Cardano Whales Strike with 200 Million ADA Buy as ETF Odds Reach 75%

Whales have snapped up 200M Cardano in a fresh $157M buying spree, signaling surging big-money confidence in ADA.

Calling out this development, market analyst Tom Tucker pointed out, “Whales bought 200M ADA in the last 48hrs, just as ETF approval chances went up to 75%.”

Whales ramped up accumulation as Cardano shattered the $0.90 psychological barrier after months of sideways action, fueling a 33% weekly surge.

The 10th-largest cryptocurrency by market cap didn’t stop there because it retested the $1 price before pulling back to the $0.95 zone. 

Given that Grayscale has filed for a spot Cardano ETF, underscoring rising institutional confidence in ADA and amplifying bullish market sentiment, the altcoin might be destined for greater heights.

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Renowned crypto analyst Ali Martinez believes that Cardano has all it takes to hit the $1.50 level.

Martinez’s chart points to an inverse head-and-shoulders, where a breakout could launch ADA toward $1.10 and potentially $1.50.

A recent analysis by Issifou Issaka shows Cardano eyeing a breakout from its descending channel, targeting a run toward $1.65.

Therefore, the rollout of an ETF and heightened whale accumulation paint a bullish picture for Cardano.

Meanwhile, Cardano is charting a bold path forward after approving a long-term project to fortify its network and drive wider adoption. 

The community greenlit 96M ADA, worth $71 million, from the treasury to fund protocol upgrades via centralized governance.