presale Phase 7 Is Live
Even if you aren’t eligible for Token Surge, there’s no reason to miss out — Skyren’s presale lets you secure SKYRN at a discount and unlock all its benefits.
How to buy SKYRN before prices increase:
Go to Skyren.io
Connect your Web3 wallet (MetaMask, Trust Wallet, etc.)
Choose your investment amount — pay with ETH, USDT, or other crypto
Secure your allocation before prices increase
With a presale price of just $0.056, Skyren DAO stands out as one of the most promising high-upside opportunities in DeFi today.
Final Thoughts: A Massive DeFi Opportunity for XRP, ADA, and MATIC Holders
Skyren DAO just integrated three of the biggest altcoins — XRP, ADA, and MATIC — into its staking ecosystem, giving the holders a chance to get 500 free SKYRN + up to 210% APY. No wonder investors are rushing in!
The post Breaking: XRP, Polygon, and Cardano Selected for Skyren DAO’s Token Surge Event – Staking Rewards Up to 210% APY appeared first on Coinpedia Fintech News
The DeFi world just got a major shakeup as Skyren DAO officially announced XRP, Polygon (MATIC), and Cardano (ADA) as key tokens in its Token Surge event — a move that’s sending shockwaves through the crypto community. With Bitcoin struggling to hold key levels, investors are pivoting to high-yield DeFi opportunities — and Skyren DAO’s …
A recent security breach has led to a significant drop in the ZK price, as hackers managed to drain $5 million worth of tokens from a compromised admin account.
The attack, which targeted the ZKsync protocol, triggered a sharp decline in the value of the ZK token, which had been experiencing positive momentum since its launch in June 2024.
Details of the ZKsync Security Breach
On April 15, the ZKsync security team confirmed that an attacker had gained control of an admin account managing the airdrop contract. The hack involved the creation of roughly 111 million unclaimed ZK tokens, which were then embezzled. The attacker successfully utilized this vulnerability by invoking the sweepUnclaimed() function to create and transfer the unclaimed tokens.
The admin account exploited and controlled the airdrop contract, a counter that distributed ZK tokens to users.
The minting transaction added approximately 0.45% of the total ZK token supply to the circulating supply of the tokens. The lost tokens were pegged at about $5 million. The attack only affected the airdrop distribution smart contracts; other contracts within the ZKsync protocol were not impacted.
User Funds Remain Safe
The ZKsync team reassured users that no user funds were at risk during the attack. The protocol and the ZK token contract remained secure. In a post on X, the security team stated, “All user funds are safe and were never at risk,” adding that “necessary security measures” were being taken. They also emphasized that the incident was isolated and confined to the airdrop contract.
According to the team investigation, the compromised admin account’s address was identified, and the ZKsync team will work with organizations to recover the stolen funds.
They also encourage the attacker to contact them for negotiations regarding the return of the stolen tokens. “We are coordinating the recovery efforts with @_seal_org and exchanges,” the team mentioned.
ZK Price Decline Following the Breach
Following the crypto hack, ZK’s price dropped significantly, which is the second of the major crypto crashes witnessed this week. After the announcement, ZK’s price fell by around 20%, likely due to the hacker selling the stolen tokens on the market. By the time of the report, the price had recovered slightly but was still down about 12% from the intra-day high.
This price drop directly responds to the increased circulation of tokens due to the hack. The influx of additional tokens into the market raised concerns among investors, contributing to the decline.
However, the ZKsync team’s assurance that no further vulnerabilities exist has calmed some fears, although the price has not fully recovered.
Ongoing Investigation and Recovery Efforts
ZKsync has stated that the investigation into the incident is ongoing. According to Zksync inventor Alexzk, a more detailed update will be shared once the team has completed its findings.
In addition, the ZKsync team is actively working with exchanges to help recover the stolen funds. They have also contacted the attacker to facilitate the return of the stolen tokens, warning that legal consequences could follow if the situation is not resolved.
While the attack’s immediate impact has temporarily dropped the price of ZK tokens, the team remains confident in the overall security of the ZKsync protocol.
XRP price holds strong at $2.13 as the broader market witnesses increased volatility this week. Ripple’s XRP token might soon take off, as the Q1 report notes multiple key wins hinting at a strong 2025. The growing institutional interest in XRP-based products globally and the end of the SEC lawsuit arc have opened the path to a bullish road.
The XRP price trend on the four-hour chart showcases a minor decline from $2.33 to $2.11. This accounts for a 10% drop over the past 7 days. However, XRP price action reveals a falling wedge pattern in motion. This pattern is generally considered to give an upside breakout as the selling pressure diminishes.
Between April 28 to May 6, XRP price action formed two distinctive lower highs and lower lows. Connecting these swing points using trend lines results in a falling wedge setup. This pattern forecasts a 10% rally to $2.36 on a successful breakout above the wedge’s upper trend line at roughly $2.14.
Currently, XRP fluctuates near the 61.80% Fibonacci level at $2.13. Coinciding with the key Fibonacci support, the demand zone extends between $2.13 and $2.14. Due to the short-term decline, the 50 and 200 EMA lines warn of a death cross event in the 4-hour chart.
Furthermore, the 4-hour RSI line is close to hitting the oversold boundary level. This reflects the short-term decline in bullish momentum, leading to the negative cycle within the wedge pattern.
In case of a bullish breakout, once the broader market stabilizes, the Fibonacci levels paint a short-term price target near the $2.50 psychological level. In an optimistic case, the Fibonacci levels extend the price target from $2.75 to $3.15.
Daily XRP Price Chart
On the flip side, the crucial support below the wedge pattern remains the 50% Fibonacci level, coinciding with the $2 psychological mark.
Ripple’s XRP Q1 2025 Market Report
As the XRP price holds above the $2 mark, Ripple recently dropped the Q1 2025 XRP markets report. With multiple key developments in Q1 2025, the report highlights key wins for Ripple’s XRP.
The report highlights the Q1 2025 optimism fueled by positive developments by the U.S. administration. The key milestones highlighted in the report are Trump’s executive order to support crypto, Paul Atkins becoming the SEC chairman, and the bipartisan support for stablecoins.
Starting with institutional support, Franklin Templeton has filed an S-1 form for an XRP-based ETF and the Volatility Shares filing for three XRP ETFs. Furthermore, Brazil’s CVM has approved a dedicated XRP ETF, while CME Group has launched the XRP Futures.
Overall, the XRP investment products saw $37.7 million in weekly outflows, driving the year-to-date inflow to $214 million. The XRP investment product is just $1 million away from overtaking the global Ethereum funds.
Ripple’s XRP Ledger Cools Down in Q1
The on-chain data witnesses a cool-down phase in Q1 2025, a 30-40% decline in both new wallet creation and overall transaction volume on the XRP ledger. Notably, the DEX volume has decreased by 16% on a quarter-to-quarter basis.
Interestingly, Ripple’s stablecoin RLUSD has emerged as one of the key on-chain activity drivers. Its market cap surpassed $90 million, and it has recorded a cumulative DEX volume of more than $300 million.
Ripple’s $1.25 Billion Acquisition of Hidden Road
Additionally, the report boasts of Ripple’s acquisition of Hidden Road, one of the fastest-growing prime brokers in the world. This marks one of the largest acquisition deals in the digital assets space for $1.25 billion.
With the deal, Ripple aims to market its RLUSD stablecoin as an enterprise-grade USD-backed stablecoin with real-world utility. The company will likely leverage its collateral across prime brokerage products. This could make RLUSD the first stablecoin to enable cross-margining between the digital asset space and traditional markets.
Is XRP Price Primed to Reclaim $3?
With growing institutional adoption and primed to potentially bridge the digital asset and traditional market space, Ripple’s XRP might soon take off. Based on the price analysis, the wedge breakout rally could result in a bull run to $3 if the broader market remains stable.
