Grayscale bullish on Cardano’s native token ADA.
ADA now makes up 18.5% of Grayscale’s smart contract platform.
Analysts expect strong ADA price pumps in the coming altseason peak phase.
Cardano (ADA) remains one of the most bullish altcoins this bull cycle, mostly due to the incredible growth accomplished by the Cardano ecosystem since the last bull cycle and with the upcoming Midnight sidechain-related announcements, but also because Grayscale bullish on Cardano. In detail, ADA now makes up 18.5 % of Grayscale’s smart contract platform, ranking third behind ETH and SOL.
Grayscale Bullish on Cardano
Cardano and its native token ADA have gained a lot of attention this bull cycle. This is because the Cardano ecosystem has achieved the title of the best blockchain in the crypto and blockchain spheres at the moment. Since the last bull cycle, the Cardano blockchain has launched many bullish upgrades, which make it the most secure, speedy, and capable blockchain and the only truly decentralized ecosystem.
With all this success around the Cardano ecosystem, and the fact that the ADA price chart has been showing extremely bullish signs for months, possibly years, analysts expect a bullish price surge for ADA in the peak altseason phase. Another reason behind the high expectations for an ADA price pump is the launch of the Midnight sidechain and its native tokens, which are expected to bring more attention to ADA.
https://twitter.com/coinbureau/status/1942682603842330871
Grayscale has been steadily accumulating six specific altcoins, as we can see from the post above. These tokens include ETH, SOL, ADA, SUI, AVAX, and HBAR, respectively. These funds together make up the Graysclae Smart Contract Platform, and Cardano (ADA) accounts for 18.5% of the Graysclae Smart Contract Platform, ranking just behind Etehreum (ETH) and Solana (SOL).
Responses to the post show that ADA’s narrative is heating up with Grayscale’s ETF exposure and exchange outflows sparking major long-term accumulation. Social buzz is fueled by Voltaire governance, DeFi growth, and ETF anticipation, although some traders eye the upcoming airdrop and overbought CRSI with caution. Most traders and altcoin enthusiasts commend ADA and hope to see a parabolic rise in ADA price soon.
https://twitter.com/angrycryptoshow/status/1941891964519030897
One response says that ADA is sitting at a technical pivot and to watch the $0.5925–$0.6200 resistance and $0.5650 support, for the next move coils determine a decisive set up for the next trend leg. All in all, Grayscale's move to boost Cardano to 18.5% of their Smart Contract Platform Fund is a testament to ADA's growing influence in the crypto space. It's third behind ETH and SOL, showing institutional faith in decentralized platforms that prioritize innovation over dogma.
