While Bitcoin and numerous other altcoin players undergo a period of volatility, Cardano emerges as an unpredicted winner after recording 10% gains in the second week of February. Elsewhere, this viral DeFi platform is attracting large inflows from Cardano wallets drawn to its massive growth potential.
Cardano Price Rises After Rumours of Role in US Treasury Administration
As the new lead of the Department Of Government Efficiency (D.O.G.E.), Elon Musk expressed his intent to integrate blockchain to support its mission to make government spending more efficient and transparent. Since his announcement, many people have been actively debating which protocol is most likely to be adopted by the department.
Reports are circulating that Cardano’s Charles Hoskinson is in talks with Elon Musk about the use of Cardano’s blockchain technology for the administration of the US Treasury. There is no official confirmation, but if this becomes a reality, it could have a major impact on the ADA price.
Cardano is known for its security and scalability, which makes it suitable for large-scale financial applications. A collaboration with Musk could increase confidence in ADA and push the Cardano price even higher.
Cardano Price Enjoys Uptick Following Grayscale ETF Announcement
Grayscale recently filed for the listing of a Cardano exchange-traded fund on the New York Stock Exchange. On Monday, NYSE Arca, a subsidiary of NYSE, submitted the 19b-4 form to the SEC to obtain approval for the Grayscale Cardano Trust Fund, which will trade under the ticker GADA.
This news comes at a time when Grayscale is going beyond Bitcoin and Ethereum ETFs, with recent applications for Solana, XRP, and Dogecoin ETFs also in the pipeline.
If the Cardano ETF gets approved, this could lead to significant inflows of new capital, which could boost the ADA price, which was already reflected due to the price movements in the past few days. Following the recent ETF news, Cardano (ADA) has seen a strong uptick, soaring 14% over the past two days to $0.82 before correcting to $0.79.Â
DTX Exchange Secures $14 Million ADA Investment From Enthusiastic Traders
DTX Exchange offers the first unified interface for trading 120,000+ assets, including cryptos, stocks, forex, and ETFs. This saves users from the hassles of switching between multiple apps for asset management. The platform is comprehensively audited by security firm SolidProof, guaranteeing the safety of client assets.
It is not surprising that DTX is witnessing a massive increase in demand from innovation-driven ADA whales. DTX Exchange is the first retail trading option that offers no-KYC trading with up to 1000x leverage. This means that a modest $100 investment can turn into $100,000 in liquidity when you trade with DTX.
DTX is currently the fastest-selling altcoin at this moment. The DTX token is selling out fast at the low entry of $0.16 as traders anticipate a CEX listing in December. Given the momentum of DTX Exchange, a listing on tier-1 exchanges such as Binance or Bybit could lead to a price surge above $1. This will mark at least 11,500% gains for early-bird investors and at least % gains for investors who join from this moment.
Conclusion
As the SEC finalizes its review of several crypto ETF applications, many cryptos, including Cardano, Bitcoin, and Ethereum, could be set for massive gains. At the same time, many Cardano holders are paying attention to the DTX Exchange for its dynamic features and attractive entry price.Â
However, given the current demand levels, the DTX supply could run out quickly. So, if you’re keen to capitalize on this presale, make sure you check out the DTX platform.
To know more about the DTX Exchange ecosystem, Check out:Â
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