Grayscale Boosts Cardano Allocation Amid Market Volatility

Grayscale Investments has made significant changes to its crypto portfolio, increasing its allocation to Cardano (ADA) to around 20.2%. This adjustment makes Cardano the third-largest holding in Grayscale's diversified holdings, behind Solana and Ethereum.

The move comes as the broader crypto market faces macro-driven volatility, with Bitcoin recently dropping below $65,000 following new tariff measures announced by Donald Trump. Despite this turbulence, Grayscale appears to be confident in Cardano's long-term fundamentals.

From a technical perspective, ADA is trading near $0.257, with resistance at $0.30-$0.31 and key support at $0.24. Momentum indicators remain in bearish territory, suggesting that sellers retain control of the market in the short term.