Crypto Markets Update: BNB Targets $790, ADA Tests Key Support, and BlockDAG's NBA Partnership Sparks Anticipation: Could BlockDAG Be the Next Crypto To Skyrocket?
When a crypto project starts flirting with a major NBA team partnership, it's time to keep an eye on it. BlockDAG might just be hinting at a move that could skyrocket its growth at the right moment. alongside Binance Coin (BNB), its technical analysis points to a potential breakout at $790, strengthened by a record $187 billion in DEX volume. On the flip side, Cardano (ADA) seems to be on a downward spiral, struggling to hold above $0.6626 after a wave of liquidations worth more than $900K.
Meanwhile, BlockDAG isn't just gaining attention for its potential NBA deal. The project has already raked in $291 million in its presale, with over 22.1 billion coins sold. Even better, at the time of our report, buyers can still get in on the action at just $0.0018 until July 13. Since batch 1, the BDAG price has soared 2,520% ROI, showing early investors are backing this project.
It's not just easy money drawing people in; BlockDAG's tech is legit too. By combining DAG and blockchain elements, it offers quick, cost-effective transactions, and already has more than 1.5 million users mining it through the X1 app. With 17,700 ASIC miners sold, the team's laying down the groundwork for scaling. The big announcement for "GO LIVE" is due on June 13, suggesting BlockDAG is gaining serious momentum.
Moving on to Binance Coin (BNB), its technical analysis points to a potential breakout at $790. With a current price of $668, BNB has gained 11% over the last month. Network activity is booming with daily new addresses jumping 26% in one day to 589,657 and transaction fees peaking at 933.23 BNB—the highest seen since May 21. May's on-chain DEX volume registered an impressive $187 billion, surpassing Ethereum in total value moved.
The surge in activity supports a breakout setup. If BNB surpasses the $691 resistance level, analysts see room for a run-up to $790. However, the market remains divided, with derivatives traders still bullish, but spot sellers raking in $2.61 million in profits over 24 hours. This divergence could be key in determining whether BNB moves up or down next.
Cardano's (ADA) price action, on the other hand, is showing signs of weakness. After losing the $0.6840 support, ADA could slide down to $0.65 or $0.62 if selling pressure continues. Over $900,000 in long positions were liquidated in 24 hours, illustrating that bullish traders are reporting losses despite a long-to-short ratio of 2.57.
Cardano stats also indicate caution. The Total Value Locked has dropped to $318 million, and the MVRV 30-day ratio sits at -6.8%, meaning short-term buyers are mostly in the red. Rising profit-taking and increased Age Consumed figures suggest a surge in coin movement, suggesting ADA will likely remain under pressure unless the bulls reclaim ground quickly.
So, which crypto could be the one to explode? While Binance Coin's (BNB) technical analysis shows upside potential, and Cardano (ADA)'s action remains strained, BlockDAG is generating excitement. The buzz around the NBA partnership, combined with solid fundamentals like successful fundraising, a low entry price for early buyers, and high-profile collaborations, make BlockDAG a strong contender for explosive growth.
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- The excitement surrounding BlockDAG's potential NBA partnership, combined with its solid fundamentals such as successful fundraising, a low entry price for early buyers, and high-profile collaborations, position it as a strong contender for growth not only in the finance sector but also in the entertainment industry, given the potential crossover between sports and crypto.
- While Binance Coin (BNB) shows upside potential and Cardano (ADA)'s action remains strained, the intersection of finance, entertainment, and sports in BlockDAG's venture could make it the crypto to explode, promising explosive growth in multiple sectors.
