ADA's Whale Sell-Off, HYPE's ETF Push, BlockDAG's Presale: Crypto's Volatility vs. Institutional Optimism

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Saturday, Sep 20, 2025 7:18 pm ET1min read
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- ADA faces $480M whale sell-off but gains ETF traction via Grayscale's Crypto 5 inclusion, first U.S. multi-crypto ETF featuring the token.

- HYPE advances with VanEck's planned U.S. staking ETF and European ETP, leveraging Hyperliquid's blockchain dominance in decentralized trading.

- BlockDAG's $0.0013 presale nears final lock, raising $410M with 26.3B tokens sold, while delayed launches and price adjustments raise credibility concerns.

- Market dynamics highlight crypto's volatility vs. institutional optimism through ADA's regulatory exposure, HYPE's ETF momentum, and BlockDAG's liquidity expansion plans.

ADA Sees Whale Sell-Off Amid ETF Inclusion, HYPE ETF Filing Progresses, and BlockDAG Presale Nears Final Price Lock

Cardano’s (ADA) price has faced downward pressure following a massive whale sell-off of 530 million tokens in two days, equivalent to $480 million at current valuations [8]. Despite this, ADA’s inclusion in Grayscale’s Crypto 5 ETF, which began trading on NYSE Arca, marks a significant milestone as the first U.S. multi-crypto ETF to feature the token [8]. Analysts note that

ADA
has held key support near $0.8775, though further weakness below $0.80 could trigger a deeper correction [8]. Meanwhile, institutional interest remains mixed, with over 90% odds on Polymarket for a dedicated ADA ETF approval in 2025 [8].

Hyperliquid’s (HYPE) institutional ascent continues as VanEck, a $100 billion asset manager, confirmed plans to file a U.S. spot staking ETF and a European ETP tied to the token [5]. The proposed ETF would blend price exposure with staking rewards, aligning with Hyperliquid’s growing dominance in decentralized trading, where its blockchain has topped revenue rankings for four consecutive weeks [7]. VanEck also hinted at allocating profits to HYPE buybacks, mirroring its support for

Bitcoin
and
Ethereum
ETFs [6]. In Europe, 21Shares already launched a Hyperliquid ETP in August, signaling regulatory momentum [7].

BlockDAG’s presale has captured market attention as its $0.0013 price lock nears expiration on October 1, 2025 [4]. The project has raised $410 million to date, with 26.3 billion tokens sold and 312,000 global holders [1]. The presale’s final phase offers a 2,900% return potential against the $0.03 batch price, with the token’s listing pegged at $0.05 [4]. Over 20,000 miners have been distributed globally, and the project announced a testnet launch on September 25 [1]. Exchange partnerships with MEXC, LBank, and others are set to expand liquidity, while analysts project a post-launch target of $0.50–$1.00 within 12–18 months [2].

Critics highlight risks for BlockDAG, including delayed launch dates and dynamic price adjustments that eroded early investor trust [3]. The project’s roadmap includes a Token2049 Singapore 2025 launch and EIP-4337 compatibility, but credibility concerns persist due to unmet timelines [3]. For ADA, while short-term bearish momentum continues, long-term bulls argue that a 432% rally to $5 or higher remains plausible, driven by Cardano’s infrastructure upgrades and ETF-driven demand [8].

The crypto market’s focus remains split between immediate volatility from whale activity and institutional adoption signals. BlockDAG’s presale urgency, HYPE’s ETF prospects, and ADA’s regulatory exposure collectively underscore the sector’s dynamic interplay of speculation and infrastructure-driven growth.