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Here’s Why the Cardano (ADA) Price Could Spike This Week

TL;DR Speculation is growing that Gemini may soon list ADA, as hinted by co-founder Tyler Winklevoss. If confirmed, this could boost liquidity and drive price momentum for Cardano’s native token. ADA Rally on the Way? Cardano’s native cryptocurrency was at the forefront of gains at the start of March when US President Donald Trump confirmed work on a strategic crypto reserve that will include ADA, among other assets. The price surpassed $1.10 at one point, but the peak was short-lived and replaced by a substantial correction. In the following days, ADA has been on an evident downtrend, and as of this writing, it trades at approximately $0.73 (per CoinGecko’s data). ADA Price, Source: CoinGecko One factor that may invalidate (at least temporarily) the bearish trend is additional adoption from leading cryptocurrency exchanges. There have been increased rumors that the latest platform to allow trading services with ADA will be the US-based Gemini. Tylor Winklevoss (one of the company’s co-founders) recently hinted that ADA might be listed on the exchange. Such a development would increase the token’s liquidity and accessibility and may spark upward pressure on the price. Earlier this month, Gemini prepared the community for big news that is about to be announced as early as this week. It later set Thursday (March 13) as a specific date. The majority of X users commenting on the post believe the listing of Cardano’s native cryptocurrency will be the upcoming development. Gemini is among the few crypto behemoths that are yet to embrace ADA. Those that have hopped on the bandwagon over the past several years include Binance, Coinbase, Kraken, Bitget, OKX, Upbit, and many more. ‘No Point in Selling Here’ Numerous market observers have described ADA’s price retreat in the last week as a temporary pullback that should not be interpreted as the end of the bull run. The X user Bitcoin Buddha recently told his almost 500,000 followers on the social media platform that Cardano’s native token currently “retests the key support, which is a bullish sign for recovery.” “I am keeping an eye on this scenario just because of Trump’s reserves announcement. Cardano will hit hard once the market bounces back. Patience, no point in selling here,” they added. The post Here’s Why the Cardano (ADA) Price Could Spike This Week appeared first on CryptoPotato . Crypto Briefing

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Savvy Move: ARK Invest Doubles Down on Coinbase Shares Amidst Crypto Market Slump

Hold onto your hats, crypto enthusiasts! Even when the market takes a tumble, some big players see it as a golden opportunity. Guess who’s making headlines again? It’s none other than Cathie Wood’s ARK Invest, known for its bold bets and future-forward investment strategies. They’ve just made another significant move in the crypto space, and it involves everyone’s favorite crypto exchange, Coinbase. Let’s dive into the details of this strategic purchase and what it might signal for the future of crypto investments. Why is ARK Invest Buying More Coinbase Shares? In a rather volatile trading session where Coinbase’s stock, COIN, plunged by a significant 17.6%, ARK Invest saw a chance to capitalize. They didn’t just sit on the sidelines; instead, they went shopping! Through two of their popular Exchange Traded Funds (ETFs), ARK Innovation ETF (ARKK) and ARK Fintech Innovation ETF (ARKF), they snapped up a substantial 64,358 Coinbase shares . This purchase is valued at a cool $11.5 million. Think about it – while others might be panicking and selling off, ARK Invest is doubling down. This move speaks volumes about their conviction in Coinbase and the long-term potential of the crypto market. Fund Shares Purchased ARKK 52,753 ARKF 11,605 Total 64,358 Cathie Wood’s Continued Confidence in Coinbase This isn’t ARK Invest’s first rodeo with Coinbase shares . In fact, this recent acquisition is part of a larger trend. Over the past three weeks, ARK has been consistently adding to its Coinbase holdings, bringing their total investment to a whopping $28.2 million. This consistent buying spree clearly indicates Cathie Wood’s unwavering belief in Coinbase, even amidst market fluctuations and price drops. It’s like she’s saying, “Temporary dips? No problem, I’m in it for the long haul!” But why Coinbase? What makes it so attractive to ARK Invest, especially under Cathie Wood’s leadership? Long-Term Vision: ARK Invest is known for its focus on disruptive innovation and long-term growth. They likely see Coinbase as a leader in the evolving crypto landscape with significant growth potential. Strategic Positioning: Coinbase is a major player in the crypto exchange space. Investing in Coinbase allows ARK to gain exposure to the broader crypto market and its anticipated future expansion. Value Investing Approach: Buying during a price dip is a classic value investing strategy. ARK may believe that the recent price drop in COIN stock is an overreaction, presenting a chance to buy at a discounted price. Coinbase: A Cornerstone in ARK’s Portfolio Let’s talk about portfolio prominence. Coinbase isn’t just a minor holding for ARK Invest; it’s a significant piece of their investment puzzle. Currently, Coinbase stands as: Third-largest holding in ARKK , making up a substantial 7.1% of the fund’s total portfolio. Second-largest holding in ARKF , commanding an even larger 7.7% of this fund’s assets. These percentages are not trivial. They underscore just how much conviction ARK Invest has in Coinbase. It’s clear that they view Coinbase as a key driver for the future of fintech and disruptive innovation. Crypto Market Under Pressure: Is it a Buying Opportunity? The broader crypto market has been experiencing some turbulence lately. The same trading session that saw ARK Invest buying Coinbase shares also witnessed significant losses across the board: Bitcoin (BTC) , the king of crypto, tumbled by 7.6%. Other crypto-related stocks also faced heavy selling pressure. This widespread downturn raises a crucial question: Is this market slump a cause for concern, or is it a buying opportunity? For ARK Invest, and potentially for other savvy investors, it seems to be the latter. They are viewing this dip as a chance to accumulate quality assets at lower prices. This perspective aligns with the principle of “buy low, sell high,” a cornerstone of successful investing. Analyzing COIN Stock Performance COIN stock , representing Coinbase, has certainly seen its share of ups and downs. The recent 17.6% drop is a stark reminder of the volatility inherent in the crypto and tech sectors. However, it’s essential to look beyond short-term price fluctuations and consider the bigger picture. Here are a few factors to consider when analyzing COIN stock performance: Market Sentiment: Crypto market sentiment is highly influential on COIN’s price. Overall market optimism or pessimism can drive significant price swings. Coinbase’s Fundamentals: Company performance, user growth, trading volumes, and new product launches are crucial fundamental factors that impact COIN’s long-term value. Regulatory Landscape: Regulatory developments in the crypto space can have a significant impact on Coinbase’s operations and stock price. Competition: The crypto exchange landscape is competitive. Coinbase’s ability to maintain its market share and innovate is vital for its continued success. Despite the volatility, ARK Invest’s continued investment suggests they are bullish on Coinbase’s fundamentals and its ability to navigate the evolving regulatory and competitive environment. Actionable Insights: What Can We Learn from ARK’s Move? So, what can the average crypto investor learn from ARK Invest’s latest move? Here are a few actionable insights: Think Long-Term: Like ARK Invest, consider adopting a long-term investment horizon, especially in volatile markets like crypto. Focus on the future potential rather than short-term price swings. Do Your Due Diligence: Understand the companies you invest in. ARK Invest’s conviction in Coinbase is likely based on in-depth research and understanding of the company and the crypto market. Consider Buying the Dip: Market downturns can present buying opportunities for fundamentally strong assets. If you believe in the long-term prospects of crypto and companies like Coinbase, market dips can be strategic entry points. Diversify Your Portfolio: While ARK Invest has significant holdings in Coinbase, diversification remains a key principle in risk management. Don’t put all your eggs in one basket. Conclusion: A Bold Bet on Crypto’s Future ARK Invest’s recent purchase of Coinbase shares amidst a crypto market slump is a powerful statement. It underscores their firm belief in Coinbase and the enduring potential of the crypto market . Cathie Wood’s continued confidence, reflected in these strategic investments, offers a compelling perspective: market volatility can be a gateway to opportunity for those with a long-term vision and a savvy investment strategy. As the crypto landscape continues to evolve, ARK Invest’s moves will undoubtedly be closely watched by investors around the globe. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action. Crypto Briefing