Binance Traders Shift Bearish as Cardano (ADA) Faces 25% Drop Risk

Cardano's ADA is currently experiencing significant bearish pressure, with its price struggling to maintain support above $0.74. This represents a 7% decline over the past week, despite a strong 118% quarterly gain. On-chain metrics and trader positioning on Binance suggest the potential for further downside, with exchange net outflows slowing to $5.24 million as of August 4, indicating reduced accumulation pressure. The Binance long/short ratio has notably dropped to 0.86, with 53% of traders now holding short positions. This shift in sentiment raises concerns about a possible 25% price drop if current trends persist. The weakening momentum among buyers and declining on-chain activity could exacerbate the downward pressure on ADA's price in the NEAR term.

Cardano Price Risks 25% Drop As Buyers Lose Momentum

Cardano's ADA faces mounting bearish pressure as its price struggles to hold above $0.74, marking a 7% weekly decline. Despite a 118% quarterly gain, weakening on-chain metrics and trader positioning suggest potential for further downside.

Exchange net outflows have slowed to $5.24 million as of August 4, signaling diminishing accumulation pressure. The Binance long/short ratio has dropped to 0.86, with 53% of traders now holding short positions - a concerning shift in market sentiment.

Technical indicators mirror this caution. The shrinking divergence between spot outflows and price action suggests weakening demand, potentially opening the door for increased selling pressure. Market participants are watching the $0.70 support level closely, as a breach could trigger the projected 25% correction.

BNB Rebounds Toward $760 Amid Broader Market Weakness

BNB has defied the broader cryptocurrency sell-off, climbing back toward $760 after testing key support at $750. The token's resilience stands in contrast to major digital assets weighed down by geopolitical tensions and macroeconomic uncertainty.

Binance's native token found strong buying interest from both retail and institutional investors, with trading volumes supporting its recovery from intraday lows near $746. Corporate adoption continues to grow, with multiple companies adding BNB to their treasuries.

The asset's relative stability - down just 10% from its peak compared to 30-60% declines for other exchange tokens - reinforces its position as a market leader. BNB now commands 81.4% dominance in the exchange token sector by market capitalization.

Binance's recent platform enhancements, including a web wallet version and expanded Bitcoin options, appear to be supporting investor confidence. Technical factors also contributed to the rebound, with the $746 level attracting significant buy-side volume.

PENDLE's Boros Introduces Tokenized Funding Rates as Onchain Yield Instruments

Boros, a new primitive by PENDLE, transforms the volatile funding rates of perpetual futures into tradable, tokenized yield instruments. Initially supporting Binance's ETH and BTC perps, Boros enables fixed-vs-floating funding rate swaps, creating a derivatives layer for DeFi. Traders can hedge exposure by fixing funding costs, while protocols like Ethena can monetize funding flows.

The innovation lies in Yield Units (YU), which allow long perp traders to lock in carry costs and stablecoin protocols to secure fixed payments. Boros complements Ethena's strategy, offering a mechanism to convert erratic funding into stable coupons—enhancing reserve planning and risk management.

Delhi High Court Orders WazirX Operator to Disclose Binance Agreement Amid Legal Dispute

The Delhi High Court has mandated Zettai Pte Ltd, the Singapore-based owner of crypto exchange WazirX, to produce its acquisition agreement with Binance and disclose details of its restructuring plan within a week. Justice Sachin Datta issued the directive as part of ongoing legal proceedings following a $235 million hack in 2023.

Creditors are pushing for transparency, including a call for a Special Investigation Team to probe the 2024 security breach. Meanwhile, WazirX completed a revote on its amended restructuring plan on August 6 after Singapore’s High Court overturned an earlier rejection. Voting was conducted via secure third-party platform Kroll Issuer Services.

Tokenized Stocks and Altcoins Surge as Crypto Market Flips in July

Tokenized stocks experienced explosive growth in July, with market capitalization soaring 220% month-over-month. Binance's latest report reveals TSLA and SPY tokenized products reached $53.6 million in market cap, while on-chain addresses ballooned from 1,600 to 90,000. Centralized exchange trading activity dominates blockchain platforms by 70x, signaling untapped demand beyond visible on-chain metrics.

The sector's potential becomes evident when considering global equities: just 1% tokenization WOULD create a $1.3 trillion market—eight times larger than DeFi's peak. Backed Finance's xStocks leads the charge in Europe while preparing for US expansion as regulatory clarity improves.

Ethereum outperformed all major digital assets with a 51% July rally, fueled by spot ETH ETF inflows and unprecedented corporate adoption. Twenty-four companies added ETH to balance sheets, increasing corporate holdings by 127% to over 2.7 million ETH. This altcoin resurgence marks a dramatic shift from Bitcoin's prolonged market dominance.

Ethereum-Led Altcoin Rally Reshapes Crypto Markets as Bitcoin Dominance Fades

July marked a seismic shift in cryptocurrency markets as ethereum spearheaded an altcoin rally that eclipsed Bitcoin's performance. ETH surged 51% during the month—outpacing BTC's gains—while corporate treasuries accumulated 2.7 million ETH, a 127% quarterly increase. Institutions like Bitmine and Sharplink now hold more Ethereum than the Ethereum Foundation itself.

Bitcoin's market dominance crumbled to 60.6%, its lowest level since January, as capital rotated aggressively into ETH, XRP, and even meme coins like DOGE. The rally coincided with 19 consecutive days of net inflows into spot ETH ETFs and regulatory progress on the GENIUS Act for stablecoins.

Binance Research attributes the momentum to a rare convergence of factors: revived risk appetite, corporate accumulation, and regulatory tailwinds. The report suggests this may represent the most significant capital rotation event of 2024, with altcoins now setting the market's tempo.