Cardano

<ul>
 <li>The price has been facing brief correction after the recent rally all the way till $0.45 level.</li>
 <li>If the price manages to go above $0.42 level, then it will likely test $0.45 resistance level.</li>
</ul>
Speculation over a possible Cardano exchange-traded fund (ETF) is now circulating among the Cardano (ADA) community. Speculation began with a recent X post by Tap Tools, a tool on the Cardano blockchain that tracks tokens, NFTs, and wallets.
With a graphic of a checklist, the tweet mentioned, “Is ADA ETF up next?” and only Cardano ETF remained after Bitcoin and Ethereum ETFs were ticked.
Tap Tools’ tweet piqued the interest of Charles Hoskinson, co-founder of Cardano. “Fine, I’ll do it myself.” he captioned a GIF picture that looked like a superhero. Within the ADA community, this playful-yet-aggressive answer sparked additional debate.
In terms of staking market cap, The Open Network (TON) has surpassed <a href="https://thenewscrypto.com/cardano-ada-price-consolidates-hinting-a-bullish-breakout/" target="_blank" rel="noopener noreferrer nofollow">Cardano</a> and is now ranked third. <a href="https://thenewscrypto.com/can-ethereum-meet-traders-bullish-expectations/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> has the most staking market cap at $115 billion, a staking ratio at 27.67%, and a reward ratio at 3.33%, according to statistics from Staking Rewards. With a staking ratio of 65.95% and a reward ratio of 2.8%, Cardano ranks fourth with a staking market cap of $9.63 billion.
<h3 class="wp-block-heading" id="h-brief-correction-underway">Brief Correction Underway</h3>
At the time of writing, ADA is trading at $0.4114, up 0.30% in the last 24 hours as per data from CMC. Moreover, the trading volume is down 12.13%. The price has been facing brief correction after the recent rally all the way till $0.45 level. The price is down 7.11% in the last 7 days.
If the price manages to go above $0.42 level, then it will likely test $0.45 resistance level. Conversely, if the price goes below $0.41 level, then it will likely test $0.38 support level. Breaking below this level will likely see price testing $0.32 support level.

Cardano (ADA) Price Faces Brief Correction After Recent Rally to $0.45

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TheNewsCrypto

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