Cardano Bounces Back from Grayscale Withdrawal

Cardano's price has stabilized around $0.2 after an initial decline over the weekend, following Grayscale's withdrawal of its registration application for a Cardano ETF.

The news came on August 7, when Grayscale filed Form RW submissions withdrawing the S-1 registration statements for the Grayscale Cardano Trust ETF and two other funds.

This development may impact Cardano's ETF eligibility milestone, which it achieved on August 9 by completing six months of regulated CME futures trading.