Market analysts predict a substantial increase in Cardano’s price, with expectations reaching $2.90 based on speculation surrounding the potential for an ETF approval. This prediction is fueled by market optimism spurred by Donald Trump’s pro-crypto stance, though no official confirmations from Cardano have been made. While initial price surges to $0.80 from $0.68 are observed due to increased volume and trading interest, analysts remain cautious as the lack of official regulatory statements from both Cardano and the SEC concerning ETF proposals creates a cautious optimism.
Analyst Javon Marks highlights a potential rally for ADA to reach $2.90, with immediate effects including a rise in ADA price by over 14%. This surge is attributed to the market’s anticipation of an ETF approval, coupled with heightened trading activity and increased interest in crypto due to Donald Trump’s visible support for the sector.
While these developments are already fueling increased speculative trading and derivatives interest, financial implications remain unclear.
However, despite existing regulatory uncertainty and the absence of new SEC filings for ADA ETFs, potential ETF approval could have a significant impact on market sentiment, especially for major cryptocurrencies like ETH and BTC. Experts note that historical trends following ETF approvals suggest sector-wide buying, but until official regulatory confirmations are received, the full extent of this impact remains uncertain.