Altcoin
Grayscale Files For Cardano ETF With NYSE as Race Heats Up
Grayscale Investments has submitted an application to the New York Stock Exchange (NYSE) for a Cardano exchange-traded fund (ETF). This marks a step in the growing interest in cryptocurrency ETFs. The move is part of the company’s strategy to expand its crypto ETF offerings, following its recent filings for XRP, Solana, and Litecoin ETFs.
The Cardano ETF filing adds to the increasing list of institutional moves aiming to provide regulated exposure to popular cryptos.
Grayscale Joins Race with Cardano ETF Application to NYSE
In a recent filing, Grayscale submitted its proposal for a Cardano ETF with the NYSE, further diversifying its crypto offerings. The filing comes as part of a larger push by Grayscale to expand its presence in the growing cryptocurrency market. The firm has already filed similar ETF applications for other popular cryptos, such as XRP, Solana, and Litecoin.
With the increasing institutional interest in digital assets, this move is a significant step toward regulated exposure for institutional investors seeking access to Cardano.
Grayscale’s Cardano ETF application comes when institutional interest in cryptocurrency is expanding. With Cardano (ADA) becoming one of the top-performing assets, this ETF could offer a regulated route for traditional investors to gain ADA exposure.
The Cardano network has gained substantial recognition for its focus on scalability, security, and sustainability, factors that appeal to investors.
Moreso, these developments come when the US SEC seeks public comments on Grayscale’s Litecoin ETF proposal, allowing for a 21-day submission period. Litecoin ETFs are gaining attention as the SEC assesses Grayscale’s request to convert its Litecoin Trust into an exchange-traded product.
Recently, asset managers like Grayscale and Coinshares have taken steps to expand crypto ETF offerings, signaling growing interest.
Competition in the Crypto ETF Space
Grayscale’s filing is part of a trend in the crypto market, where multiple asset managers are vying to offer ETFs linked to popular digital assets. Recently, other firms, including WisdomTree and Bitwise, have submitted similar applications to the U.S. Securities and Exchange Commission (SEC) for XRP ETFs.
Additionally, Swedish asset manager Virtune AB launched a Cardano exchange-traded product (ETP) on Nasdaq Helsinki, catering to institutional investors.
As the market continues to mature, more financial institutions are exploring the idea of crypto ETFs, especially for major cryptos like Cardano. The introduction of a Cardano ETF by Grayscale will provide more opportunities for investors looking to diversify their portfolios with ADA exposure.
Impact on Cardano Price
The introduction of a Cardano ETF could have a significant effect on ADA price and market sentiment. As more institutional investors gain exposure to Cardano, increased demand could lead to upward pressure on ADA price. Currently, the ADA remains relatively stable, but the potential for more institutional capital entering the space through an ETF could cause a rise in its price.
In addition, if Cardano price holds above the $0.67–$0.81 support range, it could signal strength and set the stage for an ADA price rally. Technical indicators, including the TD Sequential buy signal, further support the possibility of a bullish reversal. However, if Cardano price fails to maintain this support, a drop below the range will lead to further declines.
At the time of writing, Cardano price stands at $0.7068, reflecting a 3% increase in the past 24 hours. The market cap has risen to $24.87B, and the trading volume is up by 11.15%, reaching $752.82M.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Dogecoin price is now touching important support and resistance levels with experts trying to determine the future direction. As the top meme coin fluctuates near the support and resistance levels, market analysts have predicted the higher and lower possibilities. Both the technical analysis and historical data suggest how the prices could reverse higher or further consolidate in days to come.
Dogecoin Price Faces Critical Test: Will Support Hold or Break?
Dogecoin price is facing strong resistance at $0.176, with a Bearish Tweezer candlestick pattern forming on the daily chart. According to Trader Alan, this pattern is a strong reversal signal, suggesting that selling pressure is increasing. The resistance level has already seen a false breakout, where Dogecoin price briefly moved above $0.176 but failed to hold. This failure indicates weak bullish momentum and a possible downward move.
The analyst suggests that if the price moves lower, Dogecoin price could retest the $0.143 support level. If selling pressure intensifies, the meme coin may trade within a range between $0.143 and $0.176. A break below this support could trigger further declines, pushing the top meme coin to a deeper correction phase.
However, if buyers step in and defend the $0.143 level, Dogecoin price may continue consolidating within this range. Analyst states that for a bullish breakout to occur, DOGE must establish higher lows and build momentum near the $0.176 resistance level. A sustained move above this resistance could invalidate the bearish outlook, leading to an upward trend.
Analyst Predict Possible 16% Breakout
Analyst Ali Martinez has identified an ascending triangle pattern on Dogecoin price charts, indicating the potential for a breakout. This bullish pattern forms when higher lows develop while the price repeatedly tests a horizontal resistance level. In this case, the key range for a breakout is between $0.16 and $0.18.
Martinez suggests that if DOGE price closes outside this range, either upward or downward, a 16% price move could follow. A breakout above $0.18 could lead to further bullish momentum, while a breakdown below $0.16 may result in a sharp decline.
Trendline at $0.14269 Could Influence Meme Coin Rally
Moreover, analyst DOGE Capital noted that Dogecoin price is following a historical pattern observed in past market cycles. The analyst points to a repeating structure where DOGE accumulates within a triangular wedge before breaking out. The key support level to watch is around $0.14269, which has previously acted as a launchpad for the meme coin rally.
DOGE Capital’s analysis suggests that when DOGE price retests this historical trendline, it tends to rebound and initiate a strong upward move. If this pattern repeats, DOGE could see another bullish breakout in the coming weeks.
Meanwhile, following the Fed’s FOMC meeting, the meme coin has shown strong upward momentum. Analysts have identified key price targets at $0.38, $0.48, and $0.60, citing bullish market conditions and increased trading volume as driving factors.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst Egrag Crypto has again provided a bullish outlook for the XRP price. This time, the analyst alluded to a previous analysis, in which he predicted that XRP could reach $130, a move which confirms that the altcoin is still on the path to this ambitious target.
XRP Price Set To Rally To $130
In an X post, Egrag Crypto confirmed that the XRP price could rally to $130. He alluded to a previous analysis in which he predicted that the altcoin could rally to this target while stating that only a few understand what is coming for the altcoin. Back then, the analyst had highlighted $130 as one of the massive macro targets as XRP eyes a parabolic breakout.
He also raised the possibility of XRP entering its most explosive phase yet and added that the “eruption is near.” Indeed, XRP might be about to enter its most explosive phase, considering that the US SEC has agreed to drop the Ripple lawsuit. This development is very bullish for the XRP price, as the long-running legal battle had negatively impacted the altcoin during the 2021 bull run.
In another X post, Egrag Crypto revealed how XRP could rally to as high as $8 in the midterm. He stated that a close above $2.66 would be a good sign, followed by another close above $2.97, which would be a second bullish confirmation.
The analyst asserted that the ultimate confirmation for a bullish trend would be a close at $3.40. Egrag Crypto stated that the next targets are between $5 to $8 if XRP hits $3.40, which is the current all-time high (ATH).
What Next For The Altcoin As Key Structure Holds
Crypto analyst CasiTrades revealed that the XRP price has held its structure. She noted that the altcoin took a strong dip to a local 0.5 retracement level but held structure right where it needed to. She added that even with the break below $2.40, XRP respected the channel structure and closed at the 1.236 extension for Wave C.
The analyst remarked that this price action is textbook Wave 4 behavior and, as long as XRP doesn’t witness further breakdowns, new highs could be loading. She warned that this is still a critical moment. If the channel continues to hold, CasiTrades predicts that the altcoin should make a push toward $2.65 to $2.70 with the breakout.
She again affirmed that $2.70 is the next major level to flip to support to continue the macro trend up towards ATH. The analyst revealed that the $2.45 price level is the resistance that will help confirm this push. Coincidentally, XRP is currently testing this level. CasiTrades warned that if the altcoin can’t break it, it could record another dip to the deeper 0.618 retracement level at $2.36.
Regardless of any dip, the crypto analyst asserted that the XRP price remains bullish on the macro degree, sitting above its major 0.382 retracement level at $2.25. She remarked that new highs above $3.40 should be printing soon.
Besides the SEC’s decision to drop the Ripple lawsuit, fundamentals such as Bitnomial’s launch of XRP Futures contracts also provide a bullish outlook for the altcoin and could spark a significant price surge.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Solana price has gained by a strong 6% in the last 24 hours moving to $135 amid the optimism surrounding the launch of futures Solana ETF by Volatility Shares on Thursday. As a result, traders have charged in with daily trading volumes for SOL surging by 61% to more than $3.57 billion.
Solana Price Action Draws Trader Interest, Is Bottom In?
Today’s Solana price action happens along with significant trader interest in the altcoin. Popular crypto analyst Ali Martinez pointed out that the Solana futures open interest has shot up to $2.7 billion, the levels last seen in October 2024. This shows a renewed interest in the Solana derivatives market while signaling growing participation from investors and traders alike.
After hitting the highs of around $270 in November 2024, the Solana price corrected more than 50% from the top in just the last four months. However, market analysts believe that SOL is showing signs of a bottom formation, and could reverse its trajectory from here onwards.
As shown in the below image, the Solana price has broken out of the converging triangle pattern. As a result, the immediate target on the upside could be in the range of $150-$180. Once the bulls successfully cross this range, we can see another leg of the rally to %260 and beyond.
Tuesday’s FOMC meeting saw the Federal Reserve keeping interest rates unchanged at 4.5%, which is the expected line. Bitcoin and the broader crypto market took this as a positive indicator with investors showing strength. The current SOL price prediction by analysts suggests that the bullish sentiment is once again picking up with the hope of an altcoin market revival.
Solana ETFs Go Live Today
In a major development for the crypto community, Florida-based investment giant Volatility Shares will bring the first-ever futures Solana ETFs to the US market. This marks the stepping stone for getting the spot ETF products into the market in the future. This is the same trajectory that was followed to bring spot Bitcoin ETF and spot Solana ETF to the market.
Volatility Shares LLC will introduce two Solana Futures ETFs with tickers – SOLZ and SOLT. Here, the standard Solana ETF (SOLZ) will directly track Solana futures, while the leveraged Solana ETF (SOLT) will provide investors with double the exposure to Solana price movements.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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