Cryptocurrencies Price Prediction: Bitcoin, Lido DAO & Cardano – American Wrap 08 May

FXStreet Team FXStreet

Stacks price new uptick has everything to do with Bitcoin network’s recent backlog, 50% rise underway?

Stacks (STX) price is bullish despite most players in the crypto arena recording losses. The fresh uptick is attributed to the recent debacle on the Bitcoin backlog, where the Binance exchange reported congestion on the TC network.

Lido DAO price plunges 31% in a month, leading to 4 million LDO accumulation

Lido DAO price has been charting its own path, painting red on the charts, unlike Bitcoin and the leader of the altcoins, Ethereum.

Despite having dominance in the DeFi space, Lido DAO is losing traction due to a build-up of negative sentiments, leading to an enormous amount of LDO being moved in a single day.

Cardano price to end Monday turmoil as US session gets underway with 5% pop

Cardano (ADA) price is adding some marginal but vital gains on Monday. After a very bearish ASIA PAC and European session, ADA bulls are looking beyond the turmoil from Binance that shook the market with the lifting and reactivation of its ban for Bitcoin withdrawals. As altcoins are licking their wounds, the US session looks promising for Cardano, with price action set to recover and reclaim lost ground from the past weekend.

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Ripple faces persistent bear risks, shrugging off ETF inflows

Ripple is extending its decline for the second consecutive day, trading at $2.06 at the time of writing on Friday. Sentiment surrounding the cross-border remittance token continues to lag despite steady inflows into XRP spot ETFs.

Luna Classic soars 20% as Do Kwon's sentence hearing looms

Luna Classic surges 20% on Friday, extending its recovery for the fourth consecutive day. Roughly 959 million tokens have been burned in December so far, fueling LUNC's recovery.

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.

Ethereum strengthens against BTC post-Fusaka, targeting $3,200 breakout

Ethereum trades above $3,100 on Friday, with bulls aiming for a breakout above a two-month-old resistance trendline. Ethereum gains strength against Bitcoin as demand for the major altcoin increases after the Fusaka upgrade.

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Bitcoin: BTC steadies as data suggests local bottom

Bitcoin (BTC) hovers around $91,000 at the time of writing on Friday, extending its recovery by 5% so far this week. On the institutional front, a modest outflow from US-listed spot Bitcoin Exchange Traded Funds (ETFs) marks a slowdown from previous weeks and signals a reduction in selling pressure, further supporting BTC’s recovery.

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