Cardano is back in the spotlight as speculation regarding a potential ETF accumulates. In the opinion of analysts, recent regulatory changes are positive for the project and open the doors for bigger investors and wider awareness worldwide. In the meantime, strong trends in the markets and building futures activity imply a breakout potential for ADA.
At the time of writing, ADA is trading at $0.8900. It has a 24-hour trade volume of $1.92 billion and a market capitalization of $32.02 billion. The token is down 1.54% in the last 24 hours, but bigger changes are anticipated based on analysts’ predictions.
Popular crypto analyst Mintern suggested a Cardano ETF might be closer than it appears. It follows Galaxy Research, observing that the recently enacted fast-track rule issued by the SEC might fast-track approval of certain digital asset ETFs.
With Cardano currently being traded through regulated futures, analysts think it is perfectly positioned as one of the next cryptocurrencies to be given ETF status.
If approval of an ADA ETF would represent a first for the network, a much-needed influx of Wall Street capital, added liquidity, and increased ADA awareness globally. It is seen as part of the firm establishment of ADA in the general financial system.
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Adding to the optimism, another analyst, Cardano Feed ($ADA), highlighted that the project’s cycles and fractal analysis are signaling a price objective of $1.86. ADA futures open interest is also building up, signaling increasing market activity and anticipation of large price swings.
With regulatory and technological tailwinds building pace, Cardano’s future is rosier than ever. The collision between ETF speculation and bullish cycle analysis is leaving everybody with the query: Is ADA set to enter its next grand chapter?
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