Cardano's Grayscale Catalyst Removed as ADA Struggles Below $0.20

Grayscale has withdrawn its proposed Cardano ETF filing from the U.S. Securities and Exchange Commission.

This decision removes a potential near-term catalyst for ADA, which is currently struggling to break above the $0.20 level.

Falling open interest signals weaker leveraged participation in ADA, with a current figure of $472.13 million.

Spot market flows also show limited conviction among traders, despite a modest net inflow of $834,170.