Prominent YouTuber Lark Davies is pointing to major Cardano upside as network development accelerates, says think bigger.
Speaking to his audience of over 630,000 subscribers on April 24, Davies emphasized that Cardano achieved a $90 billion market cap in the previous cycle without smart contracts or widespread application usage.
Now, with smart contracts fully live and real-world use cases emerging, Davies suggested the blockchain’s users should think bigger than in the previous cycle.
The previous bull run saw Cardano move from below $1.2 to reach its highest price level at $3.09. At the same time, its market cap topped above $90 billion before plummeting and is now at around $25 billion today.
Cardano Exceeds 130,000 Smart Contracts
For context, according to TapTools data, Cardano has now exceeded 130,000 smart contracts deployed on its mainnet, indicating a sharp rise in development activity.
JUST IN: Cardano $ADA has officially surpassed 130,000 smart contracts deployed on mainnet. pic.twitter.com/WGdB2IMi6X
— TapTools (@TapTools) April 28, 2025
Smart contracts could contribute to a surge in Cardano’s market capitalization by expanding the blockchain’s utility and application range. For context, smart contracts enable the development of decentralized applications (dApps) across sectors like decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, and supply chain management.
As a result, increased activity typically correlates with higher on-chain volumes, greater total value locked (TVL) in DeFi, and expanding user bases — all of which can strengthen a blockchain’s economic value.
Other Factors That Could See Cardano Surging
In addition to the expanding smart contract ecosystem, network stability has become a defining feature for Cardano.
Frederik Gregaard, CEO of the Cardano Foundation, reported that the blockchain has gone seven years without experiencing a single failure. According to Gregaard, Cardano maintains the most code changes compared to other networks, without missing a block since its launch in 2017.
Moreover, speculation is intensifying around a potential spot ADA exchange-traded fund (ETF). Following the appointment of Paul Atkins as the new chair of the U.S. Securities and Exchange Commission (SEC), optimism surrounding crypto ETF approvals has grown.
Supporting this trend, data from prediction market Polymarket shows the probability of an ADA ETF approval in 2025 has climbed to 46%, suggesting mounting anticipation in the community.
Key Technical Levels Following Cardano Breakout
While these fundamental developments gather momentum, analysts are observing bullish signals for Cardano’s price. Justin Wu noted that ADA recently broke out of a descending wedge pattern that had formed since February 2025. This pattern, characterized by lower highs and lower lows, had kept downward pressure on prices until volatility tightened near its apex.
Notably, between April 11 and April 12, ADA gained over 8% as the breakout unfolded, often seen as a positive indicator for future price action. However, after the initial surge, Cardano entered a period of consolidation, holding steady above a critical support level of approximately $0.51.
Building on this movement, Wu identified two major resistance points to watch. The first sits at $1.2456, with a second resistance target at $1.4642 if bullish momentum continues.
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