Cardano’s Price Surge: Is $1 a Laughable Dream or a Real Possibility? 🤔💰

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So, the Cardano price (ADA) has decided to throw a little party, hasn’t it? It’s up nearly 10% in the past 24 hours, which is like, whoa! 🤯 This little spike was thanks to a bunch of short sellers getting a rude awakening, with $2.98 million in short positions being wiped out. Ouch, that’s gotta hurt. 😬

Right now, ADA is chilling at around $0.628, and this little boost has given traders and analysts a serious confidence boost. Like, they’re suddenly all, “Maybe, just maybe, Cardano could actually make a move and climb the market cap ranks.” 🚀

The real kicker? It’s all thanks to some big institutional investors showing some love, and Bitcoin‘s recent flex past its June high. It’s like when your best friend gets a promotion and suddenly everyone wants to be your friend too. 🤷‍♀️

If this buying momentum keeps up, Cardano might just test its immediate resistance level near $0.70. And hey, some experts are even saying it could hit the $1 mark by the end of July. Spoiler alert: I’m not holding my breath, but a girl can dream, right? 🤞

What’s Strengthening Cardano’s Fundamentals?

Cardano is looking more bullish than ever, with its market cap hitting $22.11 billion and a 42.43% jump in trading volume to $1.09 billion. The platform’s long-term vision as a smart contract solution is really starting to pay off, and it’s got the institutions all hot and bothered. 🌞

And let’s not forget the strong institutional backing Cardano has received. It’s now the third-largest holding in Grayscale’s Smart Contract Platform Fund, which has nearly $3.5 million in AUM. That’s like being the cool kid in a room full of cool kids. 🤩

At the end of the day on 7/3/2025, Grayscale Smart Contract Fund’s Components were a basket of the following assets and weightings.$ether $SOL $ADA $SUI $AVAX $HBAR

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— Grayscale (@Grayscale) July 7, 2025

Notably, Cardano makes up almost one-fifth of this fund, at an impressive 18.57%. That’s a solid chunk, trailing only behind Ethereum and Solana. This allocation sends a clear message: Grayscale thinks Cardano is a big deal in the smart contract game. 🎉

Is ADA Price $1 Rise On Horizon?

On the technical front, the ADA price on the daily chart is looking pretty strong. If it can hold above the $0.70 resistance level, it might just break out of that declining range. A daily close above this mark would be a big deal, signaling a breakout from a multi-month declining wedge. 📈

Currently, ADA has broken through the $0.60 level, supported by the swing low from April. If the buying momentum keeps up, and with that strong institutional backing, there’s a real chance for a significant rise toward the $1.00 mark. Fingers crossed, and maybe a little prayer wouldn’t hurt. 🙏

And just to add a cherry on top, experts are pointing out that ADA has formed a powerful long-term signal: the Golden Cross on the weekly chart. This is a historic moment for Cardano, indicating potential for even more growth in the future. So, who knows? Maybe $1 isn’t just a pipe dream after all. 🌈

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2025-07-10 17:41