The Cardano network has reached a significant milestone, surpassing 10 million native tokens. This achievement underscores Cardano's increasing adoption within the blockchain and cryptocurrency space.

Native tokens allow the transacting of multi-assets on Cardano. Cardano uniquely allows users to transact with ADA, as well as an unlimited number of user-defined (custom) tokens natively.

Native support has specific advantages for developers: There is no need to create smart contracts to handle custom tokens, for example, which eliminates an additional layer of complexity and the possibility of manual errors because the ledger manages all token-related functionality.

According to the most recent IOG weekly report, native tokens have reached 10 million with 120,576 token policies. Currently, network transactions have reached 90.8 million, while Plutus scripts are at 46,698.

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Looking ahead, the Cardano network is poised for further growth and expansion. The continued development of its smart contract capabilities and the upcoming upgrades such as the Chang network upgrade are expected to attract even more users to the platform.

ADA price action

Cardano's ADA recent price rise appears to have stalled under the pressure of its daily moving averages.

ADA began to rise gradually and reached highs of $0.51 on May 21 before running into resistance. After that, ADA decreased for four days in a row before rising again. Selling has continued, with ADA down 0.33% to $0.4611 at the time of writing, during the last 24 hours.

The 50-day and 200-day simple moving averages (SMA) have posed significant barriers to the rising trend of ADA since the beginning of April. Further conjecture over the short-term price trajectory of ADA is raised by a recent crossing that showed a death cross. The 50-day EMA serves as an immediate resistance level for ADA in the short term, which it must surpass to indicate a possible rally.

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Following the approval of Ethereum ETFs, traders, and analysts will continue to watch the indicators and market signals closely, ready to adjust their strategies in response to ADA's next significant move. The coming days and weeks will be crucial in determining the direction of ADA's price.

The upcoming launch of BlastUP in June has caught the market’s attention with its bold promise of delivering returns far surpassing established players like Cardano and XRP. With the bull run of 2024 in full swing, this emergence of a new cryptocurrency has stirred interest among investors, projecting a growth potential that could redefine the market’s current dynamics. The buzz suggests a significant impact, but the real question lies in whether it can truly achieve the anticipated return on investment.

Over $7 Million Raised: BlastUP Presale Continues, Offering Up To 1000% Potential ROI

BlastUP has been getting a lot of attention lately thanks to its high potential to become a major force in the crypto industry. This pioneering launchpad on Blast has already attracted over 15,000 active users. 

The ongoing presale of BlastUP is a huge success, more than $7 million raised so far. The BlastUP token is considered by crypto experts as a hidden crypto gem that can skyrocket 1000% by the end of this year. 

>> Buy BlastUP Tokens Now for Maximum Returns! <<

BlastUP helps crypto startups grow faster and earn more. As BlastUP forges ahead, it remains committed to creating a global hub for the Blast community. BlastUP is rapidly gaining traction for the benefit of all participants in this ecosystem.

BlastUP’s roadmap extends into 2026, promising the introduction of AI-driven tools and the Community Marketplace, further enriching the ecosystem’s capabilities.

 The BlastUP token, a cornerstone of the platform, unlocks access to tiered IDO launches, staking rewards, and exclusive loyalty benefits.

>> Join BlastUP Now or This Rocket Will Take Off Without You! <<

Cardano Market Sentiment Indicates Cautious Optimism

Cardano sits on the fence between dips and rises, with investors showing a mix of hope and hesitation. Recent trends suggest a slight tilt towards positive vibes, but the coin hasn’t yet found the energy to leap past its closer hurdles. With Cardano’s strong foundation in scientific research and a methodical approach to upgrades, enthusiasts remain watchful, ready for signs that may propel the asset past current boundaries or pull it into a lull.

XRP Navigates Mixed Market Signals Amid Recent Price Movements

The XRP token is experiencing fluctuating market interest with recent price movements revealing a tug of war between buyers and sellers. Price levels have shown modest pushes toward higher ground, only to be challenged by occasional pullbacks. The average price over the past few months has remained relatively stable, reflecting a market that is currently hesitant to commit to a definitive direction. These movements come against the backdrop of XRP’s utility in payment settlements and remittances, which typically provides underlying value support for the cryptocurrency.

Conclusion

The anticipated launch of BlastUP in June is creating a buzz for its high return potential. With projections suggesting a 5000% ROI, its outlook overshadows that of established cryptocurrencies like ADA and XRP. The lower short-term growth expectations for these coins contrast sharply with the high potential ascribed to BlastUP. This project stands out due to its innovative concept and integration within the broader Blast ecosystem, which could be reasons contributing to its predicted success. Overall, BlastUP seems poised to outperform in the dynamically evolving market, drawing attention from investors looking for significant growth opportunities.

Site: https://blastup.io/

Twitter: https://twitter.com/Blastup_io

Discord: https://discord.gg/5Kc3nDhqVW

Telegram: https://t.me/blastup_io

TLDR

Fantom pumps 36% in a week, and experts foresee more gains in May.

Cardano climbs 6% in a week, and analysts believe more growth is coming.

Rebel Satoshi’s $RBLZ continues attracting investors after launching on four exchanges. 

The crypto market has performed well over the past week as a new crypto bull run unfolds. As a result, investors have started flowing for high-potential tokens. This explains why Fantom (FTM), Cardano (ADA), and Rebel Satoshi’s $RBLZ have emerged as top picks among investors. 

Why are investors flocking to Fantom, Cardano, and $RBLZ? Read on to find out!

Fantom Surges 36% in a Week: More Gains Coming?

Fantom has performed exceptionally well over the past seven days. On May 13, FTM was changing hands at around $0.68. After two days of trading sideways, FTM gained traction on May 15. This climb came due to Fantom partnering with Entangle. This integration offered Entangle’s users multiple benefits, including access to cross-chain DeFi tools. 

Additionally, Fantom Foundation announced that its Opera Upgrade surged past 30% on May 20. This announcement saw FTM climb as high as $0.96 on May 20 before stabilizing at around $0.93. This price means FTM has surged 36.76% in a week. 

So, what’s in store for Fantom? According to experts, FTM will maintain the upward trajectory to close the month at $1.02. This forecast makes FTM a good crypto to buy. Experts base this prediction on FTM attracting more investors due to Fantom’s recent partnership with Entangle. 

Cardano Gains 6% in a Week: What’s Coming Next?

Cardano has performed decently over the past seven days. On May 13, ADA was hovering around $0.44. After trading sideways for days, ADA gained momentum on May 15 after IntoTheBlock pointed out that Cardano whales with ADA holdings ranging from 100 million to 1 billion had increased their balances by 11% over the past 30 days. 

This whale activity attracted more investors to ADA, triggering a fresh bull cycle. Specifically, ADA climbed as high as $0.49 on May 17. However, the excitement about the surge in whale activity began cooling off, and ADA began correcting downward. By May 20, ADA had stabilized at around $0.47. This price means ADA has surged 6.82% in a week.

This performance explains why investors consider ADA a top crypto to buy. Moreover, experts believe ADA will continue pumping to close the month at $0.50. Experts base this forecast on ADA getting more adoption due to the May 18 news of Mithril Explorer surpassing 5 billion in staked ADA.

Rebel Satoshi’s $RBLZ Gains Popularity After Launching on Four Exchanges!

Rebel Satoshi, a new meme coin project, has left investors in awe due to its bold mission to challenge centralized crypto entities. Additionally, this budding project has caught investor attention due to the impressive growth trajectory of its dual-token ecosystem, which features an NFT marketplace, a staking program, and an arcade. 

These features explain why investors are flocking to Rebel Satoshi to buy its $RECQ and $RBLZ tokens. $RECQ is Rebel Satoshi’s base currency, while $RBLZ is the project’s governance and membership token. As of May, $RECQ was progressing with Stage 2 of its ongoing public presale.

On the other hand, $RBLZ was available on four top exchanges as of May. These are CoinGecko, Coinstore, DEXTools, and Uniswap. Interestingly, $RBLZ surged from $0.01 to $0.025 during its presale. This surge means $RBLZ generated a 150% ROI during its presale. 

Furthermore, experts believe $RBLZ will produce more returns as users of the four exchanges it is listed on continue embracing it. This forecast explains why $RBLZ is the best crypto to buy now.

For the latest updates and more information, be sure to visit the official Rebel Satoshi Website or contact Rebel Red via Telegram

The post Fantom, Cardano, And Rebel Satoshi ($RBLZ) Emerge As Top Picks For Price Upswing This Year appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing.

Markets got a big spike in Ethereum price this week on crypto exchanges. What’s behind it and what factors can investors take into consideration to determine whether Ether or its friend Cardano is the better buy?

Ethereum has a birthday coming up on July 30. It was launched in 2015 to create a “world computer” with the same Web3 blockchain properties as Bitcoin has for storing cash and making payments.

Cardano was launched on September 23, 2017 by initial coin offering (ICO) and founded by an Ethereum co-founder, Charles Hoskinson. Today it’s the 10th largest cryptocurrency by market capitalization.

Ethereum Market Cap (May 22): $451.8 billion Cardano Market Cap (May 22): $17.2 billion

Certain differences between the two cryptocurrencies are an advantage for one or the other and a good reason to be bullish or bearish for ETH or ADA tokens.

But some of the two networks’ differences are tradeoffs that are more complex to evaluate as yielding an advantage for either crypto. Here are 7 key factors at play in the future Ethereum price against Cardano:

1. ETH vs. ADA – Technical Analysis (a tie)

Ethereum price is nearly all the way back to its ATH (all time high) after spiking this week on Ethereum spot ETF buzz. Cardano has a long way to go. That might actually be more bullish for ADA, with more upside left in its price.

The recent Ethereum ETF approval will shake up the entire meta for investing in Ether. If bulls take the price past $4,000, another 12.5% increase would pump ETH to $4,500— within striking range of the previous Ethereum ATH of $4,721 in Nov. 2021.

Forbes recently mentioned an Ethereum price prediction of $5,000 by the end of 2024. Bitcoin ETF issuer VanEck predicts $11,800 by 2030. An even more bullish outlook forecasts $10,000 ETH by the end of the year.

Over the short term, Cardano technical indicators and moving averages over the weekly span recommended “Sell” on Thursday. Meanwhile, Ethereum technical indicators for the seven-day span recommended “Strong Buy,” according to data from Investing.com.

2. Ether Spot ETF – Regulatory Analysis (bullish ETH)

There’s no denying it. Charles Hoskinson would certainly agree: U.S. regulators seem to favor Bitcoin and Ethereum over Cardano and other DeFi networks.

The SEC said okay to Ethereum futures ETFs in October, revealing it didn’t seem to think of Ether as an unregistered security. However, the U.S. regulator has classified Cardano and other cryptocurrencies as unregistered securities in lawsuits against multiple blockchain companies, while ignoring Bitcoin and Ether.

As Fortune Magazine reported on May 1, “Furthermore, despite launching a number of lawsuits against crypto companies since April 2023, the agency has never named Ether to be a security in its complaints.”

The SEC lawsuit against Ripple has taken years (since Dec. 2020) and still has not yet been resolved. It is costly and leaves the future unsure for the currencies under the government’s crosshairs.

Markets abhor uncertainty.

It may not be fair, but it’s a bullish factor for ETH and bearish for ADA.

3. ADA vs. ETH – Fundamental Analysis (a wash)

Fundamental analysis is the preferred method of investors who are not total degenerates. Instead of chart technical analysis or meme currency voodoo economics, the fundamentalist looks at an investment prospect and asks what would “The Intelligent Investor” author Benjamin Graham do if he were here?

Graham says:

“The intelligent investor is a realist who sells to optimists and buys from pessimists. In the short run, the market is a voting machine but in the long run, it is a weighing machine.”

If a business’s expected future revenues discounted to the present day exceed its current market value, then it may be a good investment. If they match or fall short of the business’s market cap, then it may be a poor investment.

ADA: $263.8 million TVL (3% annual reward rate + 121% annual growth rate) / Market Cap: $16.4 Billion ETH $64.9 Billion TVL (5.5% annual reward rate + 145% annual growth rate) / Market Cap: $453 Billion

Going by the data above without any further context, it appears Cardano would be the winner, because its inflows make up a much smaller portion of its market cap than Ethereum (0.019 to 0.22), but only if we expect it to grow at the same rate as Ethereum in the future.

The lopsided institutional adoption between the two will make that difficult for Cardano unless it finds a use case, a feature/benefit, and a narrative that shakes up the retail Internet markets for cryptocurrency.

4. Cardano vs. Ethereum – Gas Fees (cat’s game)

There are lower and more predictable fees on Cardano, but higher fees on Ethereum are also a feature, not necessarily a bug. They make it more expensive to misuse the network for cybercrime that doesn’t pay, so it’s more secure. Big institutions like that.

That’s one reason why the industry leader, Bitcoin’s slow, expensive network, with a low transaction bandwidth holds its capital so well. In many ways these built-in costs qualify participants better than Know Your Customer policies and automatically and without discriminating on any basis other than ability and willingness to pay the network’s fees.

Still for newcomers, enterpreneurs, startups, and investors starting out with a smaller cash pile, smart contract blockchain networks with lower fees like Cardano have an advantage. Transaction fees on both networks are highly variable and spike during periods of high network use.

5. Ease Of Use – Cardano (another tie)

Some people in Web3 feel Ethereum has an ease-of-use problem. It’s become too overgrown with complicated, byzantine layers on top of layers, creating a steeper learning curve and potential security threats.

Blockchain advocate Daniel Cawrey wrote in a recent opinion article on Blockworks:

“Ethereum is becoming a multilayered lasagna-like system whereby complexity and fees are pushing people to the margins, causing interoperability and security concerns.”

While true, much like Ethereum’s higher transactions fees— the complexity of Ethereum may be a reason to be bullish for ETH. It could simply be proof of the network’s success. As Cawrey acknowledges in the piece, the network is beginning to achieve its “world computer” concept.

Any computer architecture expert would be hard-pressed to explain how a Turing-complete global computer that anyone can use on a peer-to-peer network would become anything but a flying spaghetti monster of complexity.

6. Ether vs. Cardano Whales (bullish ADA)

A massive 15,000 ETH whale deposit to Kraken on May 18 spotted by Whale Alert suggested a bear run on Ether by whales could be incoming, but after the SEC approved the spot Ethereum ETF a surge in whale-sized transactions has been net positive for the network, according to IntoTheBlock data.

Meanwhile, Cardano whales have been extremely bullish for ADA in May. They boosted holdings in Cardano tokens by 11% in a month. Whales tend to be smart money with some of the most advanced analytics and market outlooks to know what they’re doing, so that’s positively bullish for Cardano.

https://x.com/intotheblock/status/1790774801277042863

7. Ethereum vs. Cardano Memes (bullish ETH)

Meme coins are a definite advantage for Ethereum. While Cardano does have meme coins, none of them are notable and they have not topped the market cap charts like Ethereum’s SHIB, PEPE, and FLOKI.

Cardano has succeeded in making a simpler, lower-fee Ethereum, but crypto markets tend to reward projects that leaven their technology with some meme karma. Maybe an Orange Pill Moon Boys NFT collection or something with a dog on it would do the trick.

The post ETH vs. ADA: Is Cardano or Ethereum a Better Investment in 2024? appeared first on CryptoPotato.

While meme coin mania takes center stage with MoonBag(MBAG) rocketing past its $250,000 presale mark and nearing Stage 3, established players like Cardano and Toncoin are facing their own set of challenges. Cardano, with its ambitious goals, has encountered roadblocks that have dampened investor confidence. Toncoin, meanwhile, navigates a volatile market marked by a potential double-top pattern and the ripple effects of another project’s struggles.

Will these titans overcome these hurdles, or will they be eclipsed by the rising stars of the meme coin universe? Let’s delve into the recent challenges plaguing Cardano and Toncoin, and assess their prospects for weathering the storm. Then decide if you want to be a part of the best crypto presale in 2024 aka MoonBag presale.

Beyond the Rhetoric: Cardano Needs Results to Match Hoskinson’s Bold Vision

Cardano has been under the spotlight recently, facing several challenges that have affected its market performance. Despite bullish factors, the ADA coin has struggled to reclaim key support levels and currently trades around $0.482. Analysts point to a lack of significant whale accumulation and declining social metrics as contributing factors. Cardano’s inability to maintain momentum in market rallies has raised concerns among investors.

Moreover, the network has faced criticism for centralization and underwhelming adoption rates compared to its competitors. This has fueled skepticism about its long-term potential. Cardano founder Charles Hoskinson’s bold statements about Bitcoin’s future have also added to the controversy, diverting focus from ADA’s performance issues.

Overall, while Cardano has promising technology and a strong community, it must overcome these hurdles to regain investor confidence and achieve sustainable growth.

Bullish Undercurrents? A Look at Toncoin’s Mixed Signals

Toncoin (TON) is facing significant challenges, with a potential 25% decline due to an emerging double-top pattern. Its price dropped by 4.47% to $6.28, continuing a week-long downward trend of -6%. Additionally, Notcoin’s 55% price drop since launch has impacted TON, reducing its trading volume by 91% and daily active addresses by 40%. Despite these issues, TON remains somewhat bullish, closing above its 20-day EMA. The overall sentiment points to a volatile yet cautiously optimistic outlook.

How MoonBag’s Presale Structure Fuels its Rise to Become Best Crypto Presale in 2024

MoonBag is quickly becoming a standout in the crypto market with its strategic approach and community-focused ethos. Approaching Stage Three of its presale, MoonBag crypto has already raised an impressive $250,000. The total supply of MoonBag coins is 96,337,500,000, with allocations including 40% for the public presale, 25% for staking with an attractive 88% APY, and 20% for liquidity locked for two years. The remaining 15% is dedicated to community incentives, referral programs, and team allocations.

MBAG coin’s innovative buyback and burn strategy ensures price stability and long-term growth. To join the MoonBag community and be a part of the Best crypto presale in 2024, follow these steps:

Use Metamask or Trust Wallet. Download and set up Metamask from Metamask.io, ensuring you safeguard your private key.

Load it with Ethereum (ETH) or your preferred cryptocurrency, either by transfer or direct purchase through Metamask.

Visit the MoonBag website during the presale to buy coinss using supported cryptocurrencies like ETH, USDT, or BNB.

After the presale, claim your MoonBag coins and enjoy your staking rewards.

Conclusion

The crypto world is a whirlwind of innovation and adaptation. MoonBag, a strategic meme coin, soars with its presale success, while established players like Cardano and Toncoin face internal battles. Can Cardano regain momentum and Toncoin navigate volatility? Only time will tell who dominates this ever-changing landscape. While Cardano and Toncoin promise a thrilling next chapter, MoonBag’s approach and market forces look like impacting their popularity. Join MoonBag’s presale and be a part of the Best crypto presale in 2024.

Invest in MoonBag Presale

Website: MoonBag.org

Presale: MoonBag Presale

Twitter: https://twitter.com/moonbag_org

Telegram: https://t.me/moonbag_official

The post New Kid on the Block vs. Old Guard: MoonBag’s Presale Challenges Cardano & Toncoin’s Dominance in the Best Crypto Presale in 2024’s Race appeared first on Blockonomi.

According to U.Today, Charles Hoskinson, the founder of Cardano, recently stated that Cardano was the first cryptocurrency to make its presence known on Mount Everest. This statement was made in response to a post suggesting that the ADA blockchain had reached the summit in 2022, following a photo shared by Michael Saylor, founder of MicroStrategy and a well-known Bitcoin advocate, showing a Bitcoin flag at the peak of the world's highest mountain. Saylor's gesture was meant to emphasize Bitcoin's global reach and dominance.

However, it was later revealed that Cardano had already achieved this milestone two years earlier. In response to the post, Hoskinson humorously highlighted Cardano's superiority over Bitcoin, especially in terms of settlement time. Settlement time in blockchain refers to the time it takes for a transaction to be confirmed and permanently recorded in the blockchain ledger. This is a crucial factor for users and businesses that depend on cryptocurrencies for quick and efficient transactions.

Cardano's blockchain structure is designed to process transactions faster and at a lower cost than Bitcoin. Despite Bitcoin's market dominance, it often faces criticism for its slower transaction speeds and higher fees, which are due to its proof-of-work consensus mechanism. On the other hand, Cardano uses a proof-of-stake mechanism, which not only shortens the time it takes to settle transactions but also reduces energy consumption.

In the volatile world of cryptocurrency, the actions of whales—individuals or entities holding large amounts of cryptocurrency—can significantly impact the market. Recently, a crypto whale with a $60,000,000 portfolio has been making headlines for aggressively buying Retik Finance (RETIK), a viral competitor to Cardano (ADA), over the last 72 hours. This aggressive acquisition has raised questions about the motivations behind this move.

What Defines a Crypto Whale?

Achieving whale status in the cryptocurrency space is subjective, as there is no universally agreed-upon threshold for what constitutes a whale. Generally, the community considers anyone holding a significant portion of a cryptocurrency circulating supply to be a whale. This substantial ownership enables whales to influence the market, often causing price volatility when they move large quantities in single transactions. Whales are known for their ability to sway market trends, sometimes causing prices to surge or plummet based on their trading activities. Their influence is a double-edged sword; while they can bring stability through substantial investments, they can also create instability through massive sell-offs. Understanding the behaviour and strategies of whales is crucial for market participants aiming to navigate the unpredictable waters of cryptocurrency trading.

Retik Finance (RETIK): The Cardano (ADA) Competitor

Retik Finance (RETIK) has recently captured significant attention within the crypto community. Launched on multiple exchanges on May 21, RETIK has quickly become a notable player in the decentralized finance (DeFi) sector. With the introduction of the Retik Swap feature, users can enjoy effortless token trading at remarkably low fees, enhancing the overall user experience. RETIK’s vision is to decentralize the banking sector, providing a comprehensive ecosystem designed to empower individuals and businesses worldwide. This ambitious goal has resonated with many investors, contributing to the token’s rapid rise in popularity and market value.

Retik Finance (RETIK) Unique Features

Retik Finance offers staking opportunities on its website, allowing users to earn passive income by holding RETIK tokens. This feature is particularly attractive to long-term investors seeking to maximize their returns. Additionally, the Retik Swap feature provides an effortless token trading experience with remarkably low fees, making it an appealing option for traders and investors alike. The combination of staking rewards and low trading fees enhances RETIK’s appeal, encouraging more investors to buy and hold the token. For whales, this presents an opportunity to accumulate a significant amount of RETIK at relatively low costs, positioning themselves for substantial future gains.

Why the Whale Is Buying RETIK

Following its launch, Retik Finance’s (RETIK) market cap soared to an all-time high of almost $3 billion within a few hours. The token’s price also experienced an unprecedented surge, reaching $3 surpassing the price of Cardano (ADA) from its initial listing price of $0.15. This 20x increase represents a 100x jump from the first stage of the presale price, signalling immense market enthusiasm and investor confidence. Top analysts have forecasted that RETIK will continue its remarkable surge, citing the token’s strong fundamentals and the growing interest in DeFi projects. This optimistic outlook has likely played a significant role in the crypto whale’s decision to invest heavily in RETIK over the past 72 hours. Retik Finance’s comprehensive ecosystem offers a range of financial services, including staking, which allows users to earn rewards by holding and supporting the network. The successful launch and immediate market cap surge indicate strong investor interest and confidence in RETIK’s future. As more users adopt the platform and utilize its features, the token’s value is expected to rise, offering substantial returns for early investors.

Conclusion

The recent actions of the crypto whale with a $60 million portfolio highlight the growing interest and confidence in Retik Finance (RETIK). With its ambitious vision to decentralize the banking sector, comprehensive ecosystem, and strong market performance, RETIK has quickly emerged as a formidable competitor to established cryptocurrencies like Cardano (ADA). The whale’s aggressive buying spree over the last 72 hours underscores the token’s potential for significant growth and high returns. As Retik Finance (RETIK) continues to gain traction and attract more users, its market value is expected to rise, offering substantial rewards for early investors. 

Visit the links below for more information about Retik Finance (RETIK):

Website: https://retik.com

Whitepaper: https://retik.com/retik-whitepaper.pdf

Twitter: www.twitter.com/retikfinance

Telegram: www.t.me/retikfinance

The post Crypto Whale with $60,000,000 Portfolio Has Been Aggressively Buying Viral Cardano (ADA) Competitor Over the Last 72 Hours—What’s Behind the Move? appeared first on Crypto News Land.

Historical correlation between ADA's price and profit/loss ratio points to a potential bullish reversal.

Solana lost around 10% of its value in an unexpected manner. The asset that looked well-positioned for the rally after the preliminary approval of the Ethereum ETF is currently looking weaker than the rest of the market, and it's not clear if it's going to recover properly.

Examining the chart, Solana experienced a sharp decline, dropping from around $176 to $164. This significant drop has brought SOL down to test its support level at $160, which has previously acted as a strong support area. If this level fails to hold, the next major support lies at $150, corresponding with the 200-day moving average (orange line).

SOL/USDT Chart by TradingView

On the resistance side, Solana faces immediate resistance at $176, a level it struggled to maintain before the recent drop. Above this, the next key resistance is around $190, where the 50-day moving average (blue line) currently resides. Breaking through these levels would be necessary for any substantial recovery.

Several factors could be contributing to Solana's decline. First, market sentiment following the Ethereum ETF approval has been mixed, with some assets benefiting while others like Solana suffer. Additionally, technical factors such as failing to maintain key resistance levels might have triggered stop-loss orders, accelerating the sell-off.

For traders and investors, the $160 support level is critical. If Solana can maintain this level, it may consolidate and attempt another upward move. However, if it breaks below $160, the next significant level to watch would be $150. This could indicate further downside potential, and investors might need to brace for more volatility.

Ethereum stays composed

The expected kick in price that many attributed to Ethereum's ETF effect turned out to be a fiasco. There are quite a number of factors that could be responsible for bringing out such poor price performance, although, for the time being, the more important question remains: could there be price growth ahead, rather than talks about the failed rally?

Ethereum, until this point in time, had not been able to really breach key resistance levels, even after ETF approval. Critical reasons behind this are the kind of approval — it was not the full-blown S-1 type — and, hence, the doors for further regulatory issues are still open. 

card

Besides, the Division of Trading and Markets gave this consent under delegated authority, which is subject to challenge over the next 10 days. All this amounts to some additional uncertainty that adds to the overall position of the markets. 

But it is not all bad over the long term. The plain fact that any acceptance of an Ethereum ETF, even partial, sets a precedent in this space and sets off further potential and larger instances of crypto adoption. 

Cardano's weird position

Cardano is not the most noted asset in the market, does not bring much volatility and, therefore, did not form very noticeable moves in previous weeks. However, we can see some potential here because ADA is approaching a major support, which can afterwards serve as a base for a reverse.

card

At this point, the chart is showing Cardano establishing a new level of support around $0.45. This level has been tested several times and has held up under the pressure of the downside, perhaps pointing to some real interest in that price. The volume spike on this new movement definitely strengthens the case for this to be an important level for the price. If ADA can hold onto this level, it might serve as a nice base upon which to initiate an upward move.

On a daily chart, ADA has its immediate resistance located at $0.50. This is a price level at which the ticker has seen rejections in the onward price action for the last couple of days. One critical thing to note is that once breached, the current fanatical rally could see a target at $0.55, exactly where the 200-day moving average lies.

In an homage to the beloved Shiba Inu Kabosu, who recently passed away, Cardano founder Charles Hoskinson has posted a memetic statement that resonates deeply within the crypto community.

In a tweet, Hoskinson posted a GIF image that captioned "I have been and will always be your friend," to which he wrote, "Doge to Bitcoin." The Cardano founder was responding to a post on the passing of Kabosu.

Doge to Bitcoin https://t.co/Lgc3PuE7Vt pic.twitter.com/xQf6HigpZZ

— Charles Hoskinson (@IOHK_Charles) May 24, 2024

Kabosu, the face of Dogecoin and the iconic "Doge" meme, left a paw print on the hearts of many. Her passing has been felt across the internet, uniting diverse communities in remembrance of the joy she brought to the world.

The Japanese Shiba Inu inspired a generation of online jokes after her skeptical glance became a symbol of internet humor in 2010. The recent comment by the Cardano founder not only pays tribute to Kabosu's legacy but also highlights the camaraderie that exists within the crypto space.

The Cardano founder's memetic statement would be essentially true considering the relationship between Dogecoin and Bitcoin.

In 2013, two software programmers, Jackson Palmer and Billy Markus, were inspired by the simplicity of Bitcoin to create Dogecoin, a parody cryptocurrency.

card

Given that DOGE was originally a joke copy of Bitcoin, and used a significant portion of Bitcoin's source code, the two cryptocurrencies share a lot in common.

For example, both Bitcoin and Dogecoin use a proof-of-work (PoW) consensus mechanism involving miners. Transactions on a proof-of-work blockchain are stored in blocks. Once a block is full, a group of devoted users regarded as miners start to validate it.

However, several changes have been implemented throughout time, causing Dogecoin and Bitcoin to differ more than they might appear at first.

Solana has emerged as both a shining star and a cautionary tale. Its recent rollercoaster ride through the market has left investors on the edge of their seats, with unexpected plunges followed by whispers of potential rebounds. But what lies behind Solana’s tumultuous journey, and what does it mean for the wider crypto community?&middot

For the full story, head over to TheCurrencyAnalytics.com.

According to U.Today, Charles Hoskinson, the founder of Cardano, recently stated that Cardano was the first cryptocurrency to make its presence known on Mount Everest. This statement was made in response to a post suggesting that the ADA blockchain had reached the summit in 2022, following a photo shared by Michael Saylor, founder of MicroStrategy and a well-known Bitcoin advocate, showing a Bitcoin flag at the peak of the world's highest mountain. Saylor's gesture was meant to emphasize Bitcoin's global reach and dominance. However, it was later revealed that Cardano had already achieved this milestone two years earlier. In response to the post, Hoskinson humorously highlighted Cardano's superiority over Bitcoin, especially in terms of settlement time. Settlement time in blockchain refers to the time it takes for a transaction to be confirmed and permanently recorded in the blockchain ledger. This is a crucial factor for users and businesses that depend on cryptocurrencies for quick and efficient transactions. Cardano's blockchain structure is designed to process transactions faster and at a lower cost than Bitcoin. Despite Bitcoin's market dominance, it often faces criticism for its slower transaction speeds and higher fees, which are due to its proof-of-work consensus mechanism. On the other hand, Cardano uses a proof-of-stake mechanism, which not only shortens the time it takes to settle transactions but also reduces energy consumption.

The development firm behind Cardano, casts doubt on the long-term sustainability of Bitcoin (BTC), the flagship cryptocurrency. Hoskinson’s remarks, made in a recent widely-discussed interview, challenge the notion that Bitcoin can thrive independently of the broader crypto ecosystem, sparking debate within the cryptocurrency community.

Bitcoin’s Interdependence with the Crypto Ecosystem

Expressing his concerns about Bitcoin’s future, Hoskinson emphasizes the integral role of the crypto industry in sustaining the world’s largest cryptocurrency.&middot

For the full story, head over to TheCurrencyAnalytics.com.

Over the past few years, Cardano (ADA) has emerged as one of the most talked about crypto assets that has attracted considerable attention after showing glimpses of becoming a rewarding investment in past bull seasons.
During the 2021 bull season, ADA displayed its massive potential for expansion when it skyrocketed to attain a $3.09 price all-time high (ATH). While the present market outlook has not been favorable for most crypto prospects, hope still abounds for a potential positive turnaround in ADA’s price actions.
Consequently, Cardano holders are still hopeful about earning massive rewards once the market swings in a bullish trajectory. However, the extent to which ADA would appreciate remains unknown as it can only be speculated based on various price predictions. At press time, ADA is trading at relatively $0.48
Becoming A Millionaire If ADA Hits $5
At the current price, 200,000 ADA is needed to become a millionaire.
Accumulating 200,000 ADA at $0.5 would require an investment capital of about $100,000, implying that profits would amount to $900,000 once ADA ascends to $5.
Ascending To A Millionaire Status If ADA Hits $50
While a $50 price target might sound quite ridiculous, it is not far-fetched, considering that the crypto market could be dynamic with the least anticipated price actions.
Amassing $1 million if ADA hits $50 would require 20,000 tokens worth approximately $10,000 at ADA’s current selling price and representing profits of around $990,000.
Possibilities Of ADA Hitting Either $5 Or $50 – Market Experts’ Insights
In an old news publication, Javon Marks, a crypto analyst and strategist, predicted a two-part upward trajectory for ADA. In the first phase, the analyst projected a 462% surge that would skyrocket ADA’s price towards the $2.7 price mark.
For the second part of the upward trajectory, Javon predicted a 1,500% surge that would propel the digital asset toward a $7.8 price target.
Meanwhile, Changelly andTelegaon have projected potential timelines for ADA to hit $50. Changelly stated that the digital asset would hit the lofty price target around 2040. On the other hand, Telegaon gave a further timeline around 2050.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Cardano #ADA

Even though Optimism (OP) and Cardano (ADA) are struggling against market volatility, investors remain optimistic about better days ahead. Meanwhile, Algotech (ALGT) price forecasts expect a 50x rise as its public presale continues.

Delve into OP, ADA, and ALGT.

Optimism (OP) Investors Hopeful For A Price Surge

Optimism (OP) has been trading rangebound for most of Q2 as market weakness hindered its price growth. Optimism crypto prices oscillated between $2.11 and $2.90 between April and May.

However, Optimism (OP) holders remain optimistic the token will overcome the hurdles and soar. In the meantime, there has been rising market activity, shown by increasing traded volume numbers, as buyers accumulate Optimism crypto.

Rising whale activity in Optimism crypto indicates a bullish market sentiment. Optimism (OP) investors rely on the whale demand to push Optimism (OP) past its current resistance level to start a breakout rally. Price predictions make Optimism (OP) one of the altcoins to watch, with forecasts suggesting that it may reach $4 by the end of the year if it gets out of the range.

 

Cardano (ADA) Turnaround Imminent As Downtrend Stops

Cardano (ADA) recently stopped a prolonged price drop, encouraging investors to keep buying. As a result, Cardano’s (ADA) price gained from $0.44 to $0.50 in May. Following the price surge, demand was notable as Cardano (ADA) traded volume rose, enhancing Cardano price prediction.

As the broader crypto market appears to recover, Cardano price prediction shows it may continue to rise. With Cardano (ADA) trading above its 100-day SMA, ADA holders maintain a positive outlook on the future of Cardano (ADA) as they await a stronger bullish momentum.

Based on Cardano’s (ADA) trajectory, experts suggest a bullish market sentiment. Moreover, bullish Cardano price prediction forecasts show it may reach $0.8 by the end of the year.

 

Investors Flock To Algotech (ALGT) After 50x Price Surge Prediction

Algotech (ALGT) gained new presale buyers, with expert predictions indicating a possibility that the presale token price could deliver a 50x price surge. Algotech (ALGT) is a modern algorithmic trading application leveraging advanced technology such as cloud computing and machine learning to simplify trading cryptocurrencies.

Algotech (ALGT) harnessed its private sale success to attract buyers in its public presale. Raising $1.1 million in the private sale bolstered Algotech’s (ALGT) profile in the crypto market and made its presale successful even before it launched on major exchanges.

When the public presale started, crypto enthusiasts jumped at the opportunity to participate in a cryptocurrency ICO that introduced a promising asset. Algotech (ALGT) promised presale buyers a 275% ROI, ownership, voting rights, and dividends. So far, Algotech (ALGT) has delivered a 100% price increase from $0.04 to $0.08, pleasing early investors and attracting new ones.

Algotech’s (ALGT) multi-stage presale is in Stage 3 and ends in Stage 4. With this in mind, investors who aim for an 87.5% gain when Algotech (ALGT) reaches its DEX launch price of $0.15 continue to buy.

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The post Optimism And Cardano Investors Expect Continuous Upward Movement; Expert Surprises Investors With 50x Algotech Predictions appeared first on BitcoinWorld.