- Cardano’s ADA shows resilience despite broader market struggles, trading at $0.8035, down 3% daily and 14% weekly, while Bitcoin and Ethereum show mixed movements.
- Grayscale has filed for a spot Cardano ETF, which, if approved, could attract institutional investment and drive ADA’s market cap beyond $350 billion, fueling a potential rally toward $1 and beyond.
- ADA surged 14% on ETF speculation, reaching $0.80, though still 17% below its January peak. Analysts believe ADA could sustain bullish momentum, possibly hitting $10 by 2025, depending on market conditions and regulatory decisions.
While most of the crypto market struggles to gain traction, Cardano’s ADA is holding its ground, showing resilience even amid broader downturns. At the time of writing, ADA trades at $0.8035, reflecting a 3% dip over the last 24 hours and a 14% decline over the past week.
Bitcoin, on the other hand, has dropped 1%, while Ethereum, surprisingly, has managed to climb 1.84%, according to CoinMarketCap data.
Despite the short-term losses, optimism is growing. Many believe ADA could be on the brink of a much larger rally, with some analysts eyeing the $1 mark in the coming weeks. But for that to happen, several key factors need to align—most notably, the approval of a spot Cardano ETF in the United States.
Is ADA Primed for a Breakout?
Technical analysts tracking ADA’s price action see promising signs of further upside. However, for ADA to push toward $1 and beyond, Cardano’s market cap would need to surpass $350 billion—a massive leap from its current valuation of under $30 billion.
Adding fuel to the fire, Grayscale has officially filed for a spot Cardano ETF with the New York Stock Exchange. If approved, this would open the doors for both institutional and retail investors to gain exposure to ADA without needing to hold the asset directly.
The SEC’s stance on crypto ETFs has been shifting, with industry experts noting a more receptive attitude under the current regulatory leadership. If the approval goes through, ADA could experience a major influx of capital, setting the stage for a strong rally.
ADA Jumps 14% on ETF Speculation
Following the ETF filing, ADA briefly surged to an intraday high of $0.80, though it still sits 17% below its January peak of $1.16. But let’s not forget—over the past six months, ADA has skyrocketed 140%, proving it still has plenty of strength left.
If the ETF receives the green light, many analysts believe ADA could sustain its bullish momentum, possibly even surpassing its previous highs.
Meanwhile, crypto ETFs have had a mixed February. Spot Bitcoin ETFs have seen both inflows and outflows, with major players like Fidelity’s FBTC and Grayscale’s GBTC experiencing significant withdrawals. On the other hand, Ethereum spot ETFs have remained relatively strong, with only one recorded day of outflows this month.
For Cardano, the future remains uncertain, but signs point toward growing institutional interest and strong technical indicators. Whether ADA can reclaim $1 soon—or even set sights on $10 by 2025—will depend on how the market and regulatory environment evolve in the coming months.
