Cardano (ADA) is witnessing rejuvenated upward momentum, a bullish move catalysed by Bitcoin’s and Ethereum’s recent market rallies, according to data posted today by market analyst Cobak. ADA has recorded impressive strength since the beginning of this month. It started seeing an upturn trajectory on August 3rd from a low of $0.682, and today its value is at $0.9899, up 33.6% over the past seven days.
Bitcoin, Ethereum Fuel Cardano Ascent
ADA’s recent price growth coincides with BTC’s and ETH’s recent market upswing, as pointed out by the analyst. Bitcoin, which today rose to a high of $121,674, has been up 5.8% over the past week, propelling altcoin prices higher across the wider virtual currency market. ETH is currently hovering at $4,701.98, up 26.4% over the past week. Its surge aligns with rising interest in crypto diversified assets, with some organizations splashing funds as much as billions into ETH accumulations. Cardano’s weekly gains of 33.6% reflect bullish moves in BTC and ETH as risk appetite for virtual assets increases.
Cardano ETFs in the Race
Cardano’s upward movement also came after Grayscale Investment, a well-known crypto trading firm, made a significant announcement to roll out a spot ETF connected to the altcoin. ADA rose more than 13% today to reach $0.9898, marking its highest peak since early March.
As reported in the public filings on August 12th, 2025, Grayscale registered two statutory trusts for Hedera and Cardano on the Delaware portal, indicating its preparation to launch new spot ETFs for both assets. Its action resembles its earlier regulatory steps, which it followed while applying for its Bitcoin Trust ETF and Ethereum Trust ETF. A spot Cardano ETF would dynamically track the price performance of the asset, enabling traders to gain exposure without direct investment into the crypto asset.
Cardano’s Forthcoming Network Upgrades
Lastly, as indicated by the data, another major catalyst for Cardano’s rally is upcoming network upgrades that are pumping fresh energy into the asset’s uptrend, strengthening confidence in its technical outlook. This new month, Cardano entered an important new phase. On August 4th, the Cardano community authorised a proposal to allocate 96 million ADA tokens worth $71 million from the treasury to finance major network upgrades. This approval marks a crucial growth in the blockchain’s governance affairs: users (the Cardano community members) can now directly approve vital expenditure decisions aimed at the ecosystem’s expansion.
As per on-chain data, 74% of members voted in favour of the proposal. The financing will back essential upgrade initiatives across a 12-month advancement timeline, concentrating on developing scalability, multi-chain composability (interoperability), and builder accessibility. The approved upgrades are a component of wider programs aimed to improve the network’s processing speeds, create a seamless onboarding process for builders, and smoothen future development.
From the analysis above, big investor accumulation, network upgrades, and potential spot ETF approvals indicate rising institutional enthusiasm for Cardano. These bullish factors explain the reason some market analysts anticipate that ADA is preparing for a possible 60% increase, eyeing a breakout above $1.20 soon.
