2 days ago
Cardano is navigating a pivotal price range, bounded by the $0.75 and $1.3 thresholds, with its recent price action underscoring a successful pullback to the previously breached $0.75 support. The outcome of a breakout from this range will likely set the tone for its next significant market direction. Technical Analysis By Shayan The Daily Chart Cardano has recently encountered a rejection at the $1.3 resistance level, triggering heightened volatility and a descending retracement phase. As a result, the price settled at the $0.75 support zone, which coincides with a significant prior yearly swing high and is laden with demand and buying interest. This support has halted further downside momentum, keeping ADA confined within the $0.75-$1.3 range. This consolidation phase suggests a build-up of market pressure, with the potential for a decisive breakout on either side. A bullish breakout above $1.3 would signal the initiation of a sustained uptrend, while a bearish breakdown below $0.75 could result in a significant liquidation cascade, pushing the price toward lower support levels. The 4-Hour Chart On the shorter timeframe, Cardano’s price action has been shaped by a descending wedge pattern, a formation that often indicates a potential bullish breakout if the upper boundary is breached. Currently, the asset is hovering around the wedge’s lower boundary, near the $0.75 support zone, where increased buying interest is evident. This area is further reinforced by the critical 0.5 ($0.82)-0.618 ($0.7) Fibonacci retracement levels, solidifying it as a formidable barrier against further selling pressure. In the mid-term, ADA is anticipated to continue consolidating within this wedge pattern while maintaining its position above these key Fibonacci levels. A bullish breakout from the wedge could pave the way for an advance toward the $1.3 resistance. Conversely, a bearish breakdown below the wedge’s lower boundary might trigger a deeper decline, with the $0.5 threshold emerging as the next significant support level. The post Cardano Price Analysis: ADA Enters Consolidation Phase After 16% Weekly Drop appeared first on CryptoPotato .
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ai16z Explores AI-Focused L1 Blockchain as Token Hits $1.8B Market Cap
Artificial intelligence platform ai16z is contemplating launching a layer-1 (L1) blockchain network as part of a strategic overhaul of its tokenomics model. The proposed blockchain would position its native AI16Z token as the base currency for an interconnected ecosystem centered on artificial intelligence. The Proposal A governance forum post shows that the AI platform is exploring the development of a project similar to Pump.fun to facilitate the launch of AI agents. Additionally, the team is considering positioning AI16Z as an L1 blockchain tailored for artificial intelligence applications. Participants in the discussion view the proposed launchpad as a key mechanism to implement “flywheel” tokenomics to increase the value of AI16Z. They proposed several approaches to achieve the goal, including taking a percentage of launch fees, requiring AI16Z holdings for allocation, leveraging the token for initial agent offerings, and pairing agent tokens with it in liquidity pools. Moreover, developers and projects would receive ecosystem funds, revenue-sharing opportunities, third-party launchpad support, and AI16Z’s inherent value. Additionally, buyback and burn strategies funded by platform fees are under consideration to accrue value to the token. To ensure quality and alignment with ecosystem goals, the team is also contemplating a community-driven “curation” process, where supporters would vet projects before launching through mechanisms such as staking and slashing. The post emphasized that the main goal is to create an interconnected ecosystem where various products contribute to one another’s value, all intrinsically tied to the AI16Z token. AI16Z Token’s Rapid Growth AI16Z identifies itself as “the first investment DAO led by AI agents,” leveraging its flagship AI operating system, Eliza, to combine artificial and collective intelligence in making investment decisions. According to CoinGecko data , the token’s market cap has surged past the $1.8 billion mark. At the time of writing, it was trading at $1.69 after earlier hitting a new all-time high (ATH) of $1.77. While about 5.7% below the ATH, its current price is still a massive 380% improvement in the past month. Further, a report by VanEck showed the Web3 ecosystem now hosts approximately 10,000 AI agents, collectively generating millions of dollars in weekly earnings through on-chain activities. The asset manager projects that blockchain networks’ AI agent population could surpass 1 million by the end of 2025. Additionally, recent insights from the Web3 analytics platform Dexu AI reveal that AI-driven technologies, led by AI16Z, generated an impressive 72.2% return over the past month. Previously, the cryptocurrency was one of the poor performers among tokens launched on Binance Alpha, dropping 18.5% of its value before rediscovering its footing. Its uptick may not come as a surprise, with Bitfinex recently hinting that such tokens could change the crypto space as more people use them to execute transactions, optimize their investment strategies, and manage their crypto wallets. The post ai16z Explores AI-Focused L1 Blockchain as Token Hits $1.8B Market Cap appeared first on CryptoPotato . Crypto Potato
