Is Cardano DEAD? (This Is BAD)

“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 shop for Cardano NFTs. They are 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.”

“Cardano does have some good news. It isn't all bad news out there. Cardano stablecoin market cap has tripled over the past year. You can see a huge jump after they implemented USDC's USDCX stablecoin. And we've seen a lot of hacks on Ethereum and seen some issues with Solana DeFi as well. Cardano, hack free.”

“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 l ones seeing hacks left and right, this should be a positive catalyst moving forward. But having zero hacks isn't gonna lead to immediate green pumps. But over the long term, it should be seen as a benefit for the larger crypto ecosystem.”

“Now first thing, we are bouncing at the exact support level that helped ADA bounce 90200% before, and I'm talking about this level right about 24¢. And you can see right there, right at 24¢, we bounced 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 has had a nice move lately, moved 4% in twenty four days, which for Bitcoin dominance is a lot because we're looking at, you know, high, high levels. We're talking about trillions of dollars here, and we passed this 60% resistance area. You see, we rejected, rejected, rejected, shot past it very cleanly. But I do have a warning. Look at the last two times we shot above 60% Bitcoin dominance.”

“And we are seeing signs that we are about to see an alt season breakout. 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?”