Cardano could be up for a rally to double digits, with an analyst highlighting major catalysts for the uptrend, primed to happen this year.
The Cardano community is buzzing following the recent breakthrough. Bitcoin DeFi is now live on Cardano, with Lace Wallet rolling out a protocol that allows Bitcoin users to access decentralized finance functionalities directly within their wallet.
Meanwhile, ADA’s price has yet to react to this positive sentiment. The blue-chip crypto asset is down 7.2% in the past seven days, continuing its sideways trend today. Nonetheless, market watchers remain confident that Cardano still has more left in the tank this year.
Cardano Heading to $10
Specifically, experienced market trader and Cardano stake pool operator Ssebi has suggested that ADA is on track to achieve a double-digit valuation this year. In a May 28 X post, he shared five possible catalysts for Cardano to rally 1,233% to $10 in 2025.
First, he mentioned Cardano’s leading position in unlocking DeFi on Bitcoin as a notable ingredient for a price explosion. As mentioned earlier, the Cardano ecosystem has been working diligently to provide a bridge that allows Bitcoin holders to utilize their idle assets.
Cardano founder Charles Hoskinson deems the innovation a massive win for both ecosystems, insisting it will unlock trillions of dollars in liquidity for Cardano, pushing its total value locked (TVL) to four times that of Solana and Ethereum combined. Notably, Ssebi shares a similar sentiment with Hoskinson.
Furthermore, the SPO identified another cross-chain opening that would push ADA to $10. The imminent Midnight airdrop, available to asset holders across multiple chains, including XRP, is expected to attract 37 million users to Cardano, potentially catalyzing an ADA uptrend.
Institutional Adoption to Fuel Rally
Prominent asset manager Grayscale recently filed with the US Securities and Exchange Commission (SEC) to convert its Cardano Trust into a spot ETF, becoming the first to seek approval to launch a traditional investment vehicle tracking ADA’s price action.
The development followed Cardano’s mention among the five coins that would make up the US strategic crypto reserve. The March announcement surprisingly included ADA alongside Bitcoin, Ethereum, XRP, and Solana as assets that the United States would stockpile.
Ssebi highlighted these two developments, which connote institutional traction, as factors that could spur the 1,233% uptick to $10 this year. Lastly, he mentioned that optimism from the Leios upgrade would also contribute to the predicted ADA uptick.
The Leios upgrade, scheduled to go live in 2026, will enhance Cardano’s throughput and processing capabilities. It would make the blockchain one of the fastest, with a theoretical transaction speed of up to 11,000 transactions per second (TPS). The fork would also introduce a parallel block processing system, replacing the single-block structure with a capability that processes multiple transactions simultaneously.
Other Cardano to $10 Predictions
Interestingly, other analysts have also forecasted that the 1,233% rally to $10 is on the horizon. For context, popular YouTuber The Modern Investor stated that Cardano at $10 is very possible, citing some bullish fundamental developments mentioned by Hoskinson.
Cardano bull Dan Gambardello also predicted a rally to $10, insisting that a developing cup and handle pattern on ADA’s 1D chart would fuel the uptrend to the new price high.
ADA trades at $0.75 at the time of writing.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
