Nate Geraci, CEO of The ETF Store, brought on discussions within crypto twitter when he predicted Cardano (ADA) to be the next digital asset to see spot ETF filings. With the surge of interest in crypto ETFs, ADA might soon join the race.
Top 10 crypto assets by market cap…
2 have live ETFs
3 have live ETF filings
Guessing cardano is next pic.twitter.com/XhI8NqUa2B
— Nate Geraci (@NateGeraci) January 23, 2025
Geraci believes ADA is a strong contender for issuers, alongside Avalanche (AVAX). This comes as the market shows growing interest in crypto index funds and spot ETF filings for coins like Solana (SOL) and XRP.
The idea of an ADA ETF is gaining traction. A recent Whale X post highlighted Cardano’s relatively low risk compared to other cryptocurrencies. Its decentralized design, strong community, and consistent performance since its 2017 launch make it stand out.
With 58% of ADA tokens staked and a network boasting 100% uptime since launch, Cardano has earned a reputation for reliability. This appeals to institutional investors seeking stability in a volatile market.
Related: Analyst Bets on ADA & AVAX After SEC’s Ethereum ETF Approval
Market Metrics for Cardano
During the time of writing, ADA was trading at $0.9724, reflecting a 3.20% dip over the last 24 hours. Its market cap sits at $34.19 billion, showing a decline, with trading volume down 35.81% to $988.22 million.
Related: Cardano (ADA) vs. Bitcoin and Ethereum: Could ADA Outperform in the ETF Era?
However, ADA’s metrics reveal a healthy supply distribution. With 35.17 billion ADA in circulation and a total supply capped at 45 billion ADA, Cardano remains well-positioned.
Technical Analysis: What’s Next for ADA?
Despite recent price swings, some analysts are optimistic about Cardano. Crypto analyst Ali believes ADA could hit $1.50 if it breaks through the $1.10 resistance level.
Ali points to a symmetrical triangle pattern that emerged on the 4-hour chart starting January 21, 2025. This pattern suggests a period of consolidation, with the price approaching a breakout.
The pattern indicates a period of consolidation, with the price nearing a breakout point. If the price rises above the triangle, it could target the $1.30-$1.40 range. However, if the price breaks downward, support levels may be tested at around $0.78.
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