Cardano (ADA) Preparing for a Big Rally:
Cardano’s token is trading at approximately 1.07 USDT, marking a slight increase over the past 24 hours. Its recent Plomin hard fork solidified the network’s transition to decentralized governance under CIP-1694. Analysts predict that this upgrade will attract buyers seeking projects with strong community engagement and technical advancements.
According to historical price data, ADA has shown a pattern of strong rallies after 40%+ corrections. Analyst Ali Martinez has identified similarities between Cardano’s recent price action and its performance in 2021, when ADA experienced a massive rally after a similar correction. If the trend continues, Cardano could see its price surpass 6 USDT in the coming weeks.
Ethereum (ETH) Targeting New Highs:
, the second-largest cryptocurrency by market cap, is currently trading at 3,225 USDT. It recently experienced a consolidation phase after testing resistance at 3,500 USDT. However, analysts expect ETH to resume its upward trajectory, driven by increased adoption of Ethereum staking and renewed institutional interest.
Notably, large Ethereum holders now own 43% of the total circulating supply, signaling confidence in ETH’s long-term potential. Additionally, Bitcoin’s upcoming halving event and continued progress in Ethereum’s DeFi and NFT ecosystems are likely to boost ETH’s market performance. Analysts predict Ethereum will reclaim the 4,000 USDT mark by mid-2025, with some suggesting it could challenge new highs near 5,000 USDT next year.
BNB Open Interest Hits $1 Billion:
The price of $BNB
witnessed a strong recovery and analysts believe that it is due to the inauguration of President Donald Trump in the White House. Due to the buzz surrounding Trump’s possible pro-crypto policies, there has been an influx of new investors into the crypto market.
There has been significant trading activity on the Binance coin network with its BNB open interest rising to $1 billion due to massive demand. However, many traders believe that the BNB rally may be short-lived as the proportion of long positions has decreased, meaning more traders are expecting the BNB price to drop soon. BNB is trading at around $682.7, down over 1.1% over the past seven days, signaling bearish conditions for the project.
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