Quick overview

Live ADA/USD Chart

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Charles Hoskinson’s optimistic post on Twitter and the SEC’s approval of Grayscale’s multi-token ETF have sparked renewed interest in Cardano, which is currently trading at approximately $0.92, having dropped about 70% from its all-time high (ATH) in September 2021. Short-term market sentiment will largely depend on ETF inflows and regulatory clarity.

 

According to ETF analyst Nate Geraci, the SEC-approved multi-token ETF from Grayscale may drive up demand by including exposure to ADA, Cardano’s native token.

Cardano’s price is currently about $0.92. Traders monitor ADA’s momentum and the inflows related to the ETF in light of Hoskinson’s optimistic post and the ETF’s approval.

Factors such as demand for ETFs, overall market sentiment, and on-chain activity will all influence short-term price movements. Additionally, the fundamentals will continue to be shaped by regulatory signals and ongoing development efforts. The SEC’s approval of Grayscale’s multi-token ETF has created an official pathway for institutional investors to enter the ADA market, listing ADA alongside other tokens. Nate Geraci emphasizes that there is significant demand for multi-token products, which could lead to increased inflows into ADA that align with the fund’s token weightings.