Cardano (ADA) is experiencing quite a steep price rally. The asset is outperforming major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), etc. CoinGecko data shows that ADA’s price has risen by 7.1% in the last 24 hours, 19.3% in the last week, 20.9% in the 14-day charts, and 18.6% over the previous month. Let’s discuss why Cardano (ADA) up today and if the upswing can sustain itself.
Why Is Cardano Price Up Today?
Firstly, whales have been accumulating Cardano (ADA) in the last few days. Santiment data shows that whale wallets saw inflows of 240 million ADA coins. Large whale wallets currently hold about 14.5 billion ADA coins. Whale activity often lead to price movements. Smaller investors may have followed the money as well.
Secondly, Cardano (ADA) will complete its 75-day period for regulated futures trading on the Chicago Mercantile Exchange (CME) on August 9, 2026. We could see the approval of a Cardano (ADA) ETF (Exchange Traded Fund) soon after.
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Furthermore, the Cardano community recently voted to approve a roadmap that would allows the ADA blockchain to fund core development directly from the treasury. This would mark the first instance of a blockchain adopting such a model. The move would make Cardano (ADA) even more decentralized. The move also comes with ADA entering its Dijkstra development era.
Can The Rally Sustain?
While Cardano (ADA) seeing some positive price action, there is a high chance that the rally may fizzle out. Firstly, Federal Reserve Chair Kevin Warsh said that he is prepared to raise interest rates in September if inflation goes up for July. Higher rates may negatively impact the cryptocurrency market.
Secondly, voting on the CLARITY Act will likely be delayed which may lead to a dip in investor sentiment. Cardano’s (ADA) price could take a hit due to the delay.