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Tag: cardano

  • Investment Firm CEO Drops Utility Bomb On XRP, Is Community Hype A Detriment?

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    Comments from Galaxy Digital’s leadership have looked into what ultimately sustains value in the crypto market. In a recent YouTube discussion centered on 2026 expectations for Bitcoin, crypto, and artificial intelligence, Galaxy Digital CEO Mike Novogratz and Head of Research Alex Thorn singled out XRP and Cardano, questioning whether even the strongest communities can survive if real usage fails to expand when users have a vast number of alternatives to choose from.

    Galaxy Digital Leadership Raises Questions About Community Versus Utility

    During the YouTube discussion, Mike Novogratz presented the utility debate through the lens of capital allocation. He explained that the real question is what an investor chooses when presented with many viable options. If capital can flow into something like SpaceX, then crypto assets must compete on similar grounds.

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    He acknowledged that XRP and Cardano both have deeply committed communities, but questioned whether that loyalty can be sustained if users do not see any real utility with those ecosystems. “Can Ripple hold it together? Can Cardano hold it together?” Novogratz said.

    In drawing comparisons, Novogratz referenced Charles Hoskinson, noting his success in maintaining Cardano’s community over time despite it being a “blockchain that people don’t really use a lot.” He made similar observations about XRP’s following, which has a strong community. However, he posed a direct question about sustainability: “Can you keep it together when there are more and more options?”

    Recent crypto market dynamics have caused capital flows to become more selective. Developers and teams behind blockchain ecosystems all know this, and this is why there has been a race to demonstrate usage, revenue models, or clear value flows tied directly to their tokens. According to Novogratz, that doesn’t happen overnight. It’s probably a year-long process, not a one to three-month process.

    Cardano And XRP Proving Real-World Relevance

    The questions raised during the Galaxy Digital discussion arrive at a time when both Cardano and XRP are actively trying to strengthen their utility narratives. Recent events have seen Cardano attempting to reinforce its practical relevance through initiatives like the Midnight sidechain. Midnight is a privacy-focused Cardano sidechain network designed to support confidential smart contracts and selective data disclosure. 

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    Midnight is intended as a way to attract enterprise and institutional use cases that require compliance-friendly privacy, an area where public blockchains have traditionally struggled.

    XRP, on the other hand, is taking a different path through Ripple’s hard work to increase the utility of the XRP Ledger. Ripple has been expanding utility around Ripple USD (RLUSD), its US dollar-backed stablecoin, including broader deployment across multiple Layer-2 networks. 

    Ripple has also been on a partnership spree this year in moves to strengthen the utility of the XRP ecosystem, with about $4 billion spent on major acquisitions in 2025. The company also recently partnered with Doppler Finance to explore collaboration in XRP-based yield infrastructure and real-world asset (RWA) tokenization on the XRP Ledger, which is another added utility.

    XRP trading at $1.87 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Pxfuel, chart from Tradingview.com

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    Scott Matherson

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  • Cardano Targets $10.40 As ‘2020 Blastoff’ Pattern Returns, Analyst Says

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    Cardano (ADA) is getting the “2020 blastoff” treatment again — at least if you ask Quantum Ascend, a technical analyst on X who says the chart is starting to rhyme with the setup that preceded ADA’s last major run.

    In a Dec. 13 video shared on X, Quantum Ascend (@quantum_ascend) told followers he’s been working through a longer-term weekly count and thinks the market may be grinding toward the end of a drawn-out corrective structure. The punchline: a “conservative” target zone around $4.88–$5.50, and a “primary” bull-run target of $10.40.

    “Cardano Mirroring 2020 Blastoff Moment,” his post read, before laying out the two tiers: “Conservative: $4.88-$5.50” and “Primary: $10.40.”

    The Framework Behind The Cardano Price Prediction

    The framework he’s leaning on isn’t a clean five-wave impulse, he said. Instead, he framed it as something slower and messier — “more of like a large time-based macro correction here on the D-wave,” he said, describing what he believes is a triangle structure developing on the weekly chart.

    Cardano price analysis | Source: X @quantum_ascend

    “We’re creating a triangle structure,” he said. “So I am going to be looking for the E-wave. That’s what ends up coming next.”

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    A big part of the argument is confluence. Quantum Ascend walked through multiple measurements and trendlines, pointing to price zones where different tools cluster. One reference point was a prior A-to-B drawdown range that, in his view, still hasn’t been fully “closed out,” with a key level “up there at the $5.50 mark.”

    Then he zoomed out to the bigger structure, highlighting how an upper trendline from a C-to-D drawdown “converges with the 3.618 [Fibonacci extension] up here,” which he suggested adds weight to the $10 area. “So some confluence for that $10 area,” he said, pointing at the chart level he called out around $10.62.

    He also reached for a relative-performance comparison — not to Ethereum itself, but to Ethereum Classic.
    “I have another video from the past that compares Ethereum Classic to ADA,” he said. “And if it ends up doing a similar move to Ethereum Classic, that also puts us up into the $10 range.”

    Still, the near-term “safe” target he kept circling back to was the $5 region. After walking through a more recent drawdown “going back to the top of the Trump pump to where we’re at now,” he said a “full extension gets us pretty close… around $4.88,” adding that the $5 zone shows “a lot of different signs of confluence.”

    “For me, I’m going to say my conservative estimate for ADA is going to be that $5 range,” he said. Then he went straight to the headline number: “I think ADA gets up there around 10 bucks during this bull run.”

    To make the comparison feel less abstract, Quantum Ascend argued the current chop looks structurally similar to a prior period before ADA’s last breakout — a fractal-style read. “You guys notice the similarities here?” he asked, describing how both moves get “stopped out a little bit above the 0.5,” roll over, then revisit the lower trendline before pushing back to the top of the range.

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    And then he widened the lens beyond Cardano, tossing in a fairly aggressive macro view that sits underneath the bullish alt targets. “I honestly, guys, across the board right now, I believe that these corrections are coming to an end,” he said. “I think we have a blow off top in stock markets, in crypto and all of that coming.”

    But he also stressed he’s not married to a long-duration “supercycle” narrative. “I am not a long-term bull,” he said. “I am not [predicting a] Bitcoin super cycle to $400K.” His current bitcoin top, he added, is $155,000 — and he expects alts to “severely outperform” in the final leg before “it’s all over.”

    On the math side, Quantum Ascend framed $10.40 as big, but not absurd in a market that has already produced outsized multiples. “If we were to get that 1040, 25X, right?” he said, comparing it to prior cycles where ADA saw moves he pegged at “168X” and “75X.”

    “So we’re just talking about a 25er,” he added. “Not that crazy when you put it into perspective.”

    At press time, ADA traded at $0.4022.

    Cardano price chart
    ADA trades below key resistance, 1-week chart | Source: ADAUSDT on TradingView.com

    Featured image created with DALL.E, chart from TradingView.com

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    Jake Simmons

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  • Cardano Holder Loses 87% of $6.9M in Botched USDA Swap

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    A dormant Cardano whale tried swapping 14.4M ADA into USDA and walked away with just 847K USDA, burning roughly $6.2M in one click.

    A long-dormant Cardano (ADA) whale has torched more than $6 million in a single swap after attempting to move 14.4 million ADA, worth around $7 million, into USDA, a Cardano-native stablecoin, in a low-liquidity pool.

    The trade left the wallet with just 847,000 USDA, an estimated 87% loss, and reopened tough questions about Cardano’s DeFi readiness.

    The Costly Transaction

    According to on-chain investigator ZachXBT, the whale wallet had been dormant for roughly five years before executing the swap, which temporarily pushed the USDA price far above its peg due to thin liquidity.

    Lookonchain reported the transaction at 14.45 million ADA, with a valuation just north of $7 million, resulting in the user receiving 847,694 USDA and incurring a loss of approximately $6.2 million.

    Screenshots shared by community member $DeFiPunk show the DEX interface flashing a “high price impact” warning and estimated slippage of over 87%, with the user manually ticking the “I understand this warning” checkbox before confirming the transaction.

    That has sparked debate over whether this was a reckless move, an honest mistake from an “inexperienced voucher holder,” as Cardano founder Charles Hoskinson suggested, or even a deliberate attention play to highlight liquidity issues.

    Reactions from the Cardano community were mixed. Some, like Cardano YOD₳, argued that “one bad swap can have negative reputational consequences” and questioned whether the ecosystem has its priorities right, pointing to marketing and governance debates instead of basic liquidity.

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    Others countered that the issue was primarily “a liquidity first problem, and a DEX problem second,” criticizing the slow delivery of UX upgrades and the need for better batching solutions.

    Hoskinson, responding on X, called it a “teachable moment” for scaling Cardano’s DeFi in 2026, while firmly rejecting calls to compensate the whale.

    Market Pressure and Ecosystem Demands

    The multimillion-dollar blunder marks a continuation of a period of pressure for Cardano, with on-chain data from earlier in the month showing whales offloading 4 million ADA in a week as prices dropped from above $0.60 to roughly $0.53, further deepening bearish sentiment.

    Just days later, on November 11, there was renewed accumulation, with other large holders scooping up nearly 1% of the supply during a dip below $0.50, leading analysts to predict a possible rebound if ADA could reclaim the $0.70 area. This has not yet occurred, with the asset, which is ranked the eleventh-largest in terms of market cap, trading around $0.50, down approximately 17% in the last week and 22% over the past 30 days, according to CoinGecko data.

    Meanwhile, the episode has intensified calls for greater stablecoin liquidity on Cardano. Commentator Lorenzo argued plainly, “We need to 10x the stablecoin liquidity withdrawal right now.” This sentiment was echoed by others who believe the incident proves there is a substantial demand for moving capital on the network, but a lack of infrastructure to support it. However, Hoskinson repeatedly asserted, “It is not my job to bring a stablecoin to Cardano,” placing the responsibility on the broader ecosystem.

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    Wayne Jones

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  • XRP Price At $1,000, Solana To $1,000, And Cardano At $100? Bull Run Predictions Catch Attention

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    Crypto analyst Remi has made his bull run predictions for coins like XRP, Solana, and Cardano. Despite the price targets being ambitious, the analyst described them as “semi-conservative,” suggesting the coins could rally much higher. 

    XRP And Solana To $1,000, And Cardano To $100

    In an X post, Remi predicted that XRP and Solana will rally above $1,000 while Cardano will reach $100. He stated that these price targets are based on information, research, and historical performance. The analyst also made predictions for HBAR, XLM, ONDO, LINK, XDC, and QNT, all of which he expects to record astronomical gains. 

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    Interestingly, the analyst stated that these were semi-conservative targets for XRP, Solana, and Cardano and that he personally thinks they could rally higher. He added that these targets might not even come close to his expectations and that they are simply based on utility and a super cycle without any black swan events. 

    Remi also advised investors not to make the same mistake he made during his first bull run by leaving profits on the table in hopes that coins like XRP, Solana, and Cardano will go higher. He told them not to be greedy and take profits at different intervals. The analyst added that they should not wait for the high numbers because they might not happen for various reasons. 

    Furthermore, the crypto analyst advised investors on custody, urging them to secure their XRP, Solana, and Cardano in a cold wallet. He explained that crypto exchanges are “in it to win it” and are not here for the customers. Meanwhile, the analyst didn’t mention what utility could spark these runs for these coins. 

    However, it is worth noting that XRP, Solana, and Cardano are all set to have their spot ETFs, although it remains to be seen how high these coins could reach on the back of these institutional inflows. 

    Why the Price Targets Are Not “Crazy”

    Remi admitted that the price targets for XRP, Solana, and Cardano may seem crazy, but assured that they are not. He explained that the market cycle is now 5 years instead of 4, indicating that “huge numbers are coming.” He noted that these big numbers will coincide with the voting season. 

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    This is why he thinks there will be a super cycle that runs into the fourth quarter of next year. He told XRP, Solana, and Cardano holders to be mindful of the winter Olympics next year, in February, warning that any major attack during the event would disrupt the cycle. As such, he remarked that it may be wise to take a little profit early on before the event. Notably, experts like Bitwise CIO Matt Hougan have also stated that the four-year cycle is likely over, predicting that the bull run could extend.

    XRP trading at $2.4 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Peakpx, chart from Tradingview.com

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    Scott Matherson

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  • Analysts Caution Cardano (ADA) May Drop Further Before $1 Rebound After 12% Dip

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    Cardano (ADA) fell roughly 27% this week, slipping below the $0.66 support as risk-off flows hit crypto. Bitcoin’s slide toward $104,000 and softer altcoin liquidity magnified downside, and on-chain data shows large holders leaning defensive.

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    Whale Flows Split as ADA Loses Support

    Santiment-tracked wallets holding 1–10 million ADA offloaded about 40 million ADA over seven days, while broader whale distribution reportedly reached 350 million ADA, pressuring price. other big wallets accumulated 140–200 million ADA, creating a split tape that’s fueling choppy consolidation between $0.65–$0.70.

    Derivatives add to the cautious tone. Cardano’s open interest slipped 2.12% to $669.9 million, and long liquidations ($1.13 million) dwarfed shorts ($187,000), signaling bulls bore the brunt of the latest flush.

    On the 4-hour chart, ADA is carving a falling wedge, but confirmation requires a breakout above $0.74. Until then, momentum indicators remain mixed: RSI 37 (approaching oversold) while CMF 0.12–0.15 hints at returning spot inflows that have yet to overpower supply from large holders.

    Downside Risk First, Rebound Later

    Technicians flag a “risk-first” path: losing $0.66 puts $0.65 in play; failure there opens $0.62–$0.60, then $0.57 (channel/structure confluence). A deeper shakeout could probe $0.53 if broader crypto weakness persists.

    On the upside, ADA must reclaim $0.66 and then clear $0.74–$0.80 (50-day EMA cluster) to flip trend strength. Above that range, bulls target $0.86, with a psychological $1.00 retest feasible into Q4 if risk appetite and flows improve.

    Several analysts still eye a path toward $1.20–$1.60 on a confirmed breakout, but most caution the market may dip before it rips given leverage resets and uneven liquidity.

    ETF headlines (including the Oct. 23 Grayscale ADA ETF decision window), stablecoin and ETF net flows, and whether whale selling cools. A rotation back into altcoins typically follows BTC stabilization; conversely, renewed BTC downside would likely extend ADA’s consolidation near the lows.

    ADA's price trends to the downside on the daily chart. Source: ADAUSD on Tradingview

    Treasury, Staking, and Ecosystem Still Build

    Beyond price, Cardano’s community treasury has surpassed 1.6 billion ADA ($1 billion), funded by fees and staking rewards and governed via Project Catalyst, a war chest that supports tooling, DeFi, and infrastructure without VC overhang.

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    New staking access (e.g., eToro U.S.) and ongoing initiatives like Midnight and Leios continue to broaden the roadmap, even as TVL ($288 million) lags larger chains.

    Cover image from ChatGPT, ADAUSD on Tradingview

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    James Halver

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  • As XRP Grabs Headlines, Can Cardano Price Surge Toward $100?

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    While tokens like XRP dominate headlines amid rising ETF approval speculations, the Cardano price is also gaining attention as market conditions slowly recover from bearish trends. New data from Changelly, a crypto exchange, has suggested that Cardano could be gearing up for a massive breakout. The big question now is whether the cryptocurrency has the momentum to reach a $100 milestone. 

    Why A $100 Cardano Price Remains A Distant Goal

    Cardano’s price action has generated significant interest in recent months, as analysts from Changelly attempt to project its next big move. According to their forecasts, ADA remains a relatively low-priced cryptocurrency compared to some of its altcoin rivals like XRP, with projections pointing to modest gains in the near term and a potential surge above $100 by 2040. 

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    Changelly’s outlook for 2025 suggests a trading range between $0.77 and $0.97, with the average price stabilizing around $1.17. These numbers highlight a steady upward trend but remain far from the speculative $100 level. Breaking this down further, experts from the crypto platform project that in September 2025, ADA could fluctuate between $0.891 and $0.924, averaging near $0.908. 

    By October 2025, expectations widen slightly, with potential movement between $0.88 and $1.17. November’s outlook places the Cardano price between $0.77 and $1.05, averaging around $0.91, while December 2025 suggests values between $0.807 and $0.87. Taken together, these estimates show that ADA is likely to continue strengthening its price floor while maintaining realistic, incremental growth rather than explosive parabolic moves.

    ADAUSD now trading at $0.89. Chart: TradingView

    From this perspective, a $100 Cardano price seems improbable within the near or mid-term future. However, in the long-term, Changelly predicts that ADA could exceed the $100 target to reach $116.83 by February 2040. The maximum price for that month has also been set at $132.72. 

    Cardano’s Price Action

    While Changelly’s technical analysis provides insight into potential short-term price movements, Cardano’s long-term story is deeply rooted in its fundamentals. At present, the cryptocurrency trades around $0.91 with a circulating supply of over 35.7 billion ADA, giving it a market capitalization of approximately $32 billion. 

    ADA has displayed steady momentum in the last week, climbing 1.48% and nearly 6% over the past month. According to Changelly, this growth signals that Cardano still commands a solid market presence, reinforcing its potential for a breakout soon. Although the cryptocurrency has dipped by over $0.01 in the past 24 hours, Changelly points out that recent trading activity has turned notably bullish for the cryptocurrency.   

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    While Cardano’s strong fundamentals fuel its  expanding ecosystem and steady price recovery, its vast circulating supply makes a potential surge to $100 mathematically challenging. Reaching this level would demand a market cap far exceeding that of Bitcoin at its peak. Still, Changelly notes that ADA is showing great potential lately, suggesting that its current price level could be a good buying opportunity for investors.  

    Featured image from Unsplash, chart from TradingView

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    Scott Matherson

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  • Ethereum Validator Slashing Puts Cardano’s Resilience In Focus – Here’s Why

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    A recent slashing of Ethereum from different validators has reignited the debate around staking models, with many pointing to Cardano’s more resilient structure as a key differentiator. While Ethereum’s system penalizes validators for downtime or misbehavior, Cardano’s staking approach avoids such risks, offering delegators security without the fear of losing funds. 

    Why Simplicity And Resilience Are Cardano’s Key Advantages

    On September 10, a slashing of 11.7 ETH from 39 Ethereum validators highlights the advantages of Cardano’s staking structure. Crypto analyst Dori has highlighted on X the fundamental differences in staking requirements and risks between the two networks. On Ethereum, it is structurally impossible to stake 0.1 ETH directly on ETH, but an individual must stake a minimum of 32 ETH and operate a validator node themselves. 

    However, platforms have been built on Ethereum to allow staking with as little as 0.1 ETH, and liquid tokens are issued. The critical difference is that, due to the slashing mechanism, Ethereum’s structure carries the risk of a cascading collapse. This has given rise to platforms like Ankr and Lido Finance, which pool ETH from many users, run validators, and issue liquid staking tokens such as ankrETH and stETH to solve the problem of locked-up funds.

    In this incident, an operational mistake by the operators of 39 validators led to a slashing penalty of 11.7 ETH, which is worth approximately $52,000. If a larger slashing event were to occur, it could lead to the de-pegging of the liquid staking tokens, potentially triggering a cascading collapse as DeFi ecosystem protocols built upon them.

    On Ethereum, iquid staking platforms were developed to remove obstacles to staking, and liquid tokens were distributed to address the issue of lock-ups. In contrast, Cardana’s staking model allows anyone to stake as little as 10 ADA in a stake pool without worrying about slashing. There are no lock-up periods, and a user’s staked funds are never at risk of being lost, even if their chosen stake pool misbehaves.

    Fundamentally Different Approaches To Staking

    Cardanians (CRDN) also stated that a critical flaw in Ethereum’s staking model has been exposed, highlighting the fundamental advantages of Cardano’s design. The data shows that the Ethereum staking exit queue has hit an all-time high, forcing users who unstake their ETH to wait an estimated 46 days to get their funds back.

    However, Cardano’s ADA staking model offers a fundamentally different experience, with liquid staking and no entry or exit queues. When a user stakes their ADA, the funds remain in their wallet and are always available for use or transfer, and earn rewards without being locked up. “The design is fundamentally better,” the expert noted.

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    Godspower Owie

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  • Cardano Is Not Dead: Analyst Confirms Breakout With New ADA Price Targets

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    The Cardano (ADA) price is still holding up quite nicely and has maintained support above $0.81. This level is now acting as the major level in the recovery, becoming even more important as the technicals pile up at this point. Highlighting the importance of holding this level, pseudonymous crypto analyst The Alchemist Trader shows what will happen as long as bulls continue to maintain their hold.

    The Foundation For The Cardano Price Rally

    In the analysis, the importance of holding $0.81 is shown by several major developments. The first of these is the fact that this level is the 0.618 Fibonacci retracement support. In addition, it is also the major support on the daily timeframe, helping to maintain the bullish momentum. Thus, the foundation of the Cardano price rally is built on the $0.81 support.

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    As The Alchemist Trader explains, the $0.81 level is pivotal for the ADA price right now. In the past, it has served as the demand zone for the altcoin, absorbing sell liquidity and holding up against pressure from the bears. Given this, the analyst believes that holding above this region reinforces the bullish narrative for Cardano despite other bearish factors such as declining volumes.

    Other bullish factors that have emerged are the fact that the ADA price has continued to put in higher lows and higher highs. Naturally, higher lows and higher highs mean an asset is maintaining its bullish trend, and Cardano is no different.

    With each correction reaching into the key support zone at $0.81 before bouncing, the analyst points out that this means that bulls are still in control. Such corrections are ‘healthy resets’ and do not signal exhaustion for the digital asset.

    Source: TradingView

    Where ADA Price Is Headed Is $0.81 Holds

    As long as the $0.81 region holds, then the ADA price does remain incredibly bullish. The first major push upward is expected to clear out the $1 resistance and move it into the $1.16 region. This is the spot that bulls will need to beat in order to actually validate the bull trend.

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    Once $1.16 is surmounted, then the resistance at $1.19 swims into view, and this is where the momentum must hold the most. This is because these are regions that align with the “previous resistance levels and Fibonacci extension objectives.” Thus, beating these will mean that the price can continue to rally.

    “A rotation toward $1.16 appears likely, and a breakout beyond that level could drive price action toward $1.19 in the short to mid-term,” the crypto analyst stated.

    Cardano ADA price chart from Tradingview.com
    ADA moves toward $2 | Source: ADAUSDT on Tradingview.com

    Featured image from Dall.E, chart from TradingView.com

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    Scott Matherson

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  • Cardano Founder Hoskinson Says Ethereum Is Doomed To Fail: Here’s How

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    In a wide-ranging CoinDesk interview released yesterday, Cardano founder Charles Hoskinson sharpened a years-long critique of Ethereum’s long-term viability, arguing that the network’s reliance on rollups and external scaling layers has created economic incentives that will ultimately hollow out the base chain. While acknowledging Ethereum’s technical progress, he contended that “as a general-purpose, smart-contract ledger,” the project has nurtured an ecosystem that “will slowly but surely eat [it] alive.”

    Why Ethereum Is Doomed To Fail: Cardano Founder

    Hoskinson framed the core problem as one of misaligned incentives between Ethereum’s L1 and its expanding constellation of L2s. “To make Ethereum better, they’ve had to embrace layer twos,” he said. “The layer twos are not strong allies… they’re partners of necessity.”

    In his view, rollup teams “don’t particularly care if they’re attached to Solana or they become a layer one,” so if better economics or user growth lie elsewhere, “they could simply migrate or go multi-chain.” New applications and liquidity, he added, are already “outside of the Ethereum ecosystem,” eroding the network’s historical network effects.

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    “So if they’re gobbling up the transaction volume and gobbling up the users and they’re gobbling up the token appreciation, if there’s a more attractive target, they could simply migrate or go multi-chain,” Hoskinson said, adding that this trend is already observable with LayerZero and Espresso.

    That erosion, Hoskinson argued, is set to accelerate as two external forces gather momentum. First, he described Bitcoin DeFi as a “sleeping giant” that could attract “hundreds of billions” in total value once primitives such as stablecoins, DEXs and lending are built with credible security assumptions. “When Bitcoin wakes up… its TVL will be… larger than the market cap of Ethereum,” he said, noting that sovereigns and major asset managers would likely prefer to build around Bitcoin exposure.

    Second, he expects large technology platforms and traditional financial institutions to enter with their own infrastructure, adjacent to public chains but not economically dependent on Ethereum’s base layer—“Microsoft… Google… Amazon… have no incentive to go boost Ethereum or deploy on Ethereum,” he said.

    The technological arc, in Hoskinson’s telling, also tilts away from shared-state blockchains. As zero-knowledge proofs and “proof-carrying code” mature, more computation can be executed off-chain—in secure enclaves, on devices, or within MPC systems—leaving the chain to verify succinct proofs. “Why… spend billions of dollars a year maintaining this very weak computer that’s shared and replicated,” he asked, “when you can turn it into a distributed problem that runs everywhere?”

    Like Microsoft missing mobile and pivoting from Windows dominance to Azure, he suggested, Ethereum may ultimately need to “pivot to a new McGuffin” to retain relevance even if it remains present in the stack.

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    Notably, Hoskinson’s assessment was not unqualified dismissal. He credited Ethereum for “keeping up with the times,” investing in rollups and zero-knowledge technology, and building a “Goliath” ecosystem that survived early funding scares and the DAO crisis. “They’ve done some really incredible things,” he said, and he allowed that “it’s entirely possible that Ethereum could pivot… and get very good at that” new role. The nub of his skepticism is not competence but structure: in his view, the more rollups succeed, the less compelling the L1 becomes as the economic hub.

    The remarks reprise and elaborate on a stance Hoskinson aired earlier this year, when he said during an AMA: “I don’t think Ethereum will survive more than 10 to 15 years,” predicting that L2s would “suckle out all of the alpha.”

    Hoskinson’s analysis also folds into his own current bets for Cardano. He cast Bitcoin-centric DeFi as a three-rule design target—security derived from Bitcoin, fees paid in Bitcoin, and yields returned in Bitcoin—and argued that companion chains and trust-minimized bridges will be necessary to make it work. He presented Cardano’s extended-UTXO design and its privacy sidechain Midnight as infrastructure positioned to serve that market while offering selective-disclosure compliance for institutions.

    At press time, ADA traded at $0.89.

    Cardano price
    ADA must break the black trendline, 1-week chart | Source: ADAUSDT on TradingView.com

    Featured image created with DALL.E, chart from TradingView.com

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    Jake Simmons

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  • Cardano Pushes Past $0.85: Falling Wedge Breakout Confirmed?

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    Cardano has just seen a surge beyond the $0.85 mark, potentially confirming a bullish breakout forming in the asset’s 4-hour price chart.

    Cardano Is Breaking Out Of A Falling Wedge Pattern

    In a new post on X, analyst Ali Martinez has talked about a technical analysis (TA) pattern forming in the 4-hour price of Cardano. The pattern in question is a “Falling Wedge,” which belongs to the broader class of Wedges.

    Wedges form whenever an asset travels between two converging trendlines. When the lines are sloped upward, the formation is known as a Rising Wedge. Similarly, price action to the downside creates a Falling Wedge.

    Wedges sound similar to Triangles, which also involve converging trendlines, but the key difference between the two is that Triangles are consolidation patterns, while Wedges involve some net movement up or down. Just like with Triangles, though, the trendlines of the channel act as support/resistance barriers for the price. Also, a breakout of either of these bounds can imply a continuation of the trend in that direction.

    Generally, Wedges are considered more likely to lead to reversals. A Falling Wedge may see the price eventually break past the upper line, while a Rising Wedge could end with a breakdown of support. Cardano has recently been moving inside a channel similar to a Falling Wedge. Below is the chart shared by Martinez, showcasing the formation.

    At the time the analyst posted the graph, Cardano was beginning to show signs of a surge beyond the resistance line of this Falling Wedge. The breakout attempt came as the asset was closing in on the convergence point of the trendlines.

    Near the apex of such patterns, price action occurs inside a tight range, so breakouts can become more likely. This could be what was developing for ADA at the time.

    Martinez noted in the post that the cryptocurrency must break past $0.84 to confirm the bullish breakout. Since then, ADA has surged further, reaching the $0.85 level. Thus, it’s possible that a sustainable break could really be kicking off for the coin, at least if the Falling Wedge is anything to go by.

    While Cardano is witnessing this Falling Wedge, fellow altcoin Solana has been traveling inside a Rising Wedge instead, as pointed out by the analyst in an earlier X post.

    Solana Rising Wedge

    As displayed in the chart, Solana has been trading inside this Rising Wedge for a few months now and is slowly inching toward the end of it. If the pattern is going to be a reversal one, then a bearish breakout may be coming for SOL.

    ADA Price

    At the time of writing, Cardano is floating around $0.851, up almost 4% over the last seven days.

    Cardano Price Chart

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    Keshav Verma

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  • Cardano (ADA) News Today: September 4th

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    The tenth-largest crypto asset by market capitalization experienced a red week, with varying forecasts about its future direction.

    At the same time, the foundation behind the underlying blockchain and its co-founder presented some interesting developments.

    Going Up Or Down?

    While the blockchain’s native token has dropped about 6% over the past week, according to data taken at print time from CoinMarketCap, it is still up 159% for the year.

    Source: CoinMarketCap

    Sentiment on X regarding a bear or bull case seems to be a mixed bag, with one prominent market intelligence platform noting that traders may be turning bearish. However, they also noted a key point: prices often deviate from expectations, so it could point to the contrary.

    One chartist pointed to ADA printing an inverted head and shoulders pattern, which is usually considered a bullish reversal, signaling a likely uptrend.

    Another analyst shared a graph showcasing bear market performance over the past few years, stating that several alts have outperformed Cardano’s token.

    A price prediction for the upcoming week places support levels around $0.77-0.70 and resistance roughly at $0.90-$1.

    E-Books on The Blockchain

    The non-profit organization behind the blockchain, the Cardano Foundation, announced a new use case within the ecosystem, in the form of tokenized e-books, by partnering with the team behind Book.io.

    By introducing Decentralized Encrypted Assets (DEAs), the tide will shift for writers and consumers alike, as digital books will be transformed into ownable and transferable assets, rewriting the distribution of intellectual property and royalties.

    The first pilot of this new protocol was already unveiled at the 2025 Cardano Ecosystem Guide earlier in January, where 2,000 copies of the book “I Can Aiken” were distributed.

    ETF Finally Coming?

    Grayscale, the world’s largest digital asset investment firm, with over $50 billion in assets under management (AUM), has filed an S-1 form with the SEC for an ADA exchange-traded fund (ETF).

    This initial ETF filing was initiated in February with an application to the New York Stock Exchange (NYSE). Following numerous delays, we are now approaching the decision deadline, set for October 26th this year, which was postponed from the end of August.

    As per Polymarket data taken at the time of writing, the chance of approval stands at 87% after the recent dip toward 60%.

    Source: Polymarket

    Cleared of Wrongdoings

    The Cardano blockchain’s co-founder, Charles Hoskinson, shared a post presenting the results of an investigation carried out by law firm McDermott Will & Schulte and accounting company BDO for the ADA Voucher Conspiracy.

    These vouchers were sold in Asia between 2015 and 2017 to raise funds, and all of them were redeemed once the network launched. The investigation was initiated as a result of claims in May this year from an NFT artist that Hoskinson used a secret “genesis key” during a 2021 network upgrade (the Allegra hard fork) to seize 318–350 million ADA, about 0.2% of the initial coin offering (ICO) supply.

    The audit found that 99.7% of vouchers were redeemed, uncovered no transgressions, and cleared the project of misconduct.

    “After review of tens of thousands of documents, a forensic on-chain and traditional forensic analysis, and eighteen formal interviews of current employees, former employees, Voucher Holders, service providers, community members, and other third parties, the Investigation determined that each of the allegations related to the Topics of Investigation does not have any basis.”

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    Dimitar Popov

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  • Cardano Founder Says Chainlink Quoted Them An ‘Absurd Price’, Here’s Why

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    Cardano’s founder, Charles Hoskinson, has clarified why the blockchain platform was excluded from a prominent US government initiative meant to publish official economic data on public blockchains. Blockchain networks like Ethereum, Solana, Avalanche, and Optimism made the cut; Cardano didn’t. Hoskinson revealed during a YouTube AMA that the reason wasn’t technical or regulatory, but it was grounded in economics. Specifically, he said the integration fee quoted by Oracle specialist Chainlink was absurd, which made Cardano’s participation really unfeasible.

    Chainlink’s Absurd Fee

    As one of the biggest blockchain ecosystems, Cardano’s inability to participate in the US government’s recent blockchain initiative to bring macroeconomic data onto the blockchain took many crypto participants by surprise. However, while speaking at a recent surprise AMA on his YouTube channel, Cardano founder Charles Hoskinson says the reason boils down to money. 

    Related Reading

    According to Hoskinson, the main reason was due to its pending partnership with Chainlink’s oracle integration, which is yet to be finalised because of the absurd fee charged by Chainlink. Hoskinson did not shy away from strong language: “They gave us an absurd number for integration. I said ‘f– it, we’ll handle it. We’ll figure it out,’” he said.

    Despite the frustration, he tempered his critique with respect. He described Chainlink co-founder Sergey Nazarov as “extremely smart” and “a very good businessman”, someone who “sees the future” and, in Hoskinson’s words, is “sitting on a golden egg”. 

    Chainlink’s oracle solutions are very important for connecting smart contracts to real-world data. As such, Hoskinson’s metaphor acknowledges Chainlink’s powerful position in the blockchain ecosystem. 

    How It Stalls Cardano’s DeFi Growth

    Without a cost-effective oracle integration, Cardano’s decentralized finance landscape has struggled to keep pace with other blockchain ecosystems. To put this into perspective, Ethereum’s integration with Chainlink has allowed large inflows into its DeFi ecosystem, with about $13.4 billion in Total Value Locked (TVL) added from between August 2 ($78.222 billion) and August 31 ($91.595 billion), according to data from DeFiLlama.

    Related Reading

    Meanwhile, Cardano’s TVL broke below $400 million in August, and daily active addresses have also fallen massively. At the time of writing, Cardano’s TVL is sitting at $367.91 million. The result is a disconnect between Cardano’s on-chain activity and ADA’s price action, which witnessed a steady increase in August alongside the rest of the crypto market.

    Nonetheless, Hoskinson is still optimistic. Talks with Chainlink are ongoing, and he’s determined to find common ground with Chainlink. He also revealed discussions with the team behind the USD1 stablecoin and hinted at potential collaboration with Aave, which he described as part of a bundle. If USD1 (already launched on Ethereum, BNB, and Tron) comes to Cardano, it could become the ecosystem’s largest stablecoin. Combine that with oracle access and lending support from Chainlink, and Cardano could strengthen its DeFi foundations significantly.

    At the time of writing, Cardano is trading at $0.8307, up by 1.1% in the past 24 hours.

    ADA trading at $0.83 on the 1D chart | Source: ADAUSDT on Tradingview.com

    Featured image from Adobe Stock, chart from Tradingview.com

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    Scott Matherson

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  • $4B Floods Into Ethereum in August Alone While Bitcoin Struggles With Outflows

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    Digital asset investment products staged a comeback last week, reversing prior outflows with $2.48 billion in inflows. August inflows now total $4.37 billion, which lifted year-to-date numbers to $35.5 billion. Activity was strong until Friday, when flows turned negative following the Core PCE release.

    The data dampened hopes for a September Fed rate cut and frustrated crypto investors. Combined with continued weak price action, this has pressured the market. As a result, total assets under management declined by 10% from recent highs to $219 billion, as the sector witnessed both resilience and fragility.

    Investors Bet Big on Ethereum

    According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report, investor sentiment leaned strongly toward Ethereum, which brought in $1.4 billion in inflows against Bitcoin’s $748 million. August inflows for Ethereum now stand at $3.95 billion, while Bitcoin trails with $301 million in outflows.

    Meanwhile, Solana and XRP gained momentum from ETF optimism, securing $177 million and $134 million in inflows. Inflows of $5.2 million and $3.6 million into Cardano and Chainlink further signaled diversification beyond the two largest cryptocurrencies. Multi-asset products also attracted a modest $0.7 million in inflows.

    Sui, on the other hand, was the only asset that bucked the trend with $5.8 million in outflows over the past week.

    Widespread Regional Inflows

    Looking at geographic trends, the United States continued to dominate regional inflows, pulling in $2.29 billion last week. Other regions also saw positive sentiment, with Switzerland recording $109.4 million, Germany $69.9 million, and Canada $41.1 million. Hong Kong followed with $12.4 million during the same period, while Australia and Brazil contributed $2.9 million and $1.6 million, respectively.

    Sweden, however, recorded more than $45 million in outflows.

    CoinShares said that this broad regional participation of inflows reflects a healthy appetite for digital assets across the world. Meanwhile, the firm added that the outflows observed on Friday were likely the result of profit-taking activity, rather than evidence of a more concerning trend.

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    Chayanika Deka

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  • Cardano Is Not ‘Dead’: Crypto Analyst Predicts Surge To $5

    Cardano Is Not ‘Dead’: Crypto Analyst Predicts Surge To $5

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    According to the analysts on the Discover Crypto YouTube channel (with 1.4 million subscribers), Cardano might surge to $5. This prediction starkly contrasts with the pessimistic views currently circulating within the broader cryptocurrency community, challenging recent headlines that have questioned ADA’s future viability.

    Why Cardano Could Hit $5

    The analyst first addressed the negative sentiment surrounding Cardano, pointing out a series of bearish headlines from various crypto news outlets. He highlighted the contradiction between the public perception of Cardano as a “dead coin”t and the ongoing vigorous development activities within the Cardano ecosystem.

    “Despite what the mainstream media is portraying, the development activity on Cardano has been robust, ranking third among all cryptocurrencies,” the analyst asserted. This was further emphasized by recent data showing that developers continue to build and refine the platform, indicating a healthy and active development environment.

    Related Reading

    Focusing on the forthcoming Chang hard fork, the analyst described this event as a pivotal moment for Cardano. “The Chang hard fork represents the most significant milestone in Cardano’s history,” he noted. He added, “Maybe articles are out there trying to suppress the price right before the price goes parabolic and just rallies to the upside potentially even $5 this cycle.”

    From a technical analysis standpoint, the analyst introduced the “breaker block pattern,” a less common but noteworthy technical chart pattern often used by traders. The breaker block pattern occurs when a corrective price block is fully retraced after a strong directional market move.

    ADA/USDT, 1-month chart price analysis | Source: YouTube @Discover Crypto

    This pattern is considered bullish as it typically indicates that after a period of price consolidation or correction, the original bullish trend has regained strength and is likely to continue. “We’re observing a classic breaker block formation in ADA’s chart, which historically precedes significant price rallies,” explained the analyst.

    Related Reading

    Coupled with this pattern, the analyst pointed to a promising stochastic RSI crossover on the monthly chart—a technical indicator often used to predict changes in momentum. “The stochastic RSI is about to cross, and this is a very bullish sign historically. When this blue line passes the orange line, it sets up previous rallies, which we can clearly observe if we look back at the charts,” explained the analyst.

    The discussion also extended to market dynamics, specifically the order book data for ADA, which showed a predominance of buy orders over sell orders. “A glance at the order book reveals a significant inclination towards buying rather than selling, suggesting a strong market consensus leaning towards a bullish trajectory for ADA,” he commented.

    Coinbase depth chart ADA/USD
    Coinbase depth chart ADA/USD | Source: YouTube @Discover Crypto

    In conclusion, the analyst urged viewers to look beyond the negative headlines and focus on the substantial foundational improvements and strong technical indicators that support a bullish outlook for Cardano. “Ignore the detractors and the negative press. The data, the developments, and the technical indicators all align to suggest that ADA is poised for a significant upward movement, potentially reaching as high as $5 in this cycle,” he concluded.

    At press time, ADA traded at $0.3379.

    Cardano price
    Cardano price, 1-day chart | Source: ADAUSDT on TradingView.com

    Featured image from Shutterstock, chart from TradingView.com

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    Jake Simmons

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  • Cardano Eyes $0.3389: Can Bulls Sustain ADA Above This Critical Level?

    Cardano Eyes $0.3389: Can Bulls Sustain ADA Above This Critical Level?

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    Cardano (ADA) is approaching a critical juncture as it eyes a retest of the key $0.3389 support level. In recent trading sessions, ADA‘s price has previously risen above this level and is currently dropping for a second retest thereby raising concerns among investors and traders.  

    A successful defense of the $0.3389 support could signal a potential reversal and renewed bullish momentum, while a breach below this level may open the door to further declines. This article aims to analyze the significance of the $0.3389 support level for Cardano and whether bullish momentum can hold ADA above this key threshold by examining technical indicators and market sentiment.

    With a market capitalization of over $12 billion and a trading volume of over $240 million, ADA’s price was down by 0.69% trading at around $0.3462 at the time of writing. Over the past 24 hours, its market cap has decreased by 0.68%, while its trading volume has fallen by 26.44%.

    Current Technical Indicators: What They Reveal About Cardano

    On the 4-hour chart, Cardano is trading below the 100-day Simple Moving Average (SMA) and is currently experiencing a bearish trend toward the $0.3389 mark. Given this bearish sentiment, it is likely that the bears could continue to exert control and push the price toward this critical level.

    A 4-hour Composite Trend Oscillator analysis reveals that both the signal line and the SMA line of the indicator have successfully climbed above the zero line and are now approaching the overbought zone This suggests that the current drop could be temporary and that the bulls may reclaim control at the $0.3389 mark.

    On the 1-day chart, Cardano is still trading below the 100-day SMA and it is attempting a bearish move toward the $0.3389, which means that the bears are currently in control and could potentially push the price lower.

    Cardano

    Lastly, on the 1-day chart, both the signal line and the SMA line of the composite trend oscillator have dropped below the zero line into the oversold zone. This indicates that ADA’s price could reverse upon reaching the $0.3389 mark.

    Analysis: Potential Outcomes If $0.3389 Support Holds Or Fails

    An analysis of potential outcomes indicates that if the price of Cardano reaches the $0.3389 support mark and this key level holds, it could start to rise toward the $0.4233 resistance level. If the price successfully breaches this resistance, it may continue to test higher levels.

    However, should the $0.3389 mark fail to hold and the price break below this level, the digital asset may continue to move downward toward the $0.2388 range. If this level is breached, the crypto asset may experience more price drops toward other support marks below.

    Cardano

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    Godspower Owie

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  • Cardano Defies Market Downturn: On-Chain Activity Surges in July, Stats Show

    Cardano Defies Market Downturn: On-Chain Activity Surges in July, Stats Show

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    The ongoing plunge in the overall crypto market fairly began back in July where the global crypto market cap initially fell to $2.5 trillion from $2.7 trillion earlier in May. However, despite this downturn recorded in July, Cardano (ADA), the 9th largest crypto by market cap appears to have defied this bearish trend.

    Particularly, according to the Cardano foundation, the blockchain stands out in July for its notable increase in on-chain activity, despite broader market setbacks. The data provided by the Foundation reveals that the network is not only sustaining but also building momentum, a sign of resilience and growing user engagement.

    Cardano July Growth

    Regarding the network’s health, statistics revealed by the foundation show that Cardano saw a modest yet worthy increase in transactions to 94.6 million, up by 1.62% from the previous month.

    Related Reading: Cardano Goes Toe-To-Toe With Ethereum As Whales Scoop Up 120 Million ADA

    This uptick is dissected into varied transaction types, showcasing a diverse usage of the blockchain. Among these, 37% were smart contracts, reflecting the network’s strong capabilities beyond simple transactions, which accounted for 38%.

    Additionally, 25% involved metadata without smart contracts, highlighting the blockchain’s adaptability and the wide array of applications it supports.

    The foundation’s data also detailed growth in several other key areas of the Cardano network, underlining the technological advancement and deepening user involvement.

    Plutus scripts, which are essential for running smart contracts on Cardano, saw a rise of 1.88%, totalling 6,659. This increase is a direct reflection of the growing developer activity and the deployment of more complex applications on the platform.

    Moreover, the ecosystem saw a growth in native tokens, up by 1% to 10.2 million, and an even more significant rise in policies, which surged 7.6% to reach 150,477.

    Cardano on-chain statistics. | Source: Cardano Foundation on X

    Wallet statistics also paint a picture of broadening participation within the Cardano community. The total number of Cardano wallets increased by 0.71% to 4.84 million, with delegated wallets slightly up by 0.02% to 1.35 million.

    This marginal growth in delegated wallets suggests a stable interest in staking and governance participation among ADA holders.

    ADA Current Market Performance

    Regardless of this notable growth in Cardano’s on-chain activities last month, the blockchain’s native token ADA has joined in on the global crypto market downturn. Over the past 24 hours alone, ADA has recorded a roughly 7.1% decrease in its value.

    Related Reading

    This decline has brought the asset to currently trade at a price of $0.3202, at the time of writing—a slight increase from the price tag of $0.2789 seen earlier today.

    Cardio (ADA) price chart on TradingView
    ADA price is moving downwards on the 1-hour chart. Source: ADA/USDT on TradingView.com

    Interesting, despite this plunge, ADA’s 24-hour trading volume has surge significantly from below $400,000 as of yesterday to roughly above $1.250 million as at the time of writing.

    Featured image created with DALL-E, Chart from TradingView

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    Samuel Edyme

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  • Important Cardano Update Related to the Network’s Security: Details

    Important Cardano Update Related to the Network’s Security: Details

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    TL;DR

    • Input Output launched the alpha v1 release of the partner chains toolkit for Cardano to enhance network security by leveraging stake pool operators (SPOs).
    • Despite the disclosure, Cardano’s native token ADA remained around $0.38, with no significant price change.

    The Alpha V1 Release

    Input Output – a technology company responsible for the research and development of the Cardano blockchain – launched the alpha v1 release of the partner chains toolkit. The move aims to strengthen the network’s security by enabling developers to leverage Cardano’s extensive network of stake pool operators (SPOs). 

    “By leveraging SPOs, both new and existing networks can quickly increase their number of validators for a more robust and efficient security paradigm,” the announcement reads.

    The process includes a toolkit that offers numerous innovations for developers, such as mixed validator committee, consensus model flexibility, SPO participation, opt-out capability, and more. 

    At the core of the initiative is “a unique committee selection algorithm” that uses Cardano data to create trusted committees. These innovations are responsible for generating a specified percentage of blocks, thereby improving security for new protocols.

    The Input Output team added that the alpha v1 release is just the beginning of a long journey aimed at receiving feedback from the community. 

    “Stay tuned for some exciting new developments over the coming months, along with a detailed roadmap,” the team concluded.

    ADA Price Outlook

    The aforementioned announcement seems to have had little to no impact on the price of Cardano’s native token – ADA. It remains deep in the red on a weekly scale, currently trading at around $0.38 (per CoinGecko’s data).

    In addition, the cryptocurrency recorded no substantial price swings a few days ago when the US SEC made a U-turn regarding a complaint against Binance and some of the digital assets offered on its platform. Previously, the agency has accused Binance of offering and selling Cardano (ADA), Solana (SOL), Binance Coin (BNB), and other “Third Party Crypto Asset Securities” as investment contracts.

    One analyst who follows ADA’s price movements is the popular X user Crypto Tony. The trader depicted $0.57 as a potential breakout level and promised to enter the ecosystem should the asset cross it.

    Those willing to explore some interesting ADA price forecasts can take a look at our dedicated video below:

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    Dimitar Dzhondzhorov

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  • Cardano Goes Toe-To-Toe With Ethereum As Whales Scoop Up 120 Million ADA

    Cardano Goes Toe-To-Toe With Ethereum As Whales Scoop Up 120 Million ADA

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    Cardano (ADA) is currently competing with Ethereum in terms of large transaction volume. This is undoubtedly a positive development for the ADA ecosystem, especially since it indicates a wave of accumulation among the token’s large holders. 

    Cardano Matches Ethereum In Large Transaction Volume

    Data from the market intelligence platform IntoTheBlock shows that Cardano is witnessing a similar large transaction volume as Ethereum. In the last 24 hours, Cardano recorded a large transaction volume of $6.7 billion, while Ethereum witnessed a large transaction volume of $6.71 billion. 

    Related Reading

    This development suggests that Cardano whales have been active these past few days as they look to add more tokens to their positions, especially with the market currently on a dip and as these investors anticipate the much-awaited price rally from ADA. Further data from IntoTheBlock confirms this, as there has been an over 15% increase in large holders’ net flow over the last seven days. 

    Source: IntoTheBlock

    Data from the on-chain analytics platform Santiment also shows that Cardano whales have added to their positions. These investors, wallets holding between 100,000 and 10 million ADA tokens, collectively bought 120 million ADA tokens between July 17 and August 1. These wallets now hold over 5.69 billion ADA tokens. 

    An increase in whale activity presents a bullish outlook for the Cardano ecosystem. These investors could influence market prices, and these purchases could spark a significant surge in ADA’s price. This will provide a much-needed boost for Cardano, seeing how the crypto token has underperformed since the start of the year. 

    Cardano has a year-to-date (YTD) loss of over 35% and is one of the most shorted altcoins, thanks to this unimpressive price action. However, Santiment has suggested that a massive turnaround for the crypto token cannot be ruled out since Cardano being heavily shorted increases the “chances of liquidations leading to pumps.” The on-chain analytics platform claimed these liquidations could act as “rocket fuel” for a price rally for Cardano.

    Cardano 2
    Source: Santiment

    What Will Eventually Spark That ADA Rally?

    Cardano has failed to enjoy any significant rally despite several bullish developments in its ecosystem this year. The most recent bullish fundamental was the news that the US Securities and Exchange Commission (SEC) no longer considers ADA a security following the amendment of its complaint against Binance. 

    Related Reading

    Meanwhile, the Chang Hard Fork is underway as Cardano transitions to the Voltaire era and ushers in its most advanced governance system. It is worth mentioning that ADA’s price maintained a tepid price movement following the release of node validator software, version 9.1.0, which incorporates the Chang Hard Fork.

    As such, Cardano’s price action begs the question of what needs to happen for the crypto token to finally witness that much-anticipated price rally and catch up with the rest of the major cap tokens in terms of YTD gains. 

    At the time of writing, Cardano is trading at around $0.38, down in the last 24 hours, according to data from CoinMarketCap. 

    Cardano ADA price chart from A
    ADA price continues to struggle | Source: ADAUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

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    Scott Matherson

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  • Cardano Holds Strong After DDoS Attack: Market Outlook Turns Bullish For ADA

    Cardano Holds Strong After DDoS Attack: Market Outlook Turns Bullish For ADA

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    The Cardano network recently faced a distributed denial of service (DDoS) attack, a malicious attempt to disrupt its operations. However, the mechanisms and decentralized structure of Cardano effectively mitigated the attack, ensuring uninterrupted stability and operation. 

    This display of resilience has garnered praise from bullish investors and renewed confidence in the price appreciation prospects of Cardano’s native token, ADA.

    DDoS Attack Propels Bullish Sentiment

    Jaromir Tesar, an industry expert, highlighted that most services, including SundaeSwap, which processed many orders, continued to operate effectively during the attack. 

    The attacker incurred transaction fees, resulting in financial losses without causing significant disruption. According to Tesar, this incident demonstrates Cardano’s ability to withstand and thwart malicious activities, establishing it as a winner in terms of network resilience.

    Related Reading

    In an in-depth analysis of Cardano’s security, Tesar highlights the complexity of executing a DDoS attack on the network when compared to traditional client-server networks. 

    Cardano’s distributed structure includes numerous nodes, each with its own memory pool, making simultaneous attacks on multiple nodes challenging. Unlike centralized systems, where attacks are directed at a limited number of servers, Cardano’s design distributes the network load across its nodes, making it much more resilient.

    Within Cardano’s ecosystem, each block-producing node maintains a mem-pool, which acts as a waiting room for transactions before they are included in a block. Transactions are processed on a first-come, first-served basis, passing through relay nodes and diffusing to other block-producing nodes. 

    Lastly, Tesar noted in its analysis that the demand-driven protocol of Cardano allows nodes to manage their data rate, concurrency, and data volume, thereby preventing overwhelming resource consumption. This protocol protects both parties involved in transaction transfers, mitigating the risk of resource consumption attacks.

    Cardano Season Begins? 

    Dan Gambardello, founder of Crypto Capital Venture, highlighted the top-tier security measures and decentralized design of Cardano as key reasons for his bullish sentiment. 

    The ongoing attack showcased Cardano’s ability to handle such situations as intended. Interestingly, the attacker’s funds were exposed in the process and are now essentially being used to fund Cardano’s development, reinforcing the network’s resilience.

    As “Cardano season” begins, Gambardello said, with anticipation and excitement surrounding the network growing, the recent DDoS attack serves as a testament to the strength and reliability of the Cardano ecosystem. 

    Its security measures, decentralized architecture, rapid response from developers and users, and the exposure of attackers’ funds have added to the bullish sentiment surrounding Cardano’s prospects, Gambardello concluded. 

    ADA Price Analysis

    After experiencing a sharp correction that led to ADA’s price plummeting to a yearly low of $0.356 over the weekend, the cryptocurrency has regained the $0.392 level. 

    Currently, it is setting its sights on overcoming the $0.400 resistance, expecting a potential price increase to bridge the gap between its current value and the yearly high of $0.811 achieved in March.

    Related Reading

    Adding to the positive outlook for ADA’s price, technical analyst Ali Martinez recently identified a buy signal on ADA’s daily chart, indicated by the TD Sequential indicator. This signal anticipates a price rebound for the altcoin.

    Nevertheless, it is crucial for ADA to successfully surpass its current resistance at $0.400 to continue recovering from the losses incurred in recent months. The next significant resistance level on the daily chart is at $0.439.

    It remains to be seen if network developments and a general market recovery can lift the price of ADA to previously lost levels and start a new uptrend to surpass the $1 milestone.

    The 1-D chart shows ADA’s price downtrend recorded over the past months. Source: ADAUSD on TradingView.com

    Featured image from DALL-E, chart from TradingView.com

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    Ronaldo Marquez

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  • Cardano Drops As Hoskinson Clarifies Relationship To Elon Musk

    Cardano Drops As Hoskinson Clarifies Relationship To Elon Musk

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    In a recent episode of the Thinking Crypto podcast, Charles Hoskinson, founder of Cardano, addressed the swirling rumors about a potential partnership with tech mogul Elon Musk. During the podcast, hosted by Tony Edwards, Hoskinson discussed various outreach efforts made to Musk’s companies, including offers of free work to combat bot issues on the platform formerly known as Twitter, now X.

    Hoskinson Denies Rumors Of A Partnership With Musk

    Hoskinson detailed several attempts by his team to connect with Musk’s companies, particularly X (formerly Twitter), where they proposed solutions to combat prevalent issues like fake accounts and bots. “We’ve reached out numerous times to try to engage with various people at X, even offering to do free work with verified tweets or other things just because it’s so bad right now with bots and these other things, and it’s just always silent,” Hoskinson lamented.

    Related Reading

    Despite these efforts, he confirmed that Musk has never discussed Cardano or any potential collaboration personally. “I even know Kimbal Musk and I’ve talked to him on several occasions […] never once has [Elon] mentioned Cardano or me or anything,” he added.

    The founder’s comments served to quash rumors that had suggested potential uses of Cardano’s technologies, like the Midnight sidechain, in Musk’s high-profile companies such as SpaceX or Tesla. The speculative excitement around such a high-caliber partnership had been a point of discussion among investors and enthusiasts, given Musk’s known interest in cryptocurrency and his impactful endorsements of Dogecoin.

    Despite sharing mutual friends and professional connections such as podcaster Lex Friedman, Hoskinson expressed confusion and a bit of melancholy over the lack of engagement from Musk. “We share mutual friendships so I don’t know why we haven’t been able to square that circle […] maybe he’s got some people in his social circle that don’t like me and so he’s got some intel that I’m a bad person to work with or maybe it’s just he wants to do his own thing,” Hoskinson speculated.

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    Addressing Musk’s enigmatic persona and unpredictable business moves, Hoskinson noted, “He’s a magical guy. So it’s really like a sphinx hard to understand his motivations and understand why he does what he does. Why does he have this bizarre fetish for Dogecoin? Is it that he owns 20% of the supply…don’t know with a guy like that that’s the magic of Elon Musk.”

    Cardano Bears Remain In Control

    The ADA price saw a decrease of 2.2% over the last 24 hours, a dip that coincides with a broader downtrend in the altcoin market. Trading volume for ADA decreased also significantly, falling 22% to $357 million over the same period.

    The ADA price has consistently traded below the 20-day Exponential Moving Average (EMA), which has acted as a key resistance level since mid-March. While there was a brief period where ADA surpassed this threshold, it eventually faced strong resistance at the 200-day EMA and was unable to sustain its upward momentum.

    As such, the 20-day EMA, currently at $0.445, is a critical near-term resistance level. Surpassing this barrier could signal a potential shift in market sentiment, paving the way for a rally towards the 200-day EMA at $0.494. A decisive break above this longer-term EMA could firmly establish a bullish trend for ADA.

    ADA trades below the 20-day EMA, 1-day chart | Source: ADAUSD on TradingView.com

    Featured image from YouTube, chart from TradingView.com

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    Jake Simmons

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