Ripple Whale Moves $58M To Coinbase, Selloff Incoming?

Cardano has faced a series of setbacks recently, with its price failing to break through key resistance levels and subsequently experiencing a decline. 

These struggles have left traders and investors feeling uncertain and bearish. The combination of weak inflows and skepticism among traders has stalled Cardano’s recovery.

Cardano Needs To Find Strength

For the past week, Cardano’s funding rate has fluctuated between positive and negative values, reflecting the unstable sentiment in the market. This fluctuation indicates that traders are attempting to capitalize on the price decline by placing short contracts. At the time of writing, short contracts dominate long positions, signaling that traders remain cautious and expect further declines.

This bearish sentiment is reinforced by the fact that short positions are outpacing long positions. As a result, the market is under heavy downward pressure, and there is little indication that a strong recovery is imminent unless there is a significant shift in trader behavior.

Cardano’s macro momentum is also impacted by a lack of investor support, as shown by the Chaikin Money Flow (CMF) indicator. The CMF has been stuck below the zero line for the past three weeks, indicating that money is flowing out of Cardano, not into it. This suggests that investor confidence is low, which is a major barrier to price growth.

Although the CMF recently showed a slight uptick, the broader trend of negative netflows remains intact. The lack of sustained inflows signals that investor sentiment has weakened, making it challenging for Cardano to break free from its current bearish trend.

ADA Price Is Attempting to Recover Losses

Cardano’s price currently sits at $0.68, just under the crucial resistance level of $0.70. The altcoin appears to be on track for consolidation between $0.77 and $0.70. However, this consolidation could signal a lack of upward momentum and indicate a prolonged period of stability.

If ADA’s bearish sentiment persists, Cardano’s price could struggle to break the $0.70 barrier and instead slide further toward $0.62. This would mark a further decline and signal that the current price action is unlikely to result in a recovery without substantial shifts in market conditions or investor sentiment.

On the other hand, if investors begin to see the current price as an opportunity, Cardano could breach $0.70 and potentially rise beyond $0.77, towards $0.85. This would invalidate the bearish outlook, opening the door for a more significant price rally. However, without a notable increase in support, Cardano’s price is likely to remain under pressure.

The post Cardano (ADA) Price Recovery Blocked by Weak Inflows and Skepticism appeared first on BeInCrypto.

Alpaca Finance, a decentralized finance (DeFi) lending protocol on the BNB Chain and Fantom, has announced the gradual closure of its platform and all associated products. 

The decision, revealed on May 26, comes after what the team described as “extensive internal deliberation and evaluation of future development directions.” 

Alpaca Finance Announces Shutdown 

Launched with no pre-sale, venture capital funding, or pre-mine, Alpaca Finance allowed users to open leveraged positions by borrowing from deposit vaults. However, the protocol has faced mounting challenges recently, culminating in this closure announcement.

In an official statement on their Medium blog and their X (formerly Twitter) account, the team cited ongoing financial difficulties as the primary reason for the shutdown. 

“In truth, the team has been operating at a loss for over two years, even after significant downsizing of the team. Continuing under these conditions is simply not sustainable,” the blog read.

DefiLama data showed that Alpaca Finance’s Total Value Locked (TVL) reached a record high of over $900 million in early 2022. However, since then, it has faced a continued decline. As of the latest data, the TVL stood at just $54.6 million.

“With TVL and yields declining, revenue followed suit,” the team added.

The team also cited increased competition and market saturation as key drivers behind its decision. Notably, the announcement comes about a month after Binance announced the delisting of the platform’s native token, ALPACA. 

“The recent delisting of ALPACA from Binance was another major blow. It not only limits token accessibility but also restricts our ability to deploy our remaining warchest effectively toward any new initiatives,” Alpaca Finance shared.

Despite the delisting, the token’s value surged over 1,000% in the days following it, defying typical market behavior. ALPACA’s dramatic rally drew widespread attention and sparked concerns over market manipulation. 

Nonetheless, the gains were fleeting, and the latest news has pushed the price down further. BeInCrypto data showed that ALPACA’s price has depreciated by 32.1% over the past day. At the time of writing, the token’s trading price was $0.11.

Alpaca Finance has detailed a structured shutdown plan across all major product lines to ensure a smooth and secure exit for users. The platform will stop accepting new positions on the original leveraged yield farming platform (AF1.0) in early June. It will also automatically close all remaining positions by June 30, 2025.

The team has put Alperp, the perpetual trading product, into reduce-only mode. It will be shut down completely by the end of June.

Furthermore, they have halted all Automated Vaults immediately, converting any remaining funds into base tokens and returning them to users. Borrowing in the AF2.0 Money Market will be disabled, and open positions will close automatically by July 30, 2025.

The protocol will also end its buyback and burn program and distribute revenue to Governance Vault stakers. Lastly, the platform’s interface will remain available for users to withdraw assets until December 31, 2025.

The post ALPACA Token Falls Over 30% Following Alpaca Finance’s Shutdown Announcement appeared first on BeInCrypto.