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The Bitcoin NFT market continues to thrive after weekly sales hit $425.63 million.
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"Dogecoin Could Soar by 60% If It Successfully Breaks Through This Key Resistance Level"
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#Cardano founder Charles Hoskinson clarifies his proposal to convert a portion of ADA’s on-chain treasury into a multi-asset yield-generating fund. Hoskinson was recently interviewed by media personality David Gokhshtein to discuss his proposal to boost Cardano’s liquidity and DeFi ecosystem. Recall that Hoskinson floated a plan to convert approximately $100 million worth of ADA from the treasury into a mix of Cardano-native stablecoins and Bitcoin to earn a yield of up to 10%. He suggested that the yields would be reinvested in ADA and deposited into the treasury. However, several market commentators criticized his proposal. Some critics, like Anthony Pompliano, suggested that the Cardano founder intends to dump ADA for Bitcoin. Hoskinson Defends His Proposal During his recent interview, Hoskinson emphasized the importance of a multi-asset reserve. He mentioned that the Cardano ecosystem remains the largest holder of ADA, with 1.7 billion coins currently in its treasury. The Cardano founder estimated the current value at $1 billion, noting that it had previously reached an ATH of $5 billion. However, he claims the treasury is currently sitting idle without earning anything in return. “[The massive ADA] just sits there like a dragon on a big pile of gold,” Hoskinson remarked. He believes converting a portion of this idle ADA treasury into a multi-asset reserve would generate more yield. This influenced his proposal to convert $100 million worth of ADA into a mix of Cardano-native stablecoins and Bitcoin. Bitcoin Allocation Hoskinson proposed allocating 50% of the $100 million to Cardano-native stablecoins, potentially earning yields through lending and other DeFi activities. The remaining half, representing $50 million, will go into Bitcoin, hoping its price will appreciate in the future. He emphasized that combining these allocations will enable Cardano to earn yields, which will be reinvested in ADA and deposited into treasury. In his view, this strategy would help to boost Cardano’s stablecoin and TVL metrics. #Crypto
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"Peter Schiff Dismisses Bitcoin Hype—Says Silver Will Outshine Crypto in 2025!"
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"Ethereum Clings to $2,500 Support as Global Tensions Escalate!"
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#VeChain (VET) is holding near the $0.020 level amid bearish pressure. Will it break below $0.017 or bounce back toward $0.031? With a minor pullback among top cryptocurrencies, VeChain is holding its ground at the $0.020 psychological mark. Struggling within a falling channel, it risks a potential drop to crucial support at $0.017. VET Price Analysis On the daily chart, VeChain’s price trend reflects a decline forming a falling channel pattern as it reverses from the 38.20% Fibonacci level at $0.031. The declining bullish momentum has fueled a 40% drop in VeChain’s value in just over the past month. At present, VeChain trades at approximately $0.02099 after facing rejection from its 24-hour high of $0.02210. This has resulted in a long wick formation on the intraday candle, signaling a potential downtrend. Supporting the bearish outlook, the MACD and signal lines are trending downward within negative territory. Additionally, the daily RSI hovers between the oversold boundary and the midpoint, maintaining a bearish bias. Hence, momentum indicators project a bearish view for VeChain. Fibonacci levels suggest the immediate price target is $0.017, based on the year-to-date low recorded on April 7. However, a potential reversal leading to a channel breakout could retest the 38.20% Fibonacci level at $0.031 if the price exceeds the $0.024 resistance level. VeChain Derivatives As VeChain clings to psychological support, the derivatives market remains quiet, with traders mostly on the sidelines. CoinGlass data shows VET open interest has seen marginal growth of 0.04%, reaching $62.36 million. However, liquidation data reveal a wipeout of bullish traders worth $76,390 in long liquidations. In contrast, short liquidations were just $2,000, indicating that most wiped-out positions were bullish. This has lowered the long-to-short ratio to 0.9459 over the past 24 hours, indicating that active bearish positions outnumber long positions. #CryptoNews🚀🔥V
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