TLDR
- Ada ETF -approval odds have reached 71% before the 29 -second deadline
- Daily transactions increased from 30,000 to 50,000 in recent weeks
- Price that currently acts at $ 0.7524 with haussearted technical indicators
- Ada Tokens $ 680 million moved off exchanges and signals Haussey feeling
- Transaction volumes reached $ 684.6 million in a single day
Cardano’s native Token ADA has seen increased marketing activity as Cryptocurrency is approaching a critical regulation decision. With Sec set to determine Grayscales Spot Cardano ETF application on May 29, the market responded with increased trade and measurement values on the chain that show renewed interest in blockchain.
The odds of an ADA ETF approval have climbed to 71% on the polymarket, Selecting the highest level of optimism since April 20. This represents a significant transition from mid -April when the chance of approval by the end of 2025 was only 37%.
Eric Balchunas, ETF analyst at Bloomberg, has expressed even higher confidence, which indicates that there is a 75% chance that ETF will be launched this year. He also indicated that SEC can approve several crypto -etf already this summer.
SEC has up to 240 days to review Graysscale’s place Ada ETF archiving, with the final deadline set for October 22. While the date May 29, an interim decision is represented, many analysts believe that a delay is more likely than a direct approval or rejection at this stage.
The prospects for institutional investments through an ETF have operated marketing activities, with the ADA price that rises about 5% over the past week and 8% since the beginning of May.
Activity on the chain
Daily transactions on Cardano network has seen a significant increase, climbing from under 30,000 in early May to a current level of 50,000. This growth in network use coincides with the increasing expectation regarding the ETF decision.
Transaction volumes have also shown strength and reaches $ 684.6 million over a 24-hour period. This metric suggests active use of the network in addition to only speculative trade.
Addition to the haus -like feeling indicates data from the Cardano flow that Ada tokens of $ 680 million have left exchanges. This movement of tokens to private wallets usually signals investors intention to hold rather than selling in the short term.
ADA currently acts at $ 0.7524 and maintains its position above the 100 -week sliding average, which acts as an important long -term support level. RSI stands at a neutral 51, while MACD and Momentum indicators show some baisse -like pressure in the short term.
Growth challenges remain
Despite the positive price measure and increasing transaction bills, Cardano faces challenges in its ecosystem development. The network currently supports only 48 defi applications and has $ 443 million in total value -lined, with only $ 31 million in Stablecoins circulating on the platform.
These figures place Cardano behind newer blockchain networks such as Unichain and Sonic when it comes to defi adoption and use. This ecosystem performance represents a potential obstacle to long -term growth.
Cardano, however, exceeds Ethereum and Solana in core developer activity, which can signal future improvements to the platform’s capacity and functions.
Technical analysts remain optimistic about ADA’s price prospects. If the current momentum holds, the price can test for last year’s high at $ 1.207. A breakthrough above that level can open the road to $ 2, with some analysts suggesting even higher targets of $ 3 to $ 4.50 based on historical designs.
The 29 SEC decision represents an important catalyst for ADA’s next move. Sec -Sec’s approval was able to open the door for institutional investments and potentially send ADA above $ 0.84, which can potentially initiate a new rally.
The next 24 hours will be crucial for Cardano as traders are waiting for SEC’s judgment on the ETF application, which can set the tone for ADA’s price measure in the coming months.