Category: Cryptocurrency

On May 4, 2025, the cryptocurrency market showcased a blend of optimism and caution, with significant movements across major digital assets and notable developments influencing investor sentiment.

CRYPTO WORLD AS OF MAY 4, 2025

Bitcoin Approaches $96K Amid ETF Optimism

Bitcoin (BTC) traded at approximately $95,523, experiencing a slight dip of 0.86% over the past 24 hours. Despite the minor decline, the leading cryptocurrency maintains a strong position, bolstered by ongoing discussions surrounding potential ETF approvals and institutional interest.

Ethereum and BNB Experience Minor Fluctuations

Ethereum (ETH) hovered around $1,831.95, marking a negligible decrease of 0.07%. Similarly, Binance Coin (BNB) saw a modest drop of 1.6%, trading at $589.32.

XRP Gains Momentum with Mastercard Endorsement

XRP remained steady at $2.20, with a slight decrease of 0.45%. The token garnered attention as Mastercard identified XRP as a key bridge asset in cross-border transactions, enhancing its credibility and adoption prospects.

Cardano (ADA) Shows Resilience

Cardano’s ADA token traded at $0.6918, reflecting a 4.34% decrease. Despite the dip, ADA’s recent developments and community engagement continue to support its long-term growth trajectory.

Sui’s DeFi Expansion Signals Potential Rally

Sui’s native token exhibited signs of a bullish breakout, driven by positive funding rates and a surge in DeFi asset integration. The platform’s growing ecosystem indicates increasing investor confidence and potential upward momentum.

Market Outlook

The global cryptocurrency market cap experienced a slight contraction of 0.9%, settling at $3.12 trillion. While major assets showed mixed performances, the market’s overall resilience and ongoing institutional interest suggest a cautiously optimistic outlook for the coming days.

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Cardano (ADA) is showing signs of a potential breakout as trading activity and ETF speculation fuel bullish sentiment across the market.

Cardano Price Targets $1.17 Amid Rising Volume and ETF Hype

Cardano is currently trading at $0.70, up nearly 40% from its April low. This steady price recovery has pushed ADA above key support levels, and analysts are pointing to a breakout in May if momentum continues.

Trading volume has been particularly strong, with ADA spot trades hitting $700 million on Thursday according to Coinglass. On April 25, volume spiked past $1 billion, reflecting heightened demand and active market participation. This surge in volume—paired with rising prices—often signals that more buyers are entering the market than sellers, a strong bullish indicator.

In the futures market, open interest has climbed to $782 million, significantly higher than the $576 million low seen in April. A funding rate of 0.65% shows that traders are betting on price increases and are willing to pay to keep their long positions open.

Technical analysis adds to the optimism. ADA recently broke out of a falling wedge pattern and confirmed a bullish inverse head and shoulders formation on its daily chart. If the current momentum continues, the next major resistance levels lie at $0.81, $1.17, and potentially $1.30.

Meanwhile, speculation over a Cardano ETF is intensifying. Bloomberg analysts have raised the odds of ADA receiving its own U.S. spot ETF to 75%, a move that could dramatically reshape investor sentiment and institutional adoption.

Still, some challenges remain. ADA has yet to reclaim its March highs, and on each approach to the $0.70 level, profit-taking has slowed momentum. Santiment data also shows a rise in the NVT ratio, indicating a high valuation relative to transaction activity—often a sign of overbought conditions.

While the outlook is promising, ADA’s next move will depend on sustained volume, market sentiment, and whether ETF approval speculation turns into regulatory action.

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