Whale accumulates 200 million ADA as the likelihood of ETF approval reaches 75%

In the past 48 hours, "whales" have purchased an additional 200 million ADA, equivalent to 157 million USD, demonstrating strong confidence from investors with large capital flowing into Cardano.

Market analyst Tom Tucker stated that this move comes at a time when the chances of ADA's ETF approval have increased to 75% according to Polymarket.

Source: PolymarketThe whale accumulation occurred right after Cardano surpassed the psychological threshold of $0.90 – a price level that had been restrained for several months. This momentum helped ADA increase by 33% in just one week.

The 10th largest cryptocurrency by market capitalization does not stop there as it has retraced to the price level of $1 before returning to the $0.95 range.

Trust from institutions is also strengthened as Grayscale officially files for a spot ETF license for Cardano. This is an important factor contributing to the surge of optimism in the market.

Famous analyst Ali Martinez believes that Cardano has the potential to reach $1.50.

Source: Ali MartinezMartinez's chart shows an inverse head and shoulders pattern, where a breakout could push ADA to $1.10 and even $1.50.

Another report from Issifou Issaka also indicates that ADA is preparing to break out of the descending channel, opening up potential towards the $1.65 region.

Thus, the combination of the wave of accumulation from whales and the expectations of ETFs has created an extremely optimistic picture for Cardano.

Meanwhile, Cardano is charting a bold path ahead after approving a long-term project aimed at strengthening the network and promoting wider adoption.

The community has given the green light for 96 million ADA, worth 71 million USD, from the treasury to fund the protocol upgrade through a centralized governance model.

Vincent