Cardano Price Rises 0.381% as ETF Approval Odds Surge to 64%

Cardano's latest price was $0.7457, up 0.381% in the last 24 hours. The probability of a spot Cardano (ADA) exchange-traded fund (ETF) being approved has surged, with market-implied odds for a 2025 approval rising to 64%. This increase in optimism comes as the Securities and Exchange Commission (SEC) approaches a key deadline on May 29 to approve, deny, or extend its decision on Grayscale’s proposed Cardano ETF. The SEC acknowledged NYSE Arca’s proposal to list and trade the Grayscale Cardano Trust shares on February 24, formally starting the regulatory review process and triggering a standard 45-day extension.

Currently, 72 crypto-related ETF applications are pending with the SEC, with only two being Cardano-specific: the Grayscale Cardano Trust and the Tuttle Capital 2X Cardano ETF. If approved, these ETFs would mark a significant milestone for ADA, potentially boosting institutional adoption and lending greater legitimacy to the asset. The momentum surrounding the ADA ETF continues to build, despite controversy involving founder Charles Hoskinson. On May 7, NFT artist Masato Alexander accused Hoskinson of misusing access during the 2021 Allegra hard fork to transfer 318 million ADA from unclaimed 2017 ICO tokens, with only $7 million allegedly reaching the governance group Intersect. Hoskinson has denied the allegations, calling them false and affirming that over 99.8% of ICO tokens were redeemed correctly.

Cardano is also making its way back into the talks of the crypto market, with developments such as the Midnight sidechain and the Glacier airdrop fueling the buzz. These developments have come at a time when on-chain data and patterns suggest ADA may be gearing up for an uptrend. Speculative interest in Cardano is building following Solana ETF filing developments, and traders are eyeing a 2023 Solana-esque move. Speculators have newfound confidence in ADA ETF approval before the end of 2025—a major catalyst driving bullish end-of-year Cardano price predictions. However, many investors are hesitant to buy the rumor just yet, as recent bullish Solana price action has been snubbed due to SOL ETF filings facing delays, casting a shadow over Cardano’s own prospects.

The wider market remains in cautious optimism, with better-than-expected April inflation data lifting sentiment. However, Fed Chair Jerome Powell’s reluctance on rate cuts has tempered risk appetite. Cardano’s correction period should be nearing its end, with the RSI cooling to a neutral 48 after a stint above the oversold threshold—a sign that selling pressure is easing. That said, the MACD line continues to widen its gap below the signal line following a recent death cross, pointing to continued short-term weakness. A retest of past support at $0.685 in line with the 0.5 Fib retracement level—a common reversal zone—could mark a correction bottom if bulls fail to defend the current level. And if momentum returns alongside broader adoption and ecosystem growth, ADA’s long-term trajectory could still point toward significant milestones.

Cardano’s ecosystem continues to make strategic strides. Founder Charles Hoskinson has been vocal about the need for regulatory clarity in the U.S., recently showing his support behind the proposed stablecoin bill. He’s also championing Cardano’s expanding role in cross-chain decentralized finance (DeFi), with upcoming integrations planned for XRP and Bitcoin-based protocols. Those who jumped to Cardano over alternative Layer-1s may be forced to reconsider as the Solana ecosystem finally addresses its biggest limitation: scalability. The narrative has shifted with the arrival of Solaxy ($SOLX), Solana’s first-ever Layer-2 scaling solution. By processing transactions off-chain and finalizing them on Solana, Solaxy significantly reduces congestion and lowers transaction costs, while offering seamless interoperability across both blockchains. With over $38 million raised in its ongoing presale, investors are already rallying behind the project. When demand for Solana increases, it could be the one to reap the fresh ecosystem liquidity.

Recent reports on Cardano highlight the significant activity surrounding its tokens this year. Nearly $1 billion worth of Cardano ADA has been withdrawn from centralized exchanges since the beginning of 2025, indicating substantial outflows. This movement of assets has mirrored patterns seen during previous market rallies, suggesting a reduced selling pressure as supply moves away from exchanges. The withdrawal of approximately one billion ADA tokens from exchanges aligns with historical trends observed during bullish periods for Cardano. This parallels the 2021 bull run where such outflows were precursors to significant price activity. Although the focus remains away from price speculation, the reduced immediate selling pressure could bode well for Cardano's near-term market dynamics.

A notable development is the heightened interest from large Cardano holders, or "whales," who have recently acquired over 80 million ADA within a short span. This influx suggests that these investors perceive current market prices as strategically viable for medium-term holdings, possibly anticipating an upward trajectory as market conditions evolve. Adding to Cardano's momentum, founder Charles Hoskinson has confirmed efforts to establish a DeFi partnership with Litecoin. This collaboration could potentially integrate Litecoin into Cardano’s ecosystem via Midnight, Cardano's privacy and identity protocol. If successful, it would pave the way for cross-chain DeFi activities and broaden Cardano’s utility and appeal within the cryptocurrency space.

Additionally, Cardano has announced participation in the upcoming GITEX Europe 2025 conference in Berlin, a platform for discussing advances in digital identity and data transparency. This involvement underscores Cardano's ongoing commitment to advancing its technology and increasing its footprint in key technological discussions and events. Cardano's financial stability has come under scrutiny following an audit that revealed a concerning $600 million discrepancy in its treasury. With only $7 million reportedly accounted for, these findings have stirred significant concern within the community and the broader cryptocurrency market, prompting discussions about potential implications for the project's financial management and future developments.