While there were net inflows of $1.1 billion to cryptocurrency funds last week, the number of companies under management also rose to the highest level seen since the beginning of 2022. 98% of the investments made were in Bitcoin funds. It was also noted that #cardano funds received an unprecedented level of 6.1 million dollars of investment in the recent period.There were significant inflows into digital asset investment products last week. inflows of $ 1.1 billion brought the net figure since the beginning of the year to $ 2.7 billion. This figure had not been seen at all since the beginning of 2022.$6.1 million to Cardano funds!#Bitcoin funds accounted for 1,089 of the net inflows of $1.1 billion. Net investments of $ 16.5 million were made in Ethereum funds, $ 100 thousand in Solana, $ 400 thousand in TRON and $ 300 thousand in XRP funds. In this sense, the biggest inflows were to Cardano (ADA) funds. Cardano funds received $6.1 million in investments at a level not seen on a weekly basis since last year.On the other hand, there was an outflow of 400 thousand dollars from short-Bitcoin funds that invested in the decline of Bitcoin.While it is seen that almost all of the investments made were in the USA, the figure was $ 1.108 billion. The closest fund inflow to the United States was in Switzerland with only $ 39 million.#Write2Earn #binance

The price of Avalanche has increased by 6% in the past twenty-four hours, and its current price of $40.91 represents a gain of fifty percent over the course of the previous seven days.
As a result, AVAX is one of the currencies that has performed the best during this time period. Additionally, the alternative has increased by 115% in the past thirty days and by 200% over the course of the previous year.

The foundations of the currency have remained as solid as they have ever been, given the expansion of Avalanche as a blockchain network. A significant portion of this rising has been brought about by AVAX's recovery from overselling.
Furthermore, the fortunes of the currency are likely to increase in the next months, particularly in the event that 2024 ushers in a bull market.
Indicators for Avalanche are now on fire, which indicates that there is a significant amount of purchasing pressure. However, it is possible that this buying pressure may not continue for very much longer in the short term.
The relative strength index (purple) of the stock, for example, is now getting closer and closer to 90, which is a level that is firmly in the zone of "overbought."
With its 30-day average (yellow) now climbing more steeply above its 200-day average (blue), it appears like AVAX might continue to rise for a little while longer. This is because the 30-day average is now higher than the 200-day average.
There is no doubt that this is an indication of expansionary bullishness, since the trading volume of AVAX has recently increased to $1.6 billion, which is a significant increase from $300 million just two weeks ago.
Due to the fact that Avalanche has not disclosed any significant news in the last several weeks, there is no immediate fundamental rationale as to why AVAX has rebounded so rapidly in the past few days.
In spite of this, it would appear that traders and whales are now coming to the realization that Avalanche has the potential to become a sleeping giant, since its blockchain network has been enjoying consistent development over the course of the past year.
Despite this, it continues to be the fourth-largest blockchain in terms of the overall value that is locked in, which in the case of Avalanche is somewhat more than $900 million.
Additionally, it saw a significant increase in the number of sales of NTF during the month of November, in addition to an increase in the utilization of Avalanche-based yield farming protocols, such as Vector Finance and Beefy Finance.
When all of these elements are considered together, they give the impression that the price of Avalanche will continue to rise over the next few weeks and months, and analysts are increasingly anticipating a bull market in the coming year.
It is possible that AVAX will be one of the most significant winners of such a market, with the possibility that its price will have reached $60 during the first few weeks of 2024.
#AVAX #avalanche #cardano

Cardano, often referred to as ADA, stands out in the cryptocurrency space for its unique approach to blockchain technology. Let's delve into the key aspects of Cardano and why it has captured the attention of both investors and tech enthusiasts.1. The Visionary Foundation: IOHK's Role in Cardano's GenesisCardano was founded by Input Output Hong Kong (IOHK), led by Charles Hoskinson, a co-founder of Ethereum. IOHK's commitment to scientific principles and a research-driven approach sets the foundation for Cardano's development, aiming to create a secure and scalable blockchain.2. The Three-Layer Architecture: A Technical MarvelCardano introduces a three-layer architecture, comprising the Cardano Settlement Layer (CSL), the Cardano Computation Layer (CCL), and the Cardano Control Layer (CCL). This structure enhances security, scalability, and sustainability, addressing key challenges faced by earlier blockchain platforms.3. Proof-of-Stake Consensus: Ouroboros ProtocolCardano employs the Ouroboros Proof-of-Stake protocol, a groundbreaking consensus mechanism. This approach not only reduces the environmental impact associated with traditional Proof-of-Work systems but also enhances the efficiency and security of the Cardano network.4. Smart Contracts: Alonzo UpgradeOne of Cardano's most anticipated milestones was the Alonzo upgrade, enabling the implementation of smart contracts. This marked a significant step forward, allowing developers to create decentralized applications (DApps) on the Cardano blockchain, expanding its use cases.5. Sustainability and Interoperability: Cardano's Competitive EdgeCardano emphasizes sustainability by promoting energy efficiency through its Proof-of-Stake model. Additionally, interoperability is a key focus, aiming to enable seamless communication between different blockchain networks. This positions Cardano as a potential bridge between various decentralized ecosystems.6. Community Engagement: A Vital ForceThe Cardano community plays a crucial role in the project's growth. With a strong emphasis on inclusivity and transparency, Cardano fosters an environment where community members actively participate in decision-making processes through Project Catalyst, Cardano's decentralized governance system.7. Potential Challenges: The Road AheadWhile Cardano boasts innovative features, it is not immune to challenges. Market competition, regulatory developments, and the need for widespread adoption are hurdles that Cardano must navigate as it seeks to solidify its position in the blockchain space.In conclusion, Cardano represents a compelling blend of scientific rigor, technological innovation, and community engagement. As it continues to evolve, Cardano's impact on the broader blockchain industry is worth monitoring, making it a fascinating player in the dynamic world of cryptocurrencies. #ADA #cardano #MyFirstSquarePost $ADA

Top crypto analyst @Cryptoinsightuk remains bullish on XRP and ADA overall, seeing both primed for aggressive moves higher despite some recent price consolidation.
For XRP, massive short interest has built up, setting the stage for a short squeeze. @Cryptoinsightuk points to a huge spike in open interest as XRP declined, representing over $100 million worth of shorts added. Even as price dropped further, open interest remained elevated, signaling heavy short positioning.

@Cryptoinsightuk believes a break above key resistance around $0.64 could trigger an explosive move in XRP, as short sellers scramble to close out positions. This could create a cascading effect driving rapid gains, with the analyst eyeing a target range of $0.89 to $1.35. The bullish divergence between price and RSI also supports the bull case.
As for ADA, some deceptive signals recently made it appear bearish, including massive red 4-hour candle volume. However, @Cryptoinsightuk notes that drilling into the hourly chart shows most of that volume occurred on green, bullish candles.
ADA remains firmly in an uptrend, making higher lows and highs within a parallel channel. With open interest also cooling significantly, the analyst maintains his longer-term bullish outlook. The uptrend remains intact despite the consolidation.

In summary, both XRP and ADA are consolidating but could be on the cusp of major breakouts. For XRP, the crowded short positioning creates conditions ripe for a squeeze higher on a technical breakout. And ADA continues trending up within its channel, with bullish hourly volume overriding the bearish signals.
As leading altcoins with strong fundamentals, XRP and ADA remain attractive opportunities for traders despite choppy conditions recently. Their technical and on-chain setups position both cryptos well for potentially aggressive moves higher, once their consolidations resolve to the upside. Traders and investors may want to watch for the key breakouts to play out.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#RippleUpdate #cardano $XRP $ADA

QUICK TAKE

Bitcoin’s price has returned to the $28,000 mark after a few weeks #trading at the bottom of its recent range.

This comes as the U.S. President says a deal has been made regarding the debt ceiling.

The price of #bitcoin has risen to $28,000 after trading below this mark for the majority of May.

Since March, bitcoin has been trading in a range between $27,500 and just above $30,000. Since May 10, the coin has been in the lower half of this range, dropping as low as $26,000, according to CoinGecko. Yet a rally in the evening on May 28 has counteracted this.

Bitcoin price has steadily built up over the last few days. Image: CoinGecko.

As a result of largely bitcoin's efforts, the wider crypto market cap has grown from $1.19 trillion to $1.22 trillion — up 2.6% in the last 24 hours.

A few coins have followed in bitcoin's progress, with ether and #cardano

each up 5% and polygon up 9%. Recently hyped memecoin pepe remains flat at around the $0.0000014 mark.

The rising prices follow news that a deal has been made to solve the U.S. debt ceiling problem. The deal will push back the debt ceiling to Jan 1, 2025, according to Reuters. U.S. President Joe Biden said the deal takes the "threat of catastrophic default off the table."

The deal may come as no surprise to Tether CTO Paolo Ardoino, who said on The Block's The Scoop podcast last week that a debt default would be unlikely because of the extreme consequences that it would have.

It may, however, affect former Bitmex CEO Arthur Hayes' planning for the year. He said that the timing would be interesting if this deal was reached in the fall — something that would create a powder keg of a situation. But with a deal already in the works, perhaps this year will be a little less volatile.

source: theblock

image source: ai

#CryptoDailyDigest

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Technical analysis from the weekly timeframe provides a bearish price forecast for ADA.

The main reason for this is the rejection formed above the resistance zone at $0.41 (red circle). This is considered a bearish signal and often leads to significant downward movement.

Additionally, this is combined with the RSI indicator breaking below 50 (red symbol). By using the RSI as a momentum indicator, traders can determine whether the market is overbought or oversold to decide whether to accumulate or sell an asset.

If the RSI is above 50 and trending upward, the bullish side has an advantage, but if the RSI is below 50, the opposite is true. Therefore, the current drop below 50 is a sign of a bearish trend.

Technical analysis from the 6-hour timeframe indicates that the price of ADA has been declining below a descending resistance line since April 15th. This suggests a bearish trend until the price breaks above it.

Currently, ADA is trading just above a significant support zone at $0.36, formed by a horizontal support area and the 0.618 Fibonacci retracement level.

Furthermore, the price is currently trading very close to the confluence point between the resistance line and the horizontal support zone at $0.36. Therefore, an anticipated decisive move is likely to occur soon.

ADA/USDT 6-hour chart

In the event of a breakout, ADA could potentially move towards the 0.618 Fibonacci retracement level of the recent decline at $0.42.

However, there is a possibility of a downside move towards $0.3 if it breaks below. Due to the lack of decisive factors, both a breakout and a breakdown scenario are still possible.

* The article is for informational purposes only and is not intended as investment advice. Investors should conduct thorough research before making any decisions.

#cardano #ada #USDT

The ninth-largest cryptocurrency by market cap is leading in terms of blockchain development activity, according to analytics platform Santiment.
Santiment says that over a 30-day period, Cardano (ADA) is the top blockchain in terms of development activity with 502.57 GitHub commits over a 30-day period.
Smart contract blockchain Polkadot (DOT) and its canary test network Kusama (KSM) are in the second and third positions, respectively, both having 484.23 GitHub commits.
The peer-to-peer payments network Hedera (HBAR) comes in at number four, registering 353.67 GitHub commits.
The smart contract blockchain Aptos (APT), which launched its mainnet in October of 2022, lands at number five with 338.77 GitHub commits, followed by Status (SNT), a mobile browser and messenger designed to interact with Ethereum (ETH)-based applications, recording 335.87 GitHub commits.
The blockchain oracle Chainlink (LINK) and the interoperable blockchain Cosmos Hub (ATOM) take the seventh and eighth spots with 330.63 and 324.73 GitHub commits, respectively
Ethereum sits at number nine recording 287.67 GitHub commits, and derivatives trading-focused network Vega Protocol (VEGA) rounds off the list of the top ten blockchains by developer activity with 285.57 GitHub commits.

Santiment notes that it doesn’t count routine updates and uses “advanced methodology” to collect data for “true” GitHub commits only.
The analytics firm has previously said that heavy development activity centered around a crypto project is a positive indication that could mean developers believe the protocol will be successful or the project will soon be shipping new features. It also indicates that there is less possibility that the project is just an “exit scam.”
⚠️Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#cardano #ADA's $ADA

Altcoin Cardano’s (ADA) recent price movement paints a nuanced picture as it struggles with long-term resistance, also raising concerns about the sustainability of its upward trend. The failure to surpass a significant resistance level at $0.68 led to the formation of a notable bearish candle, prompting a reassessment of ADA’s trajectory.
Weekly Outlook: ADA Coin’s Journey
Altcoin ADA has remained within the $0.25 to $0.43 range since October 2022, covering a 59-week period. A breakthrough above this range was marked by a challenging bullish candle, indicating a potential shift in control towards the bulls and the start of a new long-term uptrend. Despite this optimistic outlook, ADA encountered resistance at the $0.68 level, casting a shadow over the continuous upward momentum.
The weekly Relative Strength Index (RSI) has fallen below the critical level of 70 and is trending downwards, signaling a potential decrease in bullish strength. As a result, the ADA price may be subject to further adjustments and could head towards the familiar resistance at $0.42.
Bullish Divergence Signals on the Four-Hour Chart
While the weekly analysis casts a cautious light on ADA’s direction, the 4-hour chart reveals some interesting bullish signals. Both the price action and the RSI indicator are displaying a notable bullish divergence, particularly after a period of intense selling pressure. The 4-hour RSI in the oversold region formed a bullish divergence coinciding with ADA’s bounce from the minor resistance zone at $0.46.

Navigating ADA’s Near-Term Trajectory
Altcoin ADA, while navigating the confusing terrain of resistance and potential corrections, the most reasonable scenario points to an adjustment towards the previous range’s resistance at $0.42. However, the presence of bullish signals on the 4-hour chart offers a nuanced perspective, suggesting a potential rise to $0.56 before continuing the broader downtrend.
Cryptocurrency markets’ dynamic nature advises ADA investors to monitor these fundamental levels and indicators for informed decision-making. The interaction between resistance levels, bullish signals, and overall market sentiment is likely to shape ADA’s near-term trajectory.
$ADA #ada #cardano

Cardano, one world’s leading blockchain platforms has hit a critical milestone with the completion of its Mithril mainnet beta launch. This achievement marks a crucial step forward in Cardano’s journey toward establishing a robust, secure, and scalable blockchain ecosystem.

Cardano gave the update in its weekly report, highlighting that the released mainnet network is now consistently generating new certificates and snapshots.

Mithril Performs Network Monitoring

As the mainnet beta launch progresses, the Mithril team said it remains vigilant in monitoring the network’s performance. This proactive approach is crucial to identify and address any potential issues swiftly, ensuring a smooth and seamless user experience.

Additionally, the team is gearing up to release a new distribution in the near future. This distribution is expected to bring further enhancements and optimizations to the Mithril protocol, building on the foundation laid by the successful launch.

A key aspect of the Mithril protocol’s development involves rigorous testing and benchmarking to ensure its robustness and scalability. Accordingly, the team has been hard at work on the development of a stress test instrument.

This tool will be critical in evaluating the aggregator’s performance under different settings, providing useful information about its capabilities and potential areas for improvement. Furthermore, the Mithril team has meticulously upgraded the Cardano node to version 8.1.2, demonstrating its dedication to maintaining a healthy network.

Unveiling Mithril’s Functionality

At its core, Mithril introduces a novel staking-based protocol, designed to revolutionize the way Cardano network nodes verify the legitimacy of blocks.

This innovation eliminates the need to download the entire blockchain history, significantly expediting the block verification process. Additionally, Mithril empowers network nodes to engage in decentralized decision-making, enabling them to participate in voting on protocol settings and updates based on their stake.

As the network’s nodes synchronize more swiftly, transactions become more secure, and governance becomes more democratic, Cardano’s potential to shine in the world of cryptocurrencies is expected to become increasingly evident.

While the future remains unpredictable, the addition of Mithril clearly positions Cardano’s ADA for continuous development and innovation, providing a glimpse into the intriguing possibilities that await.

#cardano $ADA

Cardano (ADA) is gaining attention after a recent update from Mango Way, suggesting a potential surge. Analysts predict a significant bull run, with prices potentially reaching $0.62.
Analysts are optimistic about Cardano’s performance, noting a 20% uptick since the last analysis. With strong upward momentum, investors are urged to remain focused amid market volatility. Seizing upcoming opportunities could lead to potentially life-changing gains.
Cardano’s Bullish Outlook: Technical Analysis and Potential Breakout
Key technical indicators signal optimism for Cardano, with bullish momentum gaining strength. Analysis reveals critical battlegrounds where price action is fiercely contested between bulls and bears.
Recent developments indicate a notable shift in momentum, with bulls gaining ground and sellers displaying signs of exhaustion. As Cardano approaches the crucial $0.68 level, investors anticipate a breakout that could propel prices to new highs.
The formation of a cup and handle pattern suggests a target range surpassing $1.16, with further upside potential extending to $2.15. Although a pullback may be imminent, the bullish trend remains intact, offering strategic entry points for savvy traders.
With key support levels around $0.59, investors are advised to seize potential buying opportunities and capitalize on Cardano’s upward trajectory. Despite fluctuations, Cardano’s recent surge to $0.62 demonstrates its resilience and potential for significant gains in the crypto market.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#cardano #ADA