Coinspeaker
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Cardano Gains Visibility as Bitwise ETF Lists on NYSE Arca

Cardano's Visibility Boost:

  • Bitwise uplisted its Bitwise 10 Crypto Index ETF (BITW) to NYSE Arca, enhancing Cardano's visibility.
  • ADA is now part of a regulated Wall Street product, alongside major crypto assets, broadening investor access.
  • Though ADA holds only a 0.65% share in the index, it allows investment through brokerage accounts without direct crypto handling.
  • Bitwise employs strategies like monthly rebalancing and regulatory screenings to maintain robust asset capture.

ADA Price Analysis:

  • ADA's price is at the end of a descending wedge near the $0.30 support level.
  • If bullish, ADA could target $0.70, aligning with a significant resistance zone.
  • A successful break to $1.32-$1.40 could lead to a trend reversal towards $2.
  • A bearish scenario may see ADA return to $0.30, a potential 27% decline.

cardano price prediction

Institutional Influence:

  • Wall Street's involvement through BITW might boost ADA passively as institutional investments grow.
  • The ETF introduces ADA to investors unfamiliar with direct crypto purchases.
  • This passive exposure could set ADA on a path for substantial gains.