Cryptocurrency analyst Dan Gambardello discusses potential integration of Cardano with Bitcoin through treasury proposals and ETF developments.
ETF Approval Odds for Cardano
Dan Gambardello indicates that the odds of ETF approval for Cardano increased from 41% on June 8 to 70% today, with recent highs of 78%. Bloomberg provides 90% approval odds for ADA ETF in 2025, alongside other leading cryptocurrencies like Dogecoin, Polkadot, and Avalanche.
Several altcoins are working on spot ETF filings with positive approval odds this year. Litecoin, Solana, and XRP have 95% approval probabilities, while Doge, ADA, DOT, and AVAX have 90% probabilities for 2025. Most approvals are expected to emerge between Q3 and Q4 of 2025, introducing institutional flows and new investor access.
Treasury Proposal for Bitcoin Integration
Gambardello presents a treasury proposal for Cardano to exchange around $100 million of ADA into Bitcoin and stablecoins for yield generation. The plan is to invest money equally between Cardano-native stablecoins and Bitcoin, using generated yields to buy more ADA and donate it to the treasury.
Andrew from Bitcoin OS supports utilizing treasury funds to steer initiatives that bring Bitcoin and stablecoin liquidity to the Cardano chain. The strategy aims to attract Bitcoin holders for DeFi yield opportunities in safer environments.
Bullish Outlook for Cardano Amid Market Consolidation
Gambardello maintains his bullish stance for Cardano despite ongoing market consolidation, asserting that all altcoins are facing the same bearish pressure, not just ADA. The analyst speaks of a January prediction where the total crypto market cap, excluding Bitcoin and Ethereum, experienced prolonged drawdown periods.
Key technical indicators show the 20-week moving average approaching the 50-week moving average on the ADA weekly chart. Historical data indicates that this cross was 56 days before previous lows and saw 84 days of sideways activity after the cross.
Dan Gambardello emphasizes the importance of institutional initiatives in improving Cardano's market position, predicting positive changes for ADA in the future.
