Cardano daily transactions have reached a peak of 50,000, buoyed by glowing fundamentals, including the prospects of an ADA ETF. ADA price surging from the fallout of positive on-chain metrics, with traders keeping their eyes peeled for a potential price breakout. Daily Transactions Reach 50,000 Driven By ADA ETF Prospects According to an X post from TapTools, daily transactions on Cardano have surged 50,000 from their previous lows. At the start of May, daily transactions were under 30,000, but numbers steadily climbed to set a new monthly high. Cardano transaction volumes are also pulling in impressive numbers, soaring to $684.6 million over the last day. The metrics around the network have seen Cardano price gain nearly 8% since the start of May. JUST IN: Daily Cardano $ADA transactions have climbed from ~30,000 to nearly 50,000 since the start of May. pic.twitter.com/MkDBkizB34 — TapTools (@TapTools) May 27, 2025 In the push… Read More at Coingape.com
Crypto analyst Master Kenobi has provided a bullish outlook for the Dogecoin price, predicting that it could reach a new all-time high (ATH) in 55 days. He revealed what needs to happen for DOGE to achieve this milestone by June, based on his 55-day target.
How The Dogecoin Price Could Reach A New ATH By June
In an X post, Master Kenobi stated that the Dogecoin price will likely reach a new all-time high within approximately 50 to 55 days once it breaks above the trendline he highlighted on his accompanying chart.
The chart showed that the crucial price level DOGE needs to break above, based on this trendline, is $0.15488. The analyst then remarked that a conservative price target for the top meme coin would be $0.90 by June 5-10.
Master Kenobi had made this prediction while alluding to an earlier post in which he indicated that the Dogecoin bottom was almost near. In that post, he stated that the last time DOGE experienced a downturn, there was a 100-day period from the local bottom to the local top. He noted the meme coin is now halfway through a similar timeframe.
In line with this, the crypto analyst expects the Dogecoin price to reach a new all-time high (ATH) during this period, although he admitted that it is unclear whether it will break the psychological $1 level.
Crypto analyst Kevin Capital also suggested that a massive rebound was on the horizon for the DOGE price. In an X post, he stated that everything is going according to plan for Dogecoin. He urged market participants to stay patient, noting that every day that passes is another day closer.
DOGE Traders Remain Undecided At The Moment
In an X post, crypto analyst Trader Tardigrade indicated that DOGE traders are currently undecided on the meme coin’s next move. In an X post, he stated that the Dogecoin price structure has been converging into a triangle pattern, indicating market indecision.
He noted that during this period, buyers hesitate to buy high, while sellers are cautious about selling low, leading to conservative behavior on both sides. The analyst added that this pattern typically occurs between a downtrend and an uptrend.
This market indecision currently explains why DOGE investors continue to accumulate and dump their coins at will with no clear sign of active accumulation or a wave of sell-offs. As CoinGape reported, crypto whales recently dumped 570 million DOGE, as the Dogecoin price continues to trade sideways.
The White House is preparing to issue a clarification on its proposed Strategic Crypto Reserve, with an official statement expected soon. The clarification is anticipated to address key concerns surrounding the funding mechanism for the initiative, particularly the legal and financial constraints that could affect the government’s ability to acquire and hold digital assets.
Strategic Crypto Reserve: White House To Address Key Questions
According to Fox Business senior correspondent Charles Gasparino, sources indicate that the Donald Trump administration is working on a statement regarding the Strategic Crypto Reserve. The statement, expected later today or tomorrow, aims to provide more details on how the initiative will be funded.
One of the primary concerns is the use of taxpayer funds to purchase digital assets. Under existing regulations, such an approach would require congressional approval. According to experts, this remains highly unlikely in the current political landscape. The challenge may lead policymakers to explore alternative methods to finance the reserve.
Charles Gasparino stated,
“My guess is it will address the funding mechanism, ie, the potential roadblock for buying digital coins with taxpayer money (they would need congressional approval, which is next to impossible).
Despite support from many industry members, Donald Trump’s crypto reserve has faced some criticism. Solana co-founder Anatoly Yakovenko strongly opposes the idea, arguing that government control over digital assets could threaten decentralization. He suggests that if a Crypto Reserve is inevitable, it should be managed by individual states rather than the federal government.
Potential Funding Solutions Under Consideration
To bypass the need for congressional approval, officials are reportedly exploring other funding mechanisms. One option would be utilizing Bitcoin previously seized from illicit activities. The U.S. government currently holds around 200,000 Bitcoins confiscated from individuals and organizations accused of financial crimes. Repurposing these assets could provide an immediate and legally feasible solution.
Another alternative under discussion is the creation of a sovereign wealth fund to finance cryptocurrency acquisitions. This approach, which has been suggested by experts, would allow the government to manage digital assets without relying on taxpayer dollars. If adopted, the fund could be structured similarly to sovereign wealth funds used to invest in strategic financial assets.
Market Reaction and Bitcoin Futures Trading Trends
Following reports about the Strategic Crypto Reserve, traders in the Bitcoin futures market reacted swiftly. Data from CryptoQuant shows that many traders took profits when Bitcoin price surged after the announcement. Short positions dominated as prices began to decline.
Source: CryptoQuant
However, a shift occurred after President Donald Trump made comments on cryptocurrency, leading to a short squeeze. Traders holding short positions rushed to cover their bets, causing Bitcoin price to rise. This sudden reversal triggered renewed optimism in the market, with investors opening long positions in anticipation of potential government policies favoring digital assets.
Meanwhile, Trump’s Crypto Czar criticized the Biden administration for missing out on $17 billion in potential Bitcoin profits. He pointed out that the government auctioned off 195,000 BTC for just $366 million over the past decade, failing to capitalize on the asset’s 4,500% surge.
With the White House Crypto Summit approaching, expectations are rising for a shift in U.S. crypto policy under Trump’s leadership.
Cardano (ADA) price risks a decline amid the upcoming Ethereum Pectra upgrade as historical patterns indicate that network improvements on ETH have not always boded well for ADA. Pectra is going live today, May 7, and Cardano is defying the odds with an intraday gain of 2% at press time. However, will history rhyme and force ADA to plunge and possibly lose crucial support at $0.66? Let’s explore.
Why Cardano Price Faces Pressure from Ethereum’s Pectra
The Cardano vs. Ethereum battle for dominance has been ongoing for years, considering that the two are some of the oldest layer one networks in the crypto industry. This battle has often led to ADA facing bearish pressure whenever there are improvements on the Ethereum network to improve its scalability and usage.
For instance, Cardano price recorded its steepest correction in 2021 that began after the London upgrade that introduced a mechanism to burn part of transaction fees to make ETH more deflationary. In 2022, ADA also declined after the Ethereum Merge that transitioned the network from proof-of-work to proof-of-stake.
Cardano Price Chart
The most recent ETH upgrade happened early last year when Cardano faced a 65% decline after Dencun. If history rhymes and the upcoming Pectra upgrade fuels a decline for this ETH rival, the ADA price is at risk of a steep downtrend.
Looming Long Liquidations Put ADA at Risk
If Cardano will crash and lose critical support as history rhymes, the cluster of long liquidations that are around $0.66 will fuel an even steeper downtrend. The liquidation map shows that more than $5.4 million in long ADA positions will be closed if the price falls to this level, and this will trigger a spike in selling pressure.
ADA Liquidation Map
Analyst Kamil reacted to this situation, stating that “ADA traders are playing with fire” as the high leverage on this altcoin will cause Cardano volatility as millions of positions are closed. Besides the high long leverage, another analyst also noted that a decline in whale activity and transactions will have a bearish effect on the Cardano price prediction. He said,
“Whales are stepping back and transaction has been down up to 83%. Still watching out for its momentum to get stable otherwise we will embrace weakening confidence from big players.”
These market conditions indicate that it is likely for the price of Cardano to face downward pressure in the coming weeks, and this will match the historical patterns whereby the altcoin dropped when the Pectra upgrade went live.
However, a spike in network activity may invalidate this bearish outlook towards the altcoin, as data from DeFiLlama reveals that the stablecoin market cap on the blockchain has reached an all-time high. This points to increased network usage that may bolster ADA’s utility.
Cardano Technical Analysis
The four-hour Cardano chart shows a mixed ADA technical outlook. The RSI has been rejected in its attempt to cross above 50, showing that the recent surge in buying pressure is waning, and this may cause a resumption of the downward trend depicted in the descending parallel channel.
However, Cardano price is teasing to break out from this channel, and the MACD has formed a buy signal after crossing above the signal line. A strong breakout from the bearish pattern will only occur if it makes a strong close above the resistance trendline, and the RSI also makes a higher high above 50.
ADA/USDT: 4-Hour Chart
To sum up, Cardano may be on the verge of a downward correction if history rhymes and the upcoming Pectra upgrade on Ethereum stirs a price decline. This bearish thesis will be invalid if ADA can make a decisive close from a descending trendline, as this will confirm that the trend is about to shift from a negative one to a sustained uptrend.
