- Crypto asset analyst Dan Gambardello believes ADA is poised to rise.
- Gambardello expressed a bullish outlook for ADA and AVAX.
- Gambardello stated that ADA and AVAX could possibly be one of the best performing altcoins this cycle.
Dan Gambardello, founding father of CryptoCapitalVenture and main market analyst, highlighted Cardano (ADA) as a possible beneficiary following the U.S. Securities and Alternate Fee's (SEC) current approval of a spot Ethereum exchange-traded fund (ETF).
In an X-video, Gambardello quoted Coinbase Chief Authorized Officer Paul Grewal as saying that Ethereum is at present labeled as a commodity. Gambardello argued that this classification may be utilized to Cardano, stating:
“I believe ADA has its personal story by way of the ETF being decentralized and being structured that method. AVAX has its personal story, that means the president of Ava Labs is preventing for the AVAX ETF.”
Gambardello expressed the view that each Cardano and AVAX are “properly positioned to be high performers amongst blue chip altcoins.” He predicted that ADA will “make a sudden transfer” at the same time as it’s at present testing holders’ endurance.
Moreover, Gambardello emphasised that the approval of the ETH ETF is a optimistic improvement for holders of all altcoins, together with Solana (SOL) and Cardano (ADA). He concluded that the “anti-crypto forces” are dropping steam.
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