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On November 28th, according to the Financial Times, Belgian Prime Minister Barthes de Wever warned that rushing the EUs plan to use frozen Russian assets to raise €140 billion in loans for Ukraine would undermine the possibility of a peace agreement. In a letter to European Commission President Ursula von der Leyen, de Wever outlined three key conditions: EU member states must provide legally binding joint guarantees for €185 billion in Russian assets held in trust at Eurobank; they must share potential litigation costs; and other EU member states must also contribute their frozen Russian assets to the loan program. De Wever emphasized in the letter that "rushing into a compensation loan program would lead to collateral damage – as the EU, we are effectively hindering the final peace agreement." He also proposed an alternative: the EU should utilize its untapped borrowing capacity under the budget framework to provide €45 billion in aid to Ukraine. While most EU countries support this loan program, Belgium, as the main trustee of Russian assets, is concerned about potential Russian retaliation and legal risks.The Society of Motor Manufacturers and Traders (SMMT) reported that UK car production fell 23.8% in October to 59,010 vehicles.The yield on 40-year Japanese government bonds fell 2.0 basis points to 3.665%.Japans inventory rose 0.6% month-on-month in October, compared with 0.8% in the previous month.Japans preliminary industrial production growth rate for October was 1.5% year-on-year, below the expected -0.50% and the previous reading of 3.80%.

ADA Price Prediction: Bulls Eye $0.410 on Network Upgrade Plans

Cory Russell

Feb 06, 2023 15:40

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Saturday saw a 1.24% decline in ADA. ADA finished the day at $0.399, somewhat erasing a 1.51% gain from the previous day. The handle of $0.400 was visited by ADA for the sixth session running.


ADA dropped to a morning low of $0.398 due to a negative start to the day. Ahead of the First Major Support Level (S1) at $0.397, ADA increased to a high of $0.406 in the early afternoon. The First Major Resistance Level (R1), which is at $0.409, was not reached, hence ADA returned to the session low of $0.398 before closing the day at $0.399.

Silence from IOHK and EMURGO Puts ADA in the Red

There were no network updates to provide context on this quiet Saturday session. Investors are waiting for developments on the scheduled launch of EMURGO's USDA algorithmic stablecoin after last week's COTI launch of DJED.


Investors were left to lock in gains as Input Output HK (IOHK) also went quiet at the beginning of the weekend due to radio silence. The perception of the Cardano network and the predicted rise in ADA use, however, continue to be negative factors.


There will be another Cardano hard fork this month. The implementation of CIP-0049 will make it easier to use other blockchains. The enhanced interoperability will provide programmers a safe environment in which to create cross-chain DApps. A more optimistic pricing prognosis should be supported by the upgrade, which is another improvement.


Investors will be watching for the debut of the USDA stablecoin today, and network updates will give guidance. However, in the absence of network updates, the larger crypto market would be left to determine price direction.


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