Cardano Price Surges 0.753% Amid ETF Approval Optimism

Cardano's latest price was $0.7471, up 0.753% 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. Polymarket bettors are now pricing in approval odds at 64%, up from 45% just three days ago. 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.

Cardano has been garnering substantial attention following recent significant developments in the crypto space. Specifically, nearly one billion dollars worth of Cardano's ADA tokens have been withdrawn from centralized exchanges since the beginning of 2025. This massive outflow of funds is indicative of reduced immediate selling pressure on the asset, which typically can be a bullish signal as it mirrors patterns observed during previous bull runs.

In addition to these financial movements, Cardano is actively participating in key industry events, furthering its reputation and influence within the crypto ecosystem. The network is currently involved in GITEX Europe 2025, an important tech event taking place in Berlin from May 21 to 23. Here, Cardano’s team is engaging in discussions focusing on advancements in digital identity and artificial intelligence, showcasing its commitment to innovation and integration within technology and finance sectors.

Furthermore, Charles Hoskinson, the founder of Cardano, has recently confirmed on social media the network's plans to enhance its DeFi capabilities through a strategic partnership with Litecoin. This collaboration aims to leverage both platforms' strengths, enriching Cardano's ecosystem with cross-chain DeFi activity enabled by its privacy and identity protocol, Midnight. Such integration not only fuels the prospects of increased utility but also strengthens community ties and potential adoption.

Cardano's strategic moves and technological initiatives indicate a robust approach to future growth beyond mere price speculation. The network's involvement in technological advancements and partnerships suggests a broader focus on sustainability and long-term value creation within the crypto space. As these developments continue to unfold, Cardano remains a prominent figure to watch in the evolving landscape of digital assets.