Cardano (ADA) is gaining renewed momentum after outperforming top rivals Ethereum (ETH) and Solana (SOL) in recent price performance. Rising investor activity and key network developments have helped ADA reclaim attention in the competitive altcoin space.
Data shows that ADA has delivered stronger gains than ETH and SOL over the last 12 months, signaling increased market support. The token still maintains stiff support at the upper price line, and the current prices between 0.55 and 0.50 are being closely monitored as a guarding force.
If this support area holds, analysts are convinced that ADA will shift towards the 2.40 level within the next few sessions. There is increased market interest in Cardano, and its 24-hour trading volume reached over $600 million just recently.
The token has also registered an 87 percent positive sentiment and is ranked among the 10 most bullish crypto communities globally.
Source: Bitcoinsensus
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Coinbase Integration and New Treasury Proposal Fuel ADA’s Climb
Coinbase has added further momentum by launching Wrapped ADA (cbADA) on the Base network. This launch enables easier integration of ADA into the broader DeFi ecosystem and opens up new trading opportunities.
Shortly after, decentralized exchange Aerodrome confirmed support for cbADA, potentially boosting transaction volume even further.
In a second major development, Cardano founder Charles Hoskinson has suggested establishing a decentralized sovereign wealth fund based on part of the blockchain’s treasury.
Under the proposed scheme, a $100 million secure sell-down of ADA will be used to buy Bitcoin and stablecoins. The treasury has about 1.8 billion ADA, which has a value of up to 1 billion dollars.
The specifics of this suggestion will be available at the Rare Evo conference, which will run between August 6 and 10 in Las Vegas. Market observers think that the fund can support ADA and make it more usable in the coming years.
With strong technical support, increased exchange activity, and growing ecosystem developments, Cardano is beginning to stand out again. Its recent surge ahead of Ethereum and Solana underlines the growing attention now returning to the ADA ecosystem.
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