Cardano founder Charles Hoskinson has projected significant potential growth for the Cardano (ADA) token, suggesting it could surge between 100x and 1000x in value. Hoskinson outlined a vision where ADA becomes the foundational yield layer powering decentralized finance (DeFi) applications on the Bitcoin network. According to his projections, this role could drive ADA’s price into a range of $80 to $800.
This bullish long-term outlook contrasts with ADA’s recent performance against Bitcoin. While ADA outpaced Bitcoin by 160% in late 2024, it underperformed earlier in the year. ADA has demonstrated resilience over the past months, rallying approximately 30% since June. Notably, analysis revealed a point where holdings generating a $15 billion Bitcoin market cap would have yielded a $30 billion ADA market cap, underscoring differing valuation potential.
Currently, ADA’s price is consolidating within the $0.80 to $0.90 range, an area considered a critical resistance zone. Technical indicators suggest that maintaining support at these levels could open the door for moves towards $1.00 or $1.15. However, short-term market metrics indicate some selling pressure, with ADA’s spot taker cumulative volume delta (CVD) recently turning negative.