ADA loses 12% for the month despite SEC recognition and NASA partnership

Cardano (ADA) has experienced a decline, losing nearly 12% for the month and trading around $0.70. The selling pressure intensified after large holders (whales) sold over 100 million ADA tokens, contributing to market uncertainty.

However, investor sentiment has improved, according to Santiment data, with the ratio of positive to negative comments reaching a four-month high. This improvement was partly driven by the US Securities and Exchange Commission's recognition of ADA as an asset with «smart contracts for government services».

Three key factors are currently influencing ADA's exchange rate. Firstly, on March 2, Donald Trump included ADA in the US strategic crypto reserve. Secondly, the Cardano Foundation confirmed a partnership with NASA for data storage and processing projects. Lastly, institutional capital is expected to flow in through potential ETFs from Canary Capital and Grayscale.

Despite market uncertainty, institutional initiatives and technological advancements could strengthen Cardano's long-term position. This is reported by CryptoPotato.