Cardano's Price Struggle Continues Amid Grayscale ETF Withdrawal

Cardano's (ADA) price has been struggling to break above $0.20, and recent news may have made it even harder for the cryptocurrency to reach that milestone.

The Grayscale Trust withdrew its proposed Cardano Trust ETF registration with the U.S. Securities and Exchange Commission (SEC), removing a near-term catalyst from the market.

This move comes as derivatives metrics show open interest falling to $472.13 million, signaling weaker leveraged participation in ADA. Spot market flows also indicate limited conviction among traders, with only a modest net inflow of $834,170.