Cardano Gains 2%, ETF Postponement Has Little Impact

Cardano Gains 2% to $0.87 Amid ETF Delay, Signs of Institutional Interest

Cardano’s ADA token rose 2% to $0.87 in the past 24 hours, keeping pace with broader market recovery. The CoinDesk 20 Index (CD20), which tracks the largest digital assets, gained 2.8% over the same period.

The uptick came as traders considered two major developments: growing optimism for a September Federal Reserve rate cut and the U.S. Securities and Exchange Commission’s (SEC) decision to extend its review of Grayscale’s proposed spot Cardano ETF until late October 2025.

ADA traded in a volatile $0.04 range, between $0.83 and $0.88, according to CoinDesk Analytics. At one point, the token surged from $0.84 to $0.88 on trading volumes more than double the 24-hour average of 39.3 million. Following the spike, ADA stabilized near $0.86, with analysts noting this may indicate institutional accumulation. Key resistance was identified at $0.88, with support around $0.85.

The broader crypto market has experienced choppy trading. Monday saw a pullback as traders booked profits following a weekend rally sparked by Fed Chair Jerome Powell’s dovish Jackson Hole remarks, which raised expectations of rate cuts. By Tuesday, altcoins rebounded as investors treated the dip as a buying opportunity, with lower rates providing favorable conditions for risk assets.

Despite the SEC’s delay on Grayscale’s Cardano ETF, ADA’s resilience suggests traders are focused more on overall market momentum and capital rotation from Bitcoin into altcoins.