%Cardano (CRYPTO: $ADA) has advanced to the third spot in Grayscale’s “Top 10 Crypto Assets by Weekly Returns,” as it emerges on a new thrust as it awaits a possible approval of its proposed ADA exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC).
https://twitter.com/Grayscale/status/1953905902932881485
The most recent snapshot of Grayscale ranked ADA in the third place because it increased by 6.3% between July 31 and August 7, 2025. The increase comes after a decline to the 9th position last week as the token declined by 8.1%. ADA has a market capitalization valued at $28.7 billion with a year-to-date growth of 6.8%.
The performance uptick was accompanied by the successful mainnet launch of Midnight, a privacy-centered protocol on the Cardano network that has attracted a lot of interest within the community. Although its price fell by 3.48% daily, ADA experienced a lesser drop than the 1.78% loss in the general %Crypto market in the same period.
XRP was at the top with a 9.7% weekly growth, followed by Stellar. The fourth to seventh positions were occupied by %Dogecoin (CRYPTO: $DOGE), Ethereum, Tron, and %Solana (CRYPTO: $SOL), and Bitcoin came in eighth place after its increment of 1.5%. Hyperliquid and BNB rounded up the list.
SEC Decision on ADA ETF Expected Soon
Analysts believe that the SEC will solve the problem of Grayscale ETF ADA applications before the end of August. The optimism of approval received a huge upswing with regulatory clarifications that some staking activities might not constitute securities.
%Polymarket data shows a 75% chance that the ETF will be allowed, but the SEC may relegate the decision to October 23. The regulator has now formally recognized the application submitted earlier this year.
Last month, the SEC granted Grayscale permission to convert its %Bitcoin (CRYPTO: $BTC), %Ethereum (CRYPTO: $ETH) , XRP, and ADA large-cap fund to ETFs. Compared to Bitcoin, which makes up 80% of the GDLC fund, and Ethereum, which makes up 11%, Cardano already makes up 0.8%.
Long-Term Holders Maintain Strong Support
The long-term holders continue to support Cardano’s market position. According to Alphractal data, ADA is heavily concentrated in four-year-old or more wallets, with a new phase of accumulation beginning in spring 2025. The accumulation trend since 2021 shows that firm investors still reflect confidence.
ADA broke through the $0.80 level in July but is still below its December 2021 high of $1.21. Although it is not among the top 10 cryptocurrencies in terms of market capitalization, ADA is included in the top 15 cryptocurrencies due to a consistent number of long-term supporters.
This month, the founder of Cardano, Charles Hoskinson, is also releasing an audit report on the Input Output Global ADA token management that was carried out in 2021. The review comes after a three-month allegation that he was misappropriating tokens. Hoskinson has noted that there may still be defamation litigation once findings are published.
