What triggered a 4% Cardano (ADA) price jump and Toncoin (TON) price surge?

Discover what led to a 4% Cardano price jump and Toncoin's price surge recently. Find out why 1.5 million crypto enthusiasts are mining on BlockDAG's X1 miner app.

The crypto bull market continues to heat up, with plenty of coins seeing impressive price surges recently.

This article will analyze two coins that have seen strong buying activity, discussing the bullish and bearish implications of their price trends.

Additionally, we will explore a different angle of the crypto landscape by examining the booming user base of a Layer 1 blockchain project.

Coins Targeted By Buyers: A Brief Analysis

The first coin we will examine is Toncoin (TON), which has seen a surge in trading activity recently.

As of August 2023, the price of Toncoin experienced a surge from $3.156 to $3.24, showcasing impressive 2.66% gains before encountering resistance.

This surge was accompanied by high trading volume of 5.46 million, indicating significant market interest in the token. However, the surge proved temporary as profit-taking emerged, leading to a 2.7% decline from peak levels.

The token found support at the $3.19-$3.20 zone, forming a potential double bottom pattern on the lower time frames.

While the surge in trading volume and price demonstrate short-term strength, the subsequent volatility highlights the speculative nature of such movements in the current market environment.

The second coin we will analyze is Cardano (ADA), which saw a 4% price jump following the launch of Cardinal, its first Bitcoin DeFi protocol.

This protocol enables Bitcoin (BTC) holders to access decentralized finance services without needing to rely on centralized custodians.

The launch of Cardinal was a significant event for Cardano, as it expands the capabilities of the blockchain and could attract a new segment of users.

This initiative was also supported by major DeFi platforms, such as MinswapDEX and SundaeSwap, which quickly integrated the new system.

Moreover, the trading volume for ADA exceeded $700 million, indicating large-scale activity in the market.

However, despite this initial optimism, the long-term success of Cardinal will depend on actual user adoption and technical performance rather than initial excitement.

Another Angle: BlockDAG’s X1 Miner App Hits 1.5M Users

While the price movements of coins often grab headlines, another story is unfolding in the mining space.

BlockDAG (BDAG) is making waves with fundamentally different metrics. Its X1 miner app now boasts over 1.5 million active users, setting the stage for an epic finale to its presale, which has seen an astounding $294.3 million pour in so far.

This گستره گسترده of activity showcases the thriving ecosystem that BlockDAG is building, contrasting sharply with the traditional narrative of coins and their price fluctuations.

As the Layer 1 blockchain prepares to land on major exchanges, crypto enthusiasts are piling into the remaining presale batches to stack up on BDAG coins.

The X1 Miner app offers a unique opportunity for everyday users to mine crypto without needing expensive hardware or technical expertise. Every day, users can churn out 20 BDAG coins on their smartphones, providing a constant stream of income.

This accessible approach has democratized crypto mining and created a foundation of genuinely engaged users who are contributing to the growth of the BlockDAG ecosystem.

The BlockDAG presale has seen overwhelming response since kicking off earlier this year, raising over $294.3 million across 29 batches and selling over 22.22 billion coins.

Currently, the remaining presale batches are offering crypto buyers the chance to grab BDAG at a special entry price of $0.0018—a rate that provides a significant discount compared to Batch 29’s price of $0.0276.

This special pricing will continue until June 13, the same day that BlockDAG plans to announce the complete roster of 20 exchange listings where users will be able to buy, sell, and trade BDAG coins.

The post Two Coins Targeted By Buyers This Week After Technical Analysis & A Different Angle: BlockDAG's X1 Miner App Hits 1.5M Users appeared first on crypto.news.