Crypto World
DOJ seeks forfeiture of $327K in USDT linked to romance scam
The United States Attorney’s Office for the District of Massachusetts filed a civil forfeiture action Monday seeking to recover 327,829.72 USDT, allegedly involved in a money laundering scheme connected to an online romance scam.
Summary
- DOJ is seeking to recover approximately $327,829 in USDT linked to a romance fraud and money-laundering scheme.
- Investigators say the stolen funds were routed through intermediary wallets and converted to stablecoin to conceal origin.
- The action underscores continued federal efforts to trace and reclaim crypto assets to return them to defrauded Americans.
Justice Department targets crypto laundering in online romance scam
The complaint, filed in federal court, names the cryptocurrency as defendant property and seeks its forfeiture under federal law as proceeds of fraud and laundering.
According to the complaint, the stolen funds originated from a Massachusetts resident who was targeted in late 2024 on a dating app. The fraudster, identified only by an alias, convinced the victim to send funds for purported cryptocurrency investments that never existed.
Rather than investing the money, the scammers diverted it through a series of cryptocurrency wallets and ultimately converted it to USDT, a common tactic to obfuscate the origin and movement of illicit proceeds.
Several of the wallets in question were seized by law enforcement in August 2025 after blockchain analysis traced connections to the scam.
Under U.S. civil forfeiture law, property traceable to illegal activity may be seized by the government and ultimately returned to victims if the court finds it to be proceeds of crime. The Justice Department’s action allows third parties with a legitimate interest in the property to file claims before any forfeiture is finalized.
Prosecutors said the forfeiture complaint is part of broader efforts to target online frauds, including romance scams, investment schemes, and cyber-enabled financial crime that increasingly leverage cryptocurrency to move and hide funds.
The case highlights both the growing sophistication of crypto-related fraud and law enforcement’s expanding use of blockchain analysis to trace and reclaim stolen digital assets for fraud victims.
Global payment giant Visa is expanding its stablecoin card partnership with Stripe-owned Bridge, expanding the rollout of stablecoin-linked Visa cards worldwide and testing onchain settlement.
Visa and Bridge are expanding their joint card program to 18 countries, with plans to reach more than 100 across Europe, Asia-Pacific, Africa and the Middle East by the end of the year, according to a Tuesday announcement.
The expansion follows the program’s initial launch in April 2025, which first supported markets in Latin America, including Argentina, Colombia, Ecuador, Mexico, Peru and Chile.
In addition to the expansion, the companies are testing stablecoin settlement through Visa’s pilot program, enabling issuers and acquirers to settle transactions using stablecoins rather than fiat.
The move highlights the ongoing stablecoin race in the payments industry, with Mastercard recently enabling stablecoin card spending in the US via the self-custodial crypto wallet MetaMask.
Onchain support enabled through Bridge’s partnership with Lead Bank
When the card program launched in 2025, transactions were processed by Bridge, deducting funds from the customer’s stablecoin balance and converting them into fiat, allowing merchants to receive payment in local currency like any other card transaction.
Under the new collaboration, enabled by independent commercial bank Lead Bank, settlement is now set to occur directly in stablecoins.
“Now, through Bridge’s partnership with Lead Bank, these card transactions can be settled onchain with Visa,” the announcement noted.
“Visa is committed to meeting businesses where they operate, and increasingly, that’s onchain,” Visa’s head of crypto, Cuy Sheffield said. “Expanding our work with Bridge gives us one more way to bring the speed, transparency and programmability of stablecoins directly into the settlement process,” he added.
Related: Stripe considers acquiring some or all of PayPal: Report
Additionally, Visa is evaluating potential support for Bridge-issued assets, or stablecoins created and managed using Bridge’s infrastructure platform. Unlike major stablecoins such as Tether’s USDt (USDT) or Circle’s USDC (USDC), Bridge-issued stablecoins are created programmatically by businesses rather than a third-party issuer.
“This expansion of our work with Visa will enable businesses launching their own custom stablecoins to use them seamlessly within their card programs,” Bridge co-founder and CEO Zach Abrams said.
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Ripple continues to draw attention due to important developments concerning its entire ecosystem.
The company’s native token, XRP, has posted a minor recovery over the past week, but some indicators suggest a renewed downfall could be knocking on the door.
Ripple & Hidden Road
The firm made the headlines in April last year when it announced it would purchase the brokerage platform Hidden Road for a whopping $1.25 billion. The official conclusion of the deal occurred in October 2025.
Some industry participants described the acquisition as a “game changer” because it gives Ripple direct control over a prime brokerage that processes over $3 trillion in volume every year. This makes it much easier for banks, hedge funds, and other large players to use XRP in settlements, thereby increasing its institutional adoption.
A recent DTCC notice revealed that Hidden Road has officially gone live on the National Securities Clearing Corporation (NSCC) on March 2nd. The X account BankXRP shared the news, arguing:
“Ripple Prime’s role in bridging TradFi and DeFi will likely move post-trade volume to the XRPL.”
David Schwartz – one of the original architects of the XRP Ledger and CTO Emeritus at Ripple – also touched upon the matter, saying that the development “seems important.”
RLUSD’s Progress
Ripple’s stablecoin, dubbed RLUSD, officially saw the light of day in late 2024 and has been gradually advancing ever since. The product, pegged 1:1 to the US dollar, received backing from numerous exchanges and renowned banking institutions, such as the oldest American bank, BNY Mellon.
RLUSD’s market cap now nears $1.6 billion, with X user SMQKE recently noting that the stablecoin has grown “much faster” than Circle’s USDC in its first year.
Several hours ago, another 69 million tokens were minted at the RLUSD Treasury, with Vet emphasizing that this is the largest single mint to date.
The ETFs
In November last year, Canary Capital became the first company to launch a spot XRP ETF in the US, which has 100% exposure to the token. The renowned names that followed suit shortly after include Bitwise, Franklin Templeton, 21Shares, and Grayscale.
Initially, the investment vehicles were a major success, with millions of dollars pouring in during the first weeks, generating a cumulative net inflow of roughly $1.25 billion to date. Lately, though, that momentum has noticeably faded.
XRP Price Outlook
As of this writing, Ripple’s native cryptocurrency trades around $1.35, representing a minor 1.5% increase on a weekly scale. However, the market’s overall bearish condition, as well as certain indicators, hint that a new pullback could be on the way.
For example, almost 500 million XRP (worth around $650 million) have been transferred to Binance following the escalating military conflict between the USA and Iran. This is considered a bearish factor as it may suggest that investors are preparing to cash out.
On the other hand, XRP’s Relative Strength Index (RSI) has fallen to 30 on a weekly scale. The development indicates that the asset is oversold and could be due for a short-term resurgence. The metric runs from 0 to 100, where anything above 70 is seen as bearish territory.
The post Ripple (XRP) News Today: March 3rd appeared first on CryptoPotato.
Ethereum has recently seen a struggle in its price recovery, primarily due to growing uncertainty in the market. After multiple failed attempts to rally, Ethereum’s price is currently facing pressure from both selling activity and a crucial demand zone.
While the demand zone, hovering around $1,880, has provided support, it is also preventing any immediate price reversal.
Ethereum Selling Is Necessary
For the first time in over two months, Ethereum is flashing a key sell signal as its Price DAA Divergence metric shows a concerning trend. The metric compares daily active addresses (DAA) against Ethereum’s price, providing insights into investor sentiment.
As DAA begins to fall alongside Ethereum’s price, it signals that the network is experiencing a decrease in activity, suggesting rising selling pressure. This trend is reflected in the appearance of a red bar, which indicates mounting bearish sentiment.
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The drop in DAA suggests that fewer users are engaging with the network, which typically leads to a weakening market structure. When both DAA and price decline together, it’s often a sign that Ethereum’s bullish momentum has stalled, and a price dip could be imminent.
Interestingly, while the rising selling pressure around Ethereum might appear negative at first glance, it could be the catalyst for a much-needed price reversal. Ethereum’s MVRV (Market Value to Realized Value) pricing bands are signaling that ETH is nearing a pivotal moment. MVRV below 0.8 has historically indicated that the altcoin is undervalued, suggesting that ETH is due for a rebound.
With Ethereum trading below the Extreme Lows for approximately 5% of trading days, the MVRV signal is often a precursor to a price reversal. However, Ethereum needs more than just market signals—it requires investor confidence to push through. The current selling pressure may be limiting this momentum, but the situation remains fluid. If investors hold onto their positions rather than sell, ETH could soon see a price rebound.
Investors Are Blocking ETH Recovery
The most significant support level Ethereum currently faces is the $1,880 demand zone, formed by ETH holders who have accumulated 1.406 million ETH worth over $2.81 billion. This price range has been a critical level, with price dips to this area being met with a strong bounce back. Ethereum’s price has consistently been supported at this level, demonstrating that investors are reluctant to sell below it.
If Ethereum’s price does fall to this demand zone again, it is likely to be met with buying pressure. This would prevent further downside movement. However, should selling activity intensify and Ethereum slip below $1,880, this would trigger a sharper decline.
Such a drop would likely trigger the reversal Ethereum needs, but it would also leave the cryptocurrency vulnerable to even lower levels. The balance at this demand zone is crucial in determining Ethereum’s immediate future.
ETH Price Has Some Resistance Ahead
Ethereum is currently trading at $1,998, facing resistance along a downtrend line. This bearish momentum could suppress Ethereum’s price in the short term, making it difficult to initiate a rally. As a result, the price is likely to remain subdued, limiting the possibility of an immediate recovery.
With the ongoing bearish factors, there is a chance that Ethereum could drop toward the $1,902 support. A break below this level could see the price falling further, potentially reaching the $1,816 mark or lower. Such a move would be necessary to trigger the reversal that Ethereum needs to regain its upward momentum.
Alternatively, if investor sentiment improves and macroeconomic conditions turn favorable, Ethereum could push past the current downtrend line. A move above this resistance would bring Ethereum closer to the $2,165 mark. This would invalidate the current bearish outlook and open the door for potential price rallies.
Binance’s renewed push into tokenized stocks gained regulatory backing Tuesday as the Abu Dhabi Global Market (ADGM) approved trading of Ondo Finance’s tokenized equities on the exchange’s regulated platform.
The Financial Services Regulatory Authority of ADGM cleared Ondo Global Markets’ tokenized stocks and ETFs to trade on Binance’s FSRA-regulated Multilateral Trading Facility, according to a press release shared with CoinDesk. The listing includes tokenized versions of Amazon, Alphabet, Apple, Circle, Meta, Microsoft, Nvidia, Tesla and the Invesco QQQ ETF. The products are available for non-U.S. users.
This is the first time the ADGM approved tokenized securities trading under the its regulatory framework, allowing UAE-based financial institutions, intermediaries, and counterparties deal in token versions of equities, Ondo said.
“Through offering Ondo tokenized stocks for trading on Binance, we are expanding access to hundreds of millions of investors,” Ian de Bode, president of Ondo Finance, said in a statement.
The approval gives Binance a regulated venue to trade tokenized equities, nearly five years after it shut down a similar service following scrutiny from U.K. and German regulators. The move comes after Binance listed Ondo’s tokenized equities on its Alpha platform, dedicated to riskier, early-stage projects.
Tokenized stocks have drawn interest from crypto exchanges such as Kraken, brokerages like Robinhood and traditional market operators like Nasdaq and the New York Stock Exchange. The market’s total value has surpassed $1 billion, RWA.xyz data shows.
Supporters argue that putting equities on blockchain rails can widen investor access and allow the assets to move across trading and lending platforms more easily, linking stock markets with decentralized finance.
Ondo structures its products as equity-linked notes tied to the underlying shares. The firm says it has processed more than $11 billion in cumulative trading volume with over $600 million in total value locked since launching its offering less than six months ago.
Last year, Ondo secured approval for its base securities prospectus in the European Union, allowing public distribution across the European Union.
Key Takeaways
- Best Buy (BBY) exceeded Q4 adjusted EPS projections at $2.61 compared to analyst expectations of $2.47, driving shares up approximately 12% during premarket hours.
- Quarterly revenue totaled $13.81 billion, representing a 1% year-over-year decline and falling short of the $13.87 billion consensus estimate.
- Comparable store sales decreased 0.8%, contrasting with analyst predictions of a 0.1% increase.
- Annual guidance disappointed: EPS range of $6.30–$6.60 versus analyst expectations of $6.66, with comparable sales projected between -1% and +1% against estimates of +1.63%.
- The electronics retailer increased its quarterly dividend payout by one cent to $0.96 per share, delivering the strongest yield within the Consumer Discretionary Select Sector SPDR ETF.
Best Buy (BBY) unveiled its fiscal fourth-quarter financial performance on Tuesday, delivering earnings that exceeded Wall Street predictions — though top-line results and forward guidance disappointed investors.
Shares surged as much as 11.8% during premarket hours following the earnings release, bouncing back from an 11-month trough reached just one trading session earlier.
BBY concluded Monday’s session with a 0.6% decline to $61.59, marking the end of a challenging four-month period that witnessed a nearly 25% depreciation. Entering Tuesday’s announcement, market sentiment was already subdued.
Adjusted profit per share reached $2.61, improving from $2.58 in the year-ago period and comfortably surpassing analyst projections of $2.46–$2.47. This positive surprise provided the catalyst shares needed.
Top-line results for the quarter concluding January 31 totaled $13.81 billion, reflecting a 1% year-over-year contraction and marginally trailing the consensus projection of $13.87 billion.
Comparable store sales contracted 0.8%, falling short of predictions calling for a 0.1% expansion. While disappointing, this decline remains manageable within the current retail environment.
Chief Executive Corie Barry emphasized that overall market positioning remained stable throughout the holiday quarter, notwithstanding softer consumer appetite across the electronics retail sector.
Cost of goods sold totaled $10.93 billion, down from $11.03 billion in the prior-year period — indicating effective cost management strategies.
Barry additionally highlighted that comparable sales for the complete fiscal year returned to positive territory for the first time in three years, and that Best Buy’s advertising division delivered solid performance.
Annual Projections Fall Short of Expectations
The retailer projected full-year revenue between $41.2 billion and $42.1 billion, trailing the consensus estimate of $42.2 billion. Comparable sales are anticipated to range from negative 1% to positive 1%, underperforming the analyst projection of 1.4% growth.
Adjusted EPS guidance spanning $6.30–$6.60 similarly disappointed relative to the $6.63–$6.66 consensus band.
CFRA Research analyst Ana Garcia characterized the quarter as evidence of “operational resilience,” while acknowledging “mounting headwinds” approaching fiscal 2027.
Evercore ISI’s Greg Melich adopted a more balanced perspective, noting the guidance “signals modest growth with overall demand normalization — which was better than feared.”
Wedbush’s Matthew McCartney had indicated prior to the release that diminished expectations were already reflected in valuations, with limited catalysts visible to reignite investor enthusiasm. The earnings surprise provided markets with a positive data point.
Dividend Payout Receives Incremental Increase
Best Buy elevated its quarterly dividend distribution by one cent to $0.96 per share. Using Monday’s closing price as a reference, this translates to an annualized yield of 6.23%.
This represents the most attractive dividend yield among all constituents of the Consumer Discretionary Select Sector SPDR ETF — and exceeds five times the implied yield on the S&P 500 of 1.16%.
Management referenced a “mixed macro environment” as a contributing factor to its conservative annual outlook, with consumers facing pressure from tariff-driven cost escalations and an unpredictable employment landscape.
BBY has declined 29% over the trailing 12 months through Monday, while the S&P 500 advanced 17.6% during the identical timeframe.
Adjusted Q4 EPS of $2.61 exceeded projections of $2.46, whereas full-year EPS guidance spanning $6.30–$6.60 trailed the $6.63 consensus estimate.
Technological deflation driven by artificial intelligence could help push Bitcoin above $10 million within a decade by pressuring central banks to keep expanding the money supply, according to a report from Strive strategist Joe Burnett.
Burnett, Strive’s vice president of Bitcoin strategy, said in a report published Monday that faster productivity gains from AI will push down prices across goods and services, squeezing margins and prompting policymakers to respond with sustained monetary expansion. His “base case” calls for Bitcoin (BTC) to reach $11 million in the first quarter of 2036, he wrote.
”My base case for Q1 2036 is $11 million per Bitcoin.”
The forecast rests on a set of aggressive assumptions, including that Bitcoin would grow to about 12% of the value of global financial assets and that global wealth would compound at 7% annually through 2036. With Bitcoin currently accounting for about 0.2% of all financial assets, this would involve an over 176-fold increase in Bitcoin’s market capitalization during the next decade to hit $230 trillion.
The forecast would imply that Bitcoin becomes the dominant global reserve asset along with structurally loose monetary policy over the next decade, Nic Puckrin, co-founder and lead market analyst of educational platform Coin Bureau, told Cointelegraph.
”The forecast implies Bitcoin would become around 10 times as large as the current US M2 money supply, nearly four times as large as the US equity market today, and nearly double current global GDP.”
The prediction would also imply a compound annual growth rate (CAGR) of around 53% per annum, which is not unprecedented considering Bitcoin’s average 60% CAGR between 2015 and 2024, but a slowdown may be expected due to its larger market capitalization, added Puckrin.
AI deflation engine to lead to structural monetary expansion
Burnett’s thesis centers on what he described as an “AI deflation engine,” arguing that AI-driven automation and cost reductions could create persistent deflationary pressure.
In a debt-based fiat system, sustained deflation can strain credit markets because wages and asset prices may fall while debt obligations remain fixed in nominal terms, he wrote, potentially pushing central banks and fiscal authorities to add liquidity to avoid a deflationary spiral.
Related: Bitcoin manipulation claims face pushback as ETFs snap 5-week outflow run: Finance Redefined
”Under a debt-based fiat framework, persistent deflation destabilizes credit markets because wages and asset prices decline while mortgages, corporate loans, and sovereign debt remain fixed in nominal terms,” Burnett said.
”As AI drives real-economy deflation, central banks and fiscal authorities expand liquidity to prevent a deflationary spiral.”
Burnett said this will lead to a persistent increase in money relative to the supply of scarce assets.
Related: Solo Bitcoin miner bags over $200K block reward using rented hashrate
Emergence of digital credit set to bolster Bitcoin demand
The report also points to what Burnett calls the emergence of “digital credit” models promoted by companies including Strategy, the largest corporate Bitcoin holder.
Digital credit provides US dollar income to investors through publicly traded securities backed by large Bitcoin balance sheets issued by treasury firms as a means to raise capital to acquire more Bitcoin.
Burnett foresees digital credit products creating a ”reflexive loop” between global yield demand and Bitcoin accumulation, marking the ”early stage of a credit system built on verifiably scarce money.”
Still, the $11 million forecast stands well above most bullish scenarios that use shorter time horizons. For instance, ARK Invest predicted a 2030 Bitcoin price target of $1.5 million in the company’s bull case and a $300,000 price target in the bear case, Cointelegraph reported in November 2025.
Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation — Santiment founder
Crypto World
Ethereum Price Prediction: Whales Drive 7th Red Month While RWA Sector Hits $15B Record
Ethereum is on the verge of something it has never experienced before: a seventh consecutive red month and that is fueling bearish price prediction.
For an asset of this size and history, that kind of streak carries psychological weight.
It is not just about price drifting lower, it is about confidence slowly eroding as each monthly close reinforces the downtrend.
Large holders have played a major role in shaping that pressure. Wallets holding between 100K and 1M ETH have been steadily reducing exposure, using relief rallies to distribute rather than accumulate.
That persistent supply has kept upside attempts muted and sentiment fragile. When whales derisk, the rest of the market tends to tread carefully.
Yet beneath the surface, a very different story is unfolding.
While ETH struggles on the chart, Ethereum’s Real World Asset sector has surged past $15 billion in total value locked. Tokenized Treasuries, gold products like PAXG and XAUT, and institutional vehicles such as BlackRock’s BUIDL fund are expanding rapidly on-chain.
That divergence is what makes this moment so tense. Price action suggests exhaustion and potential capitulation, but network adoption is accelerating.
Ethereum Price Prediction: Can ETH Price Catch Up?
Technically, Ethereum is compressing around the $2,150 zone, which now acts as a decisive structural level. A confirmed weekly break below it would validate a larger bearish formation and expose the $1,320 region as a downside target.
However, repeated defenses of this support leave room for a reversal scenario. If buyers reclaim $2,400 and push through $2,500, the bearish setup weakens significantly and opens the door for a squeeze higher.
Discover: The best new crypto in the world
The post Ethereum Price Prediction: Whales Drive 7th Red Month While RWA Sector Hits $15B Record appeared first on Cryptonews.
A federal judge has dismissed a proposed class action lawsuit against Uniswap Labs, CEO Hayden Adams and several venture capital backers, ruling they cannot be held liable for alleged “rug pull” tokens traded on the decentralized exchange’s protocol.
In a ruling issued Monday by the U.S. District Court for the Southern District of New York, Judge Katherine Polk Failla threw out the remaining state law claims in Risley v. Universal Navigation Inc., the Brooklyn-based firm that operates Uniswap. after previously dismissing the plaintiffs’ federal securities claims. The decision effectively ends the case at the district court level.
The ruling is one of the first to specifically address whether developers and investors behind a decentralized protocol can be held liable under existing securities and state laws for tokens created and traded by third parties.
“Due to the Protocol’s decentralized nature, the identities of the Scam Token issuers are basically unknown and unknowable, leaving Plaintiffs with an identifiable injury but no identifiable defendant,” Failla wrote.
“Undaunted, they now sue the Uniswap Defendants and the VC Defendants, hoping that this Court might overlook the fact that the current state of cryptocurrency regulation leaves them without recourse, at least as to the specific claims alleged in this suit,” she added.
Irina Heaver, a UAE-based crypto lawyer, told CoinDesk “the dismissal signals that courts are beginning to engage more seriously with the realities of decentralization.”
By recognizing that a permissionless protocol governed by autonomous smart contracts is not the same as a centralized intermediary exercising control, the court drew an important distinction for DeFi, she explained.
“When code executes automatically and there is no discretionary control, liability cannot simply be reassigned to developers because bad actors misuse the infrastructure,” Heaver said. “The real question now is how this reasoning carries into criminal cases such as Tornado Cash. If decentralization is acknowledged as a structural reality, prosecutors will need to prove intent and control, not merely authorship of code.”
Brian Nistler, Uniswap’s head of policy, celebrated the ruling on X, calling it “another precedent-setting ruling for DeFi.” He highlighted what he described as his “favorite quote” from the case: “It defies logic that a drafter of a smart contract, a computer code, could be held liable … for a third party user’s misuse of the platform.”
The plaintiffs, a group of investors , claimed they lost an undisclosed amount of money after purchasing dozens of tokens on the Uniswap Protocol that they later described as scams. Because the token issuers were unidentified, the investors instead sued Uniswap Labs, the Uniswap Foundation, Adams and venture firms Paradigm, Andreessen Horowitz and Union Square Ventures.
Failla rejected the argument that the defendants could be held responsible simply for providing the infrastructure on which the tokens were issued and traded.
“Plaintiffs’ theories of liability are still predicated on Defendants having ‘facilitated’ the scam trades by providing a marketplace and facilities for bringing together buyers and sellers of Tokens,’” Failla wrote, concluding that the claims failed as a matter of law.
In an earlier dismissal of the federal claims, Failla said it “defies logic” to hold the drafter of a smart contract liable for a third party’s misuse of the platform — language that has been widely cited by decentralized finance advocates.
Visa and Stripe-owned stablecoin firm Bridge have expanded globally the stablecoin-linked card issuance product unveiled last year, which was focused on Central and South American countries.
Lead Bank, which was announced as a participant in Visa’s stablecoin settlement pilot earlier this year, is also working with Bridge’s stablecoin infrastructure, according to a press release.
Bridge-enabled stablecoin-linked cards are now live in 18 countries, using crypto platforms like Phantom and MetaMask, with planned expansion to over 100 countries across Europe, Asia Pacific, Africa and the Middle East by end of year, the companies said on Tuesday.
“Expanding our work with Bridge gives us one more way to bring the speed, transparency and programmability of stablecoins directly into the settlement process. This milestone gives our partners greater choice in how they move value, and it reinforces Visa’s role as a trusted network connecting stablecoins and the global payments ecosystem,” said Visa’s head of crypto Cuy Sheffield.
Bridge cofounder Zach Abrams said the expansion with Visa will enable businesses launching their own custom stablecoins to use them seamlessly within their card programs.
- Cardano (ADA) dips below $0.27 amid whale selling and bearish market sentiment.
- Hoskinson slams CLARITY Act as harmful to crypto innovation.
- ADA eyes $0.28 support and $0.30 resistance levels.
Cardano (ADA) has seen its price dip below the $0.27 mark, continuing a recent streak of selling pressure.
The cryptocurrency is currently trading around $0.2646, down nearly 3% over the past 24 hours.
Bitcoin-denominated value has also decreased, reflecting broader market weakness.
Notably, this decline comes as ADA battles multiple resistance levels while trying to hold its long-term support near $0.28.
Charles Hoskinson’s statement about the CLARITY Act
Adding to market uncertainty, Charles Hoskinson, founder of Cardano, has publicly criticised the CLARITY Act.
While some executives see regulatory clarity as a positive step, Hoskinson’s stance highlights concerns that the CLARITY Act may inadvertently hinder growth and limit competition within the American crypto market.
Hoskinson called the proposed legislation “horrific” and warned it could stifle innovation in the cryptocurrency space.
Hoskinson argues that the bill would categorise most digital assets as securities by default.
He believes this framework could give regulators excessive power and place unnecessary burdens on future crypto projects.
According to him, while established networks may be grandfathered in, new developers could be forced to operate abroad to avoid restrictive US rules.
On-chain shows whales offloading ADA holdings
On-chain data from Santiment confirms that whale activity has also been a significant factor in ADA’s recent price movements.
Both mid-tier and large holders have reduced their exposure, creating a supply surge that the market has struggled to absorb.
At the same time, futures markets indicate negative funding rates, showing that bearish sentiment dominates derivatives trading.
Retail investors attempting to buy the dip have been unable to counterbalance these outsized moves.
Cardano Price Outlook
For traders and investors, several levels are crucial to watch.
The immediate resistance lies near $0.29 to $0.30, reinforced by descending trendlines and moving averages.
Breaking above this zone could open the door for a short-term recovery.
On the downside, Cardano’s historical price context shows that the $0.28 region is a critical support zone.
This level has repeatedly acted as a floor in past downtrends, making it a key point to monitor.
Failure to hold $0.28 would expose the next support around $0.25, with deeper levels near $0.24 if selling continues.
A break below these points could signal a continuation of the downtrend and test historical lows around $0.21 to $0.18.
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