ADA has the best institutional signoff with the recent addition in Grayscale’s Large Cap Fund. With little to no ESG concerns, ADA stands apart from the others such as ETH and BTC which have a ways to go to meet some concerns that have been raised.
Would be worth it to take a look at ADA here as you can see there is a repeating pattern of falling that are eventually broken out to the upside. It looks to me that ADA has reached the lows now that there is structural support after Elon’s comments + Amazon exploring opportunities in crypto + the Fed (J Powell), US Treasury (Yellen), CFTC, and Gensler at the SEC not wanting to squash crypto but merely give it guidelines to work by. The CFTC made an interesting comment lately about how crypto seems to provide an interesting technological advancement that they hope to help, not hurt it (see below).
“CFTC Commissioner: Regulators Can Benefit From Blockchain, If Done Right”
In conclusion, the writing is on the wall that regulators are not wanting to squash crypto but do indeed want to make sure it is at least abiding by certain recommended guidelines and ADA imo will be one of the bigger coins that one should pick up here before it does break this pattern as the previous patterns.
Lastly, the World Economic Forum has put 6 cryptocurrencies in a spotlight lens recently. One of those 6 is Cardano (ADA):
Fast forward to 16:35 to see the list here: