The Cardano price remained under pressure this week, erasing some of the gains made last week when it rose to its monthly high.Â
Cardano (ADA) retreated for the second consecutive day, reaching a low of $0.670. It has dropped by almost 10% from its highest level this week.
A potential catalyst for Cardano is that it is attracting more long-term investors, even as it remains 50% below its highest level from November last year.
Data compiled by StakingRewards shows that there was a net increase of 307 million ADA staked on Cardano. These tokens are valued at over $215 million. Most of the increase happened on April 30, when 160 million ADA tokens were staked.
Cardano now has a staking ratio of 60.65% as coins worth over $15.3 billion have been staked. This is a bigger ratio than Ethereum (ETH), which has a staking ratio of 28%, and Tron (TRX), which has 42%. A higher ratio is a sign that investors have a longer outlook for a coin.
ardano also has other bullish metrics. The total value locked in the network has jumped to $394 million, with dApps like Minswap, Liqwid, Indigo, and Splash Protocol leading the charge. The daily DEX volume on the chain has also averaged over $4 million in recent days.
Cardanoâs main catalyst is the upcoming Bitcoin (BTC) integration, which will enable Bitcoin holders to generate returns through a secure, zero-knowledge-based approach.
Cardano price technical analysis
AD price chart | Source: crypto.news
The daily chart shows that ADA has been in a downward trend over the past few months. It has fallen from a high of $1.326 in December last year to the current $0.68.
The coin has dropped below the 61.8% Fibonacci retracement level, a key level often associated with reversals. It has also fallen below the 50-day Exponential Moving Average, a sign that bears are gaining control.
Cardanoâs ongoing retreat followed a retest of the upper boundary of its descending channel. Therefore, the coin will likely continue falling as bears target the lower side of the channel at $0.513, about 24% below the current level. A move above the channelâs upper boundary would invalidate the bearish outlook.
Crypto lender Nexo is resuming operations in the United States, two years after settling a $45 million fine with the SEC.
Cryptocurrency lending firm Nexo is re-entering operations in the United States, nearly two years after settling a $45 million fine with the U.S. Securities and Exchange Commission over its unregistered lending product.
Nexo returns to the U.S. market.We are embracing renewed optimism and entrepreneurial momentum to deliver our full products to American clients in a supportive environment. ð§µ pic.twitter.com/WWF624Dr4fâ Nexo (@Nexo) April 28, 2025
In an X announcement on Monday, Nexo revealed that retail and institutional clients in the U.S. will now have access to Nexoâs products, including âhigh-yield crypto savings accounts, asset-backed credit lines, advanced trading, and institutional-grade liquidity solutions.â
Nexoâs return follows its settlement with the U.S. Securities and Exchange Commission in January 2023, after the Commission charged the company with failing to register its Earn Interest Product, a crypto lending offering marketed to U.S. investors. Nexo did not admit or deny wrongdoing in the settlement.
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The company had faced additional legal challenges. In early 2024, Reuters reported that Nexo aimed to recover $3 billion tied to a stalled criminal investigation, which disrupted its plans for a U.S. stock market listing and a soccer sponsorship deal. Nexo representatives claimed the investigation damaged the companyâs reputation and destroyed shareholder value.
In January 2023, Nexoâs offices were raided by prosecutors who accused the platform of money laundering, tax crimes, and computer fraud between 2018 and January 2023. Nexoâs management denied all charges.
In December 2023, the Bulgarian Prosecutorâs Office closed the criminal case, stating that investigators had found no evidence of money laundering, tax evasion, or other crimes.
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