With Cardano (ADA) being a proof-of-stake (PoS) blockchain platform meant to trigger positive global change across visionaries, innovators, and changemakers, the 10th-largest cryptocurrency continues to attract notable attention.
As a result, renowned market analyst Ali Martinez recently acknowledged that, based on historical data, Cardano was eyeing an 18,750x increase in price level from the current one of $0.59.
Martinez pointed out, “If historical data is any guide, Cardano could be at the very beginning of a monster parabolic rally.”
Crypto analyst Nala echoed these sentiments and stipulated that history was repeating itself, and ADA was getting ready to explode soon.
Will a Cardano ETF See the Light of Day?
Since leading asset management firm Grayscale recently filed for a Cardano exchange-traded fund (ETF) with the New York Stock Exchange, fingers remain crossed on whether it will get the green light.
This is because ETFs play an instrumental role in enhancing institutional investments, which is bullish for an asset’s overall adoption.
Therefore, Grayscale’s decision to have a Cardano ETF in place illustrates ADA’s growing institutional interest.
Furthermore, ADA’s open interest has been on an upward trajectory after hitting $850 million, representing an 18.9% increase, according to Coinglass data.
Meanwhile, Cardano recently received a major boost through an innovative and strategic partnership with Walmart meant to roll out a crypto cashback program featuring ADA.
