Crypto Surge: ADA and MATIC Shine After U.S. Spot Bitcoin ETF Approval

The much-anticipated approval of Spot Bitcoin ETFs in the U.S. has made a significant impact on the entire cryptocurrency space. The SEC’s approval marked a milestone, boosting daily Bitcoin trading volume to $52 billion. Altcoins like Cardano (ADA) and Polygon (MATIC) witnessed substantial gains.

Cardano (ADA) Overview: ADA has attracted attention with a $3.7 million inflow, and its DeFi ecosystem has surged from $50 million to over $400 million. ADA’s current live price range is $0.56 to $0.60, boasting a 100% surge in 24-hour trading volume. Technical indicators suggest a bullish sentiment, with potential profit-taking in the overbought zone.

Cardano (ADA) Price Prediction: With positive indicators and recent fund inflows, ADA’s bullish trend is evident. The next targets are $0.688886 and $0.837741, but caution is advised around the $0.540031 pivot point. Overbought signals may lead to a slowdown, and support may be found at $0.442955.

Polygon (MATIC) Overview: Polygon’s collaboration with Nomura marks a milestone, driving its price to $0.88 – $0.95 with an 11% weekly increase. Currently the 13th most valuable crypto, MATIC’s RSI suggests strong buying momentum. The MACD calls for buy action, and moving averages support a bullish trend.

Polygon (MATIC) Price Prediction: MATIC’s positive outlook is fueled by recent surges and strategic partnerships. Upside targets are $1.140598341 and $1.417451792. Caution is advised, with an eye on the support level at $0.694236244.

Conclusion: The cryptocurrency landscape is evolving with the landmark approval of a spot ETF in the U.S. Bitcoin’s ripple effect has significantly impacted Cardano and Polygon, showcasing potential for growth. While indicators are positive, investors must stay vigilant amidst market fluctuations


Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

Follow Us

Top Selling Multipurpose WP Theme


Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!


Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Skip to content