Cardano Anticipates Major Price Leap as ADA ETF Decision Looms
Cardano’s price is poised for a significant rise as a crucial ADA ETF deadline approaches.
the Securities and Exchange Commission (SEC) is set to decide on the Grayscale ADA ETF by October 27. Cardano’s price could soar due to this milestone. Currently, Cardano trades at $0.862,marking a 70% surge from its yearly low.
A Polymarket survey shows the likelihood of SEC approval has risen sharply. With $400,000 invested, the chance of approval stands at 83%, up from 42% in June.this increase suggests growing confidence in Cardano’s appeal as a stable and liquid crypto, much like Ethereum.
- An ADA ETF approval will attract more U.S. investors.
- Demand for similar ETFs is strong: Spot Bitcoin ETFs have gained $54 billion, and Ethereum funds $13.6 billion.
Other factors could boost Cardano’s value too. A potential Ripple partnership and upcoming sidechain project “Midnight” add to its allure. The ongoing Glacier airdrop also excites the community.
Technically, Cardano looks promising.It has reached new highs following patterns like the double bottom and golden cross. A bullish flag formation hints at further gains.
Looking ahead, Cardano might hit $1.325 – a 56% uplift from today’s rate.Thes signs indicate the token could soon see a powerful upward trend.
