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.
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.
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.
Hackers allegedly demanded 40 Bitcoin (BTC) from Gokal, as evidenced by this caption accompanying one of his images.
“You should’ve paid the 40 BTC,” the caption read.
Meanwhile, another image of Gokal holding up his passport was posted with the caption,
“It was only 40 BTC.. should’ve paid.”
BREAKING:
Famous rapper ‘Migos’ IG account appears to be hacked and has posted photos of Solana co-founder @rajgokal ID, passport, & more with sensitive info leaked.
Caption reads “you should’ve paid the 40 btc” which reads like a failed bribe. pic.twitter.com/HM9y2XRjMa
Additionally, some images appeared to contain more private information, such as phone numbers and email addresses. In fact, in one of the posts, hackers exposed Gokal’s personal number and urged followers to spam him. One post also included a photo of an individual identified as “Arvind.”
“There appears to be a guy Arvind who’s had his public SOL balance (or maybe it’s Raj’s?) leaked here,” Andy, co-founder of The Rollup, posted on X.
The posts remained visible for about 90 minutes before Meta removed them and regained control of the account. Besides the leaked images, the hackers altered Migos’ Instagram bio to advertise a meme coin.
“Also, there was just a link posted to a telegram group which is selling unreleased music,” Andy added.
Blockchain investigator ZachXBT also weighed in on the incident. He suggested that Gokal’s personal accounts were likely targeted through social engineering tactics over the past week.
“They tried to extort him for funds with the PII obtained. Guess he didn’t pay so they started trolling and posted it after they compromised Migos Instagram account today,” ZachXBT stated.
The hack follows Gokal’s previous warning on X. He notified users that hackers had been trying to break into his various online accounts recently.
“Attackers have been trying to take control of my email, social media, Google, Apple, etc. this past week. If you see anything suspect (token launch, soliciting funds, etc) that means they got through. be careful out there,” Gokal cautioned.
Is Solana Co-Founder’s Data Leak Linked to the Coinbase Breach?
Meanwhile, the nature of the leaked images suggested that they could be Know Your Customer (KYC) verification files. This has sparked concerns about a possible link to the recent Coinbase data breach.
“If they have the KYC for the founders of Solana, then they have the KYC for every single person that ever used their platform and this wasn’t even the KYC information like their address, it was the photos from the self verification you have to do when you send a picture of yourself with your passport this is like 10 times worse than a regular KYC leak,” an analyst wrote.
Despite the speculation, no concrete evidence yet ties Coinbase to Gokal’s data leak. Meta has not issued a public statement regarding the incident. Moreover, Gokal has yet to comment officially on the breach.
The US government agreed to drop Coin Center’s appeal concerning Tornado Cash, guaranteeing future protection from sanctions. The platform’s TORN asset spiked after the announcement.
Still, it’s a little unclear what the platform’s next steps are. Several of its leaders face ongoing legal battles, even if the decentralized software remains operational.
This is the official end to our court battle over the statutory authority behind the TC sanctions. The government was not interested in moving forward and defending their dangerously overbroad interpretation of sanctions laws.
Thank you again to our co-plaintiffs:…
— Peter Van Valkenburgh (@valkenburgh) July 7, 2025
According to a report from Bloomberg Law, the crux of the issue regards a Texas District Court’s ruling against Tornado Cash sanctions. Essentially, Coin Center was set on legally ensuring that the US government couldn’t use the same pretext to sanction the firm again.
After all, crypto is enjoying a good moment, but fortune can be fickle. Watchdogs have already raised the alarm that the US could sanction Tornado Cash again, prompting Coin Center’s lawsuit. Its aim has been successful, causing the TORN asset to rise over 4% today on top of a brief spike:
Nonetheless, it’s a little unclear where Tornado Cash will go from here. Although the platform is still operational, several of its main leaders face continuing legal battles. It’s a very good sign that the US sanctions aren’t coming back for the foreseeable future, but the platform has a long way to go to restore its former position.
The Pi Network has achieved a significant milestone, with over 12,000 applications created on its newly launched Pi App Studio platform in less than two weeks.
This achievement coincides with a roughly 3% increase in the price of Pi Coin (PI) over the past day. However, an expert warns that the PI may face challenges ahead unless the team implements some major changes.
This ease of use has made it popular among users, as a prominent Pioneer, Dr Altcoin, highlighted recently.
“The new Pi App submissions for the AI App Studio have surpassed 12,000!” the user posted.
Dr. Altcoin suggested that Pi Network has the potential to become the largest crypto project in history, even if only half of the submitted dApps are fully functional and approved. He pointed to several factors driving this potential.
These include Pi Network’s large KYC-verified user base, broad global reach in over 200 countries and regions, and distinctive requirement for KYB approval from centralized exchanges and businesses using Pi. Additionally, Pi Network leads the industry with the highest number of community-developed dApps.
“All of this will organically and significantly boost the price of Pi in the years ahead,” the Pioneer noted.
What Does Pi Coin Price Need to Recover?
Meanwhile, PI has shown signs of recovery. BeInCrypto data showed that the price rose 2.98% over the past day. At press time, Pi Coin’s trading price was $0.47.
However, the uptick is not due to Pi App Studio’s popularity but rather a market-wide rally driven by Bitcoin’s new record high. Furthermore, the small gains seem hardly enough to bring PI out of its nearly two-month-long slump.
Pi Coin’s price is just 16% away from its all-time low, and an expert claimed that it is ‘doomed to collapse below $0.40.’ Nevertheless, the Pioneer outlined several actions the team can take to save this sinking ship.
“If PCT (Pi Core Team) implements just 2 of the following 11 actions, the community can regain confidence, and the price can steadily rise again,” Pi Barter Mall stated.
Some of the strategies outlined include releasing a clear mainnet launch timeline, introducing DAO governance, and implementing token burn and buy-back programs. The user also proposes restarting mining rewards, providing incentives, launching liquidity pools, lending, staking, and cross-chain compatibility.
Furthermore, Pi Barter Mall stressed the importance of restoring user trust by sharing team holdings and addressing previous KYC restrictions.
“Without real action, Pi will lose the final layer of trust. But if PCT chooses the right path, we could witness a historic reversal,” the user concluded.
Previously, Ray Youssef, CEO of NoOnes, shared a similar perspective on Pi Network’s future. He emphasized that its success hinges on the team’s ability to move beyond the hype and focus on execution. The executive highlighted the importance of transitioning to an open mainnet, allowing free trading on public blockchains.
Youssef noted that this shift would enable price discovery and greater participation, key elements for the network’s long-term growth and sustainability.
“For Pi to sustainably reach or exceed $10 in a real market, it will need to have a full mainnet launch with open transfers, listings on high liquidity exchanges, a real economic layer, where people use Pi to buy, sell, or pay for services, and controlled inflation to ensure newly unlocked tokens don’t flood the market,” Youssef told BeInCrypto.
Thus, while the team continues to roll out new apps and updates, it still needs to go beyond these surface-level improvements and focus on the fundamentals to drive real price rally and sustainable growth for the network.
