Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    Ethereum upgrade to offer revenue sharing for Layer 2 developers

    August 1, 2023

    Czech Central Bank Governor Proposes Bitcoin Investment

    January 29, 2025

    Ternoa offers Polygon CDK-based Ethereum L2 zkEVM+ for security and privacy

    June 19, 2024
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      July’s Rate Cut Dreams Fade: Fed Seen Holding Firm as Trump Fumes

      July 10, 2025

      UAE Rejects $100K Crypto Visa Program as TON’s Staking Plan Triggers Regulatory Backlash

      July 8, 2025

      Digital trade tensions take center stage between the U.S. and South Korea

      July 7, 2025

      Traders Gear Up: FOMC Prep Signals Bitcoin, Altcoin Buying Frenzy

      July 6, 2025

      Bitcoin: Here's why BTC might fall to $105K despite all the hype

      July 5, 2025
    • Technology

      Coinbase partners with Perplexity to unlock real-time crypto data for traders

      July 10, 2025

      Comment on Bitcoin Surges to $110K as Selling Pressure Declines; Is BTC Charting its Way to a New ATH Soon? by Bitcoin Price Prediction: BTC to Hit $145.1K by Year-End and More

      July 9, 2025

      CleanSpark Doubles Bitcoin Mining Power After Georgia Expansion

      July 8, 2025

      Dogecoin price double bottoms as whale accumulation continues

      July 7, 2025

      Comment on Metaplanet Joins Top 5 Bitcoin Holders With 13,350 BTC as Stock Surges 10% by Bitcoin Treasuries Boom as Firms Add 8,400 BTC in Just One

      July 6, 2025
    • Learn/Guide

      Coinbase, Perplexity AI join forces to enhance crypto data access for traders

      July 10, 2025

      Top perps DEX GMX hacked for over $40m, $GMX token plunges

      July 9, 2025

      Cardano Foundation unveils blockchain-based tool to simplify audit compliance and enhance financial reporting

      July 8, 2025

      Plume Network brings real-world yield to TRON’s global payment ecosystem via SkyLink integration

      July 7, 2025

      TON introduces UAE Golden Visa program through crypto staking, Toncoin soars 13%

      July 6, 2025
    • NFTs

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025

      Daizen: Elevating the NFT Multiverse on Apechain Blockchain | NFT CULTURE | NFT News | Web3 Culture

      December 5, 2024
    • Regulation

      SEC Drops Binance Lawsuit: How Regulatory Clarity Could Spark a BNB Price Rally

      May 30, 2025

      Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections

      March 31, 2025

      Utah Moves Closer To Bitcoin Reserve As Bill Advances To Senate Standing Committee

      February 23, 2025

      Bitcoin ETFs In Focus As Kansas Senator Proposes Up To 10% Pension Fund Allocation

      January 26, 2025

      MicroStrategy May Face Tax Issues Over $19 Billion Unrealized Bitcoin Gains: Report

      January 25, 2025
    • Business

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024

      Brazil Prepares to Let Tradfi Institutions Embrace Crypto

      November 13, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » ADA tanks 7% post Binance lawsuit: ‘Dystopia,’ says Hoskinson
    Technology

    ADA tanks 7% post Binance lawsuit: ‘Dystopia,’ says Hoskinson

    June 6, 20233 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    ADA tanks 7% post Binance lawsuit: 'Dystopia,' says Hoskinson
    Share
    Facebook Twitter LinkedIn Pinterest Email



    • After being labeled as an unregistered security, ADA’s price fell sharply.
    • The Cardano founder opined that the regulator was authoritarian.

    Shredding 7.64% in the last 24 hours was not something Cardano [ADA] holders would have imagined at a time when the token was having a relatively good season. But the U.S. Securities and Exchange Commission (SEC) had other plans.


    Realistic or not, here’s ADA market cap in BTC’s terms


    In the latest round of regulatory proscription, the agency shortlisted ADA, Solana [SOL], Polygon [MATIC], Binance Coin [BNB] among other cryptocurrencies, as securities. Although the lawsuit was directed at Binance, ADA appeared on the list of assets that brought about the allegations.

    ADA: Caught in the crossfire

    ADA reacted with the aforementioned decrease in value. The token’s value also increased by 121%. Typically, the volume considers the number of tokens or coins that took part in transactions that have occurred within a time frame.

    Source: Santiment

    But with ADA’s price action, it was obvious the increase in transactions was mostly due to an increase in sell-offs. Thus, the volume created strength for a downward trend.

    On 5 June, Cardano’s co-founder Charles Hoskinsion commented on the regulatory action. In his tweet, Hoskinson noted that the complaints against Binance and the assets seemed like a political witch-hunt.

    With respect to Binance, I’m reading through the SEC complaint. It’s over 130 pages, but seems like the next in a series of steps to implement chokepoint 2.0 in the United States. The end goal is a agenda based CBDC partnered with a handful of massive banks and end-to-end control…

    — Charles Hoskinson (@IOHK_Charles) June 5, 2023

    While calling for unity around the crypto sector, and explaining why the SEC has been acting like a dictatorial agency, Hoskinson said,

    “It’s always the same fight between freedom and authoritarianism just with different players, technology, and words. It does seem like this event is a perfect opportunity for the entire industry to set aside it’s fragmented nature and unite for a common sense set of rules and guidelines that can prevent the United States from slipping into a distopia that would make 1984 look like a vacation.”

    It’s sell-off season

    At press time, the Moving Average Convergence Divergence (MACD) showed that sellers were now in control. As a technical indicator, the MACD measures the momentum of an asset.

    And at the time of writing, the value of the indicator was negative, with the 12-day EMA trending below the 26-day EMA. 

    While positive values indicate that momentum could be bullish, a negative MACD indicates downward momentum. Therefore, ADA’s price could still falter from the fall to $0.35.


    How much are 1,10,100 ADAs worth today?


    In addition, the Chaikin Money Flow (CMF) had decreased to -0.08. As a measure of accumulation and distribution, a negative CMF indicates that more exit had taken place than accumulation based on the 21-day closing price.

    Cardano [ADA] price action

    Source: TradingView

    As it stands, ADA may continue to feel the effect of its name being in the Binance FUD. However, time will tell when the token will recover from its bearish outlook.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Coinbase partners with Perplexity to unlock real-time crypto data for traders

    July 10, 2025

    Comment on Bitcoin Surges to $110K as Selling Pressure Declines; Is BTC Charting its Way to a New ATH Soon? by Bitcoin Price Prediction: BTC to Hit $145.1K by Year-End and More

    July 9, 2025

    CleanSpark Doubles Bitcoin Mining Power After Georgia Expansion

    July 8, 2025

    Dogecoin price double bottoms as whale accumulation continues

    July 7, 2025
    Top Posts

    2025 Roadmap Showcases New XRP Product Suite

    November 6, 2024

    Analysts claim crypto capital rotation is driving Ethereum, Cardano and Solana gains

    November 28, 2024

    5 altcoins ready to surge 18,000% as Bitcoin aims for $150,000

    December 28, 2024

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    July’s Rate Cut Dreams Fade: Fed Seen Holding Firm as Trump Fumes

    July 10, 2025

    UAE Rejects $100K Crypto Visa Program as TON’s Staking Plan Triggers Regulatory Backlash

    July 8, 2025

    Digital trade tensions take center stage between the U.S. and South Korea

    July 7, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.