Grayscale’s ADA ETF Sparks Price Surge

CRYPTO
Grayscale’s ADA ETF Sparks Price Surge

Grayscale’s application for a spot Cardano (ADA) ETF has driven ADA’s price up 11%, outperforming Bitcoin (BTC) and Ethereum (ETH). If approved, the ETF would allow investors to gain exposure to ADA without owning the asset directly.

Despite the price surge to $0.80, ADA remains 36% below its December high of $1.37. Unlike BTC and ETH, which had CME futures as a prerequisite for ETF approval, ADA lacks a futures listing, raising uncertainty about regulatory approval. However, market sentiment remains optimistic.

Analytics firm Santiment notes investors are shifting from meme coins to Layer 1 assets like BTC, ETH, SOL, and ADA, signaling a more stable market environment. Meanwhile, Bitcoin trades between $95,000-$100,000, with analysts citing rising inflation concerns and gold hitting record highs as reasons for its stagnation. Some believe BTC’s fixed supply will strengthen its appeal as a hedge against fiat devaluation in the long term.

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CRYPTO
Trump’s Memecoin Wipes Out $2 Billion

Over 813,000 crypto wallets have collectively lost $2 billion after purchasing Trump’s memecoin ($TRUMP), according to a Chainalysis report commissioned by the New York Times. Meanwhile, the Trump Organization and its partners have gained approximately $100 million in trading fees since the coin’s January 17 launch.

Initially surging to $75 per token with a market cap of $14.75 billion, $TRUMP has since plummeted to $16, wiping out billions in investor funds. Despite warnings that the token was meant as a symbolic purchase rather than an investment, many retail traders sought to profit—though only a few succeeded. One investor turned $1 million into $109 million in two days, while the majority suffered heavy losses.

Concerns over ethics, conflicts of interest, and potential financial manipulation have escalated, with Public Citizen filing a complaint urging the Department of Justice and U.S. Office of Government Ethics to investigate whether Trump improperly benefited from the token’s launch.

TECH
BYD Unveils AI-Powered Driver Assistance

BYD, China’s leading electric vehicle manufacturer, announced the launch of its DiPilot assisted driving system, integrating AI from DeepSeek into its most advanced models. The system includes a low-cost vehicle priced at 69,800 yuan ($9,555), making BYD the first automaker in China to offer such features at this price point, according to Nomura analysts.

Following the announcement, BYD’s stock surged over 4% in Hong Kong trading, reaching a record 345 HKD ($44.24) before paring gains. The stock had already risen 21% last week in anticipation of the event. Founder Wang Chuanfu emphasized that smart driving will become as standard as seatbelts and airbags.

BYD’s move signals a shift from price cuts in 2024 to feature upgrades in 2025, setting it apart in China’s fiercely competitive EV market. Meanwhile, Tesla’s Full-Self Driving software is still awaiting approval in China, with regulatory concerns delaying its rollout. Some analysts warn DeepSeek’s AI integration could pose security challenges for BYD’s expansion into Western markets.

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