Cardano (ADA) Surges on Midnight Airdrop, ETF Odds Boost Price to $3

Cardano (ADA) surged nearly 20% over the past week, including a 12% jump in the last 24 hours, driven by the Midnight airdrop, which began on August 5, 2025. The airdrop will distribute 24 billion NIGHT tokens across multiple chains, with ADA holders eligible for half the supply. This catalyst has improved the Cardano price forecast as traders anticipate increased demand. Prediction markets now assign an 85% chance to a Cardano ETF approval in 2025—up from 69% last week—potentially unlocking institutional capital and raising ADA’s profile. On-chain data reveals whales have accumulated approximately 200 million ADA, boosting large-holder stakes to over 10% of the total supply. Technically, ADA has reclaimed the $0.81 level as support and trades above its 10-, 20-, 50-, and 200-day EMAs following a descending triangle breakout, further reinforcing bullish momentum. DeepSeek analysts forecast ADA could reach $3 in the coming months, citing ETF approval odds and strong on-chain activity. Meanwhile, Bitcoin Hyper (HYPER), a presale Layer 2 solution integrating the Solana Virtual Machine and a decentralized canonical bridge on Bitcoin, has raised over $9 million. HYPER offers Solana-like speed, low fees, and programmability to Bitcoin, positioning it for potential 2400% gains. Traders should watch the Cardano ETF approval progress, Midnight airdrop claims, and ADA’s key technical levels for short-term moves. In the long term, institutional flows and whale accumulation could underpin sustained growth. Also, monitor Bitcoin Hyper’s presale momentum as a high-risk, high-reward altcoin opportunity. For actionable trading strategies, update the Cardano price forecast as ETF and airdrop developments unfold.