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The post Cardano (ADA) Price Prediction For November 2024 appeared first on Coinpedia Fintech News

Besides an impressive gain of over 43% in the past week, Cardano (ADA) is poised to continue this upward rally in the coming days, as it has formed a strong bullish price action pattern on its daily time frame. With this bullish price action, heightened participation from traders and investors has been observed.

Whale Activity: Large Transaction Volume Jumps 42%

According to the on-chain analytics firm IntoTheBlock, the large transaction volume on ADA has jumped by 30%, indicating strong participation from whales and institutions following bullish price action and suggesting a strong buying opportunity.

Source: IntoTheBlock

In addition to the increased transaction volume, daily active addresses have soared by 42%, signaling heightened activity and participation from traders and investors, as the price is poised for an impressive rally.

ADA’s Rising Open Interest 

Besides whale activity, traders are aggressively participating in altcoins. According to recent data from the on-chain analytics firm Coinglass, ADA’s open interest (OI) has soared by 5.76% in the past 24 hours and 3.15% in the past hour. This growing OI suggests strong trader participation over the past four hours, contributing to the upside rally.

Source: Coinglass

Both pieces of data from the on-chain analytics firm hint at a perfect buying opportunity and a potential rally.

Cardano (ADA) Technical Analysis and Upcoming Level

According to expert technical analysis, ADA has broken out from a strong resistance level of $0.77 and has recently closed a bullish hammer candle above that level. Based on the recent price momentum, if the ADA price breaks the previous high of the daily candles, there is a strong possibility it could soar by 20% to reach the $1 level in the coming days.

Source: Trading View

However, before the altcoin witnessed a breakout, it went through a five-day consolidation, which traders and investors viewed as a bullish sign for upside momentum. Historically, whenever an altcoin breaks out from a consolidation zone, it rallies significantly. This time, traders and investors expect similar upside momentum in the coming days.

Current Price Momentum 

At press time, ADA is trading near $0.83 and has experienced a price surge of over 3.84% in the past 24 hours. During the same period, its trading volume dropped by 30%, indicating lower participation from traders compared to the previous day.

Believers in Ethereum (ETH) could be on the verge of an opportunity, according to Ki Young Ju, the founder and chief executive of the digital asset analytics firm CryptoQuant.

Young Ju tells his 370,400 followers on the social media platform X that the ETH/Bitcoin (BTC) Net Unrealized Profit/Loss level just hit a four-year low.

“Despite Ethereum’s underperformance against Bitcoin, ETH holders endure losses without realizing them. This mirrors levels from its early 2020 bottom.

This might be an opportunity for ETH believers.”

Source: Ki Young Ju/X

Young Ju also notes that ETH is becoming less correlated with BTC.

“The 180-day BTC-ETH Pearson correlation is at a three-year low. A 10% rise in Bitcoin could result in only a 3% gain for Ethereum.

Just because BTC is strong doesn’t mean you should buy ETH. Each asset is now following its own path.”

Source: Ki Young Ju/X

Young Ju isn’t the only crypto analyst who’s bullish on Ethereum: Former Goldman Sachs executive Raoul Pal also thinks ETH is primed for big gains.

The Real Vision CEO says ETH’s current chart is playing out similarly to Bitcoin’s between 2011 and 2019.

“Ethereum now versus the previous periods is following the last in Bitcoin. Now whether it gets to the target here of $20,000/ETH, who knows. Doesn’t really matter. But directionally, we’ll see what happens. ETH should accelerate from here, and I’m pretty confident that it will.” 

ETH is trading at $3,054 at time of writing. The second-ranked crypto asset by market cap is down more than 1% in the past 24 hours.

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The post Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO appeared first on The Daily Hodl.

We dive into the most significant takeaways from Microsoft Ignite, and Microsoft’s emerging leadership in the area of AI agents.Read More

Donald Trump is reportedly considering Chris Giancarlo, the former chairman of the Commodity Futures Trading Commission (CFTC), for the White House’s first crypto administration role.

A popular advocate for digital assets, Giancarlo has been a key member of the Trump transition team since his election victory on November 5.

Trump Eyes Chris Giancarlo for White House Crypto Regulatory Council

While campaigning, President-elect Donald Trump vowed to establish a regulatory council for cryptocurrencies and dismiss SEC Chairman Gary Gensler. Due to these pro-crypto promises, his election into office triggered the ongoing bull cycle.

However, Trump’s pro-crypto moves have already started to materialize even before he takes office at the end of January 2025. Earlier today, Gensler announced his resignation, after his four-year tenure as the SEC chair.

Now, Trump is considering the first-ever crypto advisory role within the White House, and Giancarlo is potentially a frontrunner candidate, according to FOX Business.

“With respect to the idea of a Crypto-Czar at the Whitehouse, I feel the role needs to be filled with someone who is neutral, works with all the protocols, and has a deep understanding of why crypto is special as well as what the US government under Biden has done wrong,” Cardano founder Charles Hoskinson wrote on X (formerly Twitter).

Rumors of candidacy sparked much support online, where his fans were eager to see Giancarlo back in administration. The financier has been a longtime advocate of crypto, embracing the ‘Crypto Dad’ nickname in his book ‘The Fight for the Future of Money.’

During his tenure at CFTC from 2017 to 2019, Giancarlo was an outspoken advocate of cryptocurrency. At a 2018 Senate hearing, he pushed for establishing a CFTC cross-border framework to support blockchain and virtual asset developments. After leaving the role, he founded the Digital Dollar Project.

In his role, Giancarlo helped establish criteria for declaring Bitcoin and Ethereum as commodities rather than securities. He was also a persistent advocate of XRP. Throughout Ripple’s heated legal war with the SEC, he argued strongly for the company’s interests in the public sphere.

“Wall Street meets crypto wilderness: Giancarlo could be the regulatory lumberjack we never knew we needed to clear the blockchain forest of wild speculation,” one user added.

However, Trump has allegedly been consulting multiple rainmakers in the space to poach the best man for the job. Other rumored candidates include David Bailey, CEO of BTC Inc., and Brian Morgenstern, public policy chief at Riot Platforms. Both individuals helped raise significant funds for Trump’s campaign.

The post Crypto Dad to Crypto Czar: Chris Giancarlo May Be Trump’s Leading Candidate appeared first on BeInCrypto.

Most top mattress brands have already gone live with their holiday sales… with one big exception.

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The Justice Department’s proposal to resolve its antitrust case over online search against Google reportedly would force the tech giant to unwind its partnership with artificial intelligence (AI) company Anthropic.

A recommendation in the Justice Department’s court filing Wednesday (Nov. 20) that Google be barred from partnerships with companies that control where consumers search for information, is intended to apply to the company’s investment in Anthropic, Bloomberg reported Thursday (Nov. 21).

This move is part of a broader proposal to remedy government antitrust claims that Google criticized as “radical,” PYMNTS reported Thursday.

The proposal includes a Justice call for Google to divest its Chrome browser to answer a ruling that the company has a search market monopoly.

“DOJ had a chance to propose remedies related to the issue in this case: search distribution agreements with Apple, Mozilla, smartphone OEMs and wireless carriers,” Google said in a Thursday blog post. “Instead, DOJ chose to push a radical interventionist agenda that would harm Americans and America’s global technology leadership.”

A federal court ruled in August that Google has a monopoly on the search market, following a 2020 antitrust suit by the Justice Department.

Before the Justice Department presented its proposal to resolve the antitrust case, it was reported Wednesday that it planned to ask a judge to order Google to divest one or more core products as a way to reduce the company’s dominance in the search market.

It was reported in October 2023 that Google had invested $500 million in Anthropic and agreed to contribute another $1.5 billion over time.

During that same month, PYMNTS reported that Anthropic’s commitment to building and deploying what the company said are generative AI capabilities with stronger built-in guardrails, differentiated it from other foundational AI models on the market.

On Tuesday (Nov. 19), the U.K.’s competition watchdog, the Competition and Markets Authority (CMA), cleared Google’s partnership with Anthropic, saying that it had determined that the deal between the tech giant and the AI startup did not warrant additional investigation.

“The CMA does not believe that Google has acquired material influence over Anthropic as a result of the partnership,” the regulator said in its assessment of the arrangement.

The post DOJ Proposal in Antitrust Case Aims to Undo Google-Anthropic Partnership appeared first on PYMNTS.com.