The ADA token of the Cardano platform is drawing attention due to recent developments and forecasts. Let's explore the key events and trends influencing its price.
Cardano Connects with Bitcoin
Cardano has established a connection between its blockchain and the Bitcoin network using Bitcoin OS technology. This solution allows users to securely move Bitcoin between networks while avoiding potential risks associated with bridges. This integration also opens up opportunities for lending and staking Bitcoin on the Cardano blockchain, which could attract more users and investments into the ecosystem.
Launch of Midnight Sidechain and Glacier Airdrop
Cardano has announced the launch of a new sidechain called Midnight, which will feature privacy capabilities and support private smart contracts, appealing to many financial institutions. One of the most anticipated events is the Glacier Airdrop, in which over 24 billion NIGHT tokens will be distributed to 37 million wallets. In order to participate in the airdrop, holders needed to keep at least $100 in ADA, Bitcoin, Ethereum, XRP, BNB, Solana, Avalanche, or BAT by June 11, 2025. Cardano founder Charles Hoskinson is expected to announce the airdrop schedule at the Rare EVO event in Las Vegas this August.
Growing Institutional Interest
In 2025, Cardano has attracted $73 million in investments from large institutions, surpassing most other cryptocurrencies. Additionally, Grayscale has filed to launch the first Cardano spot ETF in the U.S., with a decision expected in October 2025.
As of the time of writing, ADA is trading at $0.74 with a 2% gain in the past 24 hours. Experts note that the price recently tested the 200 EMA level, which is considered an important support. If the current trend continues, the next target for ADA could be $1.50.
