Grab hold of whatever you can, crypto family! 🚀 Do you know what it's like to have a date on the calendar that will tell you whether you double your money or just stare at the stars? That's exactly what's happening with Cardano (ADA)!
The big news is that on October 26, the SEC (the one that regulates all the financial mess) has to decide whether to approve the ADA ETF proposed by Grayscale. And if the SEC says "Yes, I accept!", this is not just a piece of paper, it's the key for huge investors (those who have real money) to start pouring everything into Cardano. We're talking about taking ADA to the next level of credibility and into the major leagues of altcoins.
The Drama of $1.30: Dream or Reality? 📈
Just when the tension was at its peak, Cardano gave us a breather, bouncing off the critical support of $0.75. Watch out! That was not a coincidence. It showed that there are people with open checkbooks putting in cash.
Now, the million-dollar question is: Can we reach $1.30 before the SEC speaks?
The Speculative Fuel: The Open Interest (the number of futures contracts and leverage circulating) skyrocketed by 8.04%. This is a sign that the traders are super confident and betting on a volatility explosion. They know that this event is a rocket, although it also means that if things go wrong, liquidations can be a tsunami. High risk, high reward!
The Supply is Closing: The people who have had ADA for a long time (the holders of the long term) are not selling; they are accumulating. The Stock-to-Flow (a scarcity indicator) is rising. When supply decreases and demand remains, the price has nowhere to go but... up! ⬆️
The Trick is Here: The crypto community is buying with the hope of ETF approval, which is called an anticipation rally. But in the financial world, there is a famous saying: "Buy the rumor, sell the news." If the ETF approval is already priced in (if we have already reached $1.30 before October 26), don’t be surprised if when the news comes out (whether good or bad), there’s a wave of selling.
The Impact for Us: If you care about Cardano (or cryptocurrencies in general), this date is vital. An ETF approval not only boosts ADA but also gives a pat on the back to the entire alternative crypto market, opening the door for other coins to follow the same path. It’s a giant step for cryptocurrencies to stop being seen as something "niche" and become serious financial assets.
So, the momentum is strong and people are accumulating at full speed, which gives us a green light for that long-awaited $1.30. But the thing is... are you going to risk holding the position until the final bell, or are you going to secure profits before the SEC strikes and changes the rules of the game in an instant? That’s the dilemma that has us all on edge today.
