- Cardano ETF speculators have elicited mixed reactions. ADA has dropped 5% in price.
- Historic data and the upcoming Chang Hard Fork inspire optimism for ADA’s future gains.
Two days after the approval of trading in spot Ethereum [ETH] ETFs, Cardano [ADA] ETF is a subject of increasing interest.
Cardano ETF next in line?
A recent posting on X ignited the excitement. Tap ToolsA platform for tracking NFTs and wallets in the Cardano network.
The post posed a provocative query, sparking discussions and speculations within the crypto-community about potential implications of ADA given recent regulatory changes. It asked:
“Is an $ADA ETF up next?”
Hoskinson’s Response
In response, Cardano founder Charles Hoskinson I replied by sending a GIF of a super hero, with the caption,
“Fine, I’ll do it myself.”
Hoskinson’s participation in the conversation sparked further speculations from the ADA.
Some were not as excited as expected. A user using the handle X highlighted this feeling. Batman remarked,
“We don’t want a Cardano ETF.”
Price impact on ADA
ADA’s price has also not responded positively to this news. It fell by more than 5% over the last 24 hours. CoinMarketCap.
The Relative strength Index (RSI) confirmed this trend, which remained at less than neutral 44. This indicates a negative sentiment.
TradingView
Bollinger bands converging also suggested lower volatility and that the current trend could continue.
AMBCrypto’s IntoTheBlock analysis showed a balance in sentiment, without a clear bull or bear dominance.
Source:
Chang Hard Fork Update to change price dynamics?
The upcoming Chang Hard Fork is expected to boost ADA’s price.
The historical data also supports this optimism. During August 2021’s previous Alonzo Hard Fork, ADA climbed by 130% and went from $1.35 per ADA to $3.10.
The community expects to see similar results with the Chang upgrade The potential for an ADA ETF to be introduced is next.
It is important to note that Ripple CEO Brad Garlinghouse He had predicted an ETF for Cardano when he made his comment.
“I think it’s just a matter of time, and it’s inevitable there’s gonna be an XRP ETF, there’s gonna be a Solana ETF, there’s gonna be a Cardano ETF, and that’s great.”
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: ambcrypto.com
