📉 Cardano Gets Support from Coinbase, but the Market Doesn’t Believe in ADA?
On June 26, Coinbase introduced cbADA — a wrapped version of the Cardano token — on its Base network.
The goal? To bring ADA into the Ethereum DeFi ecosystem and improve liquidity.
But… ADA reacted with a ‑3% drop, despite the positive news 🤔
🔍 What’s going on?
cbADA is backed 1:1 with ADA held in custody by Coinbase
Trading volume increased by ~10% → selling pressure
Long/short ratio = 0.96 → most traders are betting on a decline
Balance of Power (BoP) = ‑0.18 → sellers dominate
Potential drop zone: $0.511
Possible recovery to $0.642 if demand appears
📊 Investors are disappointed — the news didn’t fix ADA’s fundamental weakness. The market expected a push — but didn’t get one.
❓What do you think, does ADA still have a chance?
🔘 Yes, time is on Cardano’s side
🔘 No, the project is losing trust
🔘 Let’s see how cbADA performs in DeFi
🔘 I’m holding without stress 😎