As President Donald Trump’s exclusive gala dinner for top TRUMP coin holders approaches on May 22, analysis of the official winners list reveals a notable dominance of non-US investors. According to reports from CNBC and Bloomberg, the leaderboard of 220 invitees is heavily populated by wallet addresses linked to exchanges that don’t service US customers many top holders are international investors. Trump coin leaderboard shows non-US holder dominance The official TRUMP token leaderboard reveals the top 10 holders control enormous quantities of the meme coin. Many holders even use pseudonymous usernames that offer little insight into their real identities. According to the website, the top holder Sun with a VIP designation controls 1,432,003,302 TRUMP tokens. The second-largest holder, listed as “MeCo,” holds 1,391,538.19 tokens, while the sixth-ranked “Woo” possesses an even 1,000,001 tokens. Other top-10 holders include “CASE” (400,000 tokens), “GAnt” (500,034.299 tokens), and “REKT” (443,686.993 tokens). Source: Trump MEME… Read More at Coingape.com
Layer-1 (L1) coin Cardano has recorded a 10% gain over the past week, positioning itself for an extended rally.
The altcoin is now trading close to its 20-day Exponential Moving Average (EMA), a key technical level that, if breached, could validate the ongoing rally and open the door to fresh highs.
ADA Approaches Key Breakout Zone Amid Surge in Buying Pressure
ADA currently trades near its 20-day EMA and is poised to climb above it. This key moving average measures an asset’s average price over the past 20 trading days, giving more weight to recent prices.
When an asset is about to rally above its 20-day EMA, it signals a shift in short-term momentum from bearish to bullish. This crossover signals that ADA buying pressure is increasing and confirms that the asset has entered an upward trend.
ADA’s successful break above the 20-day EMA would signal renewed momentum and act as a dynamic support level for the coin’s price, giving buyers more control.
On-chain metrics further support the bullish outlook. According to Santiment, ADA’s Network Realized Profit/Loss (NPL) has turned negative, indicating that most holders are currently at a loss.
Historically, this discourages selling pressure as traders are less willing to part with their assets at a loss. This behavior encourages longer holding periods, which in turn tightens supply and can drive up ADA’s price in the short term.
Cardano Bulls in Control
On the ADA/USD one-day chart, the coin’s positive Chaikin Money Flow (CMF) reinforces this bullish outlook. At press time, this indicator, which measures how money flows into and out of an asset, is at 0.04.
A positive CMF reading like this indicates that buying pressure outweighs selling pressure. It reflects strong capital inflows into ADA, suggesting that its investors are accumulating rather than offloading their positions. ADA could extend its rally and climb to $0.70 if this trend persists.
Layer-1 (L1) coin LTC is today’s top gainer, climbing 10% in the past 24 hours. The double-digit surge comes following a regulatory setback, as the US SEC delayed its decision on Canary Capital’s application for a spot Litecoin ETF.
However, the current LTC token upward momentum may be on shaky ground as technical indicators suggest a potential bearish reversal.
On Tuesday, after the SEC called for public comments on Canary Capital’s application for a spot Litecoin ETF, LTC plunged to a two-week low of $81.03.
However, the resurgence in trading activity across the broader crypto market over the past day has helped LTC rebound from this dip. It now trades at $91.68, with daily trading volume exceeding $850 million.
But, there is a catch. Key technical and on-chain indicators suggest a potential bearish reversal in the short term, as buyer exhaustion appears on the horizon.
For example, despite LTC’s rally, its Chaikin Money Flow (CMF), which measures buying and selling pressure, has declined, forming a bearish divergence. Readings from the daily chart show that this momentum indicator is declining and poised to breach the center line.
A CMF bearish divergence occurs when the price of an asset makes higher highs while the indicator makes lower highs. This suggests that buying pressure is weakening despite rising prices. The trend indicates a potential reversal or loss of upward momentum in the LTC market.
Moreover, on-chain readings show that LTC’s Network Realized Profit/Loss (NPL) is rising, indicating that coin holders are sitting on unrealized gains and may be tempted to sell. At press time, the NPL sits at 1.7 million.
This metric reflects the net profit or loss of all coins moved on-chain, based on the price at which they were last moved. A rising NPL suggests increasing profitability across the network.
This, in combination with LTC’s weakening buy pressure as reflected by its CMF, heightens the risk of short-term selling pressure as traders look to lock in profits.
Can Litecoin Hold Its Gains?
With strengthening bearish pressure, LTC buyers risk facing exhaustion soon. If new demand fails to come into the spot markets to support the LTC token rally, it could lose its current gains and fall to $82.88.
However, a bullish shift in market sentiment could prevent this. If buying activity soars, it could drive LTC’s price to $95.13. A breach of this resistance could catapult the altcoin toward $105.04.
