Cardano Price Prediction: Grayscale Drops Cardano ETF Plan as ADA Battles $0.20
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Grayscale withdrew its proposed Cardano Trust ETF registration with the SEC, removing a near-term catalyst as ADA struggles below $0.20 and leaving a fragile bullish structure entering August 10. Derivatives metrics show open interest falling to $472.13 million and spot flows recording only an $834,170 net inflow, signaling weaker leveraged participation and limited trader conviction for ADA and broader crypto/DeFi adoption.
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- Grayscale’s ETF withdrawal removes a near-term catalyst as ADA struggles below $0.20.
- Falling open interest to $472.13 million signals weaker leveraged participation in ADA.
- Mixed spot flows show limited conviction despite ADA’s modest $834,170 net inflow.
Cardano faces renewed pressure as Grayscale withdraws its proposed Cardano ETF filing. The move comes while ADA struggles to break above the critical $0.20 level. At the same time, falling open interest signals weaker participation across the derivatives market. Spot market flows also show limited conviction among traders. Consequently, ADA enters August 10 with its bullish structure intact but facing several warning signs.
Grayscale Pulls Cardano ETF Filing
Grayscale withdrew its proposed Cardano Trust ETF registration from the U.S. Securities and Exchange Commission. The firm also withdrew filings conne…
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