Schlagwort: crypto business

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Cardano price prediction: are ADA bulls about to reclaim $1?

  • Cardano price rose 11% as the broader cryptocurrency market flipped bullish.
  • ADA rallied as Bitcoin broke above $94k and top alts jumped.
  • The technical picture suggests bulls could eye $1 in the short term.

Cardano (ADA) price is up as most altcoins gain amid a broader cryptocurrency market uptick.

ADA price has joined other top alts in riding a wave of bullish momentum, with its value climbing to above $0.70.

On Wednesday, April 23, Cardano’s price recorded an 11% surge. Volume rose more than 75% to over $1 billion.

The technical outlook is promising, and on-chain metrics point to growing confidence among investors.

With positive funding rates and increasing bullish bets, the question is whether ADA bulls can push the price back to the psychologically significant $1 mark.

On-chain data and ADA price outlook

On-chain data reveals a strong bullish bias for Cardano, driven by whale activity.

Whales have added to their ADA holdings significantly in the past month.

Major cohorts now hold over 12.67 billion, an accumulation spree that has come amid the latest price dip.

As whales capitalize on lower prices, boosting investor confidence, Cardano looks poised to explode.

Further supporting this optimism is Coinglass’s ADA long-to-short ratio, which stands at 1.06.

This is Cardano’s highest long-to-short ratio in over a month.

A ratio above one signals that more traders are betting on price increases, reflecting bullish market sentiment.

Funding rates also signal growing bullish momentum.

ADA’s funding rate flipped positive and now sits at 0.0096%, the highest since February 22.

In the market, positive funding rates, where longs pay shorts, typically indicate bullish sentiment as more traders anticipate price gains.

This contrasts with a negative rate, which would suggest bearish expectations.

The current positive rate, combined with rising open interest, underscores the growing confidence in ADA’s potential for a price recovery.

Can ADA break the $1 barrier?

From a technical perspective, Cardano’s price action is encouraging.

After finding support at $0.50 on April 7, ADA rallied 21% over the next two weeks. It now trades above the key level of $0.67.

If bulls maintain this momentum and break above $0.71, ADA could target the weekly resistance at $0.75, with $1 as the next major milestone.

The Relative Strength Index (RSI) at 56, trending above the neutral 50 level, further supports this bullish outlook.

Cardano price chart by TradingView

However, risks remain. A daily candlestick close below Monday’s low of $0.61 would invalidate the bullish thesis, potentially driving ADA back to the $0.50 support level.

The combination of whale accumulation, positive funding rates, and strong technicals suggests Cardano bulls are gearing up for a run at $1, but traders should remain vigilant for any signs of reversal.

The post Cardano price prediction: are ADA bulls about to reclaim $1? appeared first on CoinJournal.

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XRP price targets $3.00 as Trump’s Fed stance fuels crypto rally

  • Open interest jumps 20% to $3.89B in 24 hours.
  • RSI climbs to 58, signalling bullish momentum.
  • Risk remains if XRP loses $2.00 key support level.

Ripple’s XRP is gaining traction again, climbing steadily above the $2.00 mark after a volatile start to April. As of Wednesday, the token was trading at $2.26, buoyed by a renewed wave of risk appetite across crypto markets.

The upswing aligns with a broader shift in macroeconomic sentiment, driven in part by President Donald Trump’s softened stance on Federal Reserve Chair Jerome Powell and a fresh call for rate cuts.

The President’s pivot has sent ripples across asset classes, including Bitcoin, Ethereum, and Solana—bringing renewed optimism to the altcoin sector, with XRP front and centre.

Trump’s Fed policy pivot lifts risk sentiment

US President Donald Trump’s recent remarks—clarifying he has no intention of removing Fed Chair Jerome Powell—helped calm investor nerves.

Trump’s earlier criticism, which accused Powell of being slow to cut rates, had fuelled speculation of a shake-up at the central bank.

However, on Tuesday, Trump told reporters that the media had exaggerated his stance, stating, “Never did. The press runs away with things.”

Despite standing by his earlier concerns, Trump’s softened tone came alongside a renewed push for the Fed to lower interest rates.

That aligns with ongoing discussions around tariff negotiations, with the administration reportedly aiming for a temporary deal with China in the short term, followed by a comprehensive agreement within two years.

Markets responded positively. Bitcoin, Ethereum, and Solana posted intraday gains, reflecting the return of risk-on appetite. XRP also capitalised on the moment, continuing its uptrend and gaining technical strength near its short-term resistance levels.

XRP climbs above key moving averages

XRP’s price is holding firm around $2.22–$2.26, bolstered by support from both the 50-day and 100-day Exponential Moving Averages.

Source: CoinMarketCap

These indicators have acted as a confluence resistance zone, but XRP’s consistent testing of this level points to an attempt at a sustained breakout.

Momentum indicators are confirming the bullish bias. The Relative Strength Index (RSI) rose above 58 at the time of writing, heading towards overbought territory.

A continuation of this trend could allow XRP to challenge the descending trendline and make a run for the $3.00 psychological resistance.

Open interest and liquidations suggest trader confidence

XRP’s derivatives market data shows a clear tilt towards bullish positioning. According to Coinglass, open interest surged by over 20% in the past 24 hours to reach $3.89 billion.

That uptick confirms a renewed interest in the asset, with short positions liquidated to the tune of $8.46 million—vastly outpacing the $2.63 million in long liquidations.

The long-to-short ratio stood at 1.0243, indicating more traders are betting on continued upside.

Such a surge in leverage often raises the potential for short-term corrections. If profit-taking follows, XRP could revisit support levels. A confirmed close above the 50 and 100-day EMAs would be necessary to validate a longer-term breakout.

Caution if XRP slips below $2.00 support

If the bullish momentum stalls, XRP risks falling back toward its next key support level at $2.00. A break below this zone could invite further declines, potentially targeting the 200-day EMA around $0.96 and the $1.80 demand zone.

These levels remain crucial for maintaining XRP’s broader uptrend structure.

With macroeconomic sentiment shifting and Trump’s messaging turning less combative, XRP appears well-positioned to benefit from increased risk appetite in the short term.

However, confirmation through price action and technical closes above resistance will be essential before any sustainable push to $3.00.

The post XRP price targets $3.00 as Trump’s Fed stance fuels crypto rally appeared first on CoinJournal.

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Deepbook gains 75% in Sui-led rally: what’s fueling the surge?

  • Deepbook’s price has spiked 75% in the last 24 hours to lead top gainers across top cryptocurrencies.
  • The technical outlook suggests bullish momentum after a breakout above $0.21.
  • Growth in the Sui ecosystem as well as broader market sentiment may help DEEP price higher.

DEEP, the native token of DeepBook on Sui, has skyrocketed by 75% in the past 24 hours, riding the wave of a broader surge in Bitcoin and the Sui ecosystem.

As of this writing, the token is trading near $0.22, having hit a high of $0.23 after breaking through the key $0.21 resistance level. This explosive price action underscores growing investor confidence in DeepBook’s role as a foundational liquidity layer for Sui’s burgeoning DeFi ecosystem.

Why DeepBook’s price is soaring

Several factors are fueling the remarkable rally in DEEP.

First, DeepBook is solidifying its position as the backbone of Sui’s DeFi stack, providing a high-throughput, low-latency central limit order book (CLOB) for on-chain trading.

The recent v3.1 upgrade, announced on April 16, introduced permissionless pools, lower fees, and enhanced balance management, making the platform more accessible and cost-efficient for builders and traders alike. These upgrades have catalyzed increased user activity and trading volume on DeepBook.

Second, the overall growth of the Sui ecosystem is driving value accrual to DEEP. Sui’s total value locked (TVL) recently surpassed $2 billion, doubling from $1 billion in just three months, according to a January 2025 report.

As more liquidity flows into Sui, DeepBook captures a larger share of trading fees and governance influence, boosting the utility and demand for DEEP$DEEP.

Furthermore, integrations with prominent DeFi protocols like Cetus and Aftermath have funneled significant trading volume through DeepBook, further amplifying its impact.

DeepBook price outlook: What’s next?

As investors eye another layer 1 winner as did Solana, many are looking at the Sui ecosystem.

This shows through most metrics such as TVL, monthly decentralised exchange (DEX) volume and decentralised finance (DeFi) growth.

DEEP is emerging as a major attraction in this ecosystem. Its tier 1 exchange listings add to the buzz.

Deepbook price on CoinMarketCap

Looking ahead, the outlook for DEEP remains bullish, supported by both fundamental and technical factors.

The token’s ability to hold above key leveld signal strong buyer conviction. Meanwhile, the broader growth of Sui’s DeFi ecosystem provides a solid foundation for sustained momentum.

From a technical perspective, Deepbook price has managed a decisive reversal from its prior downtrend. With renewed buying interest signaling a shift in market structure, the breakout above $0.2 could provide the base bulls needed to go higher.

If DEEP can maintain its current trajectory, it could test the next resistance near $0.25 in the short term. However, traders should watch for potential volatility, as overbought conditions may lead to a temporary consolidation.

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MANTRA founder’s 150M OM burn proposal gets 81% support: can it spark a recovery?

  • Mantra CEO to burn 150M OM tokens to rebuild trust after the 90% Mantra price crash.
  • 81% of the community has backed the burn proposal.
  • While some are optimistic about the impact of the token burn, the OM price continues to struggle at $0.50.

After the dramatic 90% Mantra price crash on April 13, 2025, as a result of reckless liquidations, Mantra’s founder and CEO, John Patrick Mullin, has announced a bold plan to burn his personal allocation of 150 million OM tokens.

This move aims to rebuild trust in the Layer 1 blockchain focused on real-world asset tokenization.

While the April 13 crash wiped out over $5 billion in market capitalization in mere hours, Mullin’s commitment to burn tokens valued at approximately $82 million at current prices has stunned the crypto community.

Community overwhelmingly supports Mullin’s proposal

An X poll conducted by John Patrick Mullin has garnered over 8,900 votes, with over 81% of respondents backing the immediate burning of his tokens.

This strong endorsement reflects the community’s desire for decisive action to try and help the OM token recover.

According to the burn proposal, the tokens, currently being unstaked, will be sent to the network’s burn address by April 29, 2025.

The process ensures transparency and adherence to protocol rules.

Mantra is also exploring a larger burn with ecosystem partners, with discussions underway to incinerate an additional 150 million OM tokens.

This would total to 300 million tokens being burned, or 16.5% of the 1.817 billion total supply.

Such a reduction could significantly alter the token’s supply dynamics.

If successful, the total OM token supply would drop to approximately 1.517 billion OM tokens.

Potential impact of the proposed Mantra token burn

The burn is expected to impact Mantra’s tokenomics positively.

It will reduce the bonded ratio from 31.47% to 25.30%. Staked tokens will decrease from 571.8 million to 421.8 million.

This adjustment will boost the staking APR for remaining tokens.

Higher staking rewards could incentivize holders to lock up their OM. Reduced selling pressure might support price stability.

However, despite the announcement, OM’s price has remained stagnant, currently trading at approximately $0.5396, up by only 0.1% in the past 24 hours.

Following the burn announcement, the token saw a slight uptick to an intraday high of $0.5585 before quickly falling back to the $0.50 range.

Presumably, the ongoing unstaking process may be delaying significant price movement, while market skepticism persists after the crash’s shock.

Approximately 4 million OM tokens unlock every few weeks, and with 45% of the supply still locked, selling pressure could counteract the burn’s benefits.

The April 13 crash raised suspicions of foul play, with community members accusing the Mantra team of orchestrating a sell-off, claims that Mullin and investor Laser Digital firmly denied.

Can Mantra’s price recover in case of a burn?

Currently, OM’s price struggles to break above $0.55, especially with the ongoing unlocks and potential liquidations looming large.

Going by this, the market sentiment remains cautious, and the burn’s psychological impact may not fully materialize until it’s complete.

However, in the long term, the burn could lay a foundation for growth.

A 16.5% supply reduction is substantial, and coupled with staking incentives, it could tighten the circulating supply, leading to a normal supply-demand curve that could result in a hike in price.

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Bitcoin ETFs see biggest inflows since January on Monday

  • The ETF inflow coincided with a sharp move in Bitcoin prices, which reclaimed the $91,000 level.
  • Total inflows across Bitcoin ETFs reached $381.3 million on April 21.
  • RK 21Shares Bitcoin ETF (ARKB) captured the largest share at $116.1 million.

Bitcoin exchange-traded funds (ETFs) in the United States posted their largest single-day net inflow in almost two months, with April 21 marking the strongest session since January 30.

The ETF inflow coincided with a sharp move in Bitcoin prices, which reclaimed the $91,000 level for a brief window before retracing to around $90,000.

BTC ETF inflows on Monday

Total inflows across Bitcoin ETFs reached $381.3 million on April 21, with ARK 21Shares Bitcoin ETF (ARKB) capturing the largest share at $116.1 million.

Fidelity Wise Origin Bitcoin Fund (FBTC) followed with inflows of $87.6 million.

Grayscale, which had previously struggled with outflows after converting its Bitcoin trust to an ETF, showed signs of stabilization as its Bitcoin Trust (GBTC) and Bitcoin Mini Trust ETF (BTC) recorded combined inflows of $69.1 million.

BlackRock’s iShares Bitcoin Trust ETF (IBIT), the largest Bitcoin ETF by assets under management, drew $41.6 million, down from pre-weekend levels on April 17.

Other funds, including HODL and EZBC, contributed $11.7 million and $10.1 million, respectively.

The inflows return after a strong week for outflows

According to CoinShares’ latest report, the United States recorded total outflows of $71 million for the week, indicating that April 21’s activity was an outlier amid otherwise tepid sentiment.

In contrast, European markets maintained a more constructive stance toward digital assets.

Switzerland led the region with $43.7 million in net inflows, while Germany added $22.3 million. Canada also saw modest inflows of $9.4 million during the period.

CoinShares noted that overall digital asset investment products saw modest weekly inflows of $6 million.

Midweek, stronger-than-expected US retail sales figures triggered a sharp outflow of $146 million from digital asset funds, reflecting market sensitivity to macroeconomic data.

Bitcoin-specific products closed the week with net outflows of $6 million, despite the significant daily inflow figure on April 21.

Meanwhile, short Bitcoin products recorded their seventh consecutive week of outflows, with $1.2 million withdrawn, bringing total redemptions over the period to nearly 40% of assets under management.

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