Cardano Market Heats Up Ahead of Potential Spot ETF Approval – $680 Million ADA Flows Out of Exchanges

Anticipation Builds as SEC Decision on Cardano ETF Nears

As the cryptocurrency industry awaits the U.S. Securities and Exchange Commission’s (SEC) ruling on a possible Cardano (ADA) spot ETF, activity on the Cardano blockchain has surged to new heights. The growing optimism around a possible ETF approval is driving both trading volume and investment interest in ADA.

ADA Transaction and Trading Volumes Reach Monthly Highs

According to on-chain data aggregated by TapTools, Cardano’s daily transaction count has jumped from approximately 30,000 at the start of May to around 50,000—marking its highest monthly activity so far. The daily trading volume has also climbed, reaching nearly $693 million. As a result, the ADA price has surged over 8% since the beginning of the month, reflecting robust demand amidst ETF speculation.

ADA Outflows Signal Bullish Sentiment

There is growing optimism among investors, with prediction platforms estimating a 71% likelihood of the Cardano ETF receiving SEC approval by the decision date of May 29. This rising confidence has triggered significant accumulation: roughly $680 million worth of ADA has been withdrawn from centralized crypto exchanges—a clear bullish signal, as investors are moving their tokens into personal custody in anticipation of long-term gains.

Analysts See Potential for Record-High ADA Prices

Crypto analysts suggest that a positive ETF decision could propel Cardano’s price up to $3 or even beyond its all-time high. Additionally, increased developer activity on the Cardano blockchain strengthens the project’s fundamentals, further fueling long-term growth expectations.

Cardano’s current momentum is attracting serious attention from institutional investors and retail traders alike, positioning ADA as a key cryptocurrency to watch in the evolving digital asset landscape.