Connect with us

Market

Cardano (ADA) Price Stabilizes After Recent Whale Activity

Published

on


Cardano (ADA) price has surged 52% in the last seven days, but has seen a pullback of over 5% in the past 24 hours. Despite the recent rally, there are signs that the current uptrend might be losing momentum.

Indicators such as ADX and whale activity suggest that while ADA remains in a positive trend, its strength is weakening. This points to a critical phase where ADA will either find renewed momentum or face a potential reversal.

ADA Current Trend Is Still Pretty Strong, But It’s Losing Steam

The ADX (Average Directional Index) for ADA currently stands at 45.02, a drop from nearly 70 just two days ago. This decline in ADX indicates a weakening of the trend strength, suggesting that the previous momentum might be losing steam.

While ADA price remains in an uptrend, the decrease in ADX signals that the pace of the upward movement may be slowing down, even though the trend direction itself hasn’t reversed.

ADA ADX.
ADA ADX. Source: TradingView

The ADX is a technical indicator used to measure the strength of a trend, without specifying its direction. Typically, an ADX above 25 is considered a strong trend, while anything below that suggests a weaker trend.

With ADA’s ADX at 45.02, the trend is still quite strong, but the recent decline from higher levels suggests caution.

Cardano Whales Are Back

The number of addresses holding between 1,000,000 and 10,000,000 ADA remained stable from October through early November but started to grow again on November 8.

Since then, these large wallets have increased from 2,432 to 2,451. This surge in accumulation was followed by a stabilization phase between November 11 and November 13, indicating that the recent buying activity might have reached a plateau.

ADA Addresses Holding Between 1,000,000 and 10,000,000.
ADA Addresses Holding Between 1,000,000 and 10,000,000. Source: Santiment

Tracking these large addresses, often referred to as “whales,” is crucial because their buying or selling behavior can significantly impact ADA price.

The recent surge followed by stabilization suggests that while whales were accumulating ADA, driving a positive sentiment, they have now paused. This could mean that Cardano price may see a period of consolidation before the next significant move.

ADA Price Prediction: Can It Reach $0.80 In November?

ADA’s EMA lines are currently in a bullish setup, with short-term EMAs positioned above the long-term ones, which generally indicates an ongoing uptrend.

However, the price has now fallen below the shortest EMA line. That suggests that the strength of this uptrend might be fading.

ADA Price Analysis.
ADA Price Analysis. Source: TradingView

If the current uptrend regains strength, ADA price could test resistance levels at $0.62 and $0.67. If these are broken, it may potentially rise to $0.80—a price it hasn’t reached since March and representing a possible 50.9% increase from current levels.

On the other hand, signals from ADX and whale activity hint that the uptrend may be losing steam. If ADA’s bullish momentum fails and the trend reverses, support zones around $0.47 and possibly as low as $0.41 could come into play.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Market

Ethereum Struggles to Break Out as Bear Trend Fades

Published

on


Ethereum (ETH) enters the week with mixed signals as traders brace for tomorrow’s “Liberation Day” tariff announcement, a potential macro catalyst that could impact risk assets. While the BBTrend indicator remains deeply negative, it’s beginning to ease, hinting at a possible slowdown in bearish momentum.

On-chain data shows a slight uptick in whale accumulation, suggesting cautious optimism from large holders. Meanwhile, Ethereum’s EMA setup shows early signs of a trend reversal, but the price still needs to break key resistance levels to confirm a shift in direction.

ETH BBTrend Is Easing, But Still Very Negative

Ethereum’s BBTrend indicator is currently reading -11.66, slightly improved from -12.54 the day before, but still in negative territory for the second consecutive day.

The Bollinger Band Trend (BBTrend) measures the strength and direction of a trend based on how price interacts with the upper and lower Bollinger Bands.

A positive BBTrend suggests bullish momentum, with the price expanding toward the upper band, while a negative BBTrend indicates bearish momentum, with the price leaning toward the lower band. Typically, a value beyond 10 is considered a strong trend signal, making the current -11.66 reading a sign of continued downside pressure.

ETH BBTrend. Source: TradingView.

The persistent negative BBTrend suggests that Ethereum remains in a short-term bearish phase, with sellers still dominating the price action.

While yesterday’s slight uptick hints at a potential slowing of downward momentum, the indicator remains well below the neutral zone, meaning any reversal is still unconfirmed, despite Ethereum flipping Solana in DEX trading volume for the first time in 6 months.

Traders may interpret this as a warning to stay cautious, especially if ETH continues hugging the lower Bollinger Band. For now, price action remains fragile, and any bounce will need to be supported by a decisive shift in volume and sentiment to signal a meaningful reversal.

Ethereum Whales Are Accumulating Again

The number of Ethereum whales—wallets holding between 1,000 and 10,000 ETH—has ticked up slightly, rising from 5,322 to 5,330 in the past 24 hours.

While this is a modest increase, whale activity remains one of the most closely watched on-chain metrics, as these large holders often influence market direction. Whales’ accumulation can signal growing confidence in Ethereum’s medium—to long-term prospects, especially during periods of price uncertainty or consolidation.

Conversely, a decline in whale addresses typically suggests weakening conviction or profit-taking.

Ethereum Whales.
Ethereum Whales. Source: Santiment.

Although the recent uptick is a positive sign, it’s important to note that the current number of Ethereum whales is still below the levels observed in prior weeks.

This means that while some large holders may be re-entering the market, the broader whale cohort has yet to fully commit to an accumulation phase.

If the upward trend in whale numbers continues, it could support a bullish shift in sentiment and price. However, for now, the data points to cautious optimism rather than a decisive reversal.

Will Ethereum Break Above $2,100 Soon?

Ethereum’s EMA lines are showing early signs of a potential trend reversal, with price action attempting to break above key short-term averages.

If Ethereum price can push through the resistance at $1,938, it may signal the start of a broader recovery, potentially targeting the next resistance levels at $2,104, and if momentum builds—especially with supportive macro catalysts—increasing toward $2,320 and even $2,546.

ETH Price Analysis.
ETH Price Analysis. Source: TradingView.

On the flip side, if Ethereum fails to maintain its upward push and bearish momentum resumes, the focus will shift back to downside levels.

The first key support sits at $1,823; a break below that could expose Ethereum to further losses toward $1,759.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

Binance Megadrop Launches KernelDAO

Published

on


Binance Megadrop has announced its fourth project – KernelDAO (KERNEL), a restaking protocol supporting three key tokens Kernel, Kelp, and Gain.

Introduced in 2024, Binance Megadrop is a token launch platform that provides users with early access to promising crypto projects before their official listing.

KernelDAO and Binance Megadrop: Overview

KernelDAO is a restaking protocol that allows users to repurpose staked assets (such as ETH or BNB) to participate in other protocols, maximizing yield. The protocol launched its mainnet in December 2024.

The KernelDAO Megadrop event kicks off on April 1, 2025, and lasts for 20 days, rewarding participants with KERNEL tokens. Kelp, a KernelDAO component, manages over $1.15 billion in Total Value Locked (TVL) across 10 blockchains, including Ethereum and BNB Chain.

Kelp TVL. Source: DefiLlama
Kelp TVL. Source: DefiLlama

KernelDAO has a maximum supply of 10 billion KERNEL tokens. Binance has allocated 40 million KERNEL (4% of the total supply) for participants. Upon listing on Binance, the initial circulating supply will be 162,317,496 KERNEL (16.23% of the total supply).

After the Megadrop event, KERNEL will be listed on Binance Spot with trading pairs such as KERNEL/BTC, KERNEL/USDT, and KERNEL/BNB.

KernelDAO is the fourth project on Binance Megadrop, following Lista (LISTA) and Xai (XAI). Previously, Binance Labs invested in Kernel to build recovery infrastructure on the BNB Chain.

Binance’s inclusion of KernelDAO could contribute to the growth of the restaking sector. According to DeFiLlama, the total TVL of restaking protocols surpassed $15 billion in early 2025, with EigenLayer and Kelp leading the market.

With 40 million KERNEL tokens distributed through Megadrop, many participants may sell immediately after receiving their tokens, potentially creating downward price pressure. Additionally, increasing competition from protocols like EigenLayer could pose challenges for KernelDAO.

Additionally, not all projects listed on Binance have performed impressively. In 2024, Binance-listed tokens all fell, with 29 out of 30 tokens posting significant losses.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

Wintermute Sells ACT Tokens Due To Binance Limit Changes

Published

on


Market maker Wintermute sold off huge quantities of ACT and other BNB meme coins on April 1, tanking their prices by as much as 50%. Wintermute CEO denied intentionally selling these assets and started re-buying them.

Community sleuths believe that Binance is to blame, quietly lowering the leverage position limit for ACT and other tokens. This incident may cause further mistrust and uncertainty in a shaky meme coin market.

Why Did Wintermute Sell ACT?

A chaotic incident is currently unfolding in the meme coin sector. At the center of the story is Wintermute, a market maker that recently made headlines by interacting with World Liberty’s USD1 stablecoin before the official announcement.

Today, Wintermute has sold off large quantities of BNB meme coins, especially ACT.

Wintermute Sells ACT Tokens
Wintermute Sells ACT Tokens. Source: Arkham Intelligence

After Wintermute’s massive sell-off, the price of ACT subsequently fell 50%. This caused a stampede in other BNB meme coins, erasing millions of dollars and generating a lot of market chaos.

However, in a strange development, Wintermute’s CEO Evgeny Gaevoy denied deliberately causing the sale.

“Not us, for what it’s worth! [I’m] also curious about that postmortem. If I were to guess, we reacted post move, arbitraged the Automated Market Maker (AMM) Pool,” Gaevoy claimed in a social media thread.

This raised more questions than it answered. If Wintermute didn’t intend to sell off these ACT tokens and other meme coins, what triggered them? The firm even began buying ACT again after the sale. Subsequently, crypto sleuths started suspecting a quiet rule change from Binance, the world’s largest crypto exchange.

Both data from Lookonchain and analysis from 0xwizard, an important community leader for ACT, alleged that Binance was involved in the Wintermute debacle. Specifically, they claimed that the exchange quietly lowered the leverage position limit for ACT. This meant that market makers who held more positions than this limit were automatically liquidated at market price.

Naturally, these allegations caused a lot of outrage. Yi He, co-founder of Binance, responded, claiming that the relevant team is “collecting details and preparing a reply.” She further said that there might be another player involved but didn’t elaborate on this. This is not her first time responding to major criticism about Binance’s meme coin policies.

Ultimately, the dust is far from settled on this issue. Most of the impacted tokens are still substantially down from their positions yesterday, which is unfortunate in this fearful market. Between HyperLiquid’s short squeeze last week and this incident with Wintermute and ACT, overreach from crypto exchanges could damage market confidence.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io