After a resilient performance on Tuesday, the crypto market buckled under the strong bearish sentiments created by the SEC’s hawkish regulatory actions. Bitcoin fell below the $27K mark, while Ethereum is barely holding on to $1.8k.
Once again, Cardano is taking the major brunt of the widespread FUD in the market. The 7th largest cryptocurrency fell almost 10% over the last week, with most of the loss coming in the last 2 days. Experts are now gravely concerned over the long-term prospects of ADA.
While Cardano’s future remains murky, the yPredict sees growing demand for traders, with the new AI token having now raised over $2 Million. Let’s take a look at Cardano’s prospects for this month and why traders are backing yPredict to outperform the wider bear market.
Cardano Price Prediction Remains Bearish in June, Legal Troubles Ahead
Cardano remains one of the most volatile assets, even by the standards of the cryptocurrency market. ADA is currently trading 90% below its all-time high of $3.09 that it reached on the 2nd of September, 2021.
The token’s current troubles can be attributed to the SEC suing Binance and Coinbase, two of the largest crypto exchanges in the world. The top watchdog alleged that these exchanges were operating illegally and offered the sale of those crypto tokens that are unregistered securities. One such token mentioned in the lawsuit is Cardano.
If the SEC is able to prove in court that ADA is a security, it will deal a major blow to the entire crypto industry. Experts believe that Cardano may have to deal with suffocating regulation, which will bring down its value.
The CEO of Cardano Foundation, Frederick Gregaard, has strongly objected to the SEC’s labeling of ADA as security and hopes to work with lawmakers to achieve legal clarity. However, that did not stop investors from panic selling the token as ADA slipped over 7% in the last 24 hours. It is currently trading at $0.32.
Cardano saw its trading volume surge 31% to $396 million over the last 24 hours. While this can be a sign of increased investor enthusiasm, in Cardano’s case, it most likely reflects whales and smart money investors reducing their ADA holdings.
The token is also likely to face more selling pressure as the US Federal Reserve is set to make its next interest rate decision next week. Yesterday’s surprise hike by Canada’s central bank has created doubt in investors who fear that the Fed may continue with its hawkish stance as well. If true, Cardano is set to face another major correction.
ADA enthusiasts are hoping that the upcoming Hydra upgrade can kickstart a relief rally.
Nevertheless, the token’s technical analysis reveals slim chances of any recovery in June. TradingView, a technical analysis platform, gives a SELL signal to the ADA in the daily time frame. The token is underperforming with 14 out of the 15 most important moving average indicators.
Revolutionary AI Token yPredict Turns Heads as Presale Hits $2 Million
Cardano’s recent performance has resulted in investors looking for high-utility tokens that can outperform the bear market. As a result, the YPRED token is seeing skyrocketing demand as it has raised $2.18 million so far in its presale. The MATIC-based token is currently at $0.09 but is quickly surging to its $0.12 launch price.
The crypto market is becoming increasingly prone to patternless price fluctuations and extreme volatility. Fortunately, the yPredict trading platform is harnessing the power of artificial intelligence and predictive trading to navigate these conditions and help traders make informed decisions.
The yPredict all-in-one ecosystem offers a wide variety of tools for traders with all levels of experience. For example, the free-of-cost yPredict Predictions tool offers accurate price predictions for thousands of securities and crypto assets to all YPRED holders. Similarly, yPredict Analytics is utilizing sentiment analysis, transaction analysis, and pattern recognition to offer meaningful insights to traders.
The yPredict Marketplace is the flagship product of the company that allows AI/ML experts to publish cutting-edge predictive models. Traders can subscribe to these models and gain an unbeatable edge by anticipating market volatility. Pro traders can utilize the sophisticated Terminal trading engine to execute their trades in optimal time.
The YPRED token has one of the most lucrative reward structures of any recently launched token. Aside from heavy discounts on yPredict services, holders can earn up to 45% quarterly staking rewards. Interested investors can acquire the token by swapping ETH, USDT, or MATIC or by purchasing through bank cards.
Investors can get in on the yPredict presale now at a discounted price before it lists on exchanges later this year.
DeeLance Also Making Waves as it Looks To Disrupt $760 Billion Recruitment Industry
Another new cryptocurrency performing well despite the wider market fluctuations is DeeLance.
DeeLance is a decentralized freelancing and recruitment platform that is looking to outperform other Web2 solutions such as Freelancer and Upwork. These companies often act as middlemen, leading to a lot of frustrations for both the freelancers and clients. DeeLance seeks to offer significant advantages over them with the help of blockchain technology.
Investors are bullish on the platform due to its crucial role in the mainstream adoption of blockchain and crypto. The DLANCE token has already raised $1.28 million in the presale and is quickly moving to its target of $1.7 million.
DeeLance’s biggest advantage over other industry competitors is its user-friendly fee structure. The platform charges a minimal 10% freelancer fee and a 2% client fee. This is a significant improvement over the industry standard of a 3% client fee and an exorbitant 20% client fee.
The use of crypto payment technology also ensures that workers can withdraw their payment without worrying about any withdrawal fee or minimum withdrawal amount. Furthermore, users can take advantage of a scalable dispute resolution system and efficient escrow mechanism to ensure a hassle-free and seamless experience.
The DLANCE holders also enjoy other exciting rewards such as access to an NFT marketplace and the ability to buy land and offices in the metaverse. Investors can purchase the token through bank cards or by swapping ETH or USDT in exchange for it.
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