ADA jump 15% as Hoskinson order Treasury Fraud Audit
Cardano e own token, ADA, jump 15% reach $0.92, e reach im highest point for four months. Dis rise come afta founder Charles Hoskinson talk about say dem go do third-party audit for Input Output Global treasury to check tins wey NFT artist Masato Alexander talk like dem mismanage 318 million ADA ($619m). Hoskinson confirm say legal case dey and dem dey review draft audit report, full independent audit go happen by mid-August, plus dem get plan for live-stream presentation. On-chain data show say Cardano total value locked (TVL) don pass $412m, while stablecoin money enter rise 15% for weekend, mean say community support strong. Technically, ADA dey trade above upper Bollinger Band and e get RSI of 84, wey mean e overbought and fit drop small short-term to $0.85. Main resistance dey for $1.00 and $1.20, analysts still dey talk say year-end target na $1.50–$2.00. Traders make dem keep eye on audit progress and support level $0.85 as ADA dey try reach new highs.
Bullish
ADA treasury audit announcement plus strong on-chain metrics dey show say market dey feel good and e support beta market momentum. Short term, ADA RSI pass 80 and price dey trade above upper Bollinger Band mean say market fit don overbuy and e fit fall small to support around $0.85. But the clear audit process dey reduce wahala about how dem dey manage treasury, e fit make investors continue to trust for medium to long term. Together with TVL growth and stablecoin money wey dey enter, all this things fit make ADA go up reach $1.00–$1.20 soon and maybe $1.50–$2.00 before year end, tok say market go still dey bullish.