Cardano
Cardano (ADA) Price Recovery to $1 Unlikely As Whales Retreat
Cardano (ADA) price surged by 10% in 24 hours, showing signs of a potential bullish trend for 2025. The recovery follows late 2024 gains as broader crypto markets stabilize. However, reaching the $1 mark may face hurdles, with declining whale activity raising concerns. Bitcoin’s climb above $97,000 has boosted market sentiment, contributing to recovery. Cardano’s future momentum depends on growing investor confidence and reduced selling pressure from major holders.
Cardano Price Loses Momentum
The Cardano price has climbed above $0.90 after an 8.69% surge in the last 24 hours. The ADA price now trades at $0.957, marking a 5% daily increase. This growth aligns with a broader upward trend in the crypto market over the past week.
Cardano (ADA) has gained 10% over the last seven days, solidifying its position as the ninth-largest cryptocurrency by market cap. ADA is capturing investor attention ahead of the anticipated 2025 bull run.
ADA Holders Flee as Momentum Dissipates
ADA price retraced from its recent peak of $1.3264 as daily active addresses dropped to pre-pump levels seen before November 3. Despite only a 30% decline in price, the network has seen a sharp drop in investor engagement, highlighting a lack of sustained interest in the asset.
Network growth metrics, which spiked alongside the rally, have now slowed significantly. This suggests waning momentum and reduced confidence among ADA holders. The decline in daily active addresses signals that participation has weakened despite the asset’s relatively moderate pullback in price.
Whales Dump ADA as Momentum Fizzles Out
On December 11, the whale category holding 10 million to 100 million ADA possessed 12.15 billion ADA. Meanwhile, the whale group holding 1 million to 10 million ADA had 5.64 billion ADA.
This decline in holdings by significant ADA stakeholders signals bearish momentum for Cardano, as whale dumping often precedes price weakening.
Cardano Price Analysis & Targets
Cardano (ADA) price is gaining upward traction after consolidating near the $0.80 level. The cryptocurrency has moved towards $0.96, showing resilience despite a prolonged period of price stagnation.
The four-hour chart highlights clear resistance and support zones, offering critical insights into potential price movements. The immediate resistance stands at $1.00, which has historically served as a psychological barrier. Breaking above this level could pave the way for a test of $1.30. On the downside, the $0.80 zone acts as robust support, with $0.70 and $0.50 as secondary fallback levels.
The Relative Strength Index (RSI) has entered the overbought territory, currently hovering near 67. This suggests growing buying pressure, although the market might soon face a brief correction.
The Cardano price recovery shows promise, but declining whale activity raises challenges. Sustained investor confidence and renewed market participation will be crucial for ADA to break past the $1 resistance.
Frequently Asked Questions (FAQs)
$1 serves as a psychological and historical technical barrier for Cardano.
Declining whale activity signals bearish momentum and reduced investor confidence.
Key support levels include $0.80, with secondary levels at $0.70 and $0.50.
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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Cardano
Cardano Creator Charles Hoskinson Says Ethereum Might Not ‘Survive’ Next 10 to 15 Years – Here Are His Reasons
The founder of the smart contract platform Cardano (ADA), Charles Hoskinson, is warning that the future of Ethereum (ETH) could be in question.
In an Ask Me Anything (AMA) on his YouTube channel, Hoskinson says he doesn’t “think Ethereum will survive more than 10 to 15 years.”
According to Hoskinson, Ethereum faces existential threats both from within its ecosystem and externally.
“The [Ethereum] layer-2s will continue to suckle out all of the alpha and people will start fighting and it will get harder and harder for [Ethereum co-founder] Vitalik [Buterin] to be able to hold it together through sheer force of will.
And users will gradually migrate to other places and then they’re going to get eclipsed by Bitcoin DeFi (decentralized finance). Because once that turns on, the TVL (total value locked) will be larger than Ethereum and a lot of people will start migrating in that particular direction…
…and the other thing is they’re being eaten alive by Solana and Sui and these other things.
So, brilliant project. It’s just a victim of its own success. Like MySpace [social network] or any of these other things that have a lot of network effect and momentum. BlackBerry [smartphone] is another example. But people have fundamentally different paradigms that over the long term are intrinsically superior. And they creep up on you.”
The Cardano creator says that Ethereum’s problems can be traced to three mistakes made by the founders and developers.
“The number one problem Ethereum has is that they took an easy road out where they did three things wrong.
So first off, wrong protocols. They have the wrong accounting model, they have the wrong virtual machine and they have the wrong consensus model.
All of these were self-inflicted wounds. People told them not to do it, they did it and they got where they needed to go.
Second, what they chose to do to solve these problems is put in all these weird slashing economics and layer-twos and other things and now they’re living with all of the consequences of these types of things.
And third, they really don’t have a good on-chain governance system
So really what needs to happen is you need a parallel track with solving all those three things.”
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In the latest development in the blockchain space, Cardano founder Charles Hoskinson shared his thoughts on Ethereum’s potential demise, prompting a reaction from pro-XRP lawyer John Deaton.
Notably, Charles Hoskinson projected the Ethereum blockchain’s possible downfall, commenting that the platform would not survive over the next decade. Acknowledging Hoskinson’s Ethereum roots, John Deaton appreciated his comments as particularly noteworthy.
The Future of Ethereum: Insights from John Deaton and Charles Hoskinson
Recently, the Cardano founder, Charles Hoskinson, predicted that the Ethereum network will collapse in the next 10-15 years. He noted, “So, I don’t think Ethereum will survive, you know, more than 10 years to 15 years.”
In response to his words, XRP attorney John Deaton shared a thread on X. John Deaton acknowledged Hoskinson’s words as insightful and particularly significant, given Hoskinson’s foundational role in Ethereum’s creation.
Deaton also expressed curiosity about others’ thoughts on Ethereum’s future, humbly acknowledging the limitations of his own knowledge on the subject. His X post read,
Fascinating to listen to an Ethereum co-founder opine on whether Ether can even survive. I’m not smart enough to have an opinion one way or the other but would like to know what others think.
Why Ethereum Might Not Last 15 More Years? Charles Hoskinson Explains
In a recent Ask Me Anything (AMA) session yesterday, the Cardano founder expressed concerns about the long-term viability of the Ethereum blockchain. Highlighting the platform’s key mistakes, Hoskinson posited that Ethereum would not exist after some 15 years. This has sparked comments from John Deaton.
Hoskinson’s comments follow his revelations on Cardano’s plans to boost Bitcoin’s adoption in DeFi applications.
What Are Ethereum’s Three Mistakes?
Protocol & Consensus Model: According to Hoskinson, Ethereum’s choice of protocol and consensus model is not sufficient for the network’s needs. In particular, he mentions the current limitations of Ethereum’s Proof-of-Stake (PoS) mechanism.
Layer 2 Scaling Solutions: The Cardano founder slams the blockchain’s adoption of layer 2 scaling solutions, addressing them as “parasitic.”
Governance System: As per Hoskinson, the Ethereum network’s governance system is unsound. He pointed out that the platform’s governance is off-chain, but not on-chain, which could lead to inefficiencies in decision-making and adaptability.
John Deaton’s latest comments on the Cardano founder’s insights on Ethereum come following the former’s recent criticism of Oregon AG Rayfield. The XRP lawyer questioned the AG’s motivations for filing a lawsuit against Coinbase with outdated claims.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
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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Amid the market recovery, Cardano (ADA) has seen a 5% daily surge to retest the $0.66 level. Its recent price action has led the cryptocurrency to break out of a bullish formation, which could propel ADA to a key resistance zone.
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Cardano Breakout Eyes 27% Move
On Tuesday, Cardano followed Bitcoin’s price jump and climbed to the $0.66 resistance, attempting to break above the key level for the third time this month. ADA has been in a downtrend since hitting its 3-year high of $1.32 in December 2024, retracing over 50% in the past four months.
In March, the cryptocurrency surged 80% toward the $1.17 mark, driven by US President Donald Trump’s initial announcement of a “Crypto Strategic Reserve” comprised of ADA, XRP, and Solana (SOL).
However, after the White House’s Crypto Czar, David Sacks, explained that the listed cryptocurrencies were used as an example of leading tokens, ADA’s price retraced to the $0.70-$0.80 range.
Amid the late March retraces, Cardano lost the $0.70 mark, falling to the $0.50-$0-55 zone in early April. This month, the cryptocurrency has retested the $0.66 level but has been rejected twice.
Today, it attempted to break this level again but was rejected a third time. Nonetheless, analyst Ali Martinez pointed out that ADA has broken out of a symmetrical triangle pattern amid its current performance.
Cardano has been consolidating within a symmetrical triangle formation throughout April, setting the stage for a 27% price move. After surging above the $0.63 mark, ADA broke out of the pattern, eyeing a surge toward the $0.77 resistance next.
ADA Preparing For Key Retests
Analyst Sebastian noted that the cryptocurrency “is brewing,” as it’s moving within a four-month descending channel. ADA has bounced toward the upper boundary, which has served as resistance, each time it has retested the lower trendline as support.
After the recent drop to $0.50, Cardano could retest the upper boundary soon, at around the $0.80 price range. Moreover, the analyst pointed out that the token is currently breaking out of an Inverse Head & Shoulders pattern within the descending channel, which could see the cryptocurrency surge toward the key resistance level.
Another market watcher suggested that the cryptocurrency could be following its 2020-2021 pattern. According to the chart, once ADA broke out of its bear market rally levels, it reached a new cycle high, followed by a retest of the bear market rally as support.
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After breaking out of the downtrend, it rallied toward its all-time high (ATH) of $3.09 in the coming months. “If ADA broke out this week and followed the same pattern as last cycle, it would be on track to hit a new ATH in the middle of August,” the analyst asserted.
Meanwhile, Dan Gambardello affirmed that Cardano’s biggest resistance is at the $3 mark, “where a lot of people have regret for not selling last cycle.” The analyst forecasted that once ADA hits ATH levels, its pump “will probably pause in that general area with a lot of volatility, and then continue to $5. It’ll be like a crypto bus stop.”
Featured Image from Unsplash.com, Chart from TradingView.com
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