Cardano Price Set to Surge to $2 Amid Whale Buying and ETF Buzz

Cardano (ADA) has been trading within a narrow range as it awaits its next catalyst, currently at around $0.76—a 43% drop from its December high. However, multiple factors could propel ADA to $2 in the coming months. Whale activity has been significant, with over 240 million ADA acquired in the past week for more than $182 million, suggesting increasing institutional interest. In addition, the likely approval of a spot ADA exchange-traded fund by the SEC, supported by filings from Grayscale and Tuttle Capital Management, could lead to fresh investment inflows. Complementing these catalysts is the rising trend in staking, evidenced by an 8.1% increase in the staking market cap to $16.1 billion and steady yields at 2.60%, signaling long-term investor commitment. Technical indicators also point to a bullish outlook as ADA forms a bullish flag pattern and appears ready to enter the third phase of an Elliott Wave, which may unlock further price gains. While ADA underperformed other coins like OM and CRO in recent trading sessions, these developments could catalyze a turnaround for Cardano, stepping up its market performance over both the short and long term.