Cardano (ADA) Reclaims Position in Grayscale's Digital Large Cap Fund (GDLC) After 9-Month Absence

Cardano crypto (ADA) is capturing attention once again, emerging as a standout in the crypto space. It has impressed with its technical advancements, strategic partnerships, and an impressive price rally.

Cardano (ADA) price is once again grabbing attention, emerging as a standout in the crypto space with its technical advancements, strategic partnerships, and an impressive price rally. Its latest development marks a significant milestone as Cardano has quietly reclaimed its position in Grayscale’s (NYSE:GRCY) $760 Million Digital Large Cap Fund (GDLC).

After a nearly nine-month absence, Cardano has re-entered the fund as the fifth-largest holding. Grayscale’s GDLC, with a Net Asset Value per share of $47.97, reflects a diverse array of large-cap assets.

As per Grayscale, Cardano now makes up 1.38% of the portfolio. However, the exact timing of its reintegration remains unclear.

Its timing aligns with Cardano price’s explosive rally in the final quarter of 2024 where a surge saw the asset’s price soar by over 300%, climbing from $0.3265 to an impressive $1.3260. This rally might be the reason, as it did not go unnoticed.

Moreover, Whales have been steadily accumulating ADA tokens, signaling confidence among institutional and high-net-worth investors. This accumulation, coupled with bullish sentiment, has sparked speculation of even greater potential for ADA.

Now, analyst Ali brings our attention to a different matter. His post reveals that nearly 10 million tokens were purchased by whales within just 24 hours. This surge in activity is grabbing market watchers’ attention.

Shortly after, Ali posted his prediction for Cardano’s price, pointing to a breakout from a bull pennant pattern. According to his chart, a $3 price target is now within reach for Cardano.

This formation suggests a bullish trend ahead. The formation of a higher low and increasing momentum further supports his outlook, clearly indicating that significant Cardano price movements could be on the horizon.

His setup reflects growing confidence in ADA, as the Cardano crypto inches closer to key resistance levels. If ADA successfully breaks through hurdles and reaches the $3 mark, it could become one of the top performers in the crypto market in the upcoming weeks.

This potential breakout from the pattern underscores the rising industry activity and also the increasing investor optimism around Cardano price future.