Cardano Soars to $0.966 on Grayscale ETF Hopes and Major Network Upgrade: Is $1.50 Possible?

Cardano ($ADA) has rocketed toward $1 as a perfect storm of institutional hype and major network upgrades sent shockwaves through crypto markets. The 9.9% pump to $0.966 comes amid explosive whale activity and whispers of a game-changing ETF play that could rewrite Cardano’s price history. Behind the scenes, tectonic shifts are occurring that could push this blockchain heavyweight into uncharted territory. While the technicals show a fierce battle at key resistance, the bigger story lies in developments that may soon make $ADA impossible for institutional investors to ignore. Source: CoinGecko Cardano ($ADA) Gains Momentum Amid ETF Hopes and Major Upgrades Cardano recently saw increased market optimism after Grayscale filed for a Cardano Trust ETF in Delaware on August 12. Following the precedent set by Bitcoin ETFs, analysts believe this move could mirror Bitcoin’s 2024 ETF trajectory. Polymarket now places the odds of an $ADA ETF approval at 62%. Exchange-traded funds (ETFs) are widely regarded as signs of institutional validation, often boosting liquidity and increasing investor demand. INSIGHT: According to @Polymarket , Odds are in Favor (62%) of Cardano $ADA ETF Approved by SEC in 2025 pic.twitter.com/YvzUbyyJOs — CryptosRus (@CryptosR_Us) June 3, 2025 The Cardano community has also approved ₳96 million ($71 million) for major network upgrades. Among the most anticipated is Hydra, Cardano’s Layer-2 scaling solution, which is close to its mainnet deployment. Recent controlled tests of Hydra have demonstrated its potential to process over one million transactions per second (TPS). At the same time, the network is also preparing for the Ouroboros Leios upgrade , a major protocol enhancement designed to substantially increase transaction throughput. Ouroboros Leios is set to massively scale Cardano $ADA , increasing transaction throughput while maintaining security and decentralization. By decoupling transaction processing from block validation, Leios enables parallel transaction processing—pushing Cardano toward millions of… pic.twitter.com/LRde2SrYZ0 — TapTools (@TapTools) February 18, 2025 These upgrades, funded through a milestone-based smart contract system set to begin in Q4 2025, are expected to boost developer activity and the network’s total value locked (TVL) in DeFi, which currently stands at $415 million. Further strengthening Cardano’s infrastructure is Project Acropolis , scheduled for Q4 2025, which promises a node architecture overhaul to simplify third-party contributions. The upgrade seeks to reduce RAM usage by 40% and improve sync times for node operators, further strengthening Cardano’s ecosystem and long-term adoption prospects. Cardano founder Charles Hoskinson recently cited Monero’s collapse to show $ADA’s resilience, reinforcing confidence among investors. Investor activity also points to bullish sentiment. For example, 15 billion $ADA (42% of the circulating supply) hasn’t moved in over a year—the highest dormancy since 2021. Meanwhile, whales added 420 million $ADA during the rally, indicating cautious optimism. This reduced liquid supply supports price stability, even as some investors avoid profit-taking. Whales purchased 200 million $ADA ($157 million) within 48 hours. ADA Price Rejection Halts Parabolic Advance After Moving Average Breakout $ADA’s recent rally, sparked by a moving average cross and a breakout from a base-building phase, stalled near the $1.00 psychological barrier. The pullback followed a strong advance that began after ADA broke above key averages, with the 20-SMA moving above the 50- and 100-SMAs. The shift drew momentum traders and algorithmic buying, accelerating gains. $ADA/USDT price chart, August 14 (Source: TradingView) On the 4-hour chart, volume expanded as buyers entered during the breakout candle. The uptrend held until the price hit a supply zone below $1.00, where sellers absorbed demand. A sharp upper wick and ongoing retracement point to distribution or trapped longs closing positions. Momentum indicators are cooling. RSI climbed above 80 before easing to the 64–67 range, while the MACD histogram began contracting, though the signal line remains above zero, indicating a pullback phase rather than a reversal. The 1-hour volume footprint shows high-volume nodes between $0.95 and $0.97, with sell deltas exceeding 5M at $0.96–$0.965, indicating heavy offer absorption. As the price approached $0.98, multiple failed bids were absorbed by sellers, reflected in the massive red delta and a drop in the net buy/sell imbalance. This order flow behavior suggests that sellers are currently defending the $0.97–$0.98 range with conviction, halting momentum before a breakout through $1.00 could materialize. The $0.88–$0.90 region, where prior demand emerged on strong volume, could offer a support base if price pulls back. However, if the bulls push ADA above $0.965, it would shift the bias back toward a potential retest of $1.00. The post Cardano Soars to $0.966 on Grayscale ETF Hopes and Major Network Upgrade: Is $1.50 Possible? appeared first on Cryptonews .