Wednesday, 17 April 2024

Crypto News

Cardano and Arbitrum fall by more than 20%, While BlockDAG Presale Jumps to $6.3 Million

ADA near key level as analyst says Cardano faces correction

  • ADA fell by 26% in the past two weeks, from a high of $0.77 to a low of $0.57
  • ARB recorded an even sharper 35% correction, from a high of $2.25 to bottom out at $1.45
  • By contrast, BlockDAG secured $6.3M of investment in its presale

The crypto market continues to trade in the red zone, with many altcoins facing corrections. Specifically, Cardano saw a significant 26% decrease in value over the past two weeks, leading to a cautious Cardano (ADA) price prediction. Similarly, Arbitrum’s price faces potential further declines due to an upcoming token unlock.

On the flipside, the presale market is booming, with BlockDAG (BDAG) emerging as a frontrunner as it clocked up $6.3M in its presale stages.

Cardano (ADA) Price Prediction: Is Correction Looming?

The launch of a new stablecoin, USDM, on the Cardano blockchain caused a surge in ADA’s price and an increase in network activity. Despite these gains, concerns persist due to a negative MVRV ratio and bearish MACD and MFI indicators, hinting at a potential price correction. However, decreasing volatility suggested by Bollinger Bands presents a complex outlook for ADA’s price rally sustainability.

Whales Transfer $58M in Arbitrum Tokens to Exchanges Following Unlock

Arbitrum (ARB) witnessed a significant token unlock on March 16, releasing 1.1 billion Arbitrum tokens worth $2.32 billion to its team, advisers, and investors. Following this, whales moved $58 million worth of Arbitrum tokens to exchanges, contributing to a price drop.

Despite the recent unlock leading to a nearly 23.42% decrease in ARB’s price, another unlock of 92.65 million tokens, valued at about $157 million, is scheduled for April 16, potentially affecting the token’s market further.

BlockDAG’s Viral Keynote

BlockDAG (BDAG) has surged in popularity among presales following the release of a viral keynote video, which debuted on the digital screens of Shibuya Crossing in the heart of Tokyo. Following the keynote debut, BlockDAG’s presale witnessed an impressive influx of over $6.3 million in investments.

The core offerings of BlockDAG include BDAG coins, a crypto payment card, and its X-series lineup of mining rigs. The BlockDAG payment card, accepted at over 38 million locations globally, allows users to spend their BDAG coins and other major cryptos like Ethereum, Bitcoin, and Solana for everyday purchases.


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