Cardano Price Rises to $0.255 Amid Lace Wallet Scam Alert
Cardano (ADAUSD) price rose 2.08% to $0.255 over the past 24h, closely tracking a broad market rally and supported by positive ecosystem developments.
The move is primarily driven by beta-driven momentum as the total crypto market cap rose 2.1%. According to crypto analysts, ADA’s positive price movement mirrors Bitcoin’s +2.36% rise and the total crypto market’s +2.1% expansion.
This indicates the move was largely driven by broad market sentiment, which shifted to “Greed” (62) on the Fear & Greed Index.
Two key developments provided fundamental support: EMURGO (a Cardano co-founder) launched SecondFi, a comprehensive neofinance platform.
Technically, ADA is testing near-term resistance. A confirmed break above the $0.26 level could target the 161.8% Fibonacci extension at $0.265.
The key near-term catalyst is progress toward the Protocol 11 (Van Rossum) upgrade, which aims to optimise network performance.
Technical traders said if the price fails to hold the 7-day Simple Moving Average at $0.255, it risks a pullback toward the $0.25 support zone.
The structure is cautiously bullish but requires a decisive breakout for conviction. A daily close above $0.26 on rising volume will confirm bullish momentum.
The 24h gain is a combination of a favourable market beta and genuine ecosystem strength. The key test is whether ADA can decouple from the broader market and break technical resistance.
The team behind Lace, Cardano’s official Web3 wallet, issued a scam alert on April 21. Fraudulent versions of the Lace app appeared on the Apple App Store and Google Play, attempting to steal users’ recovery phrases.
The developers emphasised that the legitimate Lace mobile app has not been released yet and is only available as a desktop browser extension.
Crypto analysts said this is a bearish reminder of persistent security risks in the ecosystem.
While it shows proactive community protection, it underscores the threats ADA holders face and could temporarily dampen confidence for new users exploring Cardano wallets. XRP Rallies on ETF Inflows, Ripple Tops Binance Coin