In recent weeks, turbulent were for crypto investors, but now we see signs of recovery in various projects. One of the striking winners is Cardano (ADA), which shows an impressive rise.
ADA price rises by 15% after ETF news
The Cardano Koers today has experienced an impressive increase of 15.4% and comes close to the $ 0.80. The digital currency thus surpasses big names such as Bitcoin (BTC) and Ethereum (ETH). What lies behind this unexpected price jump?
The cause lies with Grayscale, one of the world’s largest asset managers, who recently applied for a Cardano Spot Exchange Traded Fund (ETF) at the New York Stock Exchange. This crypto news has shaken the market a lot.
Potential capital injection by spot ETF
An approved Cardano Spot ETF could be an important development, because it offers institutional investors a simple and safe way to invest in ADA. As a result, they do not have to buy or manage crypto themselves, which lowers thresholds and possibly ensures a large capital injection.
But there is an obstacle: the Chicago Mercantile Exchange (CME) does not yet offer Ada Futures. This can be problematic, since the presence of futures was a decisive factor in the approval of Bitcoin and Ethereum ETFs by the American Securities and Exchange Commission (SEC).
Solana, XRP and Dogecoin possibly the following
In addition to the application for Cardano, Grayscale also works on ETFs for other large crypto projects, such as Solana (SOL), XRP and Dogecoin (Doge). Which currency is the first to receive approval can cause large price movements. Institutional investors are eager to gain access to crypto coins other than BTC and ETH.
New technical roadmap for 2025
In addition to the ETF news, there are more developments that investors are looking forward to. Input Output (IO), the company behind Cardano, has presented an ambitious technical roadmap for 2025. This focuses on scalability, interoperability and governance, with the ultimate goal a blockchain that is suitable for a billion users within five years.
If Cardano succeeds in realizing this vision, the digital currency can rise considerably in value in the coming years.
Claim € 10 free today and do not pay trading costs over the first € 10,000!
Grab this unique opportunity with Newsbit and Bitvavo by creating an account now via the button below. Only deposit € 10 and receive € 10 free of charge. Moreover, you can act without costs for 7 days over your first € 10,000 in transactions. Start today and take advantage of the growing popularity of Crypto!
Make your account and claim € 10 for free.
Don’t miss this opportunity to take advantage of the growing popularity of Crypto!
Source: https://newsbit.nl/cardano-ada-koers-stijgt-met-15-door-etf-nieuws-dit-is-waarom/
