The Cardano (ADA) price is set to finish 2024 around $0.85. This is a significant drop from its early December peak of $1.30. However, it has still seen almost three times the value compared to its pre-US election levels. This sets the stage for potential explosive movements in 2025.
Cardano’s Quiet Start to 2025
As we enter 2025, ADA is expected to begin with a subdued tone. It has been stuck in a short-term downtrend since its recent highs. Despite this, the $0.80 support level has remained intact. However, the price risks remain tilted towards the downside in the near term.
Price Risks and Potential for Upside Movement
While the near-term outlook suggests further downside, the long-term fundamental outlook for Cardano is still strong. The price could surge at any moment due to positive developments in the blockchain space.
Major Upgrades and Developments for ADA in 2025
Charles Hoskinson, the co-founder of Cardano, recently shared exciting updates about ADA’s future. He mentioned key developments such as Bitcoin DeFi, Midnight, Patnerchains, and DApp upgrades. These innovations, along with a mysterious element he refers to as “the fire rises,” suggest that 2025 will be a transformative year for ADA.
Cardano’s Potential as a Bitcoin DeFi Chain
One of the major factors that could drive ADA’s price up is its pivot towards becoming a leading Bitcoin DeFi chain. As Bitcoin potentially rises in 2025, Cardano stands to benefit from the increased demand for the asset, positioning itself as a key player in the market.
Crypto Market Trends and Political Shifts Supporting ADA
The political landscape in the US has also shifted. Trump’s election victory led to a surge in crypto markets, with many expecting a pro-crypto administration. This shift could be particularly advantageous for Cardano, which has struggled with regulatory uncertainty in the past.
A Bright Future for Cardano in 2025
There is speculation that Charles Hoskinson might become an advisor to the White House, providing ADA advocates direct access to the President. This could signal a positive future for Cardano in 2025, with many anticipating a new era of growth for the crypto market.
Cardano Price Predictions for 2025: How High Could ADA Go?
If Cardano’s price repeats its 2021 performance, it could potentially reach new highs. In 2021, ADA peaked above $3 and nearly hit its 2.618 Fibonacci extension. If it matches that performance in 2025, ADA could rise as high as $8.
Caution Advised: On-Chain Metrics Need Improvement
Despite its potential, Cardano investors should remain cautious. According to DeFi Llama, only $440 million is locked in Cardano’s smart contracts. This is a small fraction compared to other chains like Ethereum and Solana. If Cardano is to maintain its position as a leading altcoin, it will need to accelerate its on-chain adoption in 2025.
The post Cardano Price At Risk of Further Downside, But Could It Recover in 2025? appeared first on Cryptonews.
