“Now, the project I'm talking about shutting down is JPEG Store, and JPEG Store was by far the most successful NFT platform on Cardano. They really were the one-stop shop for Cardano NFTs. They were the open sea of ADA, and they just posted this after serving the Cardano ecosystem since 2021 and sharing an incredible journey with thousands along the way, we've reached a point where the JPEG Store and common platforms have to be sunset. They will only be online until the 23rd of May, and after that, the website will be shut down.”
“Cardano stable coin market cap has tripled over the past year. You can see a huge jump after they implemented USDC's USDCX stable coin. And we've seen a lot of hacks on Ethereum and seen some issues with Solana DeFi as well. Cardano hack free. There's zero hacks when you look at Cardano's DeFi. And Cardano's always marketed itself as having robust security.”
“In the face of L1s seeing hacks left and right, this should be a positive catalyst moving forward. But having zero hacks isn't going to lead to immediate green pumps, but over the long term, it should be seen as a benefit for the larger crypto ecosystem. And we are seeing signs that we are about to see an alt season breakout.”
“First thing, we are bouncing at the exact support level that helped ADA bounce 90% and 200% before. And I'm talking about this level right about 24 cents. And you can see right there, right at 24 cents, we bounce hard in 22 and in 2023 and again potentially in 2026 Now, the first pump, like we were saying, 90%, but the second one actually pumped even harder.”
Bitcoin dominance indicates a possible altcoin season
“Look at the last two times, we shot above 60% Bitcoin dominance. And 60% Bitcoin dominance just means Bitcoin's market cap is 60% of all crypto out there. And so last time we pumped above 60%, a very quick correction. And the time before that, an even more quick correction. And if you look right here, we are starting to see a red candle on the daily.”
“Altcoin market cap is now broken out of a seven month downtrend. Gordon Gekko saying it is now showtime. This guy has almost a million followers. 846,000 to be exact. Let's go ahead and dive into the charts. But what are we seeing in the Cardano charts?”
Russia approves crypto for settling international trade
“The Russian news is breaking. Russia approves crypto use for foreign trade amidst sanctions. And that is not surprising given that Iran is demanding tankers and illustrator homos pay tolls in crypto. And these Russian rule changes primarily involve businesses, large entities, settling international trade. This isn't for the mom and pop investor. This is for major Russian corporations to use Bitcoin as their legal tender.”
“Presently, we have a node on the Bitcoin network right now. We're not mining Bitcoin. We're using it to monitor. And we're doing a number of operational tests to secure and protect networks using the Bitcoin protocol. I appreciate that, Admiral.”
Technical indicators point toward a massive Bitcoin rally
“Now, given all that bullish news between Russia and the US military, you would expect this should be kicking off Bitcoin for a mega bull rally. But what do the charts tell us? Well, I wanted to point something out because we just are now trying to flip a very, very important line. This red line right here, this is going to be the 20-week EMA or the 20-week moving average.”
Nation-state adoption marks a decade-long wait for traders
“The signal Bitcoin traders have waited over a decade for is finally here. In the last 24 hours, we have learned Bitcoin is now being used by two major world governments. Now, when you first truly get Bitcoin and finally understand it, you imagine a world where Bitcoin completely replaces the US dollar, and becomes the sole currency of the globe.”
Military identifies Bitcoin as a vital computer science tool
“And we now have the US military confirming that they see Bitcoin as a very useful tool for the global financial structure. This is the House arm committee from the day before. Bitcoin shows incredible potential as a computer science tool. We have a node on the Bitcoin network and in that protocol.”
Historical data proves 20-week EMA precedes price breakouts
“When we fall below the 200-week moving average and bounce above the 20, we never really fell much lower. We had a little bit of a wick there, but that's it. Other than that, you can see we tested the 200-week moving average, support, support, and then off into the races. Then Bitcoin had a bull run.”
