Cardano ADA News: Market Turmoil Following Bybit Hack, But Cardano Holds Critical Support at $0.67

The cryptocurrency market experienced significant volatility following the Bybit hack, but Cardano has managed to maintain its critical support level at $0.67, indicating potential for a sustained bull run.

Cardano's Critical Support at $0.67 to Sustain Bull Run

Cardano is trading above key demand levels after a volatile Friday saw prices react sharply to the Bybit $1.5+ billion hack news. The market-wide panic took prices from local highs to critical demand zones, with Cardano dropping over 7% in less than six hours. However, Bybit’s quick response and assurances have helped restore confidence, preventing a more aggressive selloff. Despite the turbulence, Cardano remains above crucial support between $0.67 and $0.80, suggesting that bulls are still in control.

Institutional Investors Are Bullish On Cardano, While Whales Accumulate FloppyPepe

The cryptocurrency market is seeing a trend where institutional investors like hedge funds are focusing on established players such as Cardano (ADA) due to its scalability, sustainability, and security. However, crypto whales are accumulating a low-profile token, FloppyPepe (FPPE), which is predicted to offer significant returns.

ADA Coin Price: $1.16 Breakthrough Anticipated

The crypto community is anticipating a Cardano (ADA) breakout. With the ADA coin price currently above $0.8, it's approaching a critical point. Experts predict it could soon reach and surpass the $1.16 mark. Some investors are seeking immediate returns through 1Fuel, a presale project offering a 40% bonus gain within the next 24 hours for early investors.

Cardano Price Prediction and Market Analysis

Cardano [ADA] fell to an ascending trendline with a history of triggering price reversals. Large transactions volume dropped by 8%, hinting at reduced whale participation. Despite a $1.4 billion crypto hack affecting Bybit and the overall market, ADA remained stable above the crucial support level. Over the last 24 hours, the altcoin dropped by 4% to trade NEAR $0.76, but trading volume surged by 50%, indicating heightened trader and investor participation.