Rumors are swirling in the Cardano community that U.S.-based crypto exchange Gemini might list ADA-USD, the 10th-largest cryptocurrency by market cap. These whispers started after Gemini posted about Cardano on their official X account. Adding fuel to the fire, Gemini published an article about Cardano by Frederik Gregaard, CEO of the Cardano Foundation, on its educational platform, Cryptopedia.
According to Cardano staking pool operator St₳kΣ with Pride, Gregaard revealed he was working with top crypto exchanges to potentially list ADA. A few weeks later, Gemini dropped that article, ramping up the chatter that ADA could hit their listings pretty soon.
Market Moves and Community Speculation
Prominent Cardano community members, like St₳kΣ with Pride, have been fanning these rumors. In a recent X post, St₳kΣ with Pride claimed Gemini would list ADA and potentially support other digital assets on the Cardano blockchain, called Cardano Native Tokens (CNTs).
Cardano’s market cap surged by half a billion dollars as ADA’s price turned green following a positive Consumer Price Index (CPI) data release. The jump moved ADA’s market cap from $15.4 billion to $15.91 billion, placing it ahead of Shiba Inu and just behind Dogecoin (DOGE-USD).
Cardano, along with much of the crypto market, got a nice boost on Wednesday following the release of CPI data. After dipping for the past five days, ADA’s price surged by 5.59%, closing at $0.443. The CPI report showed a slightly lower-than-expected inflation rate, prompting traders to speculate on potential interest rate cuts by the Federal Reserve, which in turn drove Cardano’s upward momentum.
Is Cardano a Buy?
According to TipRanks’ Summary of Technical Indicators, Cardano is a Sell.
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