Gemini’s Rumored ADA Listing and Trump’s Crypto Reserve News: Potential Catalysts for Cardano’s Price Movement
Cardano (ADA) is currently under market attention due to speculations that Gemini, a major US-based crypto exchange, might list ADA soon. This potential listing, hinted by Gemini’s co-founder Tyler Winklevoss, could enhance ADA’s liquidity and price recovery. Previously, ADA’s price experienced a decline, trading around $0.73, after an initial increase following former President Donald Trump’s mention of ADA in the context of a strategic crypto reserve. However, ADA was excluded from the final order, focusing only on Bitcoin, which contributed to a ’sell the news’ reaction. Traders are closely monitoring March 13 for possible announcements from Gemini. If confirmed, this could attract new liquidity and act as a catalyst for ADA’s price rebound. Many experts view the recent price drop as temporary, suggesting that ADA’s market position remains strong, which is evidenced by potential developments like Grayscale’s interest in launching a spot ADA ETF and ongoing adoption by exchanges like Binance and Coinbase.
Bullish
The news suggests a potentially bullish outlook for ADA, given the speculated Gemini listing that could increase liquidity and demand substantially. While the recent price decline was influenced by Trump’s executive order excluding ADA, the crypto still holds a strong market position. Likewise, the interest shown by major entities such as Grayscale to launch a spot ADA ETF, coupled with sustained adoption by major exchanges, boosts investor confidence. Historically, listings on significant exchanges have led to positive price effects, likely repeating here if the Gemini listing occurs.