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The crypto market is currently on a downtrend due to recent macroeconomic events. As a result, every coin’s prices are at a volatile precipice. While some coins are making bullish runs in bursts, or some have confirmed their bearish outlook. ADA, native coin of the Cardano blockchain, is a coin that just confirmed its bullish outlook. Sources suggest that the latest whaling activity has resulted in this bearish outlook. ADA Current Price Momentum Source: Trading View During the Asian Trading session, ADA showed some bullish rally. Experts believed that this was the coin’s attempt to recover its price. However, the coin plummeted again and was testing the support level of $0.65. This has certainly put people on edge and that can increase the general selling pressure. At press time, ADA is trading near the $0.65 support level. The token has experienced a moderate price drop of 0.85%. In the last 24 hours. At the same time, the overall trading volume of the coin fell by 5.5%. Therefore, indicating a lower level of participation by investors. ADA Key Levels & Price Action ADA appears bearish as it has breached and closed a candle below the $0.65 support level. Based on historical price trend, ADA might decline by 30% and reach the $0.425 if this continues. The 200 Exponential Moving Average (EMA) also shows that the token is on a downtrend, which is not a good sign. At the moment, the best move is to start selling, if you want to recover anything. Or, you can choose to wait out the storm. Adding fuel to the fire, reports suggest that crypto whales have flushed around 170 million ADA tokens in just 96 hours. Therefore, this is another reason that could sustain the bearish momentum of the token. This can put the token in a compromising situation where it might eventually lose its value. The post Cardano (ADA) Price Forecast for February 28: What’s Next for ADA? appeared first on Coinfomania.

Just a few days back, Bybit was hit by one of the biggest crypto thefts in the market’s history. Allegedly, a North Korean group called the Lazarus Group stole 1.45 billion USD worth of ETH and used a third-party swapping platform to turn them into BTC. This shocked the world and exposed the weak spots in the security of the digital asset industry. In a similar event, a hacker managed to drain more than $4 million from the public crypto wallet of Mask Networks founder Suji Yan. Yet Another Hack Reports say that Suji Yan went to a party where they kept their phone briefly unattended. This could be the window the hacker used to access the wallet. On social media, Yan posted, “I was in a private gathering with [a] dozen friends, and my phone was away for some minutes when using the restroom.” He added, “I trust my friends but this is a nightmare to anyone.” The aftermath of the hack was truly horrible. Reports from CoinMarketCap suggest that as soon as the news of the hack spread, the share price of Mask Network fell to $2.23. This marks a 7% drop in share price in just 24 hours. This shows the magnitude of the hack. The market is already on a bearish slump and such news of hacks and breaches is like fueling the fire. Chainanalysis commented on the matter saying, “Crypto crime isn’t just growing — it’s fundamentally transforming… What once revolved primarily around cybercrime has expanded into a vast, sophisticated illicit economy deeply intertwined with national security, geopolitical conflicts, and transnational criminal enterprises engaged in drug, human, and wildlife trafficking, as well as violent crime.” Hence, it is high time that regulatory bodies also revise the security checks to make the crypto landscape more secure for investors and holders. The post Yet Another Hack: $4 Million Worth Fun Siphoned Out Of Mask Network Founder’s Wallet appeared first on Coinfomania.

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