Cardano (ADA) has seen impressive gains over the past week, with 25% gains in the last seven days, making it one of the best-performing cryptocurrencies among the ten largest digital assets on the market. On Friday, the token reached a price of $7, moving a daily volume of over $0,77 billion.
This advance comes as Bitcoin remains above $117, paving the way for altcoins like ADA to gain traction. The move was driven primarily by the growing activity of whales—large investors—who demonstrated strong confidence in the asset.
Recent data indicates that wallets holding between 1 million and 10 million ADA acquired 120 million tokens in a two-week period, totaling an investment of over $71 million. As a result, these investors now hold approximately 5,57 billion ADA, representing about 15,4% of the total supply.
Amid the optimism, Cardano founder Charles Hoskinson provocatively commented on social media: “Remember when we were told a $100 million ADA trade would crash the price?”, highlighting the current buying momentum in the market.
The enthusiasm also extends to the regulatory market. According to the Polymarket platform, the probability of an ADA-based ETF being approved in the United States has risen to 89%. "The odds of a standalone Cardano $ADA ETF being approved this year have reached an all-time high," the platform reported in a post.
In technical analysis, Ali Martinez suggested that ADA's price could reach $0,84, considering that a similar pattern has resulted in gains of over 50% in the past. Analyst Deezy noted that the token is testing the 50-week exponential moving average—a breakout of this level could lead to an upward movement to $1,77, based on previous strong growth trends.
The last time this happened, Cardano $ ISLANDS surged 55%! pic.twitter.com/G2B9fqOHzX
— Ali (@ali_charts) July 11, 2025