Ethereum cofounder Jeffrey Wilcke has triggered a wave of pessimism for ETH after a hefty asset transfer to Kraken. On-chain data reveals that Wilcke moved 105,736 ETH to Kraken, stoking concerns of a mass sale, but a closer look paints a benign picture. Investors Raise Eyebrows After An Ethereum Cofounder Transfers 105,736 ETH Jeffrey Wilcke, one of Ethereum’s eight cofounders, has moved almost all of his ETH holdings to the Kraken exchange. According to on-chain data, the Ethereum cofounder transferred 105,736 ETH valued at $262 million at current prices. The movement of a sizable amount of ETH to a centralized exchange has raised eyebrows, with sell-off concerns reaching a fervent pitch. At the moment, the bearish signal has gained momentum with ETH prices tumbling by nearly 2% within minutes of Wilcke’s Kraken transfer. This is not the first time Wilcke has been whipping up bearish sentiments in the markets with… Read More at Coingape.com
Cardano price reclaims $0.70 as Hoskinson unveils AI agent rollout; on-chain data suggests highly-correlated altcoins like AVAX and LTC may rally alongside ADA.
Cardano Rallies Past $0.70 as Hoskinson Unveils AI-Powered Network Testing
Cardano price climbed 1.5% to surpass the $0.70 mark on Saturday, reversing weekly losses and building bullish momentum.
Over the past 14 days, ADA price has gained 13.3%, driven by investor optimism surrounding a new network update disclosed by Cardano founder Charles Hoskinson.
In a recent post on X, Hoskinson confirmed that Cardano is launching a testnet for its Leios protocol—an advanced initiative aimed at dramatically increasing transaction throughput.
Positioned within Cardano’s 2025 roadmap, Leios is designed to address scalability and prepare the network for post-quantum cryptographic standards.
What sets this testnet apart is the deployment of thousands of AI agents programmed to interact, trade, and simulate high-frequency network transactions
AI Integration Could Push Cardano’s Market Cap Toward $50 Billion
At the time of writing, Cardano trades just above $0.70, valuing the network at $25.5 billion. If AI integration succeeds in delivering its stated scalability goals, Cardano’s valuation could potentially double in the coming months.
Charles Hoskinson shares updates on Leois protocol initiative, May 2, 2025 | Source: X.com
First, the Leios protocol, by increasing network throughput. With faster settlement and reduced latency, Cardano becomes a more viable infrastructure layer for DeFi, gaming, and tokenized real-world assets.
Second, the use of autonomous AI agents aligns Cardano with a growing global trend. Major corporations are investing in AI-powered workflow automation, from logistics to finance. Each of these factors could potential fuel economic activty and capital inflows towards the Cardano network, potentially doubling its market cap from $25 billion to $50 billion in the coming years.
Cardano Rivals to Watch If ADA Market Cap Doubles on AI Momentum
If Cardano’s AI-driven roadmap delivers results, investors may seek exposure to similar assets showing strong correlation to ADA.
IntoTheBlock‘s Correlation Matrix chart below shows top 10 ranked altcoins and their directional movements relative to ADA price over the last 30-days.
Within this context, correlation values closer to 1.0 indicates strong positive correlation. Over the past month, the following tokens have shown high directional movement alongside Cardano.
Litecoin (LTC) shows the strongest correlation with ADA at 0.97.
Avalanche (AVAX) and Shiba Inu (SHIB) each post a 0.96 and 0.95 correlation, respectively, making them top candidates for joint rallies with ATA.
Dogecoin (DOGE) also shows a 0.95 correlation, reflecting shared interest among retail-heavy communities.
Polygon (MATIC), another high-performance layer-2 network, tracks ADA with a 0.90 coefficient, signaling mutual investor confidence in the scalability narrative.
While correlation indicates movement trends, it does not imply causality. However, these have clearly benefitted from the same investor psychology and directional capital flows that lifted ADA price over the last 30-days.
Cardano Price Forecast Today: ADA Eyes $0.76 Target if Bulls Sustain AI Optimism
Cardano price closed at $0.7110 on May 3, staging a 1.85% daily advance despite subdued trading volumes throughout the week. The ADA/USDT daily chart reflects a short-term consolidation pattern as price action remains boxed within the Keltner Channel boundaries between $0.6816 and $0.7607.
This range-bound movement, coupled with a tapering volume profile, points to indecision in the near term.
However, the latest trend still carries a stronger bullish narrative supported by the recent AI agent announcement from Charles Hoskinson, which has injected fresh speculative interest into the network’s future growth prospects.
The MACD histogram continues to trend upward above the zero line, suggesting ongoing momentum. The MACD line itself has crossed above the signal line—a classic bullish setup. However, the shallow angle and muted volume imply a lack of conviction from traders, warranting caution. Cardano price forecast today is moderately bullish in structure, supported by a successful defense of the $0.68 mid-band level.
While short-term upside could be capped at $0.76, sustained optimism around AI-driven decentralization could help ADA reclaim the March highs above $0.90.
Award-winning digital asset trading platform Toobit today announces its collaboration with world-renowned climber and sport climbing pioneer Chris Sharma, who joins as the company’s official brand ambassador. The collaboration brings together one of the most respected figures in climbing with a platform known for its precision, innovation, and ambition.
From scaling near-impossible limestone cliffs to charting new climbing routes around the world, Sharma is known for relentlessly pushing the limits of what’s possible—an ethos Toobit sees reflected in high-performance trading. His journey, built on discipline, sharp decision-making, and a deep passion for his craft, mirrors the core principles of strategic crypto trading: calculated risk, timing, and mastery built through consistency.
“When you’re 60 feet off the ground with nothing but your decisions and your preparation holding you there, there’s no room for hesitation,” Sharma said. “Climbing is about trust: trusting your gear, your team, yourself. Crypto isn’t so different. You need a solid foundation, and Toobit gets that. ”
The partnership highlights the shared mindset between elite climbing and strategic trading, where success hinges on careful preparation, bold vision, and trust in your tools. Sharma will soon feature in Toobit’s global campaigns and community initiatives, including the cryptoasset exchange’s flagship trading competition and upcoming product launches.
“We are thrilled to welcome Chris Sharma to Toobit,” said Mike Williams, Chief Communication Officer at Toobit. “His career reflects the same passion, precision, and calculated drive that we build into our platform. Whether on the rock or in the market, successful performance comes from preparation, instinct, and risk with purpose.”
This announcement follows Toobit’s continued global expansion and rollout of new features including Earn, Convert, and Gift, as well as a collaboration with NovaMeme offering decentralized finance options. Each initiative is designed to support traders of every level with the tools they need to succeed.
About Toobit
Toobit is where the future of crypto trading unfolds—an award-winning cryptocurrency derivatives exchange built for those who thrive exploring new frontiers. With deep liquidity and cutting-edge technology, Toobit empowers traders worldwide to navigate the digital asset markets with confidence. We offer a fair, secure, seamless, and transparent trading experience, ensuring every trade is an opportunity to discover what’s next.
Bitcoin (BTC) has reclaimed the $99,000 mark for the first time in over two months, igniting optimism among analysts who anticipate a price breakthrough above the $100,000 mark soon.
Notably, BTC’s performance over the past month has been quite remarkable. Its value has appreciated by 31.8%, representing a strong comeback from its Liberation Day lows in early April.
Is Bitcoin on Track to Reach $100,000?
In the early Asian trading hours, the largest cryptocurrency reached $99,388, marking its highest price since February 21, 2025. At press time, Bitcoin’s price had adjusted to $98,874. BeInCrypto data showed that the coin experienced a slight 0.3% dip in the past hour.
Yet, this increase has fueled optimism that a rise to $100,00 is inevitable. Market participants on X (formerly Twitter) have echoed the positive outlook.
“Bitcoin is knocking on the door of $100,000 again. Tick, tock…,” Anthony Pompliano wrote.
Previously, a Bitfinex forecast suggested that if Bitcoin holds above $95,000, a revisit to its all-time highs becomes likely. This prediction appears to be materializing as Bitcoin now trades above this threshold.
Furthermore, several market indicators and developments support the bullish sentiment. An analyst revealed that Bitcoin has moved past a price range where many traders were holding short positions with high leverage.
“There is no significant resistance until around $100,000,” the analyst stated.
In their weekly newsletter, Glassnode also noted that Bitcoin’s realized cap has reached a record high of $889 billion, growing by 2.1% over the past month. This increase reflects rising investor confidence and capital inflows.
The firm pointed to signs of renewed market strength, with significant capital flowing back into Bitcoin, particularly through ETFs. Over the last two weeks, more than $4.6 billion has entered Bitcoin ETFs.
“The total AUM held within the US spot ETFs has now climbed to over 1.171 million BTC, which is just 11,000 BTC shy of the 1.182 million BTC ATH,” the newsletter highlighted.
This surge in inflows has largely reversed the earlier period of outflows, further indicating strong demand for Bitcoin.
“Strong ETF inflows, alongside improved investor confidence, helps to paint a picture of stronger tailwinds supporting the Bitcoin market,” Glassnode added.
Meanwhile, CryptoQuant highlighted that over the past three days, the amount of stablecoins sent to Binance has grown substantially. The peak was on May 6, when the inflow reached nearly $1 billion, making it the largest single-day deposit since April.
“Stablecoin inflows typically reflect investor readiness to enter the market, as these assets are often sent to exchanges in anticipation of buy-side activity,” the post read.
In addition, Binance’s latest reserve disclosure showed a decline in the holdings of several major cryptocurrencies, including Bitcoin, Ethereum (ETH), BNB (BNB), and Solana (SOL). In contrast, the 2.6% increase in Tether (USDT) reserves stands out.
This uptick in stablecoin holdings suggests a rise in liquidity. This signals that traders are positioning themselves for future market transactions.
Adding to the optimism, Tether dominance (USDT.D) has experienced a downtick. A decline in USDT.D typically indicates that investors are moving funds from stablecoins into other crypto assets, further fueling the rally.
Legislative progress is another tailwind for Bitcoin. Two Bitcoin-reserve bills have been enacted, and multiple more continue to advance through the legislative process. This implies that there is increasing institutional and governmental acceptance of Bitcoin.
As Bitcoin approaches the $100,000 threshold, investors are closely monitoring whether this rally will sustain its momentum or face resistance. With market conditions aligning favorably, the crypto community remains on edge for what could be a milestone for BTC.
