{"id":57942,"date":"2025-04-09T12:18:13","date_gmt":"2025-04-09T12:18:13","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=57942"},"modified":"2025-04-09T12:18:13","modified_gmt":"2025-04-09T12:18:13","slug":"cardano-news-today-april-9th","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=57942","title":{"rendered":"Cardano News Today: April 9th"},"content":{"rendered":"

Cardano witnessed some <\/span>important<\/span> developments in the last few days, while its native token experienced a substantial pullback. <\/span>We<\/span> will explore these topics further <\/span>in the following lines<\/span>.<\/span><\/p>\n

Grayscale shows further support for <\/span>Cardano<\/span><\/h2>\n

Earlier this year, the leading digital asset manager<\/span>, Grayscale,<\/span> added<\/span><\/a> Cardano (ADA) to its Smart Contract Fund. The investment vehicle provides accredited investors indirect exposure to a diversified portfolio of cryptocurrencies associated with smart contract platforms.<\/span>\u00a0<\/span><\/p>\n

The entity recently <\/span>rebalanced<\/span><\/a> the fund, solidifying Cardano as its third-largest holding at 22.91%. Ether (ETH) and Solana (SOL) are at the first two spots, with a respective share of 30.92% and 29.05%.<\/span><\/p>\n

On the other hand, Cardano is ahead of Avalanche (AVAX), Sui (SUI), and Polkadot (DOT), whose combined weight is around 17%.<\/span><\/p>\n

Partnership<\/span> with Ripple on the way?<\/span><\/h2>\n

Ripple\u2019s post on X, uploaded at the start of the week, <\/span>stirred<\/span><\/a> excitement among the community that a collaboration with Cardano might be incoming. <\/span><\/p>\n

The speculation comes from the fact that the video starts with a brief representation of Cardano\u2019s logo<\/span>, while<\/span> later, the topic moves to tokenization and its possible progress in the following years.<\/span><\/p>\n

This<\/span> isn\u2019t the first time rumors of a deal between the two have surfaced. Not long ago, Cardano\u2019s founder, Charles Hoskinson, <\/span>suggested<\/span><\/a> that the entity might incorporate Ripple\u2019s stablecoin, RLUSD, into its ecosystem. <\/span>Prior to<\/span> that, he and Ripple\u2019s CEO Brad Garlinghouse <\/span>shared<\/span><\/a> positive remarks about each other.<\/span><\/p>\n

Meanwhile, Hoskinson recently <\/span>hinted<\/span><\/a> about an upcoming collaboration between Cardano and Bitcoin, teasing a demo integration that could take place next month.<\/span><\/p>\n

ADA price outlook<\/span><\/h2>\n

As mentioned above, the price of Cardano\u2019s native cryptocurrency has witnessed a solid retreat lately. Currently, it trades at approximately $0.56 (per CoinGecko\u2019s data), representing a 16% weekly decline.
\n<\/span><\/p>\n

<\/a>ADA Price, Source: CoinGecko<\/p>\n

The X user Bitcoin Wukong recently <\/span>claimed<\/span><\/a> that despite the bearish environment, $0.58 and $0.45 remain \u201cstrong support levels on a larger timeframe.\u201d\u00a0<\/span><\/p>\n

\u201cI\u2019ll <\/span>be buying and holding<\/span> at these levels\u2014patience is key. Let\u2019s see how it plays out,\u201d they added.<\/span><\/p>\n

ETF approval odds head south<\/span><\/h2>\n

An important<\/span> development that could act as a price catalyst for the asset is the approval of a spot ADA exchange-traded fund (ETF) in the USA. Earlier this year, Grayscale <\/span>filed<\/span><\/a> with the New York Stock Exchange (NYSE) to launch such a product.\u00a0<\/span><\/p>\n

The fund will allow investors to gain direct exposure to ADA without the complexities of owning and managing the cryptocurrency themselves. Of course, it must first receive the necessary green light from the relevant regulators.\u00a0<\/span><\/p>\n

Last month, the approval odds before the end of 2025 spiked to 70%. <\/span>In the past few weeks<\/span>, though<\/span>, the optimism started to vaporize, and as of now, the chances <\/span>stand<\/span><\/a> at around 52% (according to Polymarket).<\/span>\u00a0<\/span><\/p>\n

The post Cardano News Today: April 9th<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Cardano witnessed some important developments in the last few days, while its native token experienced a substantial pullback. We will explore these topics further in the following lines. Grayscale shows further support for Cardano Earlier this year, the leading digital asset manager, Grayscale, added Cardano (ADA) to its Smart Contract Fund. The investment vehicle provides […]<\/p>\n","protected":false},"author":0,"featured_media":57943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-57942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57942"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57942"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57942\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/57943"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}