Cardano ADA jumps 18% on ETF filing and $71M upgrade funding boost

Cardano’s ADA surged nearly 18% in a 24-hour span, hitting $0.9925 and nearing the $1 psychological threshold for the first time in months. The price action followed a combination of bullish catalysts, including a spot ETF filing by Grayscale and major funding for network upgrades. With trading volume rising 66.89% to $3.66 billion and a market cap of $35.34 billion, ADA has drawn renewed attention from traders and institutional observers [1].

Grayscale submitted an application on August 12 to register a spot Cardano ETF in Delaware, using a strategy similar to its Bitcoin ETF, which gained regulatory approval in 2024 and attracted substantial inflows. The filing has already triggered speculation about potential regulatory greenlights and broader adoption of ADA within traditional financial markets. Although the outcome is uncertain, the mere submission has served as a catalyst for increased liquidity and speculative buying [1].

On the technical side, the Cardano community approved a $71 million (96 million ADA) funding plan to advance key upgrades, including the Hydra scaling solution and the Ouroboros Leios consensus mechanism. These enhancements aim to improve transaction speed, finality, and scalability—factors that could make ADA more attractive to both developers and institutional investors. Past major upgrades have historically coincided with price surges, and current market sentiment appears to be aligning with that pattern [1].

Retail investors have also contributed to the momentum. The “Glacier Drop” airdrop, linked to the privacy-focused Midnight sidechain, generated fresh buying interest. Meanwhile, ADA’s recent breakout above $0.91 has led to speculation about its ability to reach $1 and potentially $1.20, depending on whether it can maintain its current level. However, analysts caution that profit-taking could intervene if the price fails to sustain these gains [1].

The broader crypto market has been supportive of these movements, with Bitcoin hitting $124,000 and Ethereum climbing past $4,764. The total crypto market cap reached $4.19 trillion in the same period, reflecting increased risk appetite and growing confidence in digital assets. The trend is fueled by a surge in crypto-based financial products and the expectation of more spot ETFs gaining regulatory approval [1].

While some price forecasts for ADA stretch into the 2050s, these are based on speculative models and not on tangible developments. Analysts emphasize that current price action should be viewed through the lens of real-time events, such as the ETF filing and infrastructure upgrades, rather than projections [2].

The Cardano ecosystem has also seen early-stage testing of real-world asset (RWA) tokenization, a move that could expand its utility beyond core blockchain functions. Strategic partnerships and use-case development are expected to play a critical role in long-term adoption and institutional trust [3].

As the market continues to evolve, the convergence of regulatory progress, technological innovation, and institutional interest will likely determine ADA’s trajectory. For now, the combination of an ETF filing, major upgrades, and strong short-term price performance has positioned Cardano as a focal point in the crypto narrative.

---

Source:

[1] Cardano (ADA) Jumps 18% as ETF Filing & Upgrades Boost Hopes (https://www.cryptotimes.io/2025/08/14/cardano-ada-jumps-18-as-etf-filing-upgrades-boost-hopes/)

[2] Cardano(ADA)Price prediction (https://www.bitget.com/price/cardano/price-prediction)

[3] KuCoin Teams Up with AlloyX to Test RWA Tokens as ... (https://www.cryptotimes.io/2025/08/13/kucoin-teams-up-with-alloyx-to-test-rwa-tokens-as-collateral/)