The pitch here is selective privacy. The thing is, Hoskinson didn’t really say what “bigger” means here. Price? Market cap? Users? Network activity? It’s anyone’s guess.
ADA crypto price drops 4% as shorts take over
Has any of this done much for ADA’s price?
Cardano fell to $0.239 in a single hourly candle on the 2nd of October. That’s a reset of most of the day’s gains. Earlier, ADA tested at $0.26 before sellers pushed it back.
At press time, the RSI fell to 30.55, teetering at the edge of being oversold and well below its signal line at 51.59. The Chaikin Money Flow (CMF) also dropped to -0.10; more capital is flowing out of ADA than coming in.
Open Interest fell to about $258.6 million after the drop; some traders closed their positions. Meanwhile, Funding Rate was at -0.0103, so short sellers are now paying to hold their bets against ADA.
A short-term bounce isn’t off the table. But for now, bears have the upper hand.
Final Summary
- Cardano Foundation partners with Pacific Meta.
- ADA price drops; funding is negative and shorts took control.
