TL;DR

Cardano’s ADA shows bullish momentum, with analysts predicting a potential rally to $1 in the coming weeks and even $10 by the end of 2025, though reaching this price would require a market cap of over $350 billion. Grayscale’s potential approval for a spot ADA ETF in the US could be a major catalyst, offering regulated exposure and boosting demand for the asset.

Is ADA Gearing up for a Massive Rally?

The cryptocurrency market has experienced a setback in the past 24 hours, with Bitcoin (BTC), Ethereum (ETH), and many more leading assets charting losses.

One of the few that has remained in green territory is Cardanos ADA. The token is up around 3% for the day and currently trades at roughly $0.80 (per CoinGeckos data).

ADA Price, Source: CoinGecko According to many industry participants, the resurgence has yet to reach new dimensions. The X user Sssebi thinks ADA needs to climb to a higher high to sustain the bullish momentum. Otherwise, we could be forming a head and shoulders, they assumed

CryptoBull_360 also weighed in, claiming that ADA could retest the broadening wedge breakout zone in the 4-hour time frame. The analyst argued that trading volume has been increasing, setting a target of over $1 for the following weeks.

One of the most optimistic predictions came from SlumDOGE Millionaire. The X user told their nearly 400,000 followers on the social media platform that ADA could hit at least $10 in 2025.

It is important to note that such a price explosion would require the assets market capitalization to soar to over $350 billion. As of the moment, this seems quite implausible, considering that the current figure stands below $30 billion. 

Grayscales Potential Effect

A major factor that could positively impact the tokens price in the long term is Grayscales possible approval of its application to launch a spot ADA exchange-traded fund (ETF) in the US. 

The investment vehicle (if it receives the necessary green light) will provide people with a regulated and accessible way to gain exposure to Cardanos native token without needing to hold the asset directly.

The US SEC, under its new management team, has already started taking a different approach toward the cryptocurrency sector, and an approval wouldnt be considered a surprise. According to Polymarket, the odds of such a development seeing the light of day before the end of the year are 58%.