The founder of Cardano, Charles Hoskinson, has presented ambitious price predictions for the ADA token and discussed the importance of community support.
Cardano’s Roadmap and Community Discussions
Charles Hoskinson stated that the potential rise in ADA price could reach $3, $5, or even $10 if Input Output Global successfully executes its roadmap. However, he emphasized the importance of active community support.
Community members have questioned how the process could be considered complete without full scalability. Additionally, concerns regarding Cardano’s governance model and funding structure have increased. Hoskinson criticized community demands for decentralized decision-making, arguing that this approach could harm developers in countries with high living costs.
Meanwhile, the Cardano team is working on a Bitcoin bridge and plans to integrate Bitcoin support into the Lace wallet. This development will enable Bitcoin-based DeFi applications to run on Cardano, enhancing interoperability and further expanding the ecosystem.
Increased Likelihood of ETF Approval for ADA
Currently, the probability of a U.S. exchange-traded fund (ETF) being approved for ADA has risen from 20% to 55%. Grayscale has submitted a proposal for a spot Cardano ETF to the New York Stock Exchange, and the U.S. Securities and Exchange Commission (SEC) has officially accepted the application. However, approval is still pending.
Current Market Positions of ADA
ADA is currently trading at $0.7241, having risen over 3% in the last 24 hours. If ADA can maintain this level, the next resistance point will be $0.764, with the next target being $1. However, if the price dips below $0.70, retests of $0.674 and $0.60 may be anticipated.
Charles Hoskinson continues to emphasize the importance of community support to achieve Cardano's ambitious goals, while the current market situation shows positive trends for the ADA token.
