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Cardano Soars 20%, Could $5 be Next for ADA as BTCBULL Presale Gains Momentum

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Cardano’s ADA token is making headlines with a 20% surge since yesterday, now hovering near $0.95 after a turbulent few days.

But the big question on everyone’s mind is: can this momentum carry ADA to the $5 mark?

While Cardano gets all the attention, newcomer BTC Bull Token is also building momentum – already raising $3.2 million in its presale.

Traders Navigate Cardano’s Wild Price Action Since Sunday

It’s been a wild few days for ADA holders.

The token initially rocketed when news broke that it might be included in a proposed U.S. crypto strategic reserve – a huge nod of institutional approval.

This sent whales into a buying frenzy, scooping up over $400 million worth of ADA.

But as is typical with such rallies, the token’s price quickly plunged as traders rushed to lock in profits.

Now, ADA is regaining momentum, with buyers and sellers battling around the crucial $1 mark.

We are seeing the results of that battle in the numbers.

Spot trading volumes have jumped 5% in just 24 hours, while open interest has ticked up 4% – strong indicators of investor appetite.

Technical indicators like the MACD point towards more upside, yet there are also strong resistance levels ahead.

Friday’s Crypto Summit could be the catalyst that clarifies Cardano’s direction – at least for the near term.

Can Cardano Keep Rising to $5? Key Catalysts to Consider

So, can ADA hit that $5 target this year?

Reaching $5 would require a 420% climb from its current price – a massive challenge for a crypto of Cardano’s size.

It’s also worth noting that ADA would need to break its all-time high of $3.10 and venture into completely uncharted territory.

Such a milestone would catapult Cardano’s market cap to $176 billion – passing XRP’s valuation.

Nevertheless, some powerful tailwinds could propel ADA to these heights.

First, inclusion in a U.S. crypto reserve would be enormous, potentially opening the floodgates for institutional investment.

Rumors of a spot ADA ETF are gaining traction, and we’ve already seen how these funds can boost prices.

Plus, Cardano’s ecosystem is expanding.

The blockchain’s DeFi presence is growing, and meme coins (like SNEK) are generating serious buzz.

All of these developments point to a bright future for Cardano and ADA.

While $5 is definitely a big ask, it’s not out of the realm of possibility in today’s market.

Could BTC Bull Token Have Higher Potential Than Cardano? BTCBULL Presale Hits $3.2M

Alongside Cardano, there’s a new project making noise: BTC Bull Token.

This project taps into the excitement surrounding Bitcoin’s price movements, but with a twist.

Instead of being another random meme coin, BTCBULL will reward holders with actual Bitcoin when it reaches price milestones.

It’s like a loyalty program for Bitcoin believers – and that has helped it raise over $3.2 million in presale already.

The idea is simple: the higher Bitcoin goes, the more rewards BTCBULL holders will receive.

There’s even a huge airdrop planned for when BTC finally hits $250,000.

Adding to the excitement, the team plans to burn tokens every time Bitcoin’s price jumps by $25,000.

These burns should help push BTCBULL’s price up over time.

There’s nothing quite like BTCBULL on the market right now – which explains why the project is getting so much early attention.

Even the analysts at 99Bitcoins expect it to pump.

Members of the project’s Telegram channel are now eagerly awaiting the first exchange listing.

BTC Bull Token’s team has set aside 10% of the token supply for this listing.

So, while Cardano might be getting all the attention this week, BTCBULL is quietly positioning itself as a dark horse.

Visit BTC Bull Token Presale

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Ethereum Foundation, Whales, and Hackers: What’s Driving the ETH Sell-Off?

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TL;DR

  • Whales, hackers, and the Ethereum Foundation wallets moved over $500M in ETH through large sales and withdrawals.
  • Ethereum transfers rose to 4.6M ETH, nearing the monthly high of 5.2M recorded in July.
  • Staking inflows hit 247,900 ETH, the highest in a month, locking more supply from trading.

Large Withdrawals and Whale Activity

Ethereum (ETH) has seen heavy movement from major wallets over the past few days. On-chain data from Lookonchain shows a newly created wallet pulled 17,591 ETH, worth $81.62 million, from Kraken in just two hours. 

Over three days, two new wallets withdrew a combined 71,025 ETH, valued at $330 million, from the exchange.

One of these wallets, address 0x2A92, has withdrawn 53,434 ETH, worth $242.34 million, in two days. This includes a recent purchase of 30,069 ETH, valued at $138.46 million, during a market drop.

Major ETH Holders Offload Millions Amid Price Rally

In contrast, several separate entities have been disposing of some ETH holdings. A wallet tied to a hacker address 0x17E0 sold 4,958 ETH for $22.13 million at $4,463, securing a profit of $9.75 million. Earlier this year, the same address sold 12,282 ETH at $1,932 and later bought back part of the amount at higher prices.

A different whale sold 20,600 ETH for $96.55 million over the past two days, generating a profit of more than $26 million after holding the position for nine months. 

Meanwhile, an Ethereum Foundation-linked wallet, 0xF39d, sold 6,194 ETH worth $28.36 million in the last three days at an average price of $4,578. 

Recent sales from the same wallet included an additional 1,100 ETH and 1,695 ETH for over $12.7 million combined.

Network Activity on the Rise

CryptoQuant data shows Ethereum’s total tokens transferred have been climbing since August 9. After ranging between 1 million and 3 million ETH through late July and early August, transfers have risen to 4.6 million ETH, approaching the monthly high of 5.2 million recorded in mid-July. This increase has occurred alongside a price rally from about $3,400 to $4,600.

Ethereum (ETH) Tokens Transferred (Total)
Source: CryptoQuant

Interestingly, staking inflows generally stayed between 20,000 and 80,000 ETH per day over the past month. On August 14, inflows jumped to 247,900 ETH, the highest in the period. 

At the time, ETH was trading near $4,600. Large staking deposits reduce the amount of ETH available for immediate trading, as staked coins are locked for a set period.

Ethereum (ETH) Staking Inflow Total
Source: CryptoQuant

In the meantime, ETH trades at $4,647 with a 24-hour volume of $68.25 billion, down 2% on the day but up 19% over the week.

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Massive DOGE Whale Activity Hints at $1 Breakout

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TL;DR

  • Whales bought two billion DOGE this week, lifting their combined holdings to 27.6 billion coins.
  • A single 900M DOGE transfer worth $208M to Binance drew attention to large exchange movements.
  • DOGE broke key resistance, with momentum building for a possible push toward the $1 price mark.

Price and Market Moves

Dogecoin (DOGE) traded at $0.23 at press time, slipping 4% over the past day but still showing a 2% gain for the week. Daily turnover came in at about $6.18 billion. 

Meanwhile, the broader crypto market saw over $1 billion in liquidations. Hotter-than-expected US Producer Price Index data pushed traders to scale back expectations of a near-term Federal Reserve rate cut. DOGE had roughly 290,500 coins liquidated during the sell-off.

On the two-week chart, analyst Trader Tardigrade notes that DOGE has cleared a downward-sloping resistance line after completing what appears to be a “wave V” in an Elliott Wave sequence. Similar setups in the past, where prolonged declines stayed within falling channels before breaking higher, have been followed by sharp rallies.

Momentum gauges are also turning up. The Stochastic RSI, which had dropped into oversold territory, is now heading higher. Previous reversals from this zone have coincided with sustained upward moves. The current formation points to a possible run that could carry DOGE past the $1 mark.

Heavy Whale Buying and Large Transfers

As reported by CryptoPotato, blockchain data shows large investors have added two billion DOGE in the past week, spending just under $500 million. That brings their holdings to about 27.6 billion coins, or 18% of the supply. The buying streak has prompted speculation within the community. 

Recently, Whale Alert flagged a 900 million DOGE transfer worth about $208 million into Binance. The tracking indicates that it originated from a wallet connected to the exchange, likely as an internal activity. The address involved holds 2.88 billion DOGE, one of the largest balances on the network.

Ali Martinez also reports that transactions above $1 million reached a one-month high, with activity building since early August and peaking as DOGE traded at $0.25.

Sentiment Building

Analyst Gordon described the current setup as “a nice bit of consolidation” before a potential breakout, adding, 

“This will be one of the first coins normies FLOCK to & the pump will be MASSIVE.”

With whale accumulation rising, high-value transfers increasing, and a bullish technical pattern in play, DOGE is positioned for a potential push toward $1 if momentum holds.

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Ripple Price Analysis: XRP at Risk as Key Support Levels Could Trigger Sharp Drop

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XRP has recently entered a consolidation phase after a strong rally earlier this summer, with the price action now hovering around key resistance levels on both its USDT and BTC pairs. Yet, while momentum has slowed, the charts still indicate a generally bullish structure, with multiple key support levels remaining firmly in place.

Technical Analysis

By ShayanMarkets

The USDT Pair

On the XRP/USDT daily chart, the price is currently trading near the $3.10 mark, facing a strong resistance zone around $3.40. This follows a breakout above the $2.70 range in July, which has now flipped into a support area.

Both the 100-day and 200-day moving averages are also trending upward and recently formed a bullish crossover around $2.45, reinforcing the medium-term bullish sentiment. If the $3.40 resistance breaks, a push toward the critical $4.00 range becomes likely.

However, the RSI hovering near the neutral 50 level suggests a lack of strong momentum for now, meaning a short-term pullback into the $2.80 support zone is still possible.

This zone will be key for maintaining the bullish structure. Losing it could open the door for a deeper correction toward the 200-day moving average located around the $2.40 mark. Yet, as long as the price stays above the moving averages, the broader trend remains bullish.

The BTC Pair

Looking at the XRP/BTC chart, the pair has recently pulled back after hitting the 3,000 SAT resistance, with the price currently around 2,600 SAT.

This follows a clean breakout above the long-term descending channel and a successful retest of its upper boundary, which coincided with the 200-day moving average and the 2,400 SAT support zone. This confluence remains a key bullish technical factor, as holding above it could attract renewed buying pressure.

That said, RSI levels around 48 show that momentum has cooled after the sharp July rally, meaning XRP may continue ranging between 2,400 SAT and 3,000 SAT in the near term. A decisive close above 3,000 SAT would likely open the path to the 3,400 SAT zone, while losing 2,400 SAT could shift the bias back toward 2,000 SAT support. For now, the structure still favors the bulls as long as higher lows remain intact.

 

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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