Cardano ADA News: Analysts Predict Price Surge to $1.78, with Long-Term Targets of $3.11-$3.30

Cardano (ADA) has been gaining significant attention, with analysts predicting a price surge in the NEAR future. The altcoin, which has shown strong performance recently, is expected to reach new highs, making it a top crypto to watch out for in February.

ADA Price Prediction: Latest Cardano News As $0.01 Rival Altcoin Becomes February’s Top Crypto to Buy

Cardano (ADA) gains attention after Grayscale files for a spot ADA ETF, pushing Cardano to $0.81, though it now trades at $0.74. Analysts predict ADA could reach $1.78 soon, with long-term targets of $3.11-$3.30. Meanwhile, Mutuum Finance (MUTM) emerges as a competitor, revolutionizing DeFi lending and borrowing. MUTM's first presale phase at $0.01 is nearly sold out, making it a high-upside alternative for investors.

Cardano Founder Bullish on Ethereum and ADA, Expects Institutional Demand to Boost Prices

Cardano founder Charles Hoskinson has expressed optimism about Ethereum and his own token, ADA. He anticipates a surge in institutional demand for layer one platforms, which could potentially drive up the price of ADA. Investors are seeking bigger returns with this altcoin as they position themselves for the expected bull market.

Cardano Bulls Rejoice: Strong Move Indicates Breakout Hasn’t Failed Yet

After fluctuating over the past month, ADA is preparing to break key resistance levels, supported by positive investor sentiment and broader bullish cues. Cardano’s funding rate is currently positive, indicating dominance of long positions and trader confidence in ADA’s upward potential. This signals Optimism in the market for ADA’s future performance, despite recent market volatility and fluctuating sentiment. The positive funding rate trend suggests traders are anticipating a rally rather than a downturn.

Elon Musk to Back Cardano? Hoskinson Hints at US Crypto Adoption Plans

The market appears to be responding positively to rumors of Elon Musk potentially endorsing Cardano, with ADA experiencing a 2.85% price increase today. This follows a period of stagnation for the altcoin, which has been navigating heightened volatility. The rumors originate from a recent livestream by Charles Hoskinson, who discussed blockchain adoption within the U.S. government and championed Elon Musk's Department of Government Efficiency (DOGE) as a potential catalyst for change. Hoskinson suggested that Cardano could be involved in such conversations.