The cryptocurrency market saw widespread declines today, with many major assets losing ground following recent surges.
Bitcoin slipped below $90,000, dipping briefly under $87,000, while Ethereum fell to just almost $3,000. The memecoin market also experienced a dip.
In contrast, Cardano’s ADA stood out as one of the few cryptocurrencies defying the downturn. The token surged by 19.5% in the past 24 hours, trading above $0.67 after briefly reaching $0.70 earlier today – its highest price since mid-March.
Cardano has surged over 50% in the past week and reached a market cap of around $23.5 billion, with a 24-hour volume of $3.6 billion.
The rally came as Charles Hoskinson, Cardano’s creator, revealed his involvement in a proposed group tasked with crafting a cryptocurrency regulatory framework under the Trump administration. This announcement sparked renewed interest in ADA, propelling it upward despite broader market declines.
In the past 24 hours $8.58 million were liquidated from ADA’s futures markets – $4.86 million in long positions, and $3.72 million in shorts.
The 1-day technical analysis from TradingView shows a bullish picture – the summary and moving averages point to “strong buy” at 16 and 14, respectively, while oscillators show “buy” at 2.
SUI’s price jumped from $2.98 to $3.77 on April 25, 2025, before it went back to $3.68 at the time of writing marking a 25% daily gain and pushing its market cap to roughly $12.25 billion.
CME Group, the world’s largest derivatives marketplace, is expanding its digital asset lineup with the launch of XRP futures, set to go live on May 19, pending regulatory approval.
As global sanctions continue to isolate Russia from traditional financial networks, the country’s top financial bodies — the Central Bank and the Ministry of Finance — are preparing to launch a government-backed cryptocurrency exchange.
As Bitcoin (BTC) regains stability and altcoins begin to show signs of life, investor optimism is once again on the rise.