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Can DEX Boom Save Cardano? ADA Seek Recovery As Trading Rises Cardano (ADA), a smart contract platform, is struggling. DEX volumes have increased in the DeFi sector, while Cardano's Total Value Locked (TVL) has dropped, raising worries about its ecosystem. DeFi And NFT Market Drop Artemis, a renowned blockchain analytics source, reports that Cardano's TVL has dropped from $430 million to $230 million despite the crypto industry's DEX volume spike. This shows little interest in Cardano-based dApps, which might hurt its long-term growth. The Cardano NFT space has also suffered. Over the last month, floor price and trade volume for popular NFT collections have plummeted. This declining interest in Cardano NFTs might hurt market confidence and ADA prices. The technical prognosis for ADA is negative. Price has been falling for weeks, making lower lows and lower highs. Additionally, technical indicators like the RSI and CMF are showing falling positive momentum and money flow into ADA. Cardano's future is threatened by forces beyond pricing and DeFi issues. ADA velocity, which indicates token exchange frequency, has dropped, indicating decreasing trading activity. The MVRV ratio, which measures token holders' profitability, has also decreased, indicating that most ADA addresses are underwater. The Cardano Price Forecast Cardano is a major blockchain participant, but recent events show its problems. The combination of falling price, diminishing DeFi and NFT activity, and bad on-chain indicators predicts additional decline. The ADA market valuation is $16 billion. TradingView.com chart By June 30, 2024, Cardano is likely to grow roughly 5% to $0.47. To predict asset movement, technical indications and market sentiment must be considered. Crypto bearishness may be impacted by market movements, news, or technical analysis. The Fear & Greed Index is 73, suggesting market Greed. This means investors may be more risk-taking or speculative, which might affect Cardano's price. #ETHETFsApproved #altcoins #cardano #ada $ADA

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BNB Price Recovery Bid: Will It Last? From the $585 support zone, BNB price recovered. Bulls must break $600 barrier to propel the price up soon. BNB price challenged $585 support after losing further. The price is below $600 and the 100-hour SMA. BNB/USD broke above a negative trend line with resistance at $595 on the hourly chart. If it remains over $585, the pair may rise again. BNB Price Supports After a nice rise, BNB pricing struggled about $615. Below $600, Ethereum and Bitcoin traded bearishly. The price fell below $595 and the 100 Simple Moving Average (4 hours). After falling below $586, it began a rebound. Above the $595 resistance zone and 23.6% Fib retracement level of the $613 swing high to $586 low decline. BNB/USD broke above a negative trend line with resistance at $595 on the hourly chart. Bears were aggressive at $600, the 50% Fib retracement level of the decline from the $613 swing high to the $586 low. The price is below $600 and the 100-hour SMA. Resistance near $600 is immediate. Around $602 is the next resistance. A decisive break over $602 might boost prices. In this instance, BNB may reach $615. A closing above $615 barrier might lead to a stronger move toward $620. Any more advances may challenge $632 in the coming days. More Losses? BNB may fall if it fails to break $600. The trend line and $592 provide first downward support. Near $585 is the next important support. The major funding is $572. If the price breaks below $572, it might fall to $560. More losses might cause a drop to $550. Tech Indicators BitStarz Player Wins $2,459,124 Record! Could you win big next? Play Now! Our hourly MACD for BNB/USD is falling in the negative zone. Hourly RSI (Relative Strength Index): BNB/USD is below 50. Major Support Levels: $585, $572. Major Resistance Levels: $600, $602. #BNB $BNB #Megadrop #altcoins #btc70k

Binance Selects the Artificial Intelligence-Generated Memecoin TURBO for Trading in Perpetual Futures The cryptocurrency project known as TURBO, which was introduced in 2022, bears the distinction of being the first cryptocurrency project to be developed utilizing artificial wisdom. Beginning today, May 30th, 2024, at 15:30 UTC, Binance Futures has announced the availability of USDT-margined perpetual futures for TURBO. These contracts will be effective immediately. Utilizers are now able to leverage TURBO positions up to 50 times thanks to this update, which broadens the trading choices available on the site. The statement comes after a price spike of 14% for TURBO during the last hour, which may have been spurred by the anticipated of expanded accessibility via perpetual contracts. It is worth noting that TURBO, which was introduced in 2022, boasts the distinction of being the first cryptocurrency project to be developed with the assistance of artificial intelligence more especially ChatGPT 4. This ERC-20 token places an emphasis on community engagement by providing tax-free transactions and a decentralized administrative framework. The originator of the project gave up ownership of the smart contract, which transferred the responsibility for the project's future to the users of the platform. It is clear that Binance is aware of the continuing memecoin movement, as seen by the listing of TURBO perpetual contracts. Before Binance listed TURBO, it was previously accessible for trade on other cryptocurrency exchanges including as OKX, Gate.io, and HTX. Binance was the first cryptocurrency exchange to offer TURBO. The fact that the token is available to a larger audience indicates that it already has a user base. The cryptocurrency known as TURBO is classified as a mid-cap cryptocurrency due to its current market capitalization of $424 million that it has. #ETHETFsApproved #altcoins #TURBO #ETH

FLOKI, a Shiba Inu competitor, will explode, says 2018 Bitcoin Bottom analyst Shiba Inu competitor FLOKI is back in the news after a crypto expert projected big gains for the meme currency. The currency FLOKI, which rose over 50% in May, is now backtracking. Prepare for FLOKI Breakout On Tuesday, crypto analyst Blunts discussed FLOKI and its possibilities on X (previously Twitter). He first likened FLOKI to PEPE, another Ethereum-based meme currency that beat top cryptocurrencies in May. FLOKI's pricing pattern resembled PEPE's, and he expects it to continue. Grayscale Reports Massive Crypto Sentiment Shift Post-Bitcoin Spot ETF Approval Details The crypto expert repeated their belief that the meme currency is breaking out in a follow-up piece. The meme currency is making higher lows and higher highs, which Blunts said is optimistic for the price based on history. The expert anticipates the currency to rise higher, but with many resistance points. FLOKI may continue to advance due to a 1-2 daily chart pattern. Bluntz expects FLOKI to rise above 100%. The crypto expert values the meme currency at $0.00075, which is over 200% more than its current price. FLOKI is under negative pressure due to Bitcoin's drop below $68,000. This has dropped the currency from $0.0003 to $0.000246 since May. If Bluntz's prognosis is accurate, FLOKI might restart shortly. Due to Bluntz's accuracy, the market is buying his prognosis. Bluntz became prominent in the crypto industry in 2018 for correctly predicting Bitcoin's bottom. Shiba Inu, Meme Coins In the past day, meme coins like FLOKI have fallen along with other values. The 16% rally on Wednesday had left Shiba Inu down more than 5.2% in the past day. Shiba Inu lost 50% of its profits from the previous day. Down the list, Shiba Inu's largest competitor Dogecoin is also struggling. The top meme currency lost 3.7% yesterday and 4.1% last week. On the daily and weekly charts, PEPE has lost 11.1% and 5%, respectively. #memecoins #FLOKI #SHIB $FLOKI

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