Cardano To Shed Its Gains? Profit-Taking Spikes To High Levels
On-chain data shows the profit-taking among Cardano investors has spiked to high levels, a sign that the asset may register a decline in the coming days. Cardano Has Observed High Profit-Taking After The Rally According to data from the on-chain analytics firm Santiment, AAVE, ADA, and CRV are among the altcoins that have recently observed the most extreme profit-taking. The relevant indicator here is the “ratio of daily on-chain transaction volume in profit to loss,” which, as its name suggests, tells us about how the profit-taking volume of any cryptocurrency compares with....
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Coming from below $1 with a 2,000% profit year-over-year, Cardano (ADA) continues to outperform Bitcoin, Ethereum, and other cryptocurrencies in the top 5 by market cap. As of press time, ADA trades at $2,30 with 9.8% profit in the daily chart. Related Reading | Shiba Inu Beats Out Cardano, Dogecoin On Top 10 Watch-Listed Tokens Following the general market sentiment, Cardano seems poised for further upside with an important resistance at $2.5. As seen in the chart below by Material Indicators, ADA (price in blue) experienced a massive rally from the lows of its current range.....
Monster gains for Cardano over the last two weeks have seen ADA grow 80% in value during this period. In doing so, the early hours of today saw ADA hit a price of $2.56, making a new all-time high. Bears have since stepped in to dip the price before finding support at $2.45. The rest […]
Bitcoin is getting livelier at current six-week highs, data shows, as profit-taking comes back into the spotlight. Bitcoin (BTC) asleep for up to a decade is waking up this week as BTC price action sees six-week highs.Data from on-chain analytics firm Glassnode shows some of the oldest “dormant” bitcoins returning to circulation.BTC trends out of hibernationAs BTC/USD stages something of a comeback in the second half of October, hodlers are changing their behavior after a year-long bear market.According to Glassnode, the number of bitcoins previous stationary in their wallet for 7-10 years....
Cardano (ADA) surged past the $1 mark over the weekend, marking a significant milestone in its recent rally. However, after reaching a multi-year high of $1.15, the cryptocurrency is now navigating a 17% correction as profit-taking sets in. Despite the pullback, the long-term outlook for Cardano remains bullish, fueled by renewed market momentum over the past three weeks. The price action reflects a maturing market, with ADA consolidating gains and building a foundation for its next move. On-chain data from IntoTheBlock highlights robust growth in network activity, signaling increased....
Charles Hoskinson, the founder of Cardano, has shed light on why he opted out of the annual Davos gathering, a high-profile event known for drawing the world’s elite. Instead, Hoskinson chose to attend the World of Concrete expo in Las Vegas, underscoring his personal passion for building, technology, and hands-on innovation. Cardano Founder Skips WEF […]