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The cryptocurrency market seems to be facing a major correction. Dogecoin (DOGE) and Cardano (ADA) have registered substantial price dips in the last 24 hours. Dogecoin’s (DOGE) price is down 11.9% in the daily charts, but has maintained gains in the other time frames, as highlighted by CoinGecko’s DOGE data. Source: CoinGecko ADA, on the other hand, is down 9.8% in the last 24 hours. Like DOGE, ADA is also in the green zone in the other time frames. Source: CoinGecko Why are Dogecoin, Cardano, and Other Cryptocurrencies Down Today? Source: CoinMarketCap The cryptocurrency market experienced one of its most significant rallies in recent times, earlier this month. Bitcoin (BTC), Binance’s BNB, and Ripple’s XRP hit new all-time highs amid a market-wide surge. The current dip could be due to investors booking profits after the recent upswing. According to CoinGlass data on BNB, almost $908.48 million was liquidated from the crypto market in the last 24 hours. Also R...

A cryptocurrency whale has realized a $2 million loss, despite holding Ethereum (ETH), one of the top-performing assets over the past month. The unidentified trader offloaded 10,543 ETH worth approximately $26.1 million at an average price of $2,476 per coin, resulting in a $2 million loss in a sale executed in two days, according to the latest on-chain data retrieved by Finbold from Lookonchain on May 17.  Details of the transaction show that the ETH was sold through a series of large swaps, most of which occurred within an hour.  The trader used 1inch, a decentralized exchange aggregator, and multiple contract interactions to convert wrapped ETH (WETH) into stablecoins like USDC and USDT. ETH whale transaction. Source: Lookonchain This selloff coincided with a slight downturn in the broader cryptocurrency market, during which Ethereum also saw short-term losses.  Rather than holding through the dip, the whale opted to exit the position, despite ...

AAVE (Aave) has recently experienced impressive bullish momentum, driven by increasing demand within the decentralized finance (DeFi) sector. However, with the current downturn in the broader cryptocurrency market, many are questioning whether AAVE can maintain its upward trajectory and revisit its recent high of $396. AAVE Key Statistics  Current Price : $371 Market Cap : $5.5 billion Trading Volume (24h): $1.32 billion Circulating Supply: 15 million AAVE Total Supply: 16 MILLION AAVE CoinMarketCap Ranking: #28 AAVE has dipped 2.76% from its recent highs over the last 30 and 7 days, yet it has showcased an extraordinary rebound, soaring by 147.49% and 60.88% from its lowest levels in the same periods. This impressive recovery highlights the coin’s growing strength and sustained bullish momentum despite a general downtrend at the time of this Analysis . AAVE/USD Market Key Levels Resistance: $396, $410, $445 Support: $345, $273, $202 AAVEUSD – ...