hodler

9 Jun 2026, 08:34

Here’s why Cardano price has crashed and erased $84 billion in value

Cardano (ADA) price has crashed deeper than other altcoins this year, and is now hovering near its all-time low. It was trading at $0.1660 on Tuesday, down sharply from the record high of $3. This retreat has erased over $84 billion in value as the market cap has dropped from over $90 billion to $6 billion today. Cardano price has crashed amid ghost chain claims ADA price has been in a strong downward trend for a long time. After peaking at $3 in 2021, it has continued its strong crash, with all rebounds becoming good selling opportunities. The ongoing Cardano price crash is mostly because it has become a ghost chain who few people use. This is a big issue because Cardano was envisioned as the next big thing in the crypto industry. At some point, it was widely seen as the best alternative to Ethereum, a blockchain project that was once known for its slow speeds, high carbon emissions, and high transaction costs. Years later, Cardano has become a ghost chain. Developers have fled and users have largely abandone it. It has also been overtaken by other chains that launched years after Charles Hoskinson started it. A good example of this is in the decentralized finance (DeFi) industry, where Cardano has a total value locked (TVL) of less than $100 million. In contrast, Ethereum and Solana have billions of dollars in value. Cardano has just $35 million in stablecoin supply, a tiny amount in an industry with over $317 billion. It has no market share in the booming Real-World Asset (RWA) tokenization industry. As a result, data shows that the network is no longer making money. According to DeFi Llama, data shows that the network has made just $374,000 this year, a tiny amount for a crypto project worth over $6 billion. These metrics explain why no company has filed for a spot Cardano ETF despite its market capitalization. Efforts to save Cardano are not working There are signs that efforts to save Cardano are not working. For example, Charles Hoskinson and the team launched Midnight, a privacy-focused blockchain project. NIGHT, its token, saw its market capitalization jump to over $1.4 billion, a figure that has retreated to $533 million. There are signs that activity in Midnight has largely stalled and there are no major dApps in the ecosystem. Cardano also launched a major project to attract developers. For example, it launched a partnership with Pyth Network, a major player in the oracle space. Still, despite this, developers have not moved to the network. Cardano is also working on the Leios upgrade, which aims to make it a faster network by introducing parallel processing. Still, it is unclear whether developers will embrace the network ADA price technical analysis Cardano price chart | Source: TradingView The weekly chart shows that ADA price has crashed in the past few months. It formed a head-and-shoulders pattern, a common bearish reversal sign in technical analysis. The coin has slumped below all moving averages and is now hovering at the neckline. It has moved below the Ichimoku cloud indicator. Therefore, the token will likely continue falling in the near term. If this happens, the next key target to watch will be at $0.1500. The post Here’s why Cardano price has crashed and erased $84 billion in value appeared first on Invezz

9 Jun 2026, 08:32

Bitcoin On Ethereum? Circle Launches cirBTC on ETH Targeting $9B WBTC Market

Bitcoin News: Circle has launched cirBTC, a 1:1 BTC-backed ERC-20 token now live on Ethereum mainnet, positioning it directly against WBTC’s roughly $9 billion market and approximately 85% market share with a feature its competitors do not offer: real-time on-chain reserve verification with no reliance on third-party attestations. The product went live June 8, 2026, and is built exclusively for institutional participants, OTC desks, market makers, lenders, and DeFi protocols deploying Bitcoin as collateral inside Ethereum-based smart contract ecosystems. cirBTC is live on @ethereum . Circle helped establish the institutional standard for dollar collateral with USDC. Now cirBTC brings that same approach to Bitcoin, bringing 1:1 BTC-backed collateral to institutional DeFi markets with neutrality, transparency, and Circle… — Circle (@circle) June 8, 2026 The competitive target is explicit. BitGo’s Wrapped Bitcoin has dominated tokenized BTC since its January 2019 launch, and Coinbase’s cbBTC has emerged as the primary institutional challenger since September 2024, reaching approximately $5.9 billion in market value. Circle is entering that race with a specific transparency argument and the institutional trust built over years of USDC issuance. Bitcoin (BTC) 24h 7d 30d 1y All time Bitcoin News: cirBTC’s Reserve Verification Model, What Real-Time On-Chain Proof Actually Means The core technical differentiator is Chainlink Proof of Reserve. Each cirBTC token issued as an ERC-20 on Ethereum is backed by native Bitcoin held in segregated regulated custody, and counterparties can verify that backing in real time through multiple wallet addresses visible directly on the Bitcoin blockchain, no waiting for monthly audits, no relying on custodian claims, no off-chain attestation lag. This is structurally different from the WBTC model, where BitGo operates as the sole custodian and publishes wallet addresses for manual verification, but reserve confirmation still depends on BitGo’s centralized control and governance multisig for contract changes. Tokenized Bitcoin – programmable and composable digital gold. https://t.co/XVCXVzLfLi — Jeremy Allaire – jerallaire.arc (@jerallaire) June 8, 2026 The RenBTC wind-down and broader criticism of custodial bridge opacity established the trust gap Circle is explicitly targeting. Chainlink’s automated feed closes the verification loop at the contract level rather than at the audit cycle. Bitcoin assets are kept separate from Circle’s corporate holdings, and minting and redemption run through Circle Mint, its institutional liquidity management platform. The same infrastructure that powers USDC settlement rails is now extended to wrapped Bitcoin collateral, allowing firms to hold native BTC in custody while cirBTC moves through on-chain financial applications without ever selling the underlying position. Discover: The Best Crypto to Diversify Your Portfolio The $15–20B Tokenized BTC Market: Where cirBTC Fits Against WBTC and cbBTC The total tokenized Bitcoin supply across all wrapped products sits at approximately $15–20 billion in Q2 2026, still under 2% of Bitcoin’s roughly $1.7 trillion market capitalization. That number is either a ceiling that reflects structural barriers to institutional DeFi adoption or an enormous runway. The evidence points firmly toward runway: institutional demand for Bitcoin exposure in regulated on-chain formats has accelerated materially since 2024, and the products capturing that demand are precisely the regulated, exchange-native wrappers cirBTC is competing against. Jeremy Allaire just said it directly. cirBTC (Circle's wrapped BTC) went live on Ethereum today. His next post: "Arc is next." Arc Network — Circle's stablecoin-native L1. $222M raised. a16z, BlackRock, Apollo. 244M+ testnet transactions. My scanner flagged Arc in April.… — Andrew (@phntomass) June 9, 2026 WBTC holds approximately 119,000 tokens in circulation at roughly $8–9 billion market cap, controlling close to 85% of the wrapped BTC segment. cbBTC trails at approximately $5.9 billion but has grown faster than any comparable product since launch. Other exchange-backed offerings, Kraken Wrapped BTC, Binance Wrapped BTC, Bitget Wrapped BTC, OKX Wrapped BTC, collectively hold the remaining margin. Circle’s entry does not change the market structure overnight, but it introduces a credentialed issuer with an existing institutional distribution network that none of those exchange-native products can fully replicate. Circle’s stated structural advantage over cbBTC and exchange-issued wrappers is neutrality: it does not operate a centralized exchange, DEX, or lending protocol. Institutions using cirBTC as DeFi collateral are not simultaneously providing liquidity intelligence to a competing trading desk. That separation matters to prime brokerage clients and multi-venue market makers who treat information leakage as a material risk. Discover: The Best Token Presales The post Bitcoin On Ethereum? Circle Launches cirBTC on ETH Targeting $9B WBTC Market appeared first on Cryptonews .

9 Jun 2026, 08:30

Bitcoin Near $63.5K Is Hovering at What It Costs to Mine BTC, Leaving Miners at Break-Even

Bitcoin is changing hands near $63,500, a level analyst Charles Edwards says lines up with the network’s average production cost, i.e. the threshold where the typical miner stops turning a profit. Miners Squeezed to the Break-Even Line The recent selloff has dragged bitcoin back to a price band that has historically marked long-term value. In

9 Jun 2026, 08:29

Solana Price Prediction: SOL Holds $50-$81 Zone as Bulls Eye Recovery

Solana is back inside a major Fibonacci accumulation zone that previously came before a huge rally. Analysts now say the $50-$81 region must hold for SOL to build a recovery setup toward higher targets. Solana Re-Enters Historic Fibonacci Accumulation Zone That Previously Preceded a 2,200% Rally Solana (SOL) is trading inside a key Fibonacci retracement area that previously served as the foundation for one of its strongest bull-market advances. According to Crypto Patel, SOL has returned to the 0.5-0.618 Fibonacci retracement zone, an area that preceded a rally of more than 2,200% during the previous cycle. Solana Weekly Chart (SOL/USD). Source: Crypto Patel on X The chart highlights the current accumulation region between roughly $50 and $70, with SOL trading near the same Fibonacci levels that supported the market before its breakout in 2023. During that period, Solana spent months consolidating inside the zone before breaking above long-term resistance and beginning a major uptrend. According to the analysis, the current structure shares similarities with the previous setup. The chart shows SOL revisiting the 0.5 Fibonacci level near $70.30 and the 0.618 Fibonacci level near $50.02, both of which form the core of the highlighted accumulation zone. The chart also identifies several important levels above the market. Initial resistance sits near $98.60, while a larger resistance area appears around $297, where Solana previously struggled to maintain upward momentum. Beyond those levels, the analyst outlines a long-term scenario that could eventually target the $1,000 region if a new altcoin cycle develops. For now, the focus remains on whether buyers can continue defending the $50-$70 support area. While the historical comparison highlights similarities to the previous breakout setup, SOL remains below major resistance levels and has yet to confirm a new bullish trend. The current Fibonacci zone remains the key area traders are monitoring as the market searches for a longer-term direction. Solana Holds Critical Support Zone as Analyst Sees Recovery Potential Despite Broader Market Risks Solana (SOL) is trading near a major support area after a sharp market correction pushed the token back toward levels that previously acted as key turning points. According to analyst Hardy, SOL appears oversold and may be preparing for a recovery as long as broader market conditions remain stable. The monthly chart shows Solana consolidating near the $66-$81 range, an area highlighted as an important support zone. After falling from its recent highs, SOL has returned to levels that historically attracted buying interest during previous market cycles. Solana Monthly Chart (SOL/USDT). Source: Hardy on X According to the analysis, Bitcoin's recent decline and recovery, combined with rising Bitcoin dominance, could continue putting pressure on many altcoins. However, Hardy argues that Solana has already absorbed much of the recent weakness and is showing signs of stabilization compared with other assets. The chart also projects a potential recovery path if support continues to hold. Several upside targets are highlighted above the current price area, suggesting the analyst expects bullish momentum to gradually return if market conditions improve. The main downside risk remains a broader market deterioration led by Bitcoin. According to the analysis, a move toward the $33-$40 region represents a worst-case scenario for Solana, but such a decline would likely require a significant Bitcoin selloff and a much weaker overall crypto market environment. For now, the focus remains on the current support zone between roughly $66 and $81. As long as Solana holds this area, the chart continues to favor stabilization and a potential recovery attempt rather than an immediate move to lower levels.

9 Jun 2026, 08:28

XRP plunges 68 percent from 2025 peak to $1.14

🚨 XRP crashes 68 percent from its 2025 high to $1.14. 📉 Selling pressure grows as $1 becomes the next key zone for $XRP. 🔍 On-chain trends are mixed, with rising whale wallets but weaker asset activity. Continue Reading: XRP plunges 68 percent from 2025 peak to $1.14 The post XRP plunges 68 percent from 2025 peak to $1.14 appeared first on COINTURK NEWS .

9 Jun 2026, 08:22

Ethereum Price Prediction: ETH Bear Trap Builds as MVRV Flashes Accumulation

Ethereum has entered a historical accumulation zone after falling below the 0.8 MVRV Pricing Band. At the same time, traders are watching whether ETH can reclaim $1,750 and turn the latest breakdown into a bear trap. Ethereum Enters Historical Accumulation Zone as MVRV Signal Flashes Again Ethereum (ETH) has fallen below the 0.8 MVRV Pricing Band, a level that historically appeared near major market bottoms. According to Ali Charts, previous drops into this zone often marked periods of long-term accumulation before larger recoveries developed. Ethereum MVRV Pricing Bands Chart (ETH/USD). Source: Ali Charts on X / Glassnode The MVRV Pricing Bands model compares Ethereum's market value with its realized value to identify areas where the asset may be overvalued or undervalued. ETH is currently trading near $1,689, below the 0.8 MVRV band at $1,828, placing the asset in a region that has repeatedly attracted buyers during past bear market phases. The chart highlights several previous instances where Ethereum moved into or below the 0.8 MVRV band. In many of those cases, the market later formed significant bottoms before beginning new upward cycles. The black arrows on the chart mark these historical accumulation periods. Several key valuation levels remain in focus. The realized price sits near $2,285, while higher MVRV bands are located around $5,485 and $7,314. Historically, ETH has spent extended periods near lower MVRV bands during market stress, while higher bands often coincided with stronger bull market conditions. Although the signal does not confirm an immediate reversal, the current setup places Ethereum in one of its historically strongest accumulation zones. Market participants are now watching whether ETH can reclaim the 0.8 MVRV band and move back toward its realized price, or whether the asset will continue consolidating below this key on-chain valuation level. Ethereum Reclaim of $1,750 Could Turn Breakdown Into Bear Trap Ethereum is trying to recover after breaking below a major trading range. According to Daan Crypto Trades, a move back above $1,750 could turn the drop into a deviation and reopen the path toward $2,000. Ethereum Daily Chart (ETH/USDT). Source: Daan Crypto Trades on X The chart shows ETH falling below the former range low near $1,748.60 before bouncing from the $1,500 area. That level now acts as the main resistance zone for bulls to reclaim. If ETH retakes and holds above $1,750, the breakdown could become a bear trap. In that case, the analyst says ETH could start targeting the $2,000+ region again. However, the bearish structure remains active below that level. A failed reclaim would create another lower high and keep Ethereum inside its current downtrend.