The odds of Cardano's ETF approval have decreased, leading to a focus on potential DeFi growth, while short-term targets like a $5 price seem unlikely.
Declining ETF Approval Odds
Recent changes in the forecasts for Cardano's ETF approval have influenced public perception. Attention shifting to DeFi may support ADA prices, yet achieving a price target of $5 seems improbable in the current conditions.
Successes in DeFi
Despite the decline in ETF approval odds, the Cardano community is focusing on DeFi development. Data shows that the growth in Total Value Locked (TVL) within the Cardano ecosystem continues to reflect positive trends.
Technological Progress and Cardano's Future
Cardano founder Charles Hoskinson emphasizes the importance of technological advancement, focusing efforts on network upgrades to enhance scalability and interoperability. The company's long-term strategic goals are centered on technology improvements rather than speculation.
Despite the current decline in ETF approval chances, Cardano continues to develop confidently in the DeFi space and is focused on technological progress, which could serve as a foundation for the platform's future growth.
