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Key Takeaways:
- The SEC’s GDLC ETF ruling on July 2 may pave the way for a Cardano-specific ETF, with experts placing approval odds near 90%.
- ADA’s largest holders are increasing their positions, suggesting smart money is positioning for a breakout.
- While ADA consolidates, projects like Snorter Bot are bringing high-speed, user-friendly DeFi tools to the Telegram trading crowd.
As Cardano (ADA) trades sideways near $0.55, anticipation is mounting ahead of a major ETF decision that could shift the altcoin’s trajectory. The U.S. SEC is set to decide on the Grayscale Digital Large Cap ETF (GDLC)—which holds ADA, BTC, ETH, XRP, and SOL—by July 2, a decision that could be pivotal for the altcoin ETF narrative.
ADA ETF Approval Odds Soar
Betting markets and top ETF analysts are increasingly bullish on ADA’s ETF prospects. According to Polymarket, there’s an 87% chance that a Cardano ETF will be approved by the end of 2025. Bloomberg’s ETF experts, Eric Balchunas and James Seyffart, went even further, placing the odds at 90%.
Here are mine and @EricBalchunas' most recent odds on spot crypto ETF approvals by the end of 2025. We expect a wave of new ETFs in this second half of 2025. pic.twitter.com/H3pxJhqMy3
— James Seyffart (@JSeyff) June 30, 2025
These developments indicate growing institutional optimism for spot crypto ETFs beyond Bitcoin and Ethereum, with Cardano potentially leading the altcoin charge if regulatory sentiment shifts in its favor.
Whale Accumulation Hints at Quiet Confidence
Despite ADA’s lackluster price action, large holders are showing quiet confidence. On-chain data from Santiment shows that addresses holding over 1 million ADA now control 23.75 billion ADA, up from 23.25 billion in January. In contrast, retail wallets with under 100,000 ADA have reduced their holdings.
This divergence signals smart money accumulation as retail traders cut losses—often a precursor to price rallies. Meanwhile, open interest in ADA derivatives rose 1% to $766 million, suggesting steady speculative interest despite the consolidation.
Technical Outlook: Oversold but Primed?
On the technical front, ADA is clinging to support around $0.54, near the lower Bollinger Band, and the Relative Strength Index (RSI) suggests the token is oversold. Analysts believe a daily close above $0.6560 could trigger bullish momentum, with a potential target above $0.70 if ETF news breaks positively.
Conversely, losing the $0.54 level could expose ADA to a short-term decline toward $0.50. Traders are watching the ETF ruling closely, as it may be the catalyst ADA needs to break its consolidation range.
Also Read: Cardano Struggles Below $0.60 as Volume Spikes 91% — Can ADA Break Resistance?
While Cardano dominates ETF headlines, the crypto trading community is buzzing about Snorter Bot ($SNORT)—a Telegram-based DeFi tool built on the Solana network. Designed for simplicity and speed, Snorter enables direct token swaps, wallet creation, and anti-front-running trading directly within Telegram.
With over $1.3 million raised in presale and a token price of $0.0969, Snorter is targeting both meme coin fans and serious DeFi users. Future integrations with Ethereum, BNB Chain, and other EVM-compatible networks could expand its utility further.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
