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Here are the top three news stories presented to you by U.Today.
XRP: Not death cross but cross you might not expect
As could be seen on XRP's chart yesterday, the asset's short-term moving average has crossed the 50-day EMA, indicating a potential for short-term downward volatility. Such a crossover usually signals a shift in momentum rather than a complete bearish trend reversal. Unlike the traditional death cross, which typically points to the beginning of long downtrends, the 26/50 EMA crossover tends to highlight periods of consolidation or brief corrections prior to a possible recovery. While the crossover indicates a slowdown in bullish momentum, it does not necessarily predict a prolonged bearish phase; instead, XRP may engage in sideways trading until a clearer direction appears. If bullish sentiment returns, the asset could try to rise above the $2.35 resistance zone. XRP may even trigger another rally toward the $2.60-$2.70 range if it regains the 50-day EMA. However, if it fails to maintain the $2.09 level, it may lead to further consolidation around $2.00.
"We hold Bitcoin": Samson Mow reveals how his company earns
In a recent exchange on X platform, Samson Mow, a prominent Bitcoin advocate and CEO of JAN3, was asked about his company's revenue, or, to be exact, how it is generated. As a reminder, JAN3 focuses on accelerating hyperbitcoinization and offers various services, including the issuance of Bitcoin bonds and support for digital art and collectibles. Mow's response was laconic and eloquent: "We hold Bitcoin." Even though there is no public information regarding JAN3's Bitcoin reserves, reports indicate that the company holds 12 BTC, valued at approximately $1.15 million, following a significant investment round. With the purchase price for each BTC of approximately $83,333, it brings the profit margin of Mow's company to 15.56%, which translates to over $150,000 in just one month.
Cardano whales are buying more ADA, here's why price might skyrocket
Since Grayscale Investments' application for a spot ETF, all eyes are on Cardano and its native token, ADA. In addition to this, data from Santiment shows that whale activity has significantly contributed to the asset's recent growth. According to Santiment's reports, despite a decline in most altcoins, ADA's market cap saw an 11% increase, which highlights the importance of whales to the network. Santiment also noted that since late November 2023, wallets holding over one million ADA have continued a buying trend, accumulating approximately 1.41 billion ADA. This represents 2.35% of the total supply. During this accumulation period, there has been a visible impact on the coin's price; according to Santiment, since the whale accumulation began, ADA's price increased by 107%. At press time, ADA is trading at $0.7769, up 0.43% over the past 24 hours, per CoinMarketCap.
Tomiwabold Olajide
Godfrey Benjamin
Dan Burgin
Vladislav Sopov