Cardano Stands Firm at $0.2 Despite Grayscale ETF Withdrawal

Cardano's price has held steady at around $0.2 despite recent news that Grayscale had withdrawn its registration application for a Cardano ETF.

The withdrawal of the S-1 registration statement was announced on August 7, before Cardano reached its six-month milestone in regulated CME futures trading, which is a critical requirement under the SEC's Generic Listing Standards.

Grayscale filed three Form RW submissions on August 7, withdrawing the registration statements for the Grayscale Cardano Trust ETF, along with two other ETFs.

The current price of ADA has seen some fluctuations, down 0.5% in the last 24 hours to $0.195, but experts predict a potential return to $0.211 and further target $0.232 (daily 200 SMA) if the recovery sustains.