Cardano traded near $0.28 after Coinbase made ADA eligible collateral in its on-chain lending product. Through an integration with the DeFi lending protocol Morpho, eligible U.S. users can now borrow up to $100,000 in USDC against ADA, with New York residents excluded. The setup gives holders a way to unlock liquidity without selling tokens, which also avoids taxable events tied to asset disposal.
Coinbase broadens collateral options in on-chain lending
Coinbase launched the lending service last year with Bitcoin and Ether. The company said the product has already generated more than $1.9 billion in loan originations. ADA now joins XRP, Dogecoin, and Litecoin as newly supported collateral assets. The expansion widens access for borrowers and reflects stronger demand for decentralized borrowing tools across both retail and institutional segments.
Arizona reserve bill advances in the state senate
Digital asset policy also moved forward in Arizona. SB1649, introduced by Mark Finchem, would create a Digital Assets Strategic Reserve Fund. The bill passed the Senate Finance Committee in a 4-2 vote and now heads to the Senate Rules Committee. Under the proposal, the state could manage appropriated Bitcoin, XRP, and other digital assets to generate returns. The draft also includes stablecoins, NFTs, and DigiByte.
Whale wallets added 240 million ADA in one week
On-chain data from Santiment showed continued accumulation by large holders during the recent price weakness. Wallets holding between 1 million and 10 million ADA, together with wallets holding 10 million to 100 million ADA, acquired a combined 240 million ADA over the past week. That buying came even as the token remained below a key resistance area.
$0.27 support and $0.30 resistance remain the key range
At the time of writing, ADA was trading around $0.275, showing a mild intraday decline. The token continues to move between support at $0.27 and resistance near $0.30. On the technical side, the MACD shows the signal line above the MACD line, indicating short-term bearish pressure. If ADA can hold above $0.28, price may push toward $0.29 and then test the $0.30 zone. If support at $0.27 breaks, the next levels in view are $0.26 and $0.25.