Cardano Price Struggles Amid Grayscale ETF Withdrawal

Grayscale has withdrawn its proposed Cardano Trust ETF registration from the U.S. Securities and Exchange Commission, along with related filings for Hedera and Polkadot ETF proposals.

The move comes as Cardano's price struggles to break above $0.20, a critical level it has been unable to surpass despite several attempts.

Cardano's derivatives market also shows signs of declining enthusiasm, with open interest dropping below $700 million from its peak and now standing near $472.13 million.