The recent classification of some tokens including Cardano as a security by the Securities and Exchange Commission (SEC) has sent shockwaves through the cryptocurrency ecosystem. This unforeseen development could negatively impact Cardano's value, leading to price declines. As a result, investors have shifted their attention to Tradecurve's utility token, TCRV as its stage 3 token presale gains momentum.
Cardano (ADA) Holders Halt Selling Activity
Based on Santiment's Market Value to Realized Value (MVRV 30d) data, recent buyers of Cardano are currently facing significant unrealized losses. According to Santiment's chart, with Cardano prices at $0.33, investors who bought Cardano in the last month are experiencing approximately 13% unrealized losses. This 13% net-loss position may cause Cardano investors to halt selling, as they aim to limit their losses below 15%.
If these investors decide to refrain from selling in an attempt to manage their losses, their actions could trigger a price rebound for Cardano. Additionally, the gradual decrease in ADA Age Consumed indicates that long-term investors are reducing their selling activity. From June 5th to June 8th, ADA Age Consumed decreased by 77%, dropping from 53.05 billion to 12.28 million.
Cardano (ADA) Price Analysis, Is ADA a buy or sell?
Considering the factors stated earlier, there is a chance of Cardano's price recovering and potentially rebounding to $0.40 in the coming weeks. Investors may buy Cardano now in anticipation of the price rebound. However, IntoTheBlock's In/Out of The Money Around Price (IOMAP) data indicates that Cardano may encounter its first major resistance around the $0.34 mark. If bulls prevail, the token's price could soar above $0.38.
Conversely, if Carson drops below the critical $0.30 support zone, this will invalidate the bullish price prediction. According to CoinGecko, Cardano's price stands at $0.319212, a decline of 1.60% in the past 24 hours and 14.40% in the last 7 days.
Tradecurve (TCRV) Price Analysis, Is TCRV a Buy or Sell?
Despite Cardano facing price uncertainty, Tradecurve's utility token, TCRV, has soared from $0.01 to $0.015 during the month of May – a 50% price surge amidst the bullish market. Several factors have contributed to TCRV's price jump. One of them is the hybrid exchange platform Tradecurve is developing to rival centralized exchanges like Binance and Gemini. Tradecurve's platform will combine the features of centralized and decentralized exchanges, offering advantages from both markets.
The hybrid exchange platform stands out from the competition as it will enable investors to trade various assets, including forex, commodities, cryptocurrencies, CFDs, and stocks, using a single account. This means that you can access different markets on just one platform. The native utility token of the ecosystem has been enjoying increasing adoption as the platform becomes more popular. TCRV will give holders governance rights, staking rewards, and discounts.
Currently, the value of a single TCRV token is a modest $0.015, presenting an enticing investment opportunity for individuals seeking to diversify their market portfolio and expand their assets. With a potential 100x price surge on the way, this is the best time to amass the TCRV token.
Visit the links to get more information about Tradecurve and the TCRV token:
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