Ethereum

Cardano

Bitcoin

<p>The post <a href="https://coinpedia.org/news/cardano-etf-hype-heats-up-could-ada-hit-3-10-again/">Cardano ETF Hype Heats Up: Could ADA Hit $3.10 Again?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>After the <a href="https://coinpedia.org/news/ethereum-etfs-launch-with-a-bang-blackrock-and-grayscale-move-millions-in-eth/">success of Bitcoin and Ethereum ETFs</a>, attention is now turning to Cardano (ADA), with rumors about a possible Cardano ETF gaining traction. Recently, Cardano Founder Charles Hoskinson sparked optimism with a tweet suggesting that a Cardano ETF might be on the horizon.&nbsp;</p> 
<p>Could this new development push the Cardano (ADA) price back to its all-time high of $3.10?</p> 
<h2 class="wp-block-heading" id="h-is-cardano-etf-on-the-line">Is Cardano ETF On The Line?</h2> 
<p>The speculation began when Tap Tools, a tracking platform for Cardano-based tokens and NFTs, tweeted about a possible “ADA ETF up next.”</p> 
<p>Charles Hoskinson’s playful response to the tweet by a GIF captioned, “Fine, I’ll do it myself” has fueled hopes within the ADA community. While the response was lighthearted, it has been interpreted as a positive sign for the potential launch of a Cardano ETF.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="qme" dir="ltr"> <a href="https://t.co/DOwmo529PG">pic.twitter.com/DOwmo529PG</a></p>— Charles Hoskinson (@IOHK_Charles) <a href="https://twitter.com/IOHK_Charles/status/1815819542880477593?ref_src=twsrc%5Etfw">July 23, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The debut of <a href="https://coinpedia.org/news/ethereum-etfs-debut-with-record-1-billion-trading-volume/">Ethereum ETFs</a> has made a notable impact on the crypto landscape, providing investors with a favored way to invest in the second-largest cryptocurrency.&nbsp;</p> 
<p>However introducing a Cardano ETF could open up a fresh investment path for ADA, potentially enhancing its visibility and influence in the market.</p> 
<h2 class="wp-block-heading" id="h-cardano-etf-approval-could-hit-3-10">Cardano ETF Approval Could Hit $3.10</h2> 
<p>If a Cardano ETF were approved, it could have a major impact on ADA’s price. It might push ADA back towards its previous peak of $3.10, which was last seen during the 2021 bull market.</p> 
<p>As of now, ADA is <a href="https://markets.coinpedia.org/cardano/">trading around $0.391</a>, reflecting a recent 5.41% drop. Meanwhile, analysts suggest that this dip could present buying opportunities, particularly in the key support zone between $0.385 and $0.379.</p> 
<h2 class="wp-block-heading" id="h-cardano-technical-analysis">Cardano Technical Analysis</h2> 
<p><a href="https://app.intotheblock.com/coin/ADA">Data from IntoTheBlock’s</a> In/Out of the Money Around Price (IOMAP), shows that about 161,130 addresses hold 1.91 billion ADA tokens at an average price of $0.385. This support zone aligns with the price range, between $0.379 and $0.391, a crucial area for potential price reversal.</p> 
<p>In a bullish scenario, if ADA prices close above $0.445, they could rally an additional 26%, potentially reaching $0.564, which is the 50% retracement level from recent highs and lows.</p>

Cardano ETF Hype Heats Up: Could ADA Hit $3.10 Again?

Obsah

CoinPedia News

Ďalšie články zverejnené 25. 7. 2024

SEC Chairman Gary Gensler May Resign as Trump Readies for 2025 Presidential Term

Ethereum Spot ETFs Launch with $1B Volume as Whales Accumulate 112.9k ETH

SEC Approves Grayscale and ProShares Ethereum ETFs for NYSE Arca Listing

Why is the Crypto Market Down Today?

COTI and Xctuality Partner to Empower Web3 Privacy across ‘Phygital’ Ecosystem

Iris Energy Is Positioned to Become One of the Biggest Listed Bitcoin Miners: Canaccord

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!