Monero Unveiled and Cardano's Shocking Intraday Drop: What You Need to Know

Monero Unveiled and Is it legal to mine Monero?Cardano's Shocking Intraday Drop: What You Need to Know

In the volatile world of cryptocurrency, two coins have recently caught the spotlight: Monero and Cardano. While there's no specific information about Monero in the given context, we'll dive deep into its general characteristics and then analyze Cardano's recent shocking intraday drop. Let's start by understanding Monero.

Monero: An Overview

Monero is a privacy - focused cryptocurrency. It uses advanced cryptographic techniques to obfuscate transaction details, including the sender, receiver, and the amount transferred. This privacy feature sets it apart from many other cryptocurrencies like Bitcoin, where transactions are more transparent on the blockchain. Monero's privacy is achieved through technologies such as ring signatures, stealth addresses, and ring confidential transactions. These features make it a popular choice for users who value financial privacy. However, this very privacy has also led to some regulatory scrutiny in the past, as it can potentially be misused for illegal activities. Despite that, Monero has a strong and dedicated community that believes in the importance of financial privacy in the digital age. The potential growth of Monero lies in its ability to maintain and improve its privacy features while also expanding its use cases and adoption. As the demand for privacy - preserving financial transactions increases, Monero could see significant growth.

Cardano's Shocking Intraday Drop

Cardano, a well - known blockchain platform with its native token ADA, has recently experienced a notable intraday drop that has shaken its investors.

The Drop Details

According to CoinGlass data, in the past 24 hours as of July 21st, 2025, with the price correction, long - position traders in Cardano suffered losses of up to $13.08 million. This interrupted its upward trend towards the $1 mark. At the time of reporting, Cardano was priced at $0.8208, with a 24 - hour decline of 3.64%. The asset reached an intraday high of $0.8601 before rapidly dropping to $0.8008 and then slightly recovering. This price movement was sufficient to liquidate long positions in the ecosystem. During the same period, short - position traders also suffered losses, with a liquidation amount of $764,060, bringing the total liquidation volume to $13.084 million.

Reasons for the Drop

The key indicator showed that the asset had entered the overbought zone, with the Relative Strength Index (RSI) reaching 78.01. This high RSI value triggered a correction due to profit - taking by investors. When an asset is overbought, it means that the buying pressure has been so strong that it may be due for a price pullback as investors look to lock in their gains.

Analysis of the Current Situation

Despite this drop, the Cardano community remains optimistic about its continued rise. The price has not fallen below the key support level, which gives them hope. In the past seven days, Cardano had performed impressively, with a cumulative increase of 13.35%. If it can get support from the ecosystem, it may regain its upward momentum.

To achieve the $1 target, the trading volume, which has dropped by 48.02% to $1.72 billion, needs to return to the growth range. Both retail and institutional investors in the ecosystem need to jointly drive the trading volume back up to reverse the price trend. The development of Cardano's DeFi wallet integration and ecosystem support will be crucial in this regard. For example, Emurgo's launch of the Cardano card has significantly enhanced the usability of ADA, allowing users to use ADA globally and obtain DeFi - based rewards, which has previously driven price increases and user activity.

Long - term Outlook for Cardano

Analysts generally believe that it's only a matter of time before Cardano's ADA price reaches $1. The token has been on a strong upward trend, with a price increase of over 60% in less than a month compared to the low of around $0.55 in early July. It has broken through the descending parallel channel that had been suppressing its price since May and has closed above the key resistance level for several consecutive days, marking the beginning of a bullish trend reversal. The appearance of the rounded bottom pattern, a strong reversal signal, has further strengthened the bullish expectation.

Chain - on data also provides evidence for the positive outlook. Analysts have monitored 137 whale transfers of over $1 million in recent days, and the daily trading volume has exceeded $1.2 billion, indicating increased market attention and liquidity for ADA. This surge in activity often indicates a recovery of confidence among large - scale holders, which is usually seen as a precursor to further price increases.

Moreover, the probability of the approval of a US spot ADA ETF has increased, with prediction platforms like Polymarket showing a current approval probability of 84%. If approved, it will attract institutional funds and significantly drive up the price of ADA. Although there may be short - term profit - taking around the $1 mark, the current market structure shows that the continuous buying pressure, especially above $0.9, may prevent a deep correction. If the daily closing price can stabilize above this key level, the $1 target will become more definite. Some more optimistic long - term predictions even look at the $1.3 - $12 range, depending on the overall market conditions and Bitcoin's performance.

In conclusion, while Cardano has faced a shocking intraday drop, the long - term prospects for its native token ADA seem promising. As for Monero, its unique privacy features give it a special place in the cryptocurrency market, and its potential growth depends on how it navigates regulatory challenges and expands its user base. Cryptocurrency investors should always DYOR (Do Your Own Research) and stay updated on the latest market trends and developments.

Multi - Empty Game Sandbox for Cardano