Cardano (ADA) is witnessing significant whale accumulation, with large holders adding approximately 180 million tokens during recent price pullbacks. Despite ADA's current price hovering around $0.38, analysts remain optimistic about its long-term potential, citing targets between $3 and $10. This accumulation suggests strong conviction among investors, even as short-term price action remains subdued. Institutional interest in Cardano is also on the rise, with Cyber Hornet filing for an ETF that includes ADA among the top ten digital assets. Additionally, Grayscale's Smart Contract Fund has allocated 18.5% to ADA, and a proposed Cardano spot ETF is anticipated in early 2026. These developments, alongside technical indicators, support a bullish narrative for Cardano, with analysts projecting significant upside potential.