Cardano Drops Below $0.20 as Grayscale Withdraws ADA ETF Filing!
Cardano (ADA) fell about 4.7% to $0.1885 on August 11 after Grayscale withdrew its Cardano ETF registration. Grayscale also withdrew ETF applications for Hedera (HBAR) and Polkadot (DOT), citing no plans to distribute shares.
⚠️ The Irony: This withdrawal came just before Cardano futures on CME completed six months of trading—meeting one SEC generic listing criterion for commodity-based ETFs. The milestone does not guarantee approval, but it could open the door for a future filing.
Whale Activity: Major ADA holders have begun systematically reducing positions, with ADA failing to hold above its local high of $0.202.
Key Level: The next key level to watch is $0.20**. Technical analysis shows bearish signals, with potential declines toward **$0.17 if current trends continue.
$ADA
#Cardano #ADA #Grayscale #ETF #Altcoins
Cardano (ADA) fell about 4.7% to $0.1885 on August 11 after Grayscale withdrew its Cardano ETF registration. Grayscale also withdrew ETF applications for Hedera (HBAR) and Polkadot (DOT), citing no plans to distribute shares.
⚠️ The Irony: This withdrawal came just before Cardano futures on CME completed six months of trading—meeting one SEC generic listing criterion for commodity-based ETFs. The milestone does not guarantee approval, but it could open the door for a future filing.
Whale Activity: Major ADA holders have begun systematically reducing positions, with ADA failing to hold above its local high of $0.202.
Key Level: The next key level to watch is $0.20**. Technical analysis shows bearish signals, with potential declines toward **$0.17 if current trends continue.
$ADA
#Cardano #ADA #Grayscale #ETF #Altcoins