- Cardano (ADA) has outperformed Ethereum (ETH) and Solana (SOL) over the past year.
- Coinbase launched Wrapped ADA (cbADA) on the Base network, expanding ADA’s DeFi footprint.
- A new $100 million ADA treasury proposal is set to be detailed at the Rare Evo conference in August.
- ADA’s trading volume has surpassed $600 million with strong investor sentiment.
- Analysts see a path to $2.40 if current support holds.
Cardano (ADA) is once again capturing investor attention after outperforming two of its biggest competitors, Ethereum (ETH) and Solana (SOL), in recent price performance. With solid technical support, renewed community engagement, and a strategic push from Coinbase, ADA is reclaiming a strong position in the altcoin race.
Cardano Outpaces ETH and SOL in Market Momentum
Recent data reveals that ADA has delivered higher 12-month gains compared to both ETH and SOL, highlighting growing investor confidence. The current price range between $0.50 and $0.55 is acting as a crucial support zone. If ADA maintains this level, analysts anticipate a potential push toward the $2.40 price target in upcoming sessions.
Additionally, Cardano’s 24-hour trading volume recently topped $600 million, underscoring heightened market activity. With 87% positive sentiment, ADA has also ranked among the top 10 most bullish crypto communities globally, according to Bitcoinsensus.
Also Read: Cardano Price Prediction: ADA Eyes a 60% Surge Despite Ecosystem Woes
Coinbase Launches Wrapped ADA on Base Network
A key catalyst for Cardano’s latest surge is Coinbase’s introduction of Wrapped ADA (cbADA) on the Base network, significantly expanding ADA’s presence in the DeFi landscape. This integration opens the door for more DeFi trading options and broader liquidity access for ADA holders.
Shortly after this move, Aerodrome, a decentralized exchange on Base, confirmed support for cbADA, further validating its role in the ecosystem and potentially boosting transaction volumes.
[Add an external link to Coinbase or Aerodrome’s cbADA announcement for credibility.]
Charles Hoskinson Proposes $100M Treasury Initiative
In a separate development, Cardano founder Charles Hoskinson floated a bold idea to enhance ADA’s long-term value—a decentralized sovereign wealth fund. The proposal outlines using $100 million in ADA from the blockchain’s treasury to purchase Bitcoin and stablecoins, thereby diversifying assets and increasing stability.
With 1.8 billion ADA in the treasury—estimated to be worth nearly $1 billion—this proposal could significantly reshape ADA’s financial strategy. More details will be presented at the Rare Evo conference in Las Vegas, scheduled for August 6 to 10.
A Bullish Future for ADA?
As Cardano continues to gain technical strength and ecosystem traction, its recent leap ahead of Ethereum and Solana could signal a new growth phase. With Coinbase backing cbADA, a strong support zone in place, and an innovative treasury proposal on the horizon, ADA appears well-positioned for further upside.
