• Advertise with us
  • Pricing
  • Submit News
Instagram Twitter Facebook Telegram Youtube Linkedin
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
  • News
    • Price Analysis

    Main News

    • Crypto News
    • Bitcoin and BTC
    • Altcoin News
    • Security & Hacks
    • ICO & Token Sales
    • Interviews & Profiles

    Information

    • Press Release
    • Research Report
    • Regulations, Law & Policy
    • Community/Guest Post
    • Events & Conferences
    • Tutorials & Guides

    Market

    • Technical Analysis
    • Price Analysis
    • Cryptocurrency Price Prediction
    • DeFi (Decentralized Finance)
    • Mining & Staking

    Other Categories

    • NFTs & Digital Art
    • Opinion & Editorials
    • Tech Innovations
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
More
  • News
    • Price Analysis
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
Reading: Cardano’s 18.53M ADA Unlock Sparks Fear, Price Crash Ahead?
Share
Sign In
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
EdaFace Newsfeed > Latest News > Crypto News > Cardano’s 18.53M ADA Unlock Sparks Fear, Price Crash Ahead?
Crypto News

Cardano’s 18.53M ADA Unlock Sparks Fear, Price Crash Ahead?

vitalclick
Last updated: December 24, 2024 3:44 pm
5 months ago
Share
SHARE

Contents
Cardano (ADA) Token Unlock ScheduledADA Current Price and Potential ImpactCardano (ADA) Technical Analysis and Upcoming Level

ADA, the native token of the Cardano blockchain, appears to be struggling amid ongoing market uncertainty. Adding to the concerns, a recent update regarding Cardano’s token unlock has sparked fear among traders and investors about a potential price dip.

Cardano (ADA) Token Unlock Scheduled

Today, December 24, 2024, a crypto insights provider, Tokenomist, posted on X (formerly Twitter) revealing that the Cardano blockchain is set to unlock 18.53 million ADA tokens worth $16.37 million on December 26, 2024. 

The report further stated that this substantial token unlocks accounts for 0.05% of Cardano’s total circulating supply. With the recent token unlock, Cardano will have unlocked 85.44% of its maximum ADA supply.

ADA Current Price and Potential Impact

Based on the data, whenever a project unlocks its respective tokens, it typically creates inflows into exchanges, leading to selling pressure and a subsequent price decline. In the case of ADA, experts and analysts suggest that the token might face a price drop in the coming days.

At press time, ADA is trading near $0.93 and has experienced a price surge of over 8% in the past 24 hours.  However, during the same period, its trading volume dropped by 5%, suggesting that traders and investors are still apprehensive about a potential price decline, which might explain the lower participation. 

Cardano (ADA) Technical Analysis and Upcoming Level

According to expert technical analysis, ADA has been consolidating within a tight range of $0.86 to $0.97 over the past five trading days. The breakout from this consolidation zone could determine whether ADA will rally or decline in the future.

Source: Trading View

Based on recent price action, if ADA breaks out of the consolidation zone and closes a daily candle above the $0.98 mark, it is highly likely to rally by 25% to reach the $1.25 mark. Conversely, if ADA breaks down from the consolidation zone and closes a daily candle below the $0.85 level, it could decline by 12% to reach the next support level at $0.75. 

As of now, the sentiment across the cryptocurrency landscape appears to be recovering after notable price declines in recent days.

You Might Also Like

Ukraine Plans to Tax Crypto by 18%

Trump’s Plan to Eliminate the FDIC

LAST MINUTE: Trump Speaks Crypto Money Falling

Trillion -dollar giants say keep the bull, crypto coins are encouraged

SEC is ‘Very Interested’ in Crypto Staking, Requests Industry Insights Ahead of New Guidelines

TAGGED:CryptoNews
Share This Article
Facebook Twitter Email Print
Previous Article Binance and Founder CZ Demand Dismissal of SEC Case
Next Article Bitcoin Struggles to Reclaim $100K, Market Sentiments Remain Extremely Bullish-Will it Mark a New ATH at $110K?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Crypto Live Widget

Follow for Live Updates
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad imageAd image
Popular News
Cryptocurrency Regulation in Russia : Blockchain Development
Current Cryptocurrency Regulations in India
Explore Cryptocurrency Regulation in South Korea
2 Altcoins Win Trial
Claimed Bitcoin Inventor Craig Wright Gets Shocked in Court! His Assets Are Frozen

Company

  • Vision
  • Mission
  • LitePaper
  • Whitepaper
  • Core Values
  • Branding
  • Teams
  • Career Listing
  • FAQ
  • Welfare Donations

Products

  • EDA Token
  • Blockchain Literature
  • EdaFace Dex
  • EdaFace Mall
  • Listing Platforms
  • Newsfeed
  • NFT Marketplace
  • P2P Market
  • Scam Verification Centre
  • School of Crypto

Legal

  • Term of Use
  • Privacy Policy
  • Disclaimer
  • Listing T&C
  • Listing Platforms
  • Eda Token Policy

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

EdaFace

About US

EdaFace is a user interface aggregator that brings all the various functionalities of the crypto industry onto a single platform! You can advertise, launch and crowdfund your crypto project via EdaFace Launchpad and Newsfeed.

Contact us: support@edaface.com

Follow us

Instagram Twitter Facebook Telegram Youtube Linkedin

Copyright © 2022 – 2024. EdaFace is a product of Emerging Digital Age (EDA) Pty Ltd. All Rights Reserved.

Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.
EdaFace
Welcome Back!

Sign in to your account

Lost your password?