Grayscale accumulates more Cardano showing steady and strong promise.
Chances of an ADA ETF jumps from 20% to 70%.
Cardano’s ADA prepares to surge and claim new ATH prices in altseason.
Institutional buying has been steadily growing more and more popular this bull cycle, a phenomenon that was no doubt ignited by visionary leaders like El Salvador’s President Nayib Bukele and Strategy’s Michael Saylor. While they bet on Bitcoin, other institutions stepped forward a full cycle later. Now altcoins are gaining the same attention and Grayscale accumulates more Cardano as chances of an ADA ETH jumps from 20% to 70%.
Grayscale Accumulates More Cardano
As touched on above, institutional crypto buying has increased significantly this bull cycle and those who began accumulating last cycle have a significant lead. For instance, El Salvador’s President Nayib Bukele made Bitcoin a legal tender last cycle before Bitcoin pumped exponentially in price. The nation then used the profits to give back to Bitcoin by mining Bitcoin with the geothermal powers of its volcanoes.
In addition, El Salvador also made many other moves to encourage Bitcoin adoption among its citizens and went on to use its Bitcoin profits to accomplish much more. Similarly, Michael Saylor’s Strategy went on to heavily accumulate Bitcoin since last cycle showing just as much dedication this bull cycle. The only difference however, is that this bull cycle several other financial giants have joined the race.
The other difference is that these financial giants have begun to adopt more than just Bitcoin. Indeed, these entities have begun to buy altcoins as well including the pioneer altcoin Ethereum (ETH) and legacy altcoins like Ripple’s XRP and Cardano’s ADA. Even Dogecoin (DOGE), the pioneer memecoin asset has also been scooped up by several new players. Most recently, Grayscale is accumulating more Cardano (ADA).
ADA ETF on the Horizon?
https://twitter.com/NALAp20/status/1916487637499801925
As we can see from the post above, Cardano (ADA) is being accumulated by Grayscale to add to the entity’s previous ADA holdings. The post then goes on to say that the chances of an ADA ETF has jumped from 20% to 70% hinting that the possibility of an ADA ETF is much closer than expected. The response to this possibility has been highly bullish from the crypto community.
Since Cardano announced that its upcoming Leios Upgrade would bring Solana-style speed, the blockchain has gotten more attention than ever. What was treated as an obsolete ecosystem is now standing out as the only truly decentralized blockchain and the price of ADA is expected to pump impressively in the coming altseason with a possibility to hit a string of new ATHs soon.
