The price of Cardano (ADA) has risen modestly after Grayscale filed for a spot ADA ETF. ADA reached a high of $0.788, up over 53% from its lowest level last week and up over 150% from its lowest level in 2024. The filing of an ADA ETF is expected to generate hype and institutional demand, leading to higher prices. However, there are risks to consider, such as Wall Street's preference for Bitcoin ETFs and the lack of staking yield in Ethereum and ADA. Additionally, concerns have been raised about Cardano's lack of major applications and developments. The ADA price is currently stabilizing, and if it enters the bullish third phase, it could reach $1.679.



Other News from Today