ADA Slides 2.09% Amid SEC ETF Delay, But Institutional Interest and Network Growth Signal Long-Term Strength

Cardano (ADA) is currently trading at $0.6739 on Binance, reflecting a 2.09% decrease over the past 24 hours from a 24h open of $0.6883. The recent price decline is primarily attributed to broad market profit-taking, with ADA and Dogecoin leading the downturn among major cryptocurrencies, despite relative stability in Bitcoin and resilience in Tron. Additional short-term bearish pressure has been influenced by the extension of the SEC review period for the Grayscale ADA ETF, delaying a potential positive catalyst. However, institutional interest remains strong, highlighted by recent meetings between Cardano Foundation and Franklin Templeton leadership, and ADA’s inclusion in high-profile crypto reserve announcements. Despite technical resistance and subdued DeFi adoption, analysts maintain a positive long-term outlook for ADA, supported by ongoing network development and rising institutional credibility. ADA currently ranks 10th by market capitalization, with a circulating supply of approximately 35.68 billion and a market cap near $17.44 billion.