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Analyst Benjamin Cowen warns that Cardano (ADA) could face a significant sell-off if negative US economic data emerges, potentially dropping below $0.75. Currently trading at $0.95, ADA may follow a historical pattern, possibly dipping over 20% before rallying, similar to trends observed in January 2024.
The Cardano Foundation has launched a Venture Hub pilot program to support Web3 projects with personalized guidance and technical expertise, starting March 17, 2025. While the initiative aims to enhance visibility and growth for selected ventures, internal governance issues persist, with founder Charles Hoskinson criticizing the current board election process and lack of community representation in funding decisions.
Charles Hoskinson, founder of Cardano, clarified that ADA held by Input Output Global (IOG) is private profit, not "people's money," while the Cardano Foundation (CF) is responsible for ecosystem funding. Despite managing $2 billion, the CF previously rejected a $3 million USDC integration opportunity, facing criticism for slow adoption linked to stablecoin support. Challenges persist as stablecoin providers hesitate to engage with Cardano due to its limited dApps and transaction volume, although technical analysis suggests a bullish outlook for ADA in the near future.
Bitcoin's recent gains have slowed, with its price dropping to $94,198 and market cap dominance falling from 60% to 56%. This shift has sparked a potential altcoin rally, as the Altcoin Season Index reached a multi-month high of 53, indicating altcoins like XRP and Cardano are outperforming Bitcoin. Despite a slight pullback, Ethereum is gaining institutional interest, with positive ETF inflows, while meme coins like Shiba Inu also saw strong performance recently.
Cardano (ADA) and Dogecoin (DOGE) are poised to potentially reach a $100 billion market cap by Q1 2025. Cardano's growth is driven by the CIP-113 proposal and a surge in decentralized finance activity, while Dogecoin benefits from strong community support and whale accumulation. Both cryptocurrencies are attracting investor interest as they capitalize on favorable market trends.
Cardano (ADA) has shown bullish momentum, breaking above the $0.9750 resistance and aiming for targets of $1.25 or $1.32. After finding support near $0.7650, ADA has climbed past key resistance levels and is currently consolidating around $1.05. A move above $1.110 could lead to further gains, while failure to do so may result in a decline towards $0.9750.
A threat actor has stolen approximately $500,000 through meme coin scams via over 15 compromised X accounts, including those of notable figures. The attacker used targeted phishing emails disguised as X team communications to steal credentials, leading to account takeovers and fraudulent promotions.ZachXBT advises users to avoid reusing emails and to implement security keys for two-factor authentication on important accounts to enhance security against such attacks.
Cardano (ADA) is struggling to reclaim the $1 mark due to a significant sell wall of 4.3 billion ADA, which could hinder its price recovery. Currently trading at $0.87, ADA has seen an 18.16% weekly decline, with potential support expected between $0.659 and $0.834. Analysts suggest that if ADA breaks above $1, it could signal strong demand, with a long-term target potentially reaching $6 if historical patterns repeat.
Cardano (ADA) is experiencing significant price movements, currently trading at $0.88, with analysts noting a potential breakout to $6 if historical trends repeat. Key support is at $0.76, and failure to maintain this level could lead to declines toward $0.69 or $0.50. Upcoming developments, including the Plomin hard fork and governance evolution, are expected to bolster the ecosystem's long-term growth.
Large holders have accumulated 160 million Cardano (ADA) tokens after a drop to $0.91, indicating renewed confidence in the asset. Analysts view the recent 40% correction as a prime entry point, with predictions suggesting a potential rise to $1.2 in one month and $2.27 in three months. However, user engagement on the Cardano blockchain has significantly declined, raising concerns amid ongoing strategic developments by Input Output Global.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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