Overview
- ADA trades around $0.78 as a long-term cup-and-handle pattern approaches its $0.92 neckline, a move that has historically triggered significant rallies
- Polymarket raised the probability of a spot-ADA ETF approval to 83%, with Bloomberg analysts now estimating a 90% chance ahead of the SEC’s October decision
- Charles Hoskinson proposed reallocating up to $100 million from Cardano’s treasury into Bitcoin and stablecoins to boost liquidity for a planned stablecoin, stirring debate over potential selling pressure
- Critics note that Cardano’s DeFi ecosystem remains underdeveloped compared with rivals, with total value locked far below Ethereum and lingering regulatory uncertainty in the U.S. A confirmed breakout above $0.92 could open the path to a roughly 4× rally toward $4, but market momentum and institutional catalysts will determine the outcome