Cardano Drops 3.78% Amid Whale Accumulation and ETF Speculation

Cardano's latest price was $0.8907, down 3.78% in the last 24 hours. Cardano has been making strides in reclaiming investor confidence in 2025, with a focus on its methodical development approach. The asset has regained attention due to whale accumulation and renewed speculation around Exchange-Traded Funds (ETFs). Analysts who previously criticized Cardano’s pace are now acknowledging its growing traction in decentralized applications, smart contracts, and governance reforms. These developments, combined with broader crypto market catalysts, are fueling predictions of significant momentum for ADA.

Recent on-chain data reveals a notable surge in large ADA purchases. Whale wallets holding between 10 million and 100 million ADA have increased their holdings steadily over the last two months, indicating a strong conviction that a new upward trend is forming. This accumulation not only provides direct buying pressure but also serves as a signal to retail traders that deep-pocketed investors are positioning early. The psychology of following whales is as powerful as the transactions themselves, often amplifying price momentum as retail flows chase the same direction.

Parallel to whale activity, there is growing speculation around a potential Cardano-focused ETF. While regulators remain cautious, the success of Bitcoin and Ethereum ETFs has opened the door for altcoins with significant market caps. Cardano’s established community and history of development transparency make it a strong candidate for institutional products once approval expands beyond the top two assets. Even rumors of an ETF have historically boosted altcoins, and ADA is no exception. Analysts suggest that a confirmed ETF could serve as a major catalyst, especially if paired with ongoing whale accumulation.

Cardano’s path to significant gains is supported by technical analysis, which points to resistance at key levels. Analysts argue that a breakout above these levels could open the path toward higher targets, with whale accumulation supporting this thesis. Coupled with ETF speculation, Cardano finds itself in a rare moment where fundamentals, technicals, and sentiment are aligned. The challenge lies in maintaining momentum through resistance and avoiding exhaustion once retail flows surge.

Cardano has experienced similar setups in the past. In 2021, ADA surged amid excitement about smart contracts and DeFi integration. While the price later corrected sharply, those who entered early in the cycle still booked substantial gains. Analysts warn that chasing late-stage rallies carries risk, but whale-led accumulation combined with ETF headlines suggests that the current setup could be more sustainable. For patient investors, the lesson remains to position before the crowd and let cycles play out over time.

Market commentators are split on ADA’s ultimate potential. Bulls argue that Cardano’s fundamentals, combined with growing institutional awareness, make higher targets conservative. Bears caution that competition from Ethereum, Solana, and newer layer-1s could cap ADA’s growth. Yet even skeptics acknowledge the significance of whale activity, which historically has preceded major breakouts. For most analysts, the consensus is clear: ADA has reentered the conversation as a top-tier altcoin capable of delivering meaningful upside into the next cycle.

Cardano’s forecast for significant gains rests on a convergence of whale accumulation and ETF momentum, both of which are reshaping sentiment around the token. While risks remain, the alignment of technical, on-chain, and narrative catalysts suggests ADA could finally break free from its long consolidation. Charles Hoskinson, the founder of Cardano and IOG, its development foundation, has excited ADA fans with a post asserting that ADA is set to break the internet. While he did not give any further details, the Cardano community seems to believe this is a bullish sign. This statement comes after Hoskinson’s AMA session last month, where he expressed long-term optimism for Cardano’s prospects, citing the forthcoming Midnight Network — a project aimed at improving data privacy on the blockchain — as a major unlock for activity. At the time, Hoskinson said he expected two potential tailwinds to shape crypto markets in the coming months: an interest rate cut by the US Federal Reserve and the potential passage of the Digital Asset Market Clarity Act.

Cardano, founded in 2015 and launched in 2017 as a competitor to Ethereum, is a proof-of-stake blockchain that relies on network validators to process transactions for ADA, its native currency, and maintain the network. It ranks as one of the biggest cryptocurrencies with a significant market cap. Hoskinson’s post has attracted some scathing remarks from critics, with one user pointing to ADA’s bleak price action in recent years. Despite these criticisms, the community remains optimistic about Cardano’s future prospects.

Recent developments surrounding Cardano have highlighted significant technological and ecosystem advances, driven by ongoing upgrades and growing adoption. The Vasil hard fork, implemented earlier this year, continues to underpin the network's efficiency, introducing diffusion pipelining to enhance scalability and Plutus v2 scripts to reduce smart contract costs. This improvement has contributed to a thriving environment for developers, with over 2,000 active projects now building on the platform.

Cardano's on-chain metrics demonstrate robust activity, as evidenced in the third quarter of 2025. The network recorded approximately 112 million transactions during this period, reflecting steady user engagement and utilization. Additionally, over 142,000 Plutus scripts are currently live, facilitating decentralized applications and services, while more than 10 million native tokens have been issued, showcasing diversity and innovation within the ecosystem. Delegate participation remains strong, with around 1.34 million wallets actively involved in staking and governance.

Market behavior analysis reveals noteworthy shifts in token holdings, particularly among large stakeholders. Data from late September indicates nearly one billion ADA tokens were withdrawn from exchanges, signaling reduced sell pressure and heightened long-term confidence in the network's fundamentals. This trend underscores broader institutional interest, such as Cardano's inclusion in proposals for potential U.S. crypto-related strategic reserves.

Regulatory developments are also shaping Cardano's trajectory, with expectations building around the approval of a dedicated Grayscale-sponsored exchange-traded fund for ADA. This prospect aligns with a broader push toward institutional adoption and could accelerate mainstream integration. The network's proof-of-stake consensus and environmentally conscious infrastructure remain core strengths in these discussions.