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- An analyst sees Cardano poised for over 260% growth, targeting $2.90 after potential short-term gains to $1.20.
- ADA rallies 127% YTD as major upgrades and ETF optimism fuel long-term bullish sentiment.
Cardano (ADA) has once again become the focus of analysts after its price movement pattern was deemed similar to previous cycles. According to analyst Ali Martinez, this pattern is developing more slowly, but it actually signals the early stages of a potential major surge. He sees early signs similar to those leading up to ADA’s major rallies in the past.
Cardano Could Be on the Verge of Its Biggest Rally Yet
This optimistic view is also shared by analyst Javon Marks. He predicts ADA has the potential to rise more than 52% from its current level to a range above $1.20, based on similar breakouts in the past.
Marks even underscored that this rise may be just part of a much longer rally, with an ambitious target of around $2.90—representing an increase of over 261% from the current price.
Furthermore, a prediction from CoinLore predicts ADA could return to $0.8103 within the next 10 days. Long-term projections set a target of around $2.61 by 2025, and could reach $6.35 by 2030. If this trend materializes, it’s possible Cardano could experience one of the most aggressive rallies in its price history.
Besides that, recent data reported by CNF indicates a surge in interaction on the Cardano network. Unique Active Addresses (UAA) surged from 29.6k to 30.9k in just one day.
More interestingly, the ratio of profitable to losing on-chain transaction volume rose sharply from 1.79 to 4.8. This means more users are moving assets in profit than in loss. This surge is often seen as a sign of strengthening interest and trust in the network.
Despite this positive trend, short-term price movement has not been entirely smooth. In the past 24 hours, ADA has corrected 2.74% to $0.79 due to profit-taking after a sharp rise. However, in the past week, its value has still grown 9.28%, and since the beginning of the year, it has surged 127.58%, even reaching $0.81 on August 9th.
Boost from Ecosystem Development and External Factors
Meanwhile, the Cardano ecosystem continues to receive development support. The community has approved $71 million in treasury funding for core development, including Hydra as a layer-2 solution and the Ouroboros Leios consensus upgrade.
This upgrade aims to increase transaction capacity from 250 TPS to over 1,000 TPS, while reducing transaction fees. Initial fund disbursements began on August 3rd, with a key milestone expected at the mainnet launch in Q4 2025.
External factors are also fueling optimism. The probability of an ADA spot ETF launching in the US in 2025 on the prediction platform Polymarket is now at 79%, especially following Grayscale’s filing earlier this year. However, regulatory challenges remain, as the SEC continues to classify ADA as an unregistered security in lawsuits against several exchanges.
Furthermore, we previously highlighted Charles Hoskinson’s statement at the end of July, which added spice to the community discussion. He argued that ADA’s smaller market cap compared to top crypto assets provides greater room for growth.
However, his comments, which mocked the idea of exchanging ADA for Bitcoin, and mentioned a 1,000x projection, sparked strong criticism. Some considered the claim to be too far-fetched and potentially misleading to the community.
