The $1.6 trillion asset manager Franklin Templeton is now actively running Cardano nodes, confirmed by both the firm and Cardano Foundation CEO Frederik Gregaard.
Analyst Dan Gambardello, discussing the news in a video, called the move “massive“; adding:
“Franklin Templeton is just casually securing the Cardano network. It’s hard to be bearish when the big players are already playing the long game.”
The broader implication is clear: institutions are beginning to explore altcoins beyond Bitcoin, and Cardano is being increasingly seen as a serious network for future decentralized finance (DeFi) innovation.
NBX Taps Cardano for Europe’s First MiCA-Compliant Stablecoin (USDM)
Meanwhile, Norwegian Block Exchange (NBX) has made headlines by becoming the first publicly traded Norwegian company to hold Bitcoin on its balance sheet. The company recently acquired 6.0 BTC worth approximately $663,700, with plans to increase that to 10.0 BTC by the end of June.
The acquired Bitcoin will serve as collateral for a new stablecoin, USDM, set to launch on the Cardano blockchain.
The stablecoin will be Europe’s only MiCA-compliant token on Cardano, marking a significant regulatory milestone. NBX clarified that the Bitcoin will not be sold or shorted, underscoring its long-term commitment to both BTC and Cardano.
NBX also aims to generate returns through Bitcoin-backed loans and yield farming via the Cardano and USDM ecosystem, hinting at a growing suite of institutional-grade products on Cardano.
Related: Cardano Whale: ADA’s Long-Term Strength Rests on Organic Demand, Not Hype
Analyst Eyes Cardano (ADA) “Boring Phase” as Breakout Setup
From a technical standpoint, Cardano is currently in a consolidation phase, trading in the $0.64 to $0.66 range. Gambardello noted similarities to October 2024, when ADA was also trading sideways before a 300% breakout.
Source: Dan Gambardello
He warned of potential short-term downside–possibly retesting levels around $0.58 to $0.64–but maintained that the long-term setup is more bullish than ever, especially as monetary policy begins to shift and crypto narratives continue to strengthen.
Interestingly, Gambardello used Ethereum’s price structure as a proxy for understanding altcoin sentiment, including Cardano. Ethereum, too, is testing crucial support levels and trading within a multi-year triangle pattern, indicating that altcoins could be near a decision point.
Related: Hoskinson Challenges Critics to Present “Credible Evidence” Amid Cardano Controversy
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