Cardano Soars 25% Ahead of August 9 ETF Eligibility Deadline

Cardano's price surged by 25% over the past seven days, reaching roughly $0.196 and adding approximately $693 million to its market cap. This makes ADA the top-performing asset in the top-100 crypto rankings.

The rally is closely tied to Cardano's upcoming eligibility for a spot ETF filing under the SEC's new listing path on August 9. According to the SEC's generic listing standards, any exchange can list a qualifying ADA fund without filing a separate rule change once this milestone is reached.

Whales have already taken advantage of the situation, with wallets holding between 100 million and 1 billion ADA adding over 240 million tokens in under a week. This accumulation on a large scale suggests real buying power.