ADA Trading Volume Explodes, Whales Pile In: ADA Price Surge to $2 Around the Corner?
Cardano (ADA) is seeing a massive surge in trading volume and significant whale accumulation, even as its price remained relatively stable.
Data shows a dramatic 63.84% jump in ADA’s 24-hour trading volume, reaching over $1.12 billion . Large ADA holders; whales, are actively increasing their stakes, adding over 50 million ADA just in the past 48 hours.
This buying spree followed an earlier whale purchase of 190 million ADA just the day before. But even with all this activity, ADA’s price hasn’t moved much, which begs the question if all this whale activity can push ADA’s price up.
Input Output Global (IOG), the company behind the Cardano blockchain, had announced that their Lace wallet is now multi-chain . So as it stays, Bitcoin is now integrated into the Cardano blockchain for traders adopting Lace wallet.
Cardano’s price is currently in a holding pattern, primarily trading between $0.69 and 0.75.
While the increase in whale activity and Lace’s new Bitcoin support are positive, the price of ADA has remained fairly flat. If the price breaks below the $0.69 support level, analysts suggest it might fall further, to around $0.57 or 0.60.
Technical indicators provide some context. The Relative Strength Index (RSI) currently sits at 46.14, suggesting neutral momentum. The Bollinger Bands (BB) indicate the next resistance level to watch is 0.76, with stronger resistance at 0.93. At the time of this report, ADA trades at 0.71, down 1% over the last 24 hours.
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Despite the recent price stagnation, signals suggest Cardano might break out soon. Current data indicates relatively low selling pressure on ADA, increasing the possibility of the price testing the resistance level at 0.75.
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Crypto analyst Ali Martinez shared the above chart pointing that if Cardano closes above 1.15 on the daily chart, it will confirm a bullish right-angled descending wedge pattern. This pattern suggests a potential significant price surge, possibly driving ADA up to the $2 mark.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Ripple to SEC: Enough With Confusion—Time for Clear Crypto Rules, Not Backdoor Regulation
Ripple has submitted a formal response to the U.S. SEC Crypto Task Force, urging the agency to clarify its approach to digital asset regulation. In a letter addressed to Commissioner Hester Peirce, Ripple criticized the SEC’s past leadership for creating confusion and called for a return to straightforward, lawful guidance.
Stuart Alderoty, Ripple’s Chief Legal Officer, shared the document on X, emphasizing the need for regulatory relief. He referenced the Bob Dylan lyric, “There’s too much confusion, I can’t get no relief,” arguing that the previous SEC administration used this uncertainty to justify enforcement actions against crypto companies.
Ripple asserts that the SEC oversteps its authority over most digital assets, arguing they don’t meet the legal definition of securities. The company maintains that it is Congress, not the SEC, that should establish rules for the crypto market.
The response strongly urges the SEC to offer clear and straightforward guidance rather than continue its “regulation by enforcement” approach.
Ripple also highlights the negative market impact of SEC enforcement actions. It points to the 2020 lawsuit against Ripple, which led to a 70% drop in XRP’s price, wiping out $15 billion in market value.
Following the lawsuit, many cryptocurrency exchanges delisted XRP, restricting access for U.S. investors. Ripple notes that similar price declines occurred with Solana, Cardano, and Polygon after the SEC took action against major crypto exchanges.
Related: Ripple’s SEC Victory: Appeal Dropped, But SEC Silence Leaves “Officially Over?” Question Hanging
Ripple’s letter implores the SEC to use the original Howey Test to define securities. This test requires an investment contract where profits are clearly expected to come from the efforts of a central party. Ripple argues that many digital assets, including XRP, do not fit this definition.
The letter also tackles the issue of staking and yield-generating crypto services. Ripple contends that returns generated by blockchain protocols should not be classified as securities, as these returns don’t involve a central issuer making specific investment promises.
Ripple supports Commissioner Peirce’s Safe Harbor proposal, which would give blockchain projects with a grace period to develop and become more decentralized before facing the full weight of securities laws.
The company also advocates for regulatory sandboxes—controlled environments where crypto firms can test innovations under limited oversight. Ripple points to countries like the UK, EU, and Singapore who have successfully implemented similar frameworks.
Related: Swift and Ripple in the News: Did a Premature Announcement Cause a “Hack” Claim?
Notably, Ripple plans to submit further responses to the SEC, particularly on custody-related issues. The company continues to push for legislative action, arguing that clear rules from Congress are the best path forward for the crypto industry.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
VeChain (VET) Sets Sights on $16 Trillion Tokenization Industry
VeChain, a Layer 1 platform for smart contracts, is positioning itself to capitalize on the burgeoning $16 trillion tokenization market projected for 2030. As revealed on an X post by Michaël van de Poppe, VeChain’s Renaissance initiative introduces two key upgrades aimed at driving sustainability and long-term value.
First, B3TR Token Incentives reward everyday eco-friendly actions with B3TR tokens, encouraging greater community engagement in sustainable practices. This aligns blockchain technology with real-world impact, promoting environmental responsibility through tokenized rewards.
Second, Deflationary Mechanics for VTHO enhance the platform’s utility token by introducing mechanisms that reduce its supply over time. This approach strengthens VTHO’s long-term value and sustainability, making it more attractive for holders. Additionally, VET stakers can expect higher annual percentage yields (APY), further incentivizing participation in the ecosystem.
Complementing these efforts, VeChain supports VeBetterDAO, a decentralized autonomous organization (DAO) focused on the tokenization of sustainable assets. By leveraging blockchain technology, VeBetterDAO fosters a community-driven ecosystem where individuals, businesses, and non-profits can collaborate on sustainability initiatives. Through B3TR rewards, it incentivizes participation and showcases the transformative power of tokenization in tackling global environmental challenges.
VeChain continues to push the boundaries of blockchain innovation with initiatives like its Marketplace-as-a-Service (MaaS) platform. As CNF reported in May 2024, VeChain launched its MaaS platform, a no-code solution designed to make creating, listing, and managing digital assets more accessible.
This platform encourages businesses and individuals to create “phygitals”, digital twins of physical items that bridge the gap between the physical and digital worlds. Additionally, it enables comprehensive tracking of product information throughout its entire lifecycle, ensuring greater transparency, authenticity, and trust.
By removing technical barriers and offering a user-friendly, no-code solution, MaaS democratizes blockchain technology, making it more accessible to a wider audience. This, in turn, speeds up adoption across multiple industries, from supply chain management and retail to art, collectibles, and beyond, paving the way for a more interconnected and efficient digital economy.
VeChain’s commitment to real-world applications is evident through its partnerships with major industry players. A notable example is Gresini Racing, a MotoGP champion team, which uses the MaaS platform to engage fans with exclusive digital collectibles. These include NFTs commemorating iconic moments and limited-edition merchandise, bridging the gap between sports and blockchain technology.
Beyond fan engagement, VeChain has made collaborations with Walmart China and BMW highlighting the platform’s role in enhancing traceability and trust in real-world asset (RWA) management.
Following the announcement of these initiatives, VET experienced a 2.7% drop in the past 24 hours, while gaining 4.8% over the past seven days, reaching $0.2531 . Despite a 30% decline in trading volume, the overall surge in value from it’s all time low suggests growing investor confidence in VeChain’s strategic direction.