Cardano: From ‘Ghost Chain’ to 20% Price Spike
Cardano (ADA) has once again captured the spotlight with a remarkable 20% surge in its price, leaving both skeptics and enthusiasts intrigued. Dubbed a ‘ghost chain’ by critics in the past, the altcoin is now proving its utility and resilience in the highly competitive crypto market. But why is ADA gaining momentum, and what could this mean for its future trajectory?
The Buzz Around Cardano’s Leios Upgrade
One significant factor contributing to ADA’s surge is the progress on its anticipated Leios upgrade—a long-term project stretching into 2026. According to updates shared by Input Output Global (IOG), the team behind Cardano, the main improvement proposal is already 67% complete, while the technical design has reached 46%. These advancements are positioning Cardano to achieve its ambitious goal of 1,000 transactions per second, alongside the rollout of a testnet.
Leios signifies a comprehensive development phase aimed at expanding Cardano’s scalability and efficiency. For ADA holders and investors, the clarity and measurable progress instill confidence that the platform is evolving steadily, creating long-term value.
Grayscale’s Portfolio Boosts ADA’s Credibility
Another notable development is the inclusion of ADA in Grayscale’s Smart Contract Fund, where it now holds an 18.55% share. This places Cardano just behind key players such as Ethereum (29%) and Solana (29.55%), further enhancing its credibility as a long-term investment in smart contract platforms. This rebalancing by Grayscale has increased exposure to institutional investors, which significantly impacts market confidence in ADA.
Analyzing Market Momentum: Can ADA Sustain Its Rally?
Over the past week, ADA experienced a strong price rally, nearing the $0.40 mark after climbing from the mid-$0.30s. Market activity remains vibrant, with healthy volumes indicating active trading. However, technical indicators suggest caution; the RSI hovers around the neutral 50, and the CMF (Chaikin Money Flow) has slipped slightly below zero, signaling a slowdown in capital inflows. This means that while ADA’s current rally seems solid, its ability to sustain this momentum remains uncertain amidst growing selling pressures near the $0.40 resistance zone.
Looking Ahead: Is ADA a Buy?
With the Leios upgrade reflecting tangible progress and Cardano’s inclusion in high-profile portfolios like Grayscale, the cryptocurrency has reinforced its position as a strong contender for the future of blockchain technology. However, given the inherent volatility of the crypto market, potential investors should exercise caution and conduct thorough research before making any decisions.
For those looking to track ADA’s progress or expand their cryptocurrency portfolio, Ledger Nano X, a trusted hardware wallet, provides a secure way to manage digital assets like Cardano. Ensure your investments are protected while staying on top of the crypto market!
