$ADA This chart is really interesting, so I have to pull it out and say a few words about it.
The price is 0.2724, up 11% in 7 days. What got it trending was the CIP-113 proposal—which, simply put, could mean that under a new token standard, restricting one asset might also lock up unrelated tokens. That’s technically bad news, so in theory the price should have dropped. Instead, it rose.
That’s unusual. Maybe the bad news is already priced in, or maybe someone is using the buzz to create hype and push the price up. It’s halfway up its 7-day range, with a modest rise but a higher base. I don’t think this looks like distribution; it looks more like a change of hands.
My take: to confirm the move, we need to see whether it can break above the previous high on strong volume. Only then will this rally count. At this level, I’m holding steady—not chasing the price, but not rushing to sell either. $ADA
The price is 0.2724, up 11% in 7 days. What got it trending was the CIP-113 proposal—which, simply put, could mean that under a new token standard, restricting one asset might also lock up unrelated tokens. That’s technically bad news, so in theory the price should have dropped. Instead, it rose.
That’s unusual. Maybe the bad news is already priced in, or maybe someone is using the buzz to create hype and push the price up. It’s halfway up its 7-day range, with a modest rise but a higher base. I don’t think this looks like distribution; it looks more like a change of hands.
My take: to confirm the move, we need to see whether it can break above the previous high on strong volume. Only then will this rally count. At this level, I’m holding steady—not chasing the price, but not rushing to sell either. $ADA
