TLDR
- Cardano (ADA) is trading around $0.80, stuck in a tight range between $0.75 and $0.85 for several weeks with low trading volume.
- The SEC has directed ETF issuers including Grayscale to withdraw their 19b-4 applications for Cardano ETFs in favor of new Generic Listing Standards that could speed up approval.
- Bloomberg analysts give Cardano ETF approval odds of 100% while Polymarket predicts 95% probability under the new streamlined process.
- A large withdrawal of 67.8 million ADA worth $54.3 million moved from Coinbase to private wallets on September 29.
- The Cardano Foundation released a new roadmap targeting stablecoin funding, DeFi expansion, and improved governance structures.
Cardano price is currently trading at $0.7884 after a modest pullback from the $0.80 level. The cryptocurrency has been consolidating in a tight range for several weeks as traders await clarity on regulatory developments.

The Cardano price has established support between $0.75 and $0.80 over recent trading sessions. Multiple tests of this level have held, indicating buying interest at current prices.
Resistance for Cardano price sits between $0.85 and $0.95. Previous attempts to break above these levels have met with selling pressure.

Trading volume for ADA remains relatively low during this consolidation phase. This could indicate either quiet accumulation or a lack of conviction from buyers.
SEC Changes ETF Approval Process for Cardano
The US Securities and Exchange Commission has requested that several ETF issuers withdraw their pending 19b-4 applications. Grayscale’s Cardano ETF filing is among those affected by this directive.
The SEC has introduced new Generic Listing Standards to replace the individual review process. These standards create a unified framework for evaluating exchange-traded fund applications.
Rather than examining each application separately, the SEC can now assess them under a single set of rules. Industry observers believe this change could accelerate the approval timeline for crypto ETFs.
The original deadline for the Cardano ETF decision was October 26. Under the new Generic Listing Standards, approval could potentially come earlier than initially expected.
Bloomberg analysts have assigned a 100% probability to Cardano ETF approval. Prediction market Polymarket shows a 95% likelihood under the revised regulatory framework.
Large Cardano Withdrawal from Coinbase
On September 29, blockchain tracking service Whale Alert recorded a major Cardano withdrawal from Coinbase. The transaction involved 67,810,471 ADA tokens valued at approximately $54.3 million.
The transfer was divided between two wallet addresses. One address received 67.8 million ADA while the second received 2.2 million ADA.
When large amounts of tokens move from exchanges to private wallets, it reduces the circulating supply available for immediate trading. Some analysts interpret these movements as a sign that holders are opting for self-custody.
These transfers could also indicate portfolio rebalancing or off-exchange settlement activities. Either way, such movements typically reflect underlying investor sentiment about price direction.
Cardano Network Development and Foundation Roadmap
At TOKEN2049 in Singapore, EMURGO Chief Operating Officer Nikhil Joshi highlighted Cardano’s operational track record. The network has maintained eight years of continuous uptime without any service interruptions.
Cardano remains ranked among the top 10 cryptocurrencies by market capitalization. This positioning reflects sustained interest from both retail and institutional participants.
The Cardano Foundation recently published a comprehensive roadmap outlining six primary objectives. These goals include increasing liquidity support for stablecoins and expanding participation in decentralized finance applications.
The foundation also plans to strengthen governance mechanisms across the network. By allocating ADA funds to these initiatives, the organization aims to enhance competitive positioning against established platforms like Ethereum and Tron.
DeFi projects built on Cardano continue to grow while staking improvements roll out regularly. Smart contract adoption is increasing gradually across the ecosystem.
Cardano price now sits at a critical juncture. A sustained move above $0.85 with strong volume could open the path toward $0.95. Conversely, a drop below $0.75 would suggest continued weakness and potential for further downside.