Cardano (ADA)

Cardano dropped 7.5% Wednesday but remains bullish long-term. Analysts think ADA can still hit $1 in 2024.

Cardano could rally 14% to $0.70 as its Total Value Locked remains elevated over $425 million after reaching an all-time high last week.

Cardano price prediction calls for an 18% decline to $0.46 unless bulls defend the 23.6% Fib level and 20-day EMA near $0.56 in the short term.

A fraudulent NFT scheme promising extra ADA rewards has scammed victims out of over 200,000 ADA, worth almost $130K, prompting warnings for Cardano users to avoid the scam website and transactions.

A $1.5 billion spike in Cardano whale transactions coincided with ADA’s 63% price increase in December 2023.

Cardano’s native ADA token added $1 billion in market capitalization in 24 hours, fueled by a 100% increase in trading volume to $750 million.

Cardano sees an increase in large transactions, indicating growing whale interest that lifts ADA prices across timeframes.

Though Cardano’s ADA has struggled to break key resistance levels in recent months, analysts remain bullish on major price gains in the coming weeks and months.

KPMG Canada partners with blockchain analytics firm Chainalysis to enhance capabilities in detecting and preventing fraud in the cryptocurrency sector.

Cardano’s Charles Hoskinson reached out to ousted OpenAI CEO Sam Altman on Twitter about collaborating to create a decentralized LLM on the Cardano blockchain.