TLDR
- Cardano daily transactions jumped to 50,000 from previous lows of 30,000 at the start of May
- SEC decision on ADA ETF approval set for May 29, with approval odds reaching 71% on Polymarket
- ADA price gained 8% since early May and 5% over the past seven days
- Whales accumulated $680 million worth of ADA tokens, moving them off exchanges
- Cardano leads Ethereum and Solana in core developer activity despite ecosystem challenges
Cardano (ADA) Price: Daily Transactions Hit 50,000 As ETF Decision Approaches
Cardano daily transactions have reached 50,000, marking a sharp increase from the 30,000 recorded at the start of May. This surge comes as traders prepare for the SEC’s decision on a spot ADA ETF.
JUST IN: Daily Cardano $ADA transactions have climbed from ~30,000 to nearly 50,000 since the start of May. pic.twitter.com/MkDBkizB34
— TapTools (@TapTools) May 27, 2025
Transaction volumes on the Cardano network have also climbed to $684.6 million over the past 24 hours. The increase in network activity has helped push ADA price up by 8% since early May.
The price gains have continued over the past week, with ADA rising 5% in the last seven days. Current trading data shows ADA at $0.7524 as of the latest reports.
SEC ETF Decision Creates Market Anticipation
The US Securities and Exchange Commission faces a May 29 deadline to decide on Grayscale’s proposed Cardano ETF. Approval odds on Polymarket have climbed to 71%, the highest level since April 20.
🇺🇸 Grayscale's Cardano $ADA ETF deadline for decision is this week.
The SEC must approve, deny, or delay it by this Thursday, May 29.
Do you think it'll get approval this week? pic.twitter.com/84o9lyLksJ
— Cardanians (CRDN) (@Cardanians_io) May 26, 2025
In mid-April, the chances of approval before the end of 2025 were only 37% on the prediction market. The current odds above 70% show growing trader confidence despite recent delays for other crypto ETFs.
Bloomberg ETF analyst Eric Balchunas estimates a 75% chance the ETF will launch this year. He suggests the SEC might approve several crypto ETFs during the summer months.
The SEC has up to 240 days to review Grayscale’s spot ADA ETF filing. The final deadline sits at October 22, with the agency able to delay its decision multiple times before then.
Whale Activity Points to Institutional Interest
Large holders have been accumulating ADA tokens ahead of the ETF decision. Data shows $680 million worth of ADA tokens left exchanges, indicating bullish sentiment among major investors.
$680M ADA Leaves Exchanges: Cardano Eyes $1, Potential Climb to $3 pic.twitter.com/pQWeAcp0nU
— Cardano Feed ($ADA) (@CardanoFeed) May 27, 2025
This whale accumulation pattern often signals preparation for price movements. The outflow from exchanges suggests these large holders plan to hold their positions rather than sell.
Some analysts project ADA could reach its previous peak of $3 if the ETF receives approval. Others suggest the token could climb as high as $4.50 if it breaks through current resistance levels.
Institutional interest in ADA could mirror the success seen with Bitcoin and Ethereum ETFs. Both assets experienced increased institutional adoption following their ETF approvals.
Network Metrics Show Development Strength
Cardano currently leads both Ethereum and Solana in core developer activity metrics. This technical development work supports the network’s long-term growth prospects.
The network supports 48 DeFi applications and holds $443 million in total value locked. However, it contains only $31 million in stablecoins, which trails newer blockchain networks.
Technical Analysis Suggests Bullish Setup
Weekly chart analysis shows Cardano trading above its 100-week moving average. This level serves as a key long-term support for the token’s price action.
The RSI indicator sits at neutral levels around 51. MACD and momentum indicators show slight bearish signals in the short term, but long-term moving averages remain bullish.
If current momentum continues, ADA could retest its previous high of $1.207 from last year. A breakout above that level could target the $2 price range.
Support levels remain strong across the 30, 50, 100, and 200-day exponential moving averages. These technical indicators suggest underlying bullish sentiment for the longer term.
The May 29 SEC decision represents a major catalyst that could determine ADA’s next price direction. An approval could attract institutional investment and push the token past the $0.84 resistance level.
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