The U.S. Securities and Exchange Commission (SEC) has introduced a new variable to the market by postponing the review of Grayscale's spot Cardano (ADA) ETF to July 15th.
The SEC has a review period of up to 240 days for this spot ADA ETF, with the final decision deadline set for October 22nd. Following this SEC decision, the ADA price dropped by 7% in the past 24 hours.
However, analysts still believe Cardano's future outlook remains bright. Last week, whales reportedly purchased 180 million ADA, which is an indicator of strong confidence in the asset.
Technical developments are also positive. Recently, Input Output announced that through the BitVMX framework of Pairgate, Bitcoin Ordinals can now be transferred to the Cardano blockchain.
Meanwhile, Ethereum (ETH) experienced a correction in the past 24 hours but has risen 45% on a monthly basis. According to CoinGecko data, it is currently trading around $2,600.
Major cryptocurrency experts are forecasting further increases for Ethereum. X (formerly Twitter) user Dan Trade predicted that $2,800 would be a "strong resistance level difficult to break in the short term". Michael van de Poppe projected that "we could see over $3,000 in June".
XRP has been showing a downward trend recently but has risen 322% on an annual basis. Currently trading at $2.20, it has dropped 10% compared to last week. According to Santiment, XRP's realized profit supply has exceeded 98%, surpassing ADA (71%), ETH (71.5%), Dogecoin (77.9%), and Chainlink (80.5%).
Real-time news...Go to TokenPost Telegram
<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>
