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Cardano: more questions than answers
$ADA is holding at $0.248, market cap at $9 billion, volume up 48% over the past 24 hours to $410 million. We're lagging 92% from the ATH of $3.10. DeFi TVL has dropped from $680 million to $133 million, with only $49 million in stablecoins on the network.
Whales: since April 19, wallets holding 100k–10M ADA have dumped around 80 million tokens, while the mega whales have accumulated 60 million. Open Interest has fallen from $490 million to $444 million, and the shorts-to-longs ratio is at 0.80 — everyone is anticipating a drop.
On May 24, there will be a vote on $38.9 million for the 2030 roadmap. If approved, the launch of Leios (scalability from 10–15 to hundreds of TPS, testnet in June) will follow. The SEC has classified ADA as a digital commodity, and CME has launched futures.
Betting on a breakout. $0.26 is the key level. Which side of $0.26 will we land on?
#ADA #Cardano #LeiosUpgrade #Voltaire
$ADA is holding at $0.248, market cap at $9 billion, volume up 48% over the past 24 hours to $410 million. We're lagging 92% from the ATH of $3.10. DeFi TVL has dropped from $680 million to $133 million, with only $49 million in stablecoins on the network.
Whales: since April 19, wallets holding 100k–10M ADA have dumped around 80 million tokens, while the mega whales have accumulated 60 million. Open Interest has fallen from $490 million to $444 million, and the shorts-to-longs ratio is at 0.80 — everyone is anticipating a drop.
On May 24, there will be a vote on $38.9 million for the 2030 roadmap. If approved, the launch of Leios (scalability from 10–15 to hundreds of TPS, testnet in June) will follow. The SEC has classified ADA as a digital commodity, and CME has launched futures.
Betting on a breakout. $0.26 is the key level. Which side of $0.26 will we land on?
#ADA #Cardano #LeiosUpgrade #Voltaire
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