Denis Mwirigi, Author at SCOOPIST

Cardano Faces Price Rejection Signaling Caution Ahead-What’s next for ADA?

Read Time:1 Minute, 4 Second

Cardano has faced price rejection around the $0.70 key resistance zone on its descending channel. Technical analysis hints at further downside if the bearish pressure persists.

Caradano has been flashing signs of strength in the past week as bulls hold strong in anticipation of ETFs’ approval. However, amid rising odds of ETF approval, Cardano bears could be taking charge as bulls get exhausted at the $0.70 zone. As of this writing, ADA has faced price rejection in this zone following a price uptrend in the past 48 hours.

Looking at the 3-day chart, Cardano has tested the $0.68-$0.71 resistance zone on its descending trendline. Following a price exhaustion, the bears are pulling back, changing the coin’s momentum. Technical indicators signal strong bearish momentum, as the MACD (12,26) and moving averages flash a “strong sell”.

With the Relative Strength Index at 43, Cardano is approaching the oversold zone and has potential for price reversal. However, according to crypto analyst Ali Martinez, if the bearish pressure persists, ADA could drop further to $0.63, eyeing the $0.54 support zone.

One should watch out for ADA’s fundamentals, buying volume, and technical indicators at this level for further insights.

About Post Author

partyushgoyal

https://scoopist.in

Happy

0 0 %

Sad

0 0 %

Excited

0 0 %

Sleepy

0 0 %

Angry

0 0 %

Surprise

0 0 %

Explore Crypto Exchange-Traded Funds (ETFs) and Their Role in Crypto Adoption

Read Time:1 Minute, 3 Second

Crypto ETFs are boosting crypto adoption and allowing traditional investors access to and invest in digital assets. So, what are Crypto ETFs?

Crypto Exchange-Traded Funds (ETFs) accelerate crypto adoption and market growth as traditional capital flows into digital assets. ETFs allow investors to buy into cryptocurrencies without handling private keys or wallet addresses. They exist in two main types: spot ETFs and futures ETFs.

Spot ETFs track the price of crypto Assets like Bitcoin and Ethereum directly, while futures follow contracts predicting future prices. They are issued by regulated platforms such as Charles Schwab and asset managers such as BlackRock, GrayScale, and VanEck. These firms allow traditional investors to buy Crypto ETFs similarly to Stocks.

How do ETFs Accelerate Crypto Adoption?

Crypto assets involve a lot of complexity in buying, transferring, and storing, besides security risks for new investors. They also require some technical understanding to safely store or trade on crypto exchanges.

Availability of ETFs minimizes the complexity for new investors or crypto enthusiasts with little knowledge about digital assets. They have allowed traditional investors to add crypto assets to their portfolios without deep technical know-how. Holding ETFs boosts investor interest in digital assets and advances crypto adoption as more investors gain exposure to them.

About Post Author

partyushgoyal

https://scoopist.in

Happy

0 0 %

Sad

0 0 %

Excited

1 100 %

Sleepy

0 0 %

Angry

0 0 %

Surprise

0 0 %

Kucoin BTC Reserves Plunge 77% After Mandatory KYC Announcement

Read Time:1 Minute, 5 Second

Kucoin exchange has seen its Bitcoin reserves drop by over 77% following a recent mandatory KYC requirement.

Kucoin, the Seychelles-based cryptocurrency exchange, resolved its criminal charges in January 2025, paying $3oo million in fines. This came after admitting to charges of operating an unlicensed money transmitting business while ignoring anti-money laundering protocols on its platform. The worst crypto hack of the year 2020 left Kucoin bleeding $281 million in losses after a major security breach.

As a result of these challenges, Kucoin is trying to improve its Know Your Customer (KYC) checklist. This will require gathering more information about its exchange users and their operations. On-chain data by Cryptoquant has revealed that the exchange’s reserves have dropped 77.6% following a mandatory KYC policy.

Bitcoin reserves have dropped from 18,300 BTC to 4,100 BTC, a 14,200 BTC outflow. This is a significant outflow from a major exchange in the crypto market.

The drop in BTC reserves suggests that users have been reacting to strict compliance requirements and could be shifting to cold storage or other platforms. This is because privacy concerns and custodial risks are major considerations for crypto investors and enthusiasts on crypto service platforms.

About Post Author

partyushgoyal

https://scoopist.in

Happy

0 0 %

Sad

0 0 %

Excited

0 0 %

Sleepy

0 0 %

Angry

0 0 %

Surprise

0 0 %

Ripple Donates $25M in RLUSD to Boost U.S Education and Financial Literacy

Read Time:49 Second

Ripple has pledged to donate $25 million in $RLUSD to support U.S education and nationwide initiatives focused on financial literacy.

Following its recent launch, Ripple’s dollar-pegged stablecoin, RLUSD, is finding its utility in mainstream educational initiatives, moving beyond crypto payments. In the past month, Ripple has portrayed impressive aggression to dominate the stablecoin market and advance crypto utility in everyday life.

According to recent reports, the company has pledged to support education in the U.S through classrooms, educators, and financial literacy initiatives. The donation will come in terms of RLUSD worth $25 million. This move could boost blockchain education, adoption, and bridge digital finance with practical applications.

How does this Impact Ripple and Crypto?

Ripple’s move is a message to the world that blockchain is beyond technology and is about people and financial freedom for all. This will also boost global perspective regarding crypto and blockchain adoption. For Ripple, this comes as a boost to RLUSD adoption boosting circulation.

About Post Author

partyushgoyal

https://scoopist.in

Happy

0 0 %

Sad

0 0 %

Excited

0 0 %

Sleepy

0 0 %

Angry

0 0 %

Surprise

0 0 %

Tokenized Assets Surge 10% Hitting $22B in 30 Days

Read Time:1 Minute, 0 Second

Tokenized real-world assets (RWAs) have surged 10.07%, hitting $22B, with a 5.5% increase in holders over the past 30 days.

The interaction of traditional finance and blockchain technology is steadily evolving. Over the past 30 days, tokenized real-world assets (RWAs) have seen substantial growth as institutions leverage the power of blockchains in a shift towards the digital economy. According to on-chain data by rwa.xyz, total asset holders have increased by 5,487 (5.5%), reaching nearly 100k. As a result, the market has grown 10.07%, hitting $22.04 billion in just 30 days.

The tokenized RWAs market has 189 issuers so far, signalling a heightened fusion of crypto and traditional assets. Private credit leads the rally with $12.9 B, followed by tokenized U.S treasuries and equities. The market has $231 B in stablecoins as institutional demand for on-chain assets rises.

The growth in the tokenized RWAs market over just 30 days suggests a spike in Blockchain technology adoption in mainstream finance. Market analysts have predicted that the tokenized RWAs could hit $19 trillion by 2033.

About Post Author

partyushgoyal

https://scoopist.in

Happy

0 0 %

Sad

0 0 %

Excited

0 0 %

Sleepy

0 0 %

Angry

0 0 %

Surprise

0 0 %

BTC Whale Wallet Shorts Market with $119.7M amid Bullish Momentum

Read Time:1 Minute, 8 Second

A Bitcoin whale has opened a bold $119.7 million short position amid BTC’s strengthening bullish momentum. What does this whale know?

Bitcoin is flashing signs of strengthening bullish momentum as institutions rush to accumulate the “digital gold” for their strategic reserves. Bitcoin maximalists and analysts have argued that BTC could cross the psychological $100k for the last time and might never drop below it again. Despite the BTC’s bullishness, a whale has caught the market’s attention after entering a massive short position.

BTC is trading at around $95,557 with a 16.61% surge in trading volume over the past 24 hours, at press time, per CoinMarketCap. According to On-chain data, the whale wallet has executed its $119.7 million short position using 40X leverage. The entry price is $95,381 with liquidation set at $102,340.

As Bitcoin’s price rises, the whale’s bet could signal a possible resistance ahead. This could mean an incoming bulls and bears battleground in the $95k-$102k range as BTC rallies in this zone. With the liquidation level set just 7% above the entry, this whale could be banking on BTC’s short-term pullbacks.

Traders are digging for insightful on-chain data and observing substantial market inflows for more clues, while retail sentiment remains bullish.

About Post Author

partyushgoyal

https://scoopist.in

Happy

0 0 %

Sad

0 0 %

Excited

0 0 %

Sleepy

0 0 %

Angry

0 0 %

Surprise

0 0 %

FTX to Pay Back $16 Billion in Cash to Creditors in May

Read Time:58 Second

FTX has announced a payment plan to give back $16 billion in Cash to its creditors beginning May 30.

The FTX exchange had a multi-billion-dollar market cap, with its native token FTT trading above $80 per coin until its downfall in November 2022. Considering its popularity in global transactions, the token was considered a utility token. The FTX collapse left exchange creditors with huge losses, opening recovery investigations in the United States.

However, in a recent anticipated payment plan, FTX’s bankruptcy team has confirmed repayments scheduled to begin on May 30, 2025. According to the plan, creditors could expect a recovery between 123% and 140% of their original claims. The payments are to be offered in cash instead of crypto, giving them a bonus and cash liquidity.

The $16 billion payout comes from the recovered assets and funds. Administrative claims, U.S and Dotcom users can expect full refunds. Some institutions could see higher returns. Following such a dark moment in the crypto market, crypto regulation is continuously improving to make the space safe for investors globally.

About Post Author

partyushgoyal

https://scoopist.in

Happy

0 0 %

Sad

0 0 %

Excited

0 0 %

Sleepy

0 0 %

Angry

0 0 %

Surprise

0 0 %

Ethereum ICO Whale Dumps $4.5M ETH amid Institutional Buys

Read Time:59 Second

A major Ethereum ICO investor has offloaded $ 4.5M in ETH while BlackRock buys $20M worth of ETH, sparking mixed reactions in the market.

An early Ethereum initial coin offering(ICO) investor has made a surprising market move, leaving crypto investors with mixed reactions regarding ETH and his motives. According to On-chain data, the wallet sent 1,500 ETH ($2.76M) to the Kraken exchange. Previously, in the same 24-hour period, the whale wallet had transferred another 1,000 ETH ($1.83M), signalling significant offloading.

The market has reacted to the whale wallet’s moves with mixed reactions. Having been an early ICO investor, traders question his motives, considering BlackRock has bought 11,000 ETH worth over $20 million in the same period.

BlackRock has been growing its Ethereum fund while other institutions like Trump’s World Liberty Financial believe in Ethereum’s rebound following a historical dip in Q1, 2025. So, does this early investor lack confidence in ETH’s bounce-back while institutional buying starts? Traders are closely watching ETH’s price at the $ 1800-1850 resistance zone to understand its next moves.

About Post Author

partyushgoyal

https://scoopist.in

Happy

0 0 %

Sad

0 0 %

Excited

0 0 %

Sleepy

0 0 %

Angry

0 0 %

Surprise

0 0 %

Arizona Governor Katie Hobbs Vetoes Strategic Bitcoin Reserve Legislation

Read Time:58 Second

Arizona Governor Katie Hobbs has vetoed the anticipated Bitcoin reserve legislation, halting the state’s plans for crypto investment.

Arizona is the first U.S. state to pass a strategic Bitcoin reserve legislation. Following the Senate’s approval of investing state retirement funds in Bitcoin reserves on 28th of April, 2025, the bill has been awaiting the governor’s sign. In a turn of events, Arizona Governor Katie Hobbs has put a roadblock on the bill, citing that Bitcoin is a “virtual currency”.

According to the official letter, Katie Hobbs responded;

Today, I vetoed Senate Bill 1025. The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments. Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currency

Following this veto, crypto enthusiasts and Bitcoin maximalists have expressed mixed feelings. Some crypto analysts are surprisingly trying to estimate the projected losses that await Arizona state in the coming years, if Bitcoin reserves face complete rejection.

As legislators remain resilient in their decisions, the market anticipates positive approaches in the coming months while monitoring committee stages in other states.

About Post Author

partyushgoyal

https://scoopist.in

Happy

0 0 %

Sad

0 0 %

Excited

0 0 %

Sleepy

0 0 %

Angry

0 0 %

Surprise

0 0 %

TRON TRX Eyes Breakout while THIS Pattern Suggests a 15% Rally

Read Time:1 Minute, 11 Second

TRX is testing a key resistance zone on its bullish pennant pattern, eyeing a 15% rally post-breakout.

TRON (TRX) is catching the market’s attention following its listing as the 10th largest coin by market cap on CoinMarketCap’s cryptocurrencies list. In the past 24 hours, TRX has surged 1.25% with a 4.87% increase in its open interest. Per Coinalyze data, the Coin’s 24-hour long-short ratio stands at 2.27, suggesting heightened buying pressure.

Looking at the 4-hour chart, TRX’s price is consolidating in a bullish pennant pattern. This technical step up indicates a calm balance between sellers and buyers following a price uptrend. As of press time, TRON is trading at $0.2480 and attempting a breakout above the $0.2500 resistance zone.

According to renowned analyst World of Charts, a breakout above the resistance zone could see TRX rally 15% towards the $0.2800 and beyond in the short term. The MACD(12,26) is flashing a “sell” signalling some bearish pressure.

However, the short-term, mid-term, and long-term moving averages flash “strong buy”. With the Relative Strength Index (RSI) standing at 53 (neutral zone), TRX is not overbought and has more buying potential. TRON could be geared up for a rally soon, and traders are closely monitoring its price action at the resistance zone.

About Post Author

partyushgoyal

https://scoopist.in

Happy

0 0 %

Sad

0 0 %

Excited

0 0 %

Sleepy

0 0 %

Angry

0 0 %

Surprise

0 0 %