The price of Cardano has secured a major boost with ETF applications which optimists noted may push the ADA valuation to a high of $20 in the long term
Crypto analysts are optimistic that the growth in Cardano (ADA) price may extend to the point of hitting $20. The altcoin is trading at $0.7843 following some market fluctuations that led to a 2.97% dip in the last 24 hours.
Interaction Between Cardano and Bitcoin to Drive ADA Price
Considering this market price, these analysts suggest that ADA would record a more than 2,450% increase.
While the price forecast for ADA is quite lofty, an ADA proponent known as Sssebi has listed some conditions as the basis for the potential increase. He pointed out the potential interaction between Cardano and Bitcoin.
During the October 2024 Cardano Summit, held in Dubai, Cardano was unveiled as the upcoming DeFi layer for Bitcoin. With the revelation sending shockwaves to the Cardano community, Sssebi is positive that it holds the potential to impact ADA prices positively.
🔄Adding 1 more to the list
Reasons $ADA can go to $20:👇
1. Cardano becomes Bitcoin DeFi layer
2. Charles Hoskinson becomes Trump’s Crypto Advisor.
3. Cardano ETF in 2025
4. Microsoft partnershipDid I miss any? https://t.co/reGW6iYNVX
— Sssebi🦁 (@Av_Sebastian) February 12, 2025
Another major factor that could catapult ADA price to $20, in Sssebi’s opinion, is the potential approval of a Cardano Exchange Traded Fund (ETF).
Investment asset management firm Grayscale applied to list the fund with the NYSE. Markedly, crypto users are hopeful that a price rally will follow the approval of this spot ETF.
Meanwhile, Tuttle Capital Management filed a unique 2X Leverage ETF application to list Cardano and other cryptocurrencies like XRP, Solana, Litecoin, Trump, Melania, Bonk, BNP, Chainlink, and Polkadot.
The finance service provider plans to provide double the daily return of each underlying asset to institutional investors. In the meantime, no favorable response has been made by US regulators about these ADA ETF applications.
Cardano And Microsoft Partnership?
About a week ago, Cardano founder Charles Hoskinson revealed the possibility of a collaboration between the protocol and tech giant Microsoft. The specifics remain unknown for now, but should it pull through, the Cardano chain and the broader crypto ecosystem are bound to experience a shift.
Analysts are optimistic ADA price could hit the predicted $20 level based on this strategic partnership. In addition, Sssebi says Hoskinson’s crypto advisor role in the Donald Trump administration could be a major catalyst for Cardano’s price rally toward $20 in the long run.
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