ADA Looks Primed for an 18,750x Increase Based on Historical Data with Cardano Eying an ETF

With Cardano (ADA) being a proof-of-stake (PoS) blockchain platform meant to trigger positive global change across visionaries, innovators, and changemakers, the 10th-largest cryptocurrency continues to attract notable attention.

As a result, renowned market analyst Ali Martinez recently acknowledged that, based on historical data, Cardano was eyeing an 18,750x increase in price level from the current one of $0.59. 

Martinez pointed out, “If historical data is any guide, Cardano could be at the very beginning of a monster parabolic rally.”

Crypto analyst Nala echoed these sentiments and stipulated that history was repeating itself, and ADA was getting ready to explode soon.

Will a Cardano ETF See the Light of Day?

Since leading asset management firm Grayscale recently filed for a Cardano exchange-traded fund (ETF) with the New York Stock Exchange, fingers remain crossed on whether it will get the green light.

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This is because ETFs play an instrumental role in enhancing institutional investments, which is bullish for an asset’s overall adoption.

Therefore, Grayscale’s decision to have a Cardano ETF in place illustrates ADA’s growing institutional interest.

Furthermore, ADA’s open interest has been on an upward trajectory after hitting $850 million, representing an 18.9% increase, according to Coinglass data.

Meanwhile, Cardano recently received a major boost through an innovative and strategic partnership with Walmart meant to roll out a crypto cashback program featuring ADA.