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Grayscale’s Cardano ETF: A Brief Boost for ADA?

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The rocket labeled "Cardano" and "ADA" struggles to take off despite the smoke and flames, while a frustrated astronaut watches the scene.

The crypto market is often driven by spectacular announcements and hopes of institutional adoption. Indeed, one of the latest events, the filing of a Cardano ETF (GADA) by Grayscale, triggered a wave of optimism around the ADA token. This caused a 20% jump in just a few days. However, this euphoria was not enough to push Cardano to the next level: its price quickly encountered a key resistance before retreating.

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