Market & Price Update (ADA on Binance)
1. cbADA Launch on Coinbase Base (June 26, 2025):
Coinbase launched cbADA, a wrapped ADA token on its Base network.
Price dropped ~3% after launch.
Trading volume rose ~10%, but mostly from selling.
Open interest up to $717M (↑1.5%) — bears dominate.
2. Binance Analysis:
ADA trading at $0.55–$0.56
Support: $0.50–$0.54
Resistance: $0.61 (EMA), $0.69 (SMA)
Short-term upside possible to $0.64 if cbADA adoption grows.
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💹 Live Stats (Binance):
Price: $0.55–$0.56
24h Change: –1 to –2%
Market Cap: $19.7B
Daily Volume: ~$600M
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🔍 Key Takeaways:
cbADA launch hasn’t helped ADA price.
Market still bearish (selling pressure, weak sentiment).
Watch key levels: $0.50–$0.54 (support), $0.61–$0.69 (resistance).
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🔮 What to Watch:
1. cbADA usage and DeFi activity on Base
2. ADA holding above $0.56
3. Breakout above $0.61–$0.69 = bullish signal