Accoridng to the latest reports coming from an important crypto analytics firm, Cardano’s coin ADA is showing some strong surging signs. Check out the latest news below.
ADA is on its way up
Crypto analytics firm Santiment said that the average funding rate of Cardano (ADA) is flashing a bullish signal.
As noted by the online -publication the Daily Hodl, Santiment reveals that a high funding rate is associated with higher risks of correction, whereas ADA currently has the opposite.
“Cardano’s price is back over $0.50, and up +25% the past ten days. Exchange funding rates are a vital metric to keep an eye on, as the extreme spikes in #shorting or #longing of ADA is typically when traders get liquidated & big price shifts occur.”
At the time of writing, ADA is currently trading at $0.46.
XRP price prediciton addressed by Santiment as well
Santiment is also telling investors to keep a close eye on XRP as the seventh-largest crypto asset by market cap sees a spike in transaction volume.
“XRP is ahead of the #altcoin pack recently, and some major milestones have hit over the past week. In addition to several massive active address spikes firing off, there have been massive dormant tokens shifting addresses this week. Keep a close watch.”
Ripple makes new move in XRP lawsuit
The latest news reveal that according to the latest reports, the crypto attorney James K. Filan, who has been chronicling the SEC versus Ripple case since December 2020, shared a copy of an SEC request to block drafts of a speech given by the agency’s former Director, William Hinman, from being made public.
The notes say that in a letter to US District Judge Analisa Torres written on behalf of the SEC, attorney Ladan F. Stewart requests permission to file a pair of briefs objecting to the recent decision by Judge Sarah Netburn compelling the SEC to turn over a draft of Hinman’s 2018 speech.
Check out our previous article in order to learn more details about all this.