Nvidia Says No to Crypto —Arbitrum Deal Scrapped Without Warning!

The Mantra team has addressed the crypto community following the Mantra (OM) token price crash of over 80% in the last 24 hours. Despite the statement, the community is still concerned that this might have been a rug pull by the team, which controls a huge amount of the token’s total supply.

Mantra Team Responds Following Token Crash

In an X post, the Mantra team assured the community that the token is “fundamentally strong” despite the crash that occurred in the last 24 hours. The team blamed the crash on “reckless liquidations” and denied it had anything to do with the project.

They further assured that this had nothing to do with the team and revealed that they were looking into the Mantra price crash and would share more details about what happened as soon as possible.

In an X post, the project’s co-founder, John Patrick Mullin, further revealed that there was a massive forced liquidation from a large OM investor on a Centralized Exchange (CEX). However, he didn’t reveal whether it was one of the top crypto exchanges.

In another X post, Mullin tried to set the record straight. He stated that they didn’t delete the Telegram channel. He further remarked that the team’s tokens all remain in custody and provided a wallet address (mantra…..quam) for community members to verify this claim.

The Mantra co-founder added that they are actively figuring out why these massive forced liquidations occurred and will provide more information as soon as possible. He assured that they are still here and not going anywhere.

Mantra Price Crashes By Over 80% In 24 Hours

CoinMarketCap data shows that the Mantra price has crashed by over 80% in the last 24 hours. The token sharply dropped from an intra-day high of $6.3 to as low as $0.4. However, it has reclaimed the $1 price level following the team’s statement.

However, amid this statement, some community members still seem convinced that this was a rug pull, as the team controls a huge amount of the token’s supply. Crypto commentator Sjuul described the OM token as the LUNA of this cycle.

He further explained why the community believes the crash was a rug pull, stating that the crash began when a wallet believed to be connected to the team suddenly deposited 3.9 million OM tokens to the OKX crypto exchange. This deposit led to significant selling pressure, which caused the Mantra price to crash.

Besides the token’s crash, the broader crypto market is witnessing a downtrend following US President Donald Trump’s statement in which he debunked reports of an exemption. This comes just a day after the crypto market rebounded following reports that the US president had exempted computers, phones, and chips from his tariffs on China and other countries.

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Ethereum price is facing selling pressure as major wallet holders are seen selling at a loss. ETH is facing selling pressure that has left many wondering whether ETH would return to the $1,500 mark in the foreseeable future.

Whale Movement Implies Uncoordinated Market Positioning

Latest blockchain data indicates that long-term holders are giving up even after they had held positions in earlier market cycles. Selling is happening when Ethereum is holding in the area of $1,550 to $1,700. This has given contradictory signals to analysts and traders who are divided on short-term price movement.

Blockchain monitoring firm Lookonchain has shown a huge capitulation by a single Ethereum investor who sold off 1,160 ETH at a huge loss recently for about $1.83 million.

According to their data, this investor had withdrawn the same amount from cryptocurrency exchange OKX about 11 months ago when Ethereum price was at $3,816. By selling at $1,580, the investor realized a 58.6% loss totaling $2.6 million.

However, not all large holders are exiting positions. CryptoGoos analyst stated that other large investors have recently purchased approximately 77,000 ETH valued at $125 million. This indicates high interest in purchasing at present ETH prices. This unusual behavior by large holders creates uncertainty in the market situation.

BREAKING:

WHALES JUST BOUGHT 77,000 $ETH WORTH $125 MILLION

SEND IT TO $10,000 ALREADY pic.twitter.com/ZZzEs9lKOl

— CryptoGoos (@crypto_goos) April 16, 2025

IncomeSharks highlighted the significance of profit-taking on rallies in price instead of accumulating every dip. He clarified that summing up continually doesn’t necessarily pay as a strategy. The analyst admitted to failing to take profits from their own ETH holdings and warned against taking cryptocurrency trades emotionally.

Technical Analysis Offers Both Possibilities For Ethereum Price

Analysts do not agree on the current Ethereum price action and the future trajectory. Analyst CrypNuevo pointed towards the $1,700 to $1,550 price level, stating that it looks like past price action. The analyst is bullish since Bitcoin is holding its 1-week 50 EMA support level for a bull run. He stated that this may be bullish for Ethereum. Because of this analysis, CrypNuevo mentioned that he executed significant spot purchases in this price zone.

$ETH

This consolidation between $1700 and $1550 is looking familiar.

Given the context – Bitcoin holding the 1W50EMA bull market support, and BTC.D not having topped in this cycle yet- we’ll likely see a similar outcome.

I’m executing my biggest spot buys here, in this range. pic.twitter.com/vh7jDhhN3I

— CrypNuevo (@CrypNuevo) April 16, 2025

Analyst Belle is more optimistic. She believes that Ethereum price is preparing for a huge transformation while others are focusing on other things. The analyst pointed to robust weekly trends, solid support levels, and growing momentum as indicators that are positive for ETH.

Crypto Rover analyst has indicated that there are strong possibilities of a bullish cross in Ethereum technical indicators. One analyst even predicted the most hated rally for Ethereum price as its market share slips.

The post Ethereum Price Faces Selling Pressure from Whales; Will ETH Dip Below $1.5K Again? appeared first on CoinGape.

Cardano price is eyeing massive gains after Coinbase Derivatives announced it will launch ADA futures on March 31, boosting institutional interest and market liquidity. ADA price could now be on the verge of a massive upswing, with analysts predicting a 15% rally. However, there are also concerns that the listing may mark a local price top. Will this Coinbase listing drive sustained growth for Cardano price or trigger a sell-the-news event? Let’s explore. 

Cardano Price in Focus as Coinbase Files for ADA Futures 

Coinbase Derivatives is expanding its crypto offerings with ADA futures. The exchange has filed with the Commodity Futures Trading Commission (CFTC) for this product. If it launches, it will boost liquidity and institutional interest in Cardano and potentially fuel gains. 

The Cardano futures will enable traders to gain exposure to ADA without holding the underlying asset. This offering will allow investors to use leveraged trading strategies. If the product is approved, it will launch on March 31. 

Futures listings have often spiked price volatility, and traders are now speculating about the impact that the launch will have on ADA price, which has been recording choppy price moves. At press time, Cardano trades at $0.74 with a 4.8% gain in 24 hours as the crypto market today rebounds. 

Will the Coinbase Listing Mark a Local Top for ADA? 

The upcoming launch of ADA futures could break Cardano from consolidation if it leads to a spike in social volumes. Historically, exchange listings drive speculative discussions that in turn result in high trading activity. 

Data from Santiment shows that Cardano social volumes peaked earlier this month after President Trump endorsed ADA as one of the US altcoins that will be part of the US digital asset stockpile. This saw the price hit a local top of around $1.12 before a sharp reversal. 

The recent Coinbase listing has yet to cause a surge in social volumes. This indicates that Cardano price still has room for growth before reaching another local top. However, this listing could end up being a sell-the-news event that will lead to a bearish reversal. 

Cardano Price Gears for a 15% Rally 

Analysts have shared a bullish Cardano price prediction after it bounced by nearly 5% to an intra-day high of $0.75 following the news of the Coinbase listing. Popular analyst Ali Charts forecasts that the altcoin could be on the verge of a 15% upswing after forming a symmetrical triangle pattern. 

If ADA price breaks out of the upper resistance trendline, it could pave the way for the altcoin to reclaim $1 as traders buy into the rally that will be realized with the Coinbase listing later this month. 

Data from Coinglass also shows an uptick in activity in the derivatives market. The Cardano open interest has increased slightly in the last 4 days to $770M. If this rise in OI continues, it could add more fuel to the ADA price rally. 

The post Will Coinbase Listing Mark Cardano Price Top or Trigger 15% Rally? appeared first on CoinGape.