There's no denying that Cardano (CRYPTO: ADA) has been a crypto market laggard through the first half of 2024. Of all the cryptocurrencies ranked in the top 10 by market cap, Cardano is the only one that is currently in the red. Year to date, Cardano is now down 34%.

But there are three reasons to think that Cardano might actually turn things around in the second half of the year. Let's take a closer look.

First and most importantly, Cardano seems to be off the hook with the Securities and Exchange Commission (SEC). Ever since the SEC brought lawsuits against Coinbase Global (NASDAQ: COIN) and Binance (CRYPTO: BNB) in June 2023, there has been much speculation that the SEC was aiming to classify Cardano as a security.

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Source Fool.com