Earlier this year, Cardano was one of a short list of cryptocurrencies that had the opportunity to surge in value this year. The market is stagnant, but the possibility is resurfaced. In fact, Cardano has seen the ADA ETF odds reach 75% higher as the $1 hit passes become more and more clear.
Cryptocurrency has surpassed the $0.7 level to start in May with key bounces starting in April. Yet, the crypto market as a whole faces an increasing number of uncertainties amidst macroeconomic factors. If things continue to turn around, it could become one of the biggest winners of the second quarter.
Ada ETF increases approval odds: Can I push Cardano into $1?
In 2024, crypto-based ETFs were industry talk. The investment vehicle has opened new doors to a larger asset class exposure, with Bitcoin and Ethereum approved. In fact, $11 trillion asset manager BlackRock’s Ishares Bitcoin Trust (IBIT) was working so well that it was called the biggest ETF launch in history.
Now, all eyes are looking at what cryptocurrencies can take part in them. In fact, the Securities and Exchange Commission (SEC) enjoys a major shift in custody turnover. So, this year there is almost guaranteed approval. One of the assets of Front and Center is Cardano. At ADAETF, approval odds are jumping by 75%, and assets are targeted at the $1 level.
I’d like to hear directly from Atkins, and there are all good opportunities. This is our latest approval possibility through all DIF spot ETFs @jseyff https://t.co/nlhyjjmo9u pic.twitter.com/4acjvwycs
– Eric Balchunas (@ericbalchunas) April 30, 2025
In a recent post on X (formerly Twitter), Bloomberg’s Eric Balknas updated the approval odds for hosts of crypto-based ETFs. The list included assets such as Solana (Sol), Ripple (XRP), and Cardano (ADA). When the odds of the latter increase, all signs refer to a surge in tokens.
The question is how much higher it can be. There are many people who are hoping to challenge the $1 level in the coming months. According to its daily charts, the ADA recently completed its reverse head and shoulder pattern. Additionally, it also erupted from a falling wedge and reconstructed the trendline above it. With significant momentum, the asset is expected to challenge $0.81 before jumping further towards the $1.17 level.