Majority of crypto investors are bullish on Cardano (ADA) amid Cardano-Bitcoin DeFi announcement but price is stable enough

1 month ago 5

Despite bullish sentiments, the trade price of the $ADA coin remains stable. Some experts believe a major rally could soon occur, while others view it as a “stablecoin” due to its steady price.

Cardano is a popular Proof-of-Stake (PoS) blockchain network known for its unique development strategy, which avoids hype or trends, focusing instead on the practical evolution of blockchain technology.

Recently, Cardano collaborated with BitcoinOS to enable seamless cross-chain transactions between the Cardano and Bitcoin networks. In short, Bitcoin trading is now available on DeFi exchanges within the Cardano ecosystem.

This development has fueled bullish sentiment among Cardano and crypto enthusiasts, as evidenced by a sudden increase in the trading volume of Cardano’s native token, ADA.

Popular crypto analyst Ali shared his analysis of Cardano, noting that ADA is currently following a similar pattern to 2020. If history repeats, a price pump could be seen around November 18, potentially aligning with the final stages of the US presidential election.

I believe #Cardano $ADA is following a similar pattern to 2020. If history repeats, we might see a pump around November 18—about two weeks after the US elections—and a potential market top by September 2025. pic.twitter.com/GgKWBqzYXU

— Ali (@ali_charts) October 29, 2024

Notably, enthusiasm for Cardano extends beyond ADA holders, as it was mentioned by X (formerly Twitter) users nearly 800,000 times over the last 30 days, according to TapTools.

Crypto enthusiasts have noted a growing conversation between Cardano and Bitcoin communities, further emphasising Cardano’s increased presence.