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Helene Braun
NFT Gaming

Cardano’s Token Gains 3%, Buoyed by Inclusion in Nasdaq’s Crypto Index

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Cardano’s native token ADA

added 3% in the past 24 hours after Nasdaq said it expanded its crypto benchmark index from five to nine assets, adding ADA alongside XRP , Solana and Stellar .

ADA experienced significant price volatility overnight, establishing a 8.8% trading range between $0.66 and $0.72, according to CoinDesk Research’s technical analysis. It was recently trading at $0.6951.

Trading volumes for ADA have increased 68% over the past 24 hours, suggesting active market participation despite uncertain conditions. Its addition to the Nasdaq index could significantly increase Cardano’s visibility among traditional investors.

Market analysts note the $0.70 level has emerged as a crucial psychological support zone that will likely determine ADA’s short-term trajectory following its earlier bullish momentum.

The CoinDesk 20 Index, which tracks the broader crypto market performance, is up about 4% over the past 24 hours.

Technical Analysis

  • ADA exhibited significant volatility over the 24-hour period, establishing a 8.8% trading range between $0.66 and $0.72 before dropping 3.3%.
  • The price action formed a clear uptrend from $0.67 to $0.72 with strong volume support at the $0.68 level.
  • The recent pullback from $0.72 to $0.69 suggests profit-taking after the rally, with the 0.70 level emerging as a key psychological support zone.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



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XRP and Solana Added to Nasdaq Crypto Index: Market Expansion Imminent?
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XRP and Solana Added to Nasdaq Crypto Index: Market Expansion Imminent?

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Nasdaq Crypto US Settlement Price Index (NCIUS) was updated on June 2 to include four new cryptocurrencies: Solana ($SOL), Cardano ($ADA), Stellar ($XLM), and XRP ($XRP). Earlier, it had only included $BTC and $ETH.

While this is great news for the development of the broader crypto market, it ‘s caused an issue for the Hashdex Nasdaq Crypto Index US ETF (NCIQ). This ETF tracks the NCIUS index to provide weighted exposure in $ETH and $BTC.

Until now, it could replicate the index with precision and minimum divergence. However, even though the composition of NCIUS has now changed, the ETF isn’t permitted to track any assets other than Bitcoin and Ethereum. This has caused a mismatch between the fund’s objective and the index it is tracking.

NASDAQ has submitted a proposal to let NCIQ track the Nasdaq Crypto Index (NCI) instead of the current NCIUS. The NCI index also includes $SOL, $ADA, $XLM, and $XRP, as well as $LINK, $LTC, and $UNI.

The SEC is expected to respond by November 2, 2025. In any case, there’s no denying Wall Street is now adopting a more inclusive approach to crypto, looking at assets other than Bitcoin and Ethereum.

Bitcoin is a Great Buy Even at $106K

In other pro-crypto developments, John Deaton, an ace Bitcoin investor and XRP supporter, took to X to voice his analysis that $BTC ‘s a safer buy at $106K than it was at $20K.’ He believes that the risk-to-reward ratio is more favorable now than when Bitcoin was trading much lower.

Deaton also said that the current macroeconomic conditions will gradually undermine people’s confidence in fiat currencies. For example, growing national debt and exorbitant tariffs are big red flags for the cash economy.

In such a scenario, ‘digital gold’ emerges as a clear alternative.

  • First, $BTC’s supply is limited, so corporations and governments can’t manipulate it.
  • Secondly, companies and countries, both large and small, are racing to add Bitcoin to their balance sheets, pushing up the price.

Michael Saylor’s Strategy, for instance, now owns more than 580K $BTC, and 16 firms added it to their balance sheets just last week.

Governments across the board, like Ireland, Pakistan, and Ukraine, are considering creating their own Bitcoin reserves after the US announced it would pursue one.

All these signals show that Bitcoin is here to stay and only goes from strength to strength. If you, too, are keen on milking $BTC to the last possible drop, we’d like to introduce you to BTC Bull Token.

What Is BTC Bull Token?

BTC Bull Token ($BTCBULL) has taken a simple idea – to cheer on the greatest digital asset, Bitcoin – and transformed it into one of the best meme coins on the market right now.

With a muscular bull as its mascot and a website theme that mimics Bitcoin’s bright gold color, BTC Bull Token wears its Bitcoin bullish badge with pride.

According to its whitepaper, it’s ‘the unstoppable force pushing Bitcoin towards $1M+.’

It does this by being the ONLY crypto today offering free (and completely legitimate) $BTC to its token holders.

Every time Bitcoin claims a new major milestone, like $150K and $200K, $BTCBULL holders who have stored their tokens in Best Wallet will stand a chance to earn real Bitcoins.

Note: the $BTC amount you receive will depend on the number of $BTCBULL tokens you bought in the Community Sale. Also, subscribe to BTC Bull Token’s social media (X and Telegram) for updates about the airdrop events, as you’ll have to opt in to qualify.

Burn Tokens, Create Hype, and Enjoy Profits

The developers have done everything to ensure the project’s success, including using a deflationary approach, also known as a token burn mechanism, which sees the project shaving off a part of the total token supply to push the price.

These ‘token burn’ events will take place every time Bitcoin’s price increases by $50K, starting from $125K.

Incentives like these, combined with a chunky 40% of the total supply reserved for PR and marketing, suggest BTC Bull Token could become one of the top trending cryptos after its launch.

$BTCBULL Is Currently Cheaper than It Will Ever Be

Hell-bent on backing Bitcoin to $1M and beyond? Get BTC Bull Token!

That’s aside from the chance to win real $BTC (currently worth over $105K) if you’re a $BTCBULL owner.

The good news is the token is still in presale, meaning you can grab it for just $0.002555. The project has already raised around $7M in early investor funding and is raring to go once it launches. You can read all about it in our What is BTC Bull Token guide.

More Cryptos Go Mainstream, but $BTC Remains the Greatest

New ETFs supporting modern cryptocurrencies like Solana and XRP represent a healthy diversification in the market, but the fact remains, there’s only one Bitcoin.

With an innovative approach towards airdrops, a classic token burn mechanism, and a lively community of crypto degens, BTC Bull Token nevertheless could emerge as the next big crypto coin to follow in Bitcoin’s footsteps.

That said, make sure to do your own research before investing. The market is unpredictable, and none of the above is financial advice.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Nasdaq Adds Xrp, Sol, Ada, Xlm To Crypto Index
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Nasdaq Adds XRP, SOL, ADA, XLM to Crypto Index

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Nasdaq filed a proposed rule change with the U.S. Securities and Exchange Commission (SEC) under Rule 19b-4 on June 2, 2024. Nasdaq is broadening the benchmark for digital assets by adding prominent altcoins XRP, Solana (SOL), Stellar Lumens (XLM), and Cardano (ADA).

The proposal is made to allow the Hashdex Nasdaq Crypto Index US ETF (NCIQ) to shift from its existing benchmark, the Nasdaq Crypto US Settlement Price Index (NCIUS). The ETF would instead use a broader benchmark called the Nasdaq Crypto Index (NCI).

Nasdaq recently refreshed the NCIUS by adding four new coins: XRP, Solana (SOL), Cardano (ADA), and Stellar Lumens (XLM). These are in addition to Bitcoin (BTC) and Ethereum (ETH), which are now index constituents, making the benchmark more reflective of the wider crypto market.

However, due to existing SEC laws, the Hasdex ETF at present only holds BTC and ETH. This introduces a tracking error risk since the ETF tracks an index of six assets but invests in only two. Hashdex uses a sampling mechanism to reduce this mismatch, although complete alignment with the index is not guaranteed.

The NCI currently includes 9 cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), Stellar Lumens (XLM), Chainlink (LINK), Litecoin (LTC), and Uniswap (UNI).

If the SEC gives its approval, the ETF will be permitted to invest in all of these coins. The SEC will make a final determination by November 2, 2025. Approval could mark a major step toward greater flexibility and diversification in U.S.-listed crypto ETFs.

Also Read: Nasdaq Extends Decision on 21Shares Spot Polkadot ETF



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Virtune AB launches Virtune Coinbase 50 Index ETP on Xetra
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Virtune AB launches Virtune Coinbase 50 Index ETP on Xetra

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Swedish crypto asset manager Virtune becomes the first entity to launch an ETP on Xetra that tracks the Coinbase 50 Europe Index, providing exposure for up to 50 crypto assets.

According to a press release sent to crypto.news, Virtune’s latest ETP is now trading on Deutsche Börse Xetra, one of the most prominent trading venues in the European market. Traders can access the product on Xetra marked under the ticker VRTC and VCOIN50 on Bloomberg. The exchange-traded product is 100% physically backed and offers traders exposure to 21 crypto assets upon launch, becoming the first ETP to track the Coinbase 50 Europe Index.

In due time, Virtune plans to expand the product’s asset list to include all 50 crypto assets available in the COIN50. However, that outcome is still subject to regulatory and stock exchange approval.

The ETP is designed to provide exposure to up to 50 leading crypto assets, including Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL) and many more. The product is also rebalanced on a quarterly basis and features a transparent structure with institutional-level solutions.

The crypto exchange that developed the index, Coinbase, will act as the official custodian for the ETP. Meanwhile, European index provider MarketVector is the chosen administrator for the COIN50E index.

Virtune CEO Christopher Kock believes the COIN50 index bears the potential to one day become the crypto space equivalent to the renowned S&P 500 index, which is currently the leading index for publicly traded companies in the U.S.

“This ETP offers both institutional and retail investors in Europe broad exposure to the crypto market, built by industry experts with deep knowledge and experience,” said Kock.

Head of Coinbase Institutional Brett Tejpaul views the launch of VCOIN50 on Xetra as a major step forward in the crypto exchange’s mission to expand global access to digital assets and provide institutional-grade tools for traders around the world.

“The introduction of this ETP reinforces our commitment to bridging traditional financial infrastructure with the growing demand for regulated, secure exposure to the digital economy,” said Tejpaul in his statement.

Last February, Virtune launched two new crypto ETPs on the Nasdaq Helsinki Stock Exchange. The listings consisted of Virtune’s Avalanche (AVAX) ETP and Virtune’s Staked Cardano (ADA) ETP. Earlier this year, Virtune mass listed five different crypto-backed ETPs, making them the first batch of crypto ETPs listed in Finland.



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Bitcoin Index Shows Early Upside Signal: BTC Price Rally Next?
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Bitcoin Index Shows Early Upside Signal: BTC Price Rally Next?

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  • BCMI suggests potential BTC price uptrend
  • Bitcoin price dips slightly

While the cryptocurrency market appears quiet on the surface, an important indicator suggests that there may be a shift in Bitcoin sentiment. 

The 7-day moving average of the Bitcoin Combined Market Index (BCMI) has risen to about 0.6. Traders often see this increase as an early sign of optimism.

BCMI suggests potential BTC price uptrend

In contrast, the 90-day average of this index remains stable at 0.45, suggesting that the market isn’t overheated yet. The BCMI is a combination of many factors like the Fear & Greed Index, unrealized gains (NUPL), investor profitability (MVRV), and spending trends (SOPR).

Source: CryptoQuant

When this index is below 0.15, it is a sign of extreme fear and a possible buying opportunity. But if it rises above 0.75, it is a sign of excessive excitement, a warning sign that a downturn could happen soon.

However, the occurrence of the rebound during a period when there’s a slowdown of profit-taking is a shift that happens before accumulation phases. During this phase, investors accumulate BTC more aggressively.

The change in the BCMI suggests underlying strength while the broader market remains cautious.

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Historically, these signs have sometimes marked the start of a BTC price uptrend. For now, the BTC long-term trend is in neither fear nor greed. But if the short-term rebound holds, it means there is growing confidence of a price rally among traders.

Bitcoin price dips slightly

BTC experienced a 0.9% drop in price to $106,057 in the last 24 hours, according to TradingView data. The 4-hour timeframe of the TradingView chart includes Fibonacci retracement levels, a tool for identifying possible support and resistance zones.

Source: TradingView

The key levels highlighted were $110,000, $100,000, $95,000, and $80,000. These are price points where Bitcoin’s price could face selling pressure or find stability in the short term. In addition, the Average Directional Index (ADX), which measures trend strength, stood at 20.73.

This figure points to some directional momentum in the market, even though it doesn’t indicate an extremely strong trend. The recent dip, though minor, is proof of a consolidation period after price uptrends earlier in May.

The Relative Strength Index (RSI) at 35.75 is near the oversold region, suggesting that selling activity is nearing exhaustion even though it was previously aggressive. Earlier today, popular American financier

Anthony Scaramucci predicted that the excessive spending of the U.S. government could cause Bitcoin to trade at $500,000 soon.



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Bitcoin
Crypto Trends

Bitcoin Demand In US Grows: Coinbase Premium Index Back In Positive Zone Amid BTC’s Rally

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Even with Bitcoin’s price experiencing waning performance or growing bearish pressure, bullish sentiment continues to increase strongly in the broader crypto market. Following the recent rally to a new all-time high, there has been a notable improvement in the BTC’s Coinbase Premium Index.

Positive Bitcoin Coinbase Premium Index

Bitcoin’s price may have experienced a slight pullback, but several key aspects still indicate a potential continuation of its recent upward trend. As the flagship digital asset gears up for an extended rally, Alphractal, an on-chain data analytics platform, mentions that a key market indicator is flashing signs of renewed investors’ interest.

In its post on X, the platform announced that Bitcoin’s Coinbase Premium Index has returned to positive territory after rallying to a new all-time high. This bullish shift has ignited newfound optimism in the market, generating more interest in the crypto giant.

Specifically, the Coinbase Premium Index is a crucial market indicator that calculates the difference in Bitcoin’s price on the Coinbase exchange and other international crypto exchanges.  The index’s move into positive territory implies that many traders in the United States are once again paying more to purchase BTC. “During Bitcoin’s latest rally, the Coinbase Premium Index turned positive again, signaling significant buying pressure from the U.S. market,” the platform stated.

Coinbase premium resuming its bullish course | Source: Alphractal on X

Alphractal noted that when the metric is positive, as it is now, it indicates that BTC is trading at a premium on the Coinbase exchange, which represents stronger demand from US-based markets. Such a pattern is frequently linked to institutional accumulation and an increase in local demand. According to the on-chain expert, the shift is a signal worth paying close attention to in the recent market trends.

Presently, the development provides Bitcoin’s ongoing upward trend an additional boost and may support the current bullish market sentiment. With the growing adoption and interest in BTC from US investors, the flagship asset could be poised for another major rally as seen in past scenarios, suggesting that the bull market is not yet over.

A Resurgence Of BTC’s Whale Investors

Heightened interest has gained steam among major BTC investors. While prices have briefly declined, the number of whale wallet addresses holding 1,000 BTC or more has started to climb once again, a trend that signals renewed conviction in the asset.

A recent report from Glassnode shows that these large investors have begun increasing after dropping in late April. From late April till now, this cohort rose to 1,455 even as BTC’s price surged to a new all-time high days ago.

This increase amidst the current consolidation phase raises the possibility that long-term investors and institutional players are capitalizing on recent price swings and preparing for a future change in the market. Since growing whale accumulation has historically led to major moves, this development could be a bullish indication of a sustained uptrend.

BTC trading at $109,065 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Getty Images, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Why crypto prices spike yet Dow Jones, US dollar index fall
Crypto Trends

Why crypto prices spike yet Dow Jones, US dollar index fall

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Crypto prices rose this week as US stock indices like the Dow Jones, S&P 500, and the Russell 2000 dropped sharply. The US dollar index also had the worst performance since April, when Donald Trump announced his “reciprocal” tariffs.

Bitcoin (BTC) jumped to a record high of $111,900, while the market capitalization of all altcoins excluding Bitcoin soared to $1.29 trillion, the highest point since February this year.

The Dow Jones, which tracks 30 blue-chip companies, dropped to $41,340, down by 3.45% from its highest level this month. Other top blue-chip indices fell by over 1.2%, erasing billions of dollars in value.

The US Dollar Index, which tracks the greenback’s performance against a basket of currencies, dropped to $99.10, moving into a technical correction. A correction happens when an asset’s price drops by 10% from a local top.

Dow Jones, Bitcoin, US dollar index, and S&P 500 | Source: TradingView

Crypto prices outperform

Bitcoin price outperformed U.S. stocks and the greenback because of its emerging role as a safe-haven asset as BlackRock predicted in this white paper. In it, the biggest asset manager in the world noted that gold was becoming a hedge against the soaring US public debt.

Therefore, Bitcoin rose after Moody’s downgraded the US credit rating from Triple-A to a notch lower, citing the substantial debt. Moody’s joined the other two rating agencies, S&P Global and Fitch, which have also slashed their Triple-A rating.

The sell-off of stocks and the US dollar continued after the House of Representatives voted for Donald Trump’s “Big Beautiful Bill,” which cuts over $4 trillion in taxes. The bill is estimated to increase the public debt by $4 trillion to $5 trillion over a decade, a concerning development as the national debt is approaching $37 trillion.

U.S. stocks dropped on Friday after Trump warned that the U.S. would implement a 50% tariff on European goods on June 1. The EU has warned that it will reciprocate, a move that will disrupt annual trade volumes worth over $1.7 trillion. 

Analysts note that Bitcoin’s fundamentals are strong enough to withstand these concerns. For one, data shows that demand among institutions is rising, as supply continues falling this year. Bitcoin is also seen as digital gold, which may help it do well in the long term.



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