Why ADA surpasses Bitcoin and Ethereum – Tradingview News

While the broader cryptocurrency market, ADA’s Cardano is among the most prominent performance. At the time of this post, ADA was traded from Cardano for 0.8035, which represents a 3 % and 14 % decrease a day and a day, respectively.

On the other hand, Bitcoin decreased by 1 %, while gaining the second largest digital assets, ETHEREM, 1.84 % in the same period, according to Coinmarketcap data.

The market now expects this to be the beginning of a larger march, and the price may rise to $ 1 in the coming weeks. However, these optimistic goals depend on the main developments, including the potential approval of Cardano ETF in the United States.

Cardano Ada Price, Source: Coinmarketcap

Will ADA reach $ 1 soon?

Technical analysts follow the ADA prices, see promising marks for the continuation of the upward trend. Such an increase requires the market value of the Cardano exceeding $ 350 billion, which is a huge leap of its current evaluation of less than $ 30 billion.

In addition to optimism, the director of GrayScale Crypto Asset to get Caradano ETF stain with the New York Stock Exchange. If approved, ETF will provide for institutional and retail investors an organized method of exposure to ADA without maintaining the original directly.

SEC’s position on SEC’s investment funds has evolved, as the industrialists have indicated that the new leadership of the regulation seems more accepted for investment products in digital assets.

ADA jumps 14 % on ETF news

The distinctive code reached the highest level during the day 0.80 dollars, although 17 % is still less than its peak in January $ 1.16. Despite the recent fluctuations, ADA has increased by 140 % over the past six months. Many analysts believe that if SEC agrees to the ETF app for Grayscale, ADA can maintain its upper path.

Adausd Plan, Source: Coinmarketcap

The Spot Spot Crypto ETF market witnessed a mixed performance in February. Bitcoin Spot investment funds have seen all of the external flows and flows, with FBTC’s FBTC and Gramesale GBTC, which suffers from significant withdrawals.

Meanwhile, Spot Etherum Etfs showed flexibility, just one day of external flows this month. For Cardano, the path is still uncertain, but the increasing institutional interest and strong technical indicators indicate that ADA can continue to excel. Whether it can reach one dollar soon or even $ 10 by 2025, it will depend on market conditions and organizational approvals in the coming months.