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What’s Inside the Cardano Foundation’s First Financial Report?

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5 months ago

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On Wednesday, the Cardano Foundation- a not-for-profit entity responsible for developing and maintaining the Cardano network- released its first-ever Financial Insights Report.

It detailed how it spent funds in 2023, totaling $19.22 million across operations, education, and adoption. Furthermore, the foundation spent another $4.55 million on its core operational expenses.

Cardano Foundation Invests $19 Million in Ecosystem Growth

The Cardano Foundation has just released its first Financial Insights Report for 2023, a milestone in its drive for transparency, integrity, and community engagement.

The report, along with the Activity Report published earlier this year, outlines how the foundation deployed its funds. It highlights the tangible value created across three focal areas: operational resilience, education, and adoption.

The Foundation’s 2023 Financial Insights Report reveals it invested $19.22 million in education, operational resilience, and adoption. Of this, $12.92 million was allocated to adoption, aiming to drive institutionalization and facilitate business integrations for utility.

As part of its adoption effort, the foundation released Alken, an open-source programming language to simplify smart contract development on the blockchain.

Other initiatives include optimizing rewards for SPOs and working with the United Nations and Switzerland for the ‘Global Climate Challenge’.

Year Ends with Nearly $500 Million in Assets

The 2023 Financial Insights Report from the Cardano Foundation shows key investments in leading industries, educating with a financial commitment of $4.18 million. These investments further support research and programs that have been instrumental in educating the stakeholders about blockchain technology.

The foundation invested $2.12 million in operational resilience, strengthening the blockchain infrastructure for institutional-grade use. These investments ensured the network operated without interruption for over five years. The University of Zurich tested the decentralized governance mechanism. Additionally, the Valentine hard fork enhanced interoperability.

The foundation also allocated $4.55 million to central operational expenses, expanding its capacity to support  key initiatives. Despite significant spending, the foundation closed the year with $478.24 million in assets. Of these, 82.5% ($394.54 million) was in ADA, 10.1% ($48.3 million) in Bitcoin, and 7.4% ($35.38 million) in USD liquidity.

Planning, the foundation projects to publish its Activity Report for 2024 at the end of the first quarter of next year.

ADA Price Explodes, Eyes $1 Target

The project has been developing gradually and organically over the past couple of years; its native token, ADA, has been performing excellently in the ongoing bull run. Over the weekend, ADA was an outperformer, almost doubling in price. The Cardano price has surged by 71% in the last week, breaking several key hurdles and forcing analysts to revise the token’s target at $1.

The rally is fueled by a spike in ADA whale activity. This indicates large investors are loading up on the asset. With such building momentum, market watchers are now looking will ADA break $1 this month, especially after its founder Charles Hoskinson hinted at a potential collaboration with Ripple, sparking excitement across the crypto community.

At the time of writing ADA price was up by 5.89% to $0.59.

 

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Teuta Franjkovic

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.

Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.

Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.

Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Holds $84K, ATOM & FIL Become Top Gainers

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4 hours ago

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April 4, 2025

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Crypto Prices Today (April 4): The broader market sentiment remains uncertain this Friday as Bitcoin (BTC) price held around the previous day’s levels, at $83K. Moving on to other metrics, the global cryptocurrency market cap jumped slightly by 0.20% to $2.6 trillion. The fear and greed index stood at 25, signaling a cautious sentiment in the market at the moment.

Major league altcoins like Ethereum (ETH) and Solana (SOL) also retained a trading session near the previous day’s levels in the interim. However, Cosmos (ATOM) and Filecoin (FIL) surfaced as the day’s top gainers by defying the broader trends.

Crypto Prices Today: BTC At $83K, Altcoins Resilient

Despite the broader market turmoil caused by Donald Trump’s announcement of reciprocal tariffs, crypto prices today have showcased resilience by preventing major downturns. After slipping to as low as the $81K mark, BTC price regained a hold above $84K today. ETH also faced heightened turbulence, although it maintained a hold above $1,800.

Conversely, ATOM and FIL tokens have defied the broader market trend to secure a spot among the day’s top gainers.

BTC Price Sits At $84K

At the time of reporting, the flagship crypto’s price chart indicated a roughly 1% increase in value and closed in at $84,211. Its market dominance was up by 0.09% intraday, reaching 62.01%. Notably, BTC has outperformed major league altcoins, as indicated by its market dominance.

Coinglass data further signaled rising market interest in the asset. Bitcoin futures OI jumped roughly 4% over the past day, reaching $54.61 billion.

Nevertheless, traders and investors reflect an uncertain stance over future price prospects as Trump’s tariffs have rattled broader markets globally. CoinGape previously reported that BTC is expected to mimic stock market actions amid global trade war tensions.

All eyes are now set on the next U.S. Fed meeting, as it could pave the way for a market sentiment shift.

ETH Price At $1,800

ETH price traded at $1,820 after recovering from $1,751 over the past day. The second-largest crypto by market cap boasted an evaluation of $220.35 billion.

Ethereum’s futures OI shot up by 3.5% to reach $20.68 billion, per the latest Coinglass data. This statistic indicated that the coin’s derivatives market is seeing heightened activity. Another buzzworthy update for Ethereum is that the Pectra upgrade is set to go live on May 7 next month.

XRP Price Jumps 2% & Defies Crypto Market Trend

Ripple’s coin XRP managed to gain over 2% despite the broader crypto market turmoil to reach $2.08. Its 24-hour bottom and peak were recorded as $1.97 and $2.10, respectively.

The latest buzz within the Ripple community remains Coinbase’s XRP futures listing. Notably, CoinGape reported that the crypto exchange behemoth filed an application with the CFTC for this listing.

On the other hand, the U.S. SEC’s recent closed-door meeting solidified the chances of an imminent settlement of the Ripple lawsuit.

SOL Price Today

Solana price hovered around the previous day’s levels and is trading at $119.27. Its 24-hour low and high were registered as $112.48 and $119.13 in the past 24 hours.

Intriguingly, Coinglass data revealed a 3% surge in Solana’s futures OI to $4.84 billion, underscoring burgeoning trading activity in the derivatives market. Solana’s market cap jumped nearly 1% from yesterday to $61.44 billion.

Recently, the U.S. SEC made a favorable approach toward crypto by acknowledging Fidelity’s SOL ETF filing.

Let’s take a look at the market’s leading gainers for the day.

Crypto Prices Today: Top Gainer

Cosmos (ATOM)

Price: $4.83
24-Hour Gains: +9%

ATOM’s price surged alongside a new trade offering unveiled by eToro recently. The social investing platform launched staking options for the crypto, paving the way for investor interaction with assets.

Filecoin (FIL)

Price: $2.95
24-Hour Gains: +8%

FIL price soars against the backdrop of its recent listing on S. Korean crypto exchange Upbit.

Pendle (PENDLE)

Price: $3.14
24-Hour Gains: +8%

PENDLE price soars alongside heightened whale accumulations, as reported by CoinGape recently.

Crypto Prices Today: Top Loser

Pi Network (PI)

Price: $0.5477
24-Hour Loss: -13%

Berachain (BERA)

Price: $5.81
24-Hour Loss: -10%

Toncoin (TON)

Price: $3.52
24-Hour Loss: -7%

Overall, the broader market sentiment remains uncertain amid macroeconomic heat. Crypto market traders and investors eagerly await major price action shifts.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Pi Coin Price Crashes 15%, Is Coinbase Listing Only Hope?

Published

5 hours ago

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April 4, 2025

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Pi Network’s native cryptocurrency Pi Coin price is down by another 15% today, slipping all the way to $0.55 and another 60% surge in daily trading volumes to $477 million. With this, the PI cryptocurrency has extended its weekly losses to more than 33% as investors are losing hope of any recovery to $1. As a result, the community is now pinning hopes on a Coinbase listing for any revival.

Will Pi Network Make Way to Coinbase Anytime Soon?

Although the Pi Network listing on Binance has faced multiple delays, the community is still hopeful for a Coinbase listing. On March 14—Pi Day—Coinbase’s Chief Legal Officer, Paul Grewal, posted a tweet featuring Pi’s logo, stating, “We take Pi Day very seriously at Coinbase.”

A Coinbase listing could provide a major liquidity boost, pumping up the Pi Coin price higher to $1 and beyond. The exchange often considers community engagement when adding new assets, making Pi Network’s 60 million+ user base a strong factor in its favor.

Additionally, such a listing could significantly boost PI cryptocurrency’s adoption in both U.S. and global markets. This would be a historic milestone for the ecosystem, increasing the visibility and accessibility to millions of crypto users worldwide.

While Coinbase stirs speculation, Binance has yet to make any official comments regarding a potential $PI listing.

Pi Coin Price Drop to $0.3 Coming?

As the Pi Coin price continues to lose crucial support levels, analysts are turning pessimistic about it moving ahead. Crypto analyst Moon JEFF has projected that Pi Network price could drop to $0.30 if exchange deposits continue at their current rate.

More than 375 million PI tokens have already moved to exchanges. Moon JEFF notes that with total supply reaching 500 million $PI, the token’s price could stabilize around $0.30. This is similar to our Pi Coin price prediction, which shows that altcoin to trade under $0.40 for the month of April.

Source: Moon JEFF

A Major Challenge for the Core Team

The Pi Community backlash is growing stronger with every passing day as the altcoin selling pressure increases. Popular community member Dr Altcoin stated: “Pi’s price has been in free fall, hovering around $0.5. If this was the end goal, why did the Pi community wait six years? Pi could have easily reached this value if it had launched in 2022”.

He further stated that major cryptocurrency exchanges are unlikely to list PI crypto unless the Pi Core Team (PCT) provides full transparency regarding its tokenomics. The two major challenges as highlighted by Dr Altcoin, are:

  • At current low prices, Pi holders may struggle to engage with decentralized applications (DApps) within the Pi ecosystem.
  • If these challenges persist, a significant portion of Pi users could sell off their holdings and migrate to other crypto projects.

The analyst added that the only viable path forward for the Pi Core Team, without relying on major exchange listings, is to burn billions of Pi coins from the Pi Foundation wallets.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Solana Price Drops 15% Amid $46M Whale Dump, Will SOL Recover Anytime Soon?

Published

8 hours ago

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April 4, 2025

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Solana price has extended weekly losses to 14% amid heightened selling pressure for the cryptocurrency. Whale data on Friday revealed that roughly $46M worth of SOL was unstaked and offloaded to exchanges in recent days. The outcome? Crypto market traders and investors are speculating if a recovery is even possible ahead as the broader market faces turmoil amid Trump’s reciprocal tariff announcement.

Solana Price Takes Bearish Turn Amid Rising Whale Dumps, What’s Happening?

As of press time, Solana price traded at $115.91, down slightly over 3% in the past 24 hours. The weekly chart for the crypto showcases a 14% decline, further accompanied by a monthly drop of over 18%. This waning action falls in line with the recent broader market trends and heightened selling pressure for the cryptocurrency.

Data from the tracker Lookonchain suggested that crypto whales are on a SOL dumping spree in tandem with the coin’s slumping action. Notably, 4 wallet addresses collectively unstaked and offloaded $46 million worth of coins in the past 24 hours, per whale data.

Here Are The Addresses & Amounts of SOL Dumped

  • ‘HUJBzd’ – $30.3 million worth of coins.
  • ‘BnwZvG’ – $9.47 million worth of coins.
  • ‘8rWuQ5’ – $3.53 million worth of coins.
  • 2UhUo1′ – $3 million worth of coins.

For context, usual market sentiments reflect bearishness in light of such massive dumps as the selling pressure for a crypto increases. Solana’s waning price action has contributed to investors’ cautious outlook toward the coin amid negative market dynamics.

SOL Price Faces Pressure Amid Broader Trends

It’s worth pointing out that SOL is currently facing immense heat due to broader macro trends presenting risk assets with uncertainty. CoinGape recently reported that Bitcoin price saw an offsetting movement with Donald Trump’s reciprocal tariffs commencement. In turn, even the altcoin market mimicked a bearish movement lately.

Another report revealed that BTC price is expected to follow the stock market action in light of the new reciprocal tariffs. Matrixport strongly asserted that the broader crypto market could potentially sustain volatility in the short run as BTC price is expected to mimic stock market movements.

Analyst Forecasts Bullish Outlook Despite Downtrend

However, a crypto market analyst named ‘Brandon Hong’ has conversely highlighted a bullish outlook for Solana price regardless of the broader turmoil. The analyst recently posted on X, stating, “SOL is about to have its biggest breakout ever.”

Solana priceSolana price
Source: Brandon Hong, X

This bullish anticipation rides the back of the coin about to break its 400-day range. “Buy now or regret later,” the analyst concluded, sparking contrary speculations. Crypto market participants continue to extensively eye the token for price action shifts amid uncertain dynamics.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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