Novogratz’s Previous Criticisms

In the past, Novogratz described XRP’s rise as exaggerated and referred to Cardano (ADA) as having a “strange cult-like” following. These remarks were closely watched by the crypto community and investors and sparked widespread debate. XRP’s rapid price movements and the intense activity within the ADA community, in particular, drew attention and made Novogratz’s earlier comments highly controversial.

Over time, however, Novogratz said his observations changed and that he came to recognize the crucial role communities play in understanding the long-term value of these two altcoins. According to the CEO, strong and committed communities boost adoption, expand usage, and contribute significantly to a project’s sustainability. In this context, Novogratz acknowledged that the communities behind XRP and ADA play a central role in the financial and functional success of their respective projects.

The Strong Communities Behind XRP and ADA

In his latest comments, Novogratz highlighted that both XRP and Cardano have powerful and dedicated communities. These communities are key to driving adoption, increasing real-world use cases, and creating long-term value for the tokens. He stressed that the loyalty and belief of a community are decisive factors in whether a cryptocurrency can truly evolve into a functional monetary asset.

“Cardano and XRP have strong communities. These communities play a critical role in the long-term success of the projects.”
— Mike Novogratz

In a November interview, Novogratz admitted that he had been wrong about XRP, stating that after a long struggle the token had effectively become a functional form of money. XRP’s performance beyond expectations, the evolution of its narrative, and the strength of its community led him to revise his earlier stance.

Assessment

Mike Novogratz’s updated views on XRP and ADA once again highlight the importance of community-driven strength in the crypto market. For investors, his comments underscore that strong community support can be a decisive factor in enhancing a project’s long-term value. Novogratz’s change of perspective also brings renewed attention to the institutional and community-driven growth potential of both XRP and Cardano.

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The post Critical Statement from Mike Novogratz on Two Key Coins! appeared first on Coin Engineer.

Altcoins Included in the Application

The altcoins listed in Rex Shares’ SEC submission are:

AAVE,ADA, ATOM, AVAX, BCH, CRO, DOT, ENA, HBAR, HYPE, INJ, LINK, LTC, NEAR, OKB, SEI, SUI, TAO, TRX, UNI, XLM

This extensive filing highlights Rex Shares’ ambition in the crypto ETF market and its diversification strategy. The company had previously gained attention with its approved Solana, DOGE, XRP, and ETH ETFs. This new application underscores Rex Shares’ growth pace in the ETF sector and its goal of facilitating institutional access to cryptocurrencies.

ETFs allow investors to gain exposure to digital assets without opening a crypto wallet or taking on custody risks. Additionally, these funds help increase institutional capital inflows, strengthening market liquidity.

SEC Approval Process and New Regulations

The U.S. Securities and Exchange Commission (SEC) recently implemented new rules that removed lengthy approval processes for certain ETF applications. Under these regulations, ETFs meeting specific criteria can be launched more quickly.

However, this week, federal government shutdowns caused delays in the approval processes for Rex Shares and other pending ETF applications. Investors are anticipating that these new ETFs will launch soon, accelerating institutional capital entry into the crypto market.

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The post Rex Shares Files Spot ETF Applications for 21 Altcoins Simultaneously! appeared first on Coin Engineer.

What is Snek?

SNEK positions itself as Cardano’s premier memecoin, leveraging internet culture to drive accessibility and innovation in Web3. Through the Snek Ecosystem Fund, it supports early-stage Cardano projects, fueling ecosystem expansion. Managed by the Snek Pit DAO, this fund allocates resources via community voting. Unlike typical memecoins, project creates a self-sustaining ecosystem by licensing its brand to partnered projects, which share revenue with the treasury. Aligning with Cardano’s scalable and sustainable infrastructure, project attracts developers seeking low-fee environments, aiming to establish lasting value in the Web3 landscape.

Key Differentiators

Project distinguishes itself from traditional memecoins through a revenue-sharing model tied to its brand (snake-themed visuals and catchphrases), with proceeds funding the Snek Ecosystem Fund for further investments. By leveraging Cardano’s low-cost and scalable infrastructure, it offers an appealing platform for developers. Its fair launch, zero team allocation, and transparent governance cement its community-centric ethos. Beyond digital assets, project integrates with decentralized exchange (DEX) liquidity pools, NFTs, DeFi protocols, and real-world products like Snek Energy, redefining the memecoin paradigm.

SNEK Energy: Branded Beverage

SNEK bridges the crypto and real worlds with Snek Energy, a Web3-branded energy drink launched in the U.S. This beverage boosts brand visibility through sponsorships at motorsport events and Cardano community gatherings, demonstrating how a memecoin can evolve into a globally recognized brand.

SNEK NFT Ecosystem

Project has ventured into the NFT space with the Snekkies collection, supported by the Snek Pit fund to drive creative development. Holders of Snekkies NFTs gain:

• Exclusive community access

• Eligibility for future SNEK airdrops

• NFT mining rewards and trading fee rebates

These NFTs strengthen community engagement while adding utility to the ecosystem.

Community and Partnerships

Project attracts new investors through social media giveaways, airdrops, and collaborations with Web3 projects. Real-world events like meetups, conferences, and hackathons enhance community interaction. Strategic partnerships with other Cardano projects foster mutual growth and user acquisition, expanding SNEK’s reach.

SNEK Tokenomics and Governance

SNEK’s tokenomics emphasize fair distribution, robust liquidity, and active community participation, with a total supply of 76,715,880,000 tokens. Its deflationary structure includes regular token burns to reduce supply. The token distribution is as follows:

• Presale (50%): Held on April 27-28, 2023, open to all via ADA contributions, ensuring fair access.

• Initial Liquidity (40%): Presale proceeds were secured in a multi-signature wallet to fund DEX liquidity pools.

• Airdrops (2%): Allocated for community incentives, meme marketing, and social campaigns.

• Utility Fund (5%): Supports farming incentives, micro-partnerships, and innovative features.

• Reserves (3%): Reserved for centralized exchange listings and future development.

The Snek Pit DAO governs treasury allocations through community votes. With no formal team, SNEK relies entirely on community contributors, enhancing decentralization but introducing governance risks.

Snek Investors

Project’s fair launch model allocated no tokens to venture capitalists or private investors. Funding was secured entirely through community participation and the presale, reinforcing its decentralized ethos.

Snek Team

SNEK lacks a formal team and is driven by community contributors under the leadership of Goofycrisp.

As a deflationary memecoin on Cardano, SNEK pioneers Web3 growth through NFTs, energy drinks, DeFi integrations, and a community-first approach. By blending entertainment with utility, it attracts new users to the Cardano ecosystem and redefines the potential of memecoins.

Official Links

• Website
• X (Twitter)

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His response? Transparency—delivered live.

Audit Report Incoming: Livestream Announcement Planned

Hoskinson announced he received the first draft of the audit report on Input Output Global’s ADA holdings. While he asked for more details in some sections, he said the report is “shaping up quickly.”

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If everything proceeds as scheduled, the public release is expected in mid-August. He plans to go over the entire document via livestream. A dedicated website will also host the full report and historical documents.

Firm Response to $600 Million Allegations

The audit process was initiated following allegations that IOG mismanaged $600 million worth of Cardano ADA. Hoskinson denied the claims, stating:

“IOG never gave itself 350 million ADA. That’s a lie,” he said, adding that unclaimed ADA was donated to Intersect, a community-driven organization, after a seven-year wait.

Hoskinson also rejected accusations that he manipulated the Cardano ledger using a “genesis key” during the 2021 Allegra hard fork.

Legal Action on the Table

Hoskinson confirmed he is considering legal options. He said he is meeting with a defamation law firm to discuss potential strategies.

“No matter how many times people lie, they cannot change reality,” he said, vowing to clarify the full picture through the audit and livestream.

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XRP, SOL, ADA, and XLM Set for Inclusion

Nasdaq’s current index tracks just five digital assets. With the new proposal, this number is set to rise to nine. The four new crypto assets proposed for inclusion are:

• XRP (Ripple)

• SOL (Solana)

• ADA (Cardano)

• XLM (Stellar)

This planned expansion aims to offer a more accurate reflection of the evolving crypto market, particularly for institutional portfolios seeking diversified blockchain exposure.

A Turning Point for U.S. Crypto ETFs?

The potential inclusion of these assets represents more than just an index update — it may signal a broader shift in how digital assets are being integrated into regulated financial products in the United States. This could strengthen the bridge between decentralized technologies and traditional finance.

Market analysts suggest that if the SEC grants approval, it could not only boost attention to these specific tokens but also encourage deeper involvement in staking and DeFi protocols. A decision from the SEC is expected on November 2, 2025.

Institutional Capital Eyes New Opportunities

Nasdaq’s move is attracting cautious optimism from investors and market professionals alike. Projects like XRP, which currently boasts a market cap of over $130 billion, have recently shown notable momentum — a signal that large-scale investors are taking note.

Adding these altcoins to the index may unlock institutional access to blockchain ecosystems with diverse real-world use cases, offering broader exposure than legacy crypto benchmarks.

Furthermore, this strategy could foster innovation in ETF products, leading to a more mature and flexible investment landscape for digital assets.

What Comes Next? Approval Process and Outlook

Despite the bold step, Nasdaq’s proposal must still navigate a thorough review process. Each asset will be assessed against SEC criteria including regulatory compliance, market liquidity, and transparency.

Ongoing advancements in blockchain infrastructure, as well as potential shifts in U.S. crypto regulations, are likely to influence the final outcome. Experts emphasize the need for robust governance and investor protections to ensure long-term credibility in the crypto ETF space.

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Bitcoin Transfer Details and New Wallets

On-chain tracking platform Arkham reported that on March 27, the US government moved 93.96 BTC (~$8M) to a new wallet, along with 884.33 ETH (~$1.77M).

Arkham announcement:

“The US government has transferred $8.46M in BTC from the Sae-Heng confiscated funds wallet.”

Despite this transfer, the US government still holds over $17 billion in crypto assets, with 198,000 BTC making up the majority of its reserves.

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Confiscated BTC and the ‘Pig Butchering’ Scam

The Sae-Heng wallet holds funds seized from a ‘pig butchering’ scam targeting US citizens. The assets were confiscated from Wanpadet Sae-Heng’s Binance account and initially transferred to a government-controlled storage wallet.

Total confiscated assets include:

• 97.33 BTC
• 2.56M DOGE
• 884.33 ETH
• 85M ADA

While some confiscated funds might be returned to scam victims, larger forfeitures could be allocated to the government’s crypto reserves.

US Bitcoin Strategy and Reserve Plans

On March 7, President Donald Trump signed an Executive Order to create a crypto reserve, using Bitcoin (BTC) already held by the US government. The Strategic Bitcoin Reserve Act is still under review in Congress, but if approved, the reserve’s primary source of BTC would come from confiscations.

The US now holds more Bitcoin than China’s 190K BTC, making it the largest state BTC holder. While previous plans considered liquidation, the government has now shifted to holding BTC as a strategic asset.

Some funds may be returned to victims of scams, while Silk Road BTC and similar holdings may remain part of the national crypto reserve.

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On the daily chart, ADA has retraced into a bullish Fair Value Gap (FVG) zone. While it has reacted from this level, it continues to face strong resistance at $0.76. This level has rejected multiple attempts at a breakout, increasing selling pressure. So, what’s next for ADA?

Key Price Levels for Cardano (ADA)

Technical indicators suggest that ADA is currently in an accumulation phase at this range. If it successfully breaks above $0.76, an upward move towards $0.82 could follow. However, failure to clear this resistance might expose ADA to a potential retracement down to $0.60.

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Additionally, Bitcoin’s price movement remains a major factor influencing the altcoin market. If Bitcoin stays strong, ADA and other major altcoins could gain bullish momentum. However, if the market trends downward, ADA may revisit the $0.60 support level.

What’s Next for Cardano?

The crypto market has always been highly volatile, and ADA’s current price action presents both opportunities and risks for investors. For short-term traders, breaking $0.76 could serve as a key bullish confirmation. Long-term investors, on the other hand, will look at ADA’s development progress, ecosystem growth, and overall market sentiment.

In the coming days, ADA’s reaction at these critical levels will provide insight into the broader market direction. Investors should closely monitor price movements and adjust their strategies accordingly.

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ADA (Cardano) Latest Status

ADA dropped 3.60% in the last 24 hours, falling to the $0.82 support level but is currently trading around $0.87. Showing a strong reaction at this level, ADA is now close to the $0.90-$0.94 resistance range. Caution is advised in this zone. If this resistance is broken, the next target is expected to be $1. However, in a possible decline, a break below $0.82 could push the price toward the daily bullish FVG zone.

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XRP Latest Status

XRP fell to $2.37 yesterday but has since recovered to $2.50. The closest resistance level for XRP is $2.78. If this level is breached, the next target will be the bearish FVG zone. On the downside, the closest support level is $2.50. If this support is lost, the bullish FVG zone will serve as a key support area.

Solana (SOL) Latest Status

Solana dropped to $130 yesterday but quickly rebounded to $144. Analysts highlight the bearish FVG zone at this level, with $161 situated within this area. The nearest support zone for Solana is between $126-$120.

The U.S. recognizing cryptocurrencies as a form of reserve asset could drive more interest and price appreciation in these coins. ADA, XRP, and Solana could see strong upward potential, but investors must stay cautious and monitor critical support and resistance levels for each coin.

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The post How Are America’s Crypto Reserve Coins Performing? Price Analysis! appeared first on Coin Engineer.

First Step for Grayscale’s Cardano ETF!

On February 24, the SEC announced that it had accepted Grayscale Cardano Trust’s application for review. This marks the beginning of the process that will ultimately determine whether the ETF will be approved.

NYSE Arca submitted the application on behalf of Grayscale to the SEC on February 10. The proposed ETF will track the price of Cardano based on an index that surveys daily prices from exchanges such as Coinbase, Crypto.com, Bitfinex, and Kraken.

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Investors in the ETF will not directly purchase Cardano (ADA) but instead hold shares of the trust. Coinbase Custody Trust Company will provide custody services, while BNY Mellon Asset Servicing will serve as the transfer agent and administrator.

Growing Number of Crypto ETF Approvals!

The SEC has recently been reviewing numerous crypto-related ETF applications. These include Cboe’s XRP ETF, Grayscale’s spot XRP and Dogecoin ETFs, and BlackRock’s iShares Bitcoin Trust (IBIT) options filings.

Additionally, on February 24, Nasdaq applied for approval to list an ETF holding Hedera Network’s (HBAR) native token. On February 19-20, the SEC acknowledged several other crypto ETF filings, including those related to staking, options, in-kind redemptions, and new altcoin funds.

Following the inauguration of a crypto-friendly U.S. President, interest in crypto ETFs has surged. Investors are closely watching how the SEC will approach these applications in the coming months.

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USD Services Are Back!

Binance.US has resumed USD services, which will gradually roll out to all eligible customers in the coming days. You can now deposit USD by linking a bank account, purchase crypto via bank transfer (ACH), and trade on USD pairs.

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USD Services and Features

Binance.US has resumed USD services starting February 19, 2025. You can now deposit and withdraw USD by linking a bank account, with zero fees. Additionally, you can buy and sell crypto using bank transfers (ACH), and convert instantly between USD and crypto.

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USD trading pairs are available. Initially, BTC/USD, XLM/USD, DOGE/USD, SOL/USD, ETH/USD, ADA/USD, HBAR/USD, SHIB/USD, SUI/USD, and BNB/USD pairs will be available.

In addition, Binance.US users can earn rewards by staking Proof-of-Stake cryptocurrencies. Small balances under $20 can be converted to BNB, BTC, ETH, or USDT. You can also send, request, and receive crypto directly to and from your Binance.US wallet. Furthermore, large transactions up to $10,000 can be placed through the OTC trading portal.

Binance.US offers multiple features to make crypto trading easier. Creating a new account is simple, and you can buy your first crypto in just two minutes.

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