Grayscale's Move Ignites Bullish Wave for Cardano and Crypto Market

ADA and PEPE Spark Market Interest, While Cold Wallet Raises $6M and Displays Promising Utilities

Cardano (ADA) has attracted renewed market attention as bullish technical indicators and increased institutional interest signal a potential price breakout. The ADA/USD pair has shown signs of emerging from a long-term bull flag pattern, with analysts suggesting a possible move toward $1.80 in the coming weeks. On the three-day time frame, ADA has confirmed a bullish flag pattern, and a retest of the $1 level as support could validate the breakout, according to Clifton Fx on X. Additionally, on the four-hour chart, a similar pattern has emerged with a projected price target of $1.27 [1].

Longer-term technical indicators also suggest upward momentum. ADA is currently trading above a symmetrical triangle on the weekly chart, and a weekly close above the $1 level could extend the price to $2.12, representing a 126% gain from current levels. The RSI has climbed to 59 from 41 in mid-June, signaling growing bullish momentum across higher time frames [1].

Market activity further supports these technical outlooks. ADA futures volume has reached a five-month high of $7 billion, reflecting heightened interest from both institutional and retail investors. This surge in futures volume mirrors levels seen in March 2025, when ADA prices were last above $1. The increase in volume is a positive sign for liquidity and market confidence [1].

In parallel, the likelihood of a Cardano spot ETF approval has increased, with odds rising to 81% on Polymarket. Grayscale has taken a significant step by registering the Grayscale Cardano Trust in Delaware, a move that aligns with its strategy to launch a Cardano ETF. The trust registration creates the legal structure necessary to support the ETF, positioning Grayscale to prepare for federal filings such as the S-1 or 19b-4 forms required for an ETF listing. Grayscale’s approach mirrors the steps it took with its Bitcoin and Ethereum Trusts [2].

The potential approval of a Cardano ETF is part of a broader regulatory landscape where crypto-based investment vehicles are gaining traction. Grayscale has also filed for ETFs for Dogecoin, Solana, and XRP, though none have yet received approval. The SEC’s cautious approach to crypto ETFs has led to extended review periods, with the XRP ETF decision now expected in October 2025 and the Solana ETF decision in November 2025 [2]. Despite these delays, the expansion of crypto ETF options is seen as a positive development for investor accessibility and market legitimacy.

Meanwhile, Cardano’s Total Value Locked (TVL) has risen to $423.6 million, its highest level since March. This increase in TVL aligns with historical patterns where significant price rallies have followed. For instance, between Nov. 5 and Dec. 7 of the previous year, a 271% TVL increase coincided with a 300% rise in ADA’s price. The current TVL growth suggests continued interest in Cardano’s DeFi protocols [1].

ADA’s recent price surge, which reached over five-month highs following Grayscale’s trust registration, has been partly attributed to broader crypto market optimism. Bitcoin hitting a record high of $124,436.8 contributed to a favorable risk-on sentiment, further supporting ADA’s momentum. As the crypto market evolves, these developments highlight the increasing integration of digital assets into traditional investment frameworks [3].

Source: [1] How High Can Cardano Price Go Beyond $1? (https://cointelegraph.com/news/cardano-massive-rally-one-dollar-breaks-how-high-can-ada-price-go) [2] Cardano Hits New Milestone As Grayscale Moves Forward (https://www.mitrade.com/insights/news/live-news/article-3-1040212-20250814) [3] Cardano surges as Grayscale advances spot ETF plans (https://www.investing.com/news/cryptocurrency-news/cardano-surges-as-grayscale-advances-spot-etf-plans-4190730)