ADA Faces Short-Term Dip as SEC Grayscale ETF Decision Spurs Volatility and Trading Surge

Cardano (ADA) is currently trading at $0.7499, down 2.25% over the past 24 hours with a 24h open of $0.7672, and maintains a market capitalization of approximately $17.44 billion, ranking as the 10th largest cryptocurrency. The recent price decline is attributed to short-term volatility ahead of the anticipated SEC decision on the Grayscale Cardano Trust (ADA) ETF scheduled for May 29, 2025, which has heightened market uncertainty and trading activity. Despite this pullback, ADA has shown strong weekly performance, supported by increased institutional withdrawals from exchanges, rising transaction volumes, and ongoing ecosystem development, all contributing to positive longer-term sentiment.