Cardano Shows Promise Despite Short-Term Price Fluctuation

Cardano (ADA) is holding steady around $0.66, displaying a narrow range after a recent dip from its peak in April. Analysts attribute this stability to increasing DeFi applications and institutional interest, though the coin has temporarily dipped below support levels. Meanwhile, Nasdaq’s application to expand its reference index, including Cardano, is generating optimism for altcoin investors. This move could lead to increased demand if the SEC approves the request, potentially driving up ADA’s price.