Cardano (ADA) Soars 18%—ETF Buzz & Network Upgrades Fuel Bullish Frenzy
Cardano’s ADA rockets upward as Wall Street flirts with crypto—again.
The ETF Effect Strikes Again
Another day, another speculative ETF filing sends a mid-cap altcoin screaming double-digits. This time it’s Cardano’s turn, with ADA surging 18% as TradFi players dip toes into proof-of-stake waters. Cue the institutional FOMO.
Upgrades Over Promises
Network improvements actually delivering? Miracles never cease. Cardano’s recent tech upgrades—not just roadmap vaporware—gave traders an excuse to pile in. Voltaire era governance tools and Hydra scaling solutions are finally moving from whitepaper to working product.
The Cynic’s Corner
Let’s see how long this lasts before the usual ‘sell the news’ brigade crashes the party. After all, nothing makes hedge funds happier than pumping your bags before dumping them back on retail.
Source: CoinMarketCap
For ADA, the rally comes on heavy volume. Trading turnover climbed 66.89% to $3.66 billion, lifting its market cap to $35.34 billion. Liquidity is high, sentiment even higher.
Why is Cardano Price Up?
A big part of the excitement is Grayscale’s latest move. On August 12, the asset manager filed to register a spot Cardano ETF in Delaware. It’s the same playbook the firm used for its Bitcoin product, which drew billions after winning SEC approval in 2024. Traders are already betting on a repeat.
On the ground, Cardano’s own community just voted through a 96 million ADA budget, worth about $71 million, to back key network upgrades. Hydra, a scaling solution, and Ouroboros Leios, a consensus tweak to speed up finality, are both in line for funding. Past upgrades have triggered sharp price gains, and bulls are leaning on that history.
Retail traders are adding their own fuel. Buzz over the “Glacier Drop” airdrop tied to Cardano’s privacy-focused Midnight sidechain has sparked a fresh round of buying.
ADA broke through $0.91 earlier this week and now has $1 squarely in its sights. If it can hold there, some see room to $1.20. If not, expect profit-takers to step in. Either way, Cardano is back in the spotlight, helped by a rare mix of ETF hopes, tech upgrades, and a market running hot.
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