Cardano Climbs 2% to $0.87 Despite ETF Delay, Signals Institutional Interest

Cardano’s ADA token rose 2% to $0.87 over the past 24 hours, reflecting broader gains across crypto markets. The CoinDesk 20 Index (CD20), which tracks the largest digital assets, advanced 2.8% during the same period.

The price movement came as traders weighed two key developments: growing optimism for a September interest rate cut by the Federal Reserve and the U.S. Securities and Exchange Commission’s (SEC) extension of its review of Grayscale’s proposed spot Cardano ETF until late October 2025.

ADA traded in a volatile $0.04 range, swinging between $0.83 and $0.88, according to CoinDesk Analytics. At one point, the token jumped from $0.84 to $0.88 on trading volumes more than double the 24-hour average of 39.3 million. Following the spike, ADA consolidated around $0.86, with analysts pointing to potential institutional accumulation ahead of another rally. Resistance was noted at $0.88 and support near $0.85.

The broader market has seen choppy action. Cryptocurrencies fell Monday as traders took profits following a weekend rally sparked by Fed Chair Jerome Powell’s dovish Jackson Hole remarks, which raised expectations of rate cuts. By Tuesday, altcoins rebounded as investors viewed the pullback as a buying opportunity, with lower interest rates providing a favorable backdrop for crypto compared with traditional yields.

The SEC’s delay of Grayscale’s Cardano ETF was widely anticipated, but ADA’s resilience suggests traders are focusing more on overall market momentum and the rotation of capital from Bitcoin into altcoins.