Cardano (ADA) is experiencing a significant surge in price, breaking out of key resistance and signaling strong bullish momentum. This upward trend has been fueled by increasing institutional interest, evident from substantial whale accumulation and rising ETF approval odds. 200 million ADA was recently accumulated by whales, coinciding with a high 75% probability of an ETF approval for Cardano in 2025 as per Polymarket data. Analysts highlight this accumulation pattern resembling a similar surge seen in 2021, potentially leading to higher prices driven by reduced supply and increased demand from institutional investors. This upward momentum is further supported by recent technical indicators suggesting continued growth potential in the coming weeks. Furthermore, Grayscale’s registration of Cardano and Hedera Trust ETFs adds another layer of support. The move signals growing interest from institutional investors and could pave the way for a formal spot ETF submission to the SEC, expanding exposure beyond existing markets for Bitcoin and Ethereum.