• Cardano (ADA) was trading at $0.411 last Sunday and fell by 12.2% to trade at $0.361 the time of writing
• The market structure was bearish on the lower timeframes but there was a 4-hour bullish order block that could spark a rally in Cardano’s price
• Open Interest has fallen alongside the price over the past few days and there has been some liquidation of long positions when Cardano dropped from $0.38 to $0.365

Overview of Cardano (ADA)

This article looks at how recent market movements have affected Cardano (ADA) and whether it is a good buying opportunity for investors. Last Sunday, ADA was trading at $0.411 and in the past week, the price has fallen by 12.2% to trade at $0.361 at the time of writing. The market structure was bearish on lower timescales but a 4-hour bullish order block laid an invalidation level for buyers which could spark a rally in Cardano’s price if they take advantage of it.

Market Structure

The 4-hour and 1-hour chart show that there are lower highs and lower lows over the past week as well as strong bearish momentum with RSI being 32.9 and OBV being in a downtrend for three days now; however, this is also a retest of the H4 bullish order block which ADA made earlier this month, providing buyers with an opportunity to reverse prices back up near its peak around $0.41 from earlier this month if they take advantage of it before prices drop below $0.345 which would invalidate such an idea according to this analysis .

Open Interest & Liquidations

Open Interest has decreased along with prices over the past three days indicating reduced long positions taken in ADA due to bearish sentiment; however spot CVD made higher lows while climbing signifying demand within markets while liquidation charts showed some long positions were liquidated on 24 February worth around one million dollars when ADA dropped from 0$.38 to 0$.365 in two hours .

Conclusion

Overall although current indicators point towards continued bearishness, those willing to risk potential losses can indeed use this opportunity presented by bullish order blocks to purchase ADA near its support level with potential upside should bulls manage push prices beyond their previous peak near 0$.41 before any further drops below 0$.345 invalidate such an idea .

Disclaimer

The information presented does not constitute financial, investment, trading or other types advice and is solely writer’s opinion

• Major VCs such as Dragonfly and Wintermute observed massive gains in their LDO portfolios over the last few months.
• The overall velocity of LDO declined, with whales losing interest in the token.
• Despite this, Lido’s revenue and unique depositors have seen an increase.

VC Funds Capitalize on LDO Token

Major Venture Capital (VC) funds such as Dragonfly and Wintermute have seen massive gains in their respective portfolios due to investments in the Liquidity Deficit Offering (LDO) token. Their portfolios grew by 39.2% and 17% respectively over the last month, with LDO making up a prominent part of their holdings. Paradigm fund, whose portfolio was almost entirely comprised of 90% LDO tokens, saw a 40% growth in the past month.

Whales Shy Away from LDO

Though VC funds are profiting from their investments into LDO tokens, investors should still proceed with caution. Over the last month, it has been observed that the overall velocity of transactions involving these tokens has decreased, indicating that whales are losing interest in them. However, new addresses continue to be attracted to these tokens as network growth increases.

Lido Rakes In Cash

The number of unique depositors on the Lido protocol has also increased according to Dune Analytics data – 123,840 depositors were present at the time of writing – which has resulted in a 32% increase in revenue for Messari’s data. This spike has contributed to an increase in its treasury funds which isn’t yet being put towards any upgrades or updates on its protocol as evidenced by declining code commits on GitHub.

Should You Invest?

Despite improvements seen within the protocol itself such as increasing revenue and number of unique depositors, on-chain metrics indicate that investors should be wary when investing into LDOs . If these treasury funds are invested into actual updates for its protocol however, future prospects may look brighter for both token holders and developers alike.

Check Out The Calculator!

If you’re looking for more information regarding your potential profits off LDOs then check out our very own Profit Calculator here!

• The Central Bank of the United Arab Emirates (CBUAE) recently launched its Financial Infrastructure Transformation (FIT) program to support digital transformation and financial services.
• The FIT program includes nine initiatives, including the launch of a Central Bank Digital Currency (CBDC).
• The CBDC will facilitate both domestic and cross-border payments, while other initiatives such as an eKYC platform and a card domestic scheme will improve regulatory compliance, reduce operational costs, enhance customer experience, and strengthen security and operational resilience.

Central Bank of the United Arab Emirates Launches FIT Program

The Central Bank of the United Arab Emirates (CBUAE) has recently launched its Financial Infrastructure Transformation (FIT) program with a vision to promote digital transactions and make the UAE a leader in financial services. H.H. Sheikh Mansour bin Zayed Al Nahyan serves as Deputy Prime Minister and Minister of the Presidential Court, as well as Chairman of the CBUAE’s Board of Directors for this initiative.

Goals Of FIT Program

The goals of this program include making digital transactions more efficient while providing better customer experiences. It also aims to reduce operational costs, improve regulatory compliance, and strengthen security and operational resilience throughout financial services in the UAE. This large project is set to be fully integrated by 2026 with nine key initiatives divided into three stages.

Stage One Initiatives

Stage one consists of three major initiatives: launching a Central Bank Digital Currency (CBDC), setting up an electronic Know Your Customer (eKYC) platform, and establishing a card domestic scheme. The CBDC will help facilitate both domestic and cross-border payments by addressing current inefficiencies associated with them while driving innovation for local payments within the region.

Stage Two Initiatives

The second stage includes developing several digital infrastructures such as a financial cloud, an Instant Payments Platform,and an open finance platform which will increase customer satisfaction along with better security measures for all customers using these services within the UAE region.

Conclusion

The Governor of CBUAE stated that they are proud to be building an infrastructure that supports growth throughout their country’s economy through this transformative FIT Program which was inspired by their wise leadership’s visions towards digitization .

• Ethereum’s DeFi Total Value Locked (TVL) is the highest in the market, but other chains have been outperforming it recently.
• TRON and Optimism have seen a significant increase in their TVLs over the last 30 days, while Ethereum has had difficulty keeping up.
• Scammers have also taken advantage of Ethereum’s network by creating fake wallets and using them to phish unsuspecting users.

Ethereum’s Slowing TVL

Despite planning a series of upgrades in 2023, Ethereum [ETH] has not had the best of starts to the year. Bar the altcoin fantastic rally like the rest of the market in January 2023, the network has been full of irregularities and dawdling. Notably, a fundamental bragging right has been its capability to house several decentralized applications (dApps). This same proficiency is why its DeFi Total Value Locked (TVL) is the highest. At press time, Ethereum’s TVL was valued at $28.99 billion. However, other chains in the DeFi ecosystem seem determined to outperform the second-ranked project in market value.

TRON and Optimism Outperforming ETH

A noteworthy competitor that has given Ethereum a run for its money is TRON [TRX], the Justin Sun-led project. In the last 30 days, TRON’s TVL increased 26.82% even though it still played second fiddle to Ethereum. In addition, the trendy Optimism [OP], whose aim is to scale the Ethereum ecosystem by using optimistic rollups, has also outperformed the Ethereum TVL. Despite being far below Ethereum’s worth, OP’s TVL increased 56.56%, according to DeFi Llama. An interpretation of this chart means that unique depositors have preferred to pump more liquidity into these chain over ETH . Also, both TRON and OP had seen an overall improvement in health when compared with ETH .

Scammers Targeting ETH Network

But it isn’t just blockchain which is at risk here – its users are too! On 7 February 2021 Peckshield Alert tweeted that two top spenders on Ethereum were actually scammers all along – they were using fake smart contracts wallets as part of a phishing scam designed to lure unsuspecting addresses into giving away private information or funds without their knowledge or consent!

How Much Are 1/10/100 ETH Worth?

How much are 1/10/100 ETHs worth today? As per CoinMarketCap data on March 9th 2021 , 1 ETH was equivalent to US$1 581 , 10 ETH equalled US$15 811 and 100 ETH equalled US$158 110 .

Conclusion

In conclusion , despite having one of highest DeFi Total Value Lock (TVL), it appears that competing cryptocurrencies such as TRON and Optimism are fast catching up with Etheruem . Additionally , scammers have been taking advantage of this situation by employing various phishing tactics against unwitting users . Finally , as per CoinMarketCap data on March 9th 2021 , 1/10/100 Etheruem was equalent respectively US$1 581 / US$15 811 /US$158 110 respectively

• A new report published by a court-appointed examiner has shed light on the operations of crypto lender – Celsius – before it declared bankruptcy.
• The investigation found that the business model advertised to customers was different from the actual operations of Celsius and that the crypto lender had been insolvent since its inception.
• The report also found that Celsius had been involved in price manipulation by buying CEL tokens to prop up its price, which enabled its insiders to benefit from the inflated value of the firm’s balance sheet.

A court-appointed examiner has recently released a report that reveals details about the operations of Celsius, a crypto lender that declared bankruptcy in July 2022. According to the report, the business model that Celsius advertised to its customers was not the same as what was actually being done. Furthermore, the report stated that the crypto lender had been insolvent since its inception.

In addition, the report found that Celsius had engaged in price manipulation in order to prop up the value of its CEL token. The crypto lender had purchased CEL tokens with the intent of increasing its price and its buying spree inflated the price of the token by 14,751% by June 2021. This inflated price was beneficial to the insiders of Celsius who held the token, as it increased the value of the firm’s balance sheet to $1.5 billion in December 2021.

The report also criticized Celsius for lacking transparency since its start. It claimed that instead of buying CEL tokens when needed to pay rewards, the crypto lender began timing its purchases to create activity in the market and even placed “resting” orders to buy CEL, which were triggered if the price of CEL dipped below a set amount.

The report is a stark reminder of how an unregulated industry can lead to problems for investors and customers alike. The report stated that Celsius had used customer and investor funds to prop up CEL’s price, which is a clear violation of trust and the law.

The report raises serious questions about the operations of Celsius and the industry as a whole. It is clear that more regulations are needed to protect investors and customers from similar scams in the future. The report also serves as a warning to those considering investing in crypto, as it shows the importance of researching a company and its operations before investing.