Cardano founder Charles Hoskinson has praised TRON founder Justin Sun while sharing a more reserved outlook on the stalled CLARITY Act. He also addressed Monad, making it clear that he has no issue with the project.
While ADA flirted with its recent highs, the large wallets quietly exited.
Grayscale has voluntarily withdrawn registration statements for its Cardano, Hedera, and Polkadot Trust products, pausing another set of altcoin ETF ambitions before they reached market.
Wallets holding between 1 million and 10 million ADA fell from 2,370 to 2,340 in nine days as large holders took profits. ADA slipped from above $0.202 to $0.188 while exchange supply increased, the MVRV ratio formed a death cross and TD Sequential flashed a sell signal.
Cardano cleared a key regulatory hurdle: the required track record for highly-regulated Wall Street trading.
Large Cardano (ADA) holders have begun systematically reducing their positions following the market's recent local rally. The millionaires are retreating, and their coordinated exit is now setting off a chain reaction on the charts, pushing the price toward a dangerous threshold.
Cardano fell below $0.19 as Grayscale withdrew its ADA ETF filing, just before CME futures crossed a key six month SEC listing threshold.
Grayscale withdrew its registration for the Cardano Trust ETF on Aug. 7, telling the SEC only that it “does not intend to proceed with the planned distribution.” The move was voluntary and came along with parallel registrations for Hedera and Polkadot, within about three minutes of each other that same afternoon.
Renewed optimism around Cardano's ecosystem has kept traders focused on further upside despite broader crypto market volatility.
Grayscale has ended its current Cardano ETF effort as ADA tests $0.20, but the SEC did not reject the proposed product.
Fundamentally-strong cryptos are staying for the long game, but prices refuse to cooperate with exquisite technical setups.
At least two of the three funds lost their exchange listing proposals in late 2025, and the third has shown no movement at the SEC since September.