$ADA surged to 0.26, and the previous high of 0.2887 is a hard ceiling.
The founders, IOG, Emurgo, and the foundation hold 5.18 billion tokens acquired at zero cost, accounting for 14% of the circulating supply. The on-chain treasury still holds another 1.47 billion. 67% of the tokens are highly concentrated in the hands of whales.
TVL in the ecosystem’s DeFi sector has plunged 80%. There’s absolutely no fundamental support; the price is being pumped just to distribute tokens.
Above 0.26, just short it. It’s only a matter of time before it falls below 0.23.
$ADA
The founders, IOG, Emurgo, and the foundation hold 5.18 billion tokens acquired at zero cost, accounting for 14% of the circulating supply. The on-chain treasury still holds another 1.47 billion. 67% of the tokens are highly concentrated in the hands of whales.
TVL in the ecosystem’s DeFi sector has plunged 80%. There’s absolutely no fundamental support; the price is being pumped just to distribute tokens.
Above 0.26, just short it. It’s only a matter of time before it falls below 0.23.
$ADA