Cardano price struggles to break resistance as ADA faces downward pressure. Meanwhile, Unilabs launches passive income tools

This dip was followed by a 38.74% decline in ADA's 24-hour trading volume. The token price is experiencing major downward pressure around $0.74, as it has struggled to break this level.

The Cardano price (ADA) slid by 0.60% in the past 24 hours. This follows a 38.74% decrease in ADA’s 24-hour trading volume. The token price is now experiencing major resistance around the $0.74 level, as it has struggled to break above it.

Analysts suggest that if the ADA price fails to pierce through this resistance, it might slip further to $0.63 or even $0.50. However, from a technical perspective, the Relative Strength Index (RSI) and the MACD are both indicating the potential for an upward trend in the Cardano price.

One possible reason behind the Cardano price dip could be the recent allegations. NFT artist Masato Alexander claimed that Cardano’s Charles Hoskinson swindled $619 million in ADA tokens at the time of the 2021 Allegra hard fork, making it “one of the greatest unknown heists in crypto history.”

However, Hoskinson has since denied these allegations. He also added that the Cardano Foundation is currently undergoing an audit, and they would soon release a report to debunk these claims.

The results of these audits could play a role in the trajectory of the Cardano’s price. If the audit clears the project of these accusations, investors’ confidence could be restored, potentially triggering a strong rebound in Cardano. But if the findings raise further concerns, ADA may continue in its recent downtrend.

Unilabs launches passive income tools and high-yield USDT savings account

While the Cardano price trend is yet to spark market optimism, Unilabs is assisting investors in the crypto space with launching new passive income tools. The project features numerous tools that make it easy for users to earn crypto passively with little or no trading knowledge.

In a bid to simplify generating passive income, Unilabs highlights its Stablecoin Savings Account. This account is designed to keep digital assets, like USDT, linked to the U.S. dollar, and moves investors’ funds into secure and high-yield opportunities in DeFi. As such, users can worry less about market swings affecting their investments.

Moreover, seasoned investors could also benefit from the platform offerings. Unilabs introduced the flash loan accelerator to allow investors to take advantage of arbitrage. Traders can buy digital assets at a low price on one exchange and sell them at a high price on another, keeping the price difference as profit.

Even more, the whole transaction is completed in a single atomic step, and if the user doesn’t repay the loan immediately in that same transaction, the system cancels the entire deal automatically. With this system, traders could better manage their investment capital and make more complex trades without risking their own funds.

Unilabs presale rapidly approaches goal with 30% bonus for early investors

The Unilabs presale is on track to become one of the leading ICOs in 2024. In just a few weeks of its launch, the UNIL presale has already raised over $1 million, selling over 232 million tokens. With each token available at the low price of $0.0062, early investors could be set for impressive returns as the project grows.

The UNIL token holders can get passive returns through the platform’s 30% fee redistribution process. This means that the more tokens an investor buys during the presale, the higher their share of the revenue pool will be.

To sweeten the deal, investors who purchase the UNIL token using the ‘UNIL30’ code will receive a 30% bonus on all deposits. This exclusive offer is available for just seven days.

With the Cardano price slipping and ADA holders seeking new opportunities, many are turning toward UNIL tokens for their passive income and growth potential.

The post Cardano price faces fresh market resistance amid serious allegations, Unilabs launches passive income tools and high-yield USDT savings account appeared first on Crypto News.