Cardano, a cryptocurrency with modest yet stable fluctuations, shows positive trends amid expectations for ETF approval from the SEC.
Return of Cardano Market Momentum
Grayscale placed Cardano in third place in its "Top 10 Crypto Assets by Weekly Returns" list, thanks to a 6.3% increase from July 31 to August 7, 2025. This recovery comes after an 8.1% slump the previous week, which saw it drop to ninth place, but it has now raised its market capitalization to $28.7 billion.
Growing ETF Speculation on ADA
The market is reacting to the successful launch of the Midnight project, which focuses on privacy and utilizes Cardano's network. Anticipation is building as Grayscale's request to launch an ADA ETF is under review by the SEC, with Polymarket data showing a 75% chance of approval. However, there is a possibility that the SEC may delay its decision until October 23, which could affect Cardano-linked assets.
Upcoming Audit from Charles Hoskinson
Cardano founder Charles Hoskinson is preparing to publish an audit on ADA token management in response to allegations of misappropriation. The timing of the audit's release could coincide with potential ETF approval and influence the market accordingly. As of writing, ADA is trading at 0.774, down by 2.29% in the last 24 hours, but the overall sentiment remains positive.
Cardano actively responds to market events, and its successes in Grayscale rankings highlight the increasing interest in the asset amid anticipation of a crucial regulatory decision.
