Cardano (ADA) is attracting renewed interest from traders and investors, with a surge in its price, in line with broader market momentum. Now, the broader market is turning from bearish to bullish as major crypto coins are moving in an upward direction.
At the time of writing, ADA is trading at $0.8271 with a 24-hour trading volume of $846.62 million and a market capitalization of $29.56 billion. The ADA price over the last 24 hours is up by 0.9%, and over the last week it is also up by 0.29%.
Source: CoinMarketCap
According to the crypto analyst, Grayscale has filed an S-1 with the U.S. Securities and Exchange Commission (SEC) for a Cardano (ADA) exchange-traded fund (ETF), a move that could be pivotal for the altcoin. If approved, the product would give investors regulated exposure to ADA without directly holding it, strengthening Cardano’s presence in traditional finance.
The news has sparked strong excitement in the crypto community. Cardano’s scientific, sustainability-driven approach has set it apart from other layer-1 projects, and an ETF could boost liquidity, draw fresh capital, and elevate ADA in global markets.
While SEC approval remains uncertain, the filing highlights growing demand for diversified crypto ETFs and positions Cardano for greater mainstream recognition.
Also Read: Cardano Price Analysis: ADA Eyes $1.0200 Amid Market Volatility
Moreover, the crypto analyst, Ali, highlighted that Cardano (ADA) is currently drawing attention as analysts suggest the asset could retrace to the $0.80 region before continuing with the next upward movement.
After weeks of the gradual increase, ADA has entered the consolidation phase, where investors are on high alert as the entire crypto market starts to signal weakness.
The $0.80 level is also highlighted as a very crucial level of support, where the buyers came in the past to defend the asset. A dip into the area can restore liquidity and provide the next move up with a more stable foundation, giving the bulls the push needed to challenge the upper levels of resistance.
Source: X
If ADA successfully holds above $0.80 and the demand returns, analysts believe the token could break out of its current range and resume its upward trajectory. This will place Cardano on the track of a potential rally to the older high levels, making it once again one of the leading blockchain projects available out there.
Also Read: Cardano ADA Price Forecast: Can It Jump from $0.80 to $3.10 in 2025?
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