Bitcoin News Today: Cardano Price Surges 10% on $71M Upgrade and Airdrop Boost

Cardano and Bitcoin have both experienced notable price increases in recent days, drawing significant attention from investors and analysts. Cardano (ADA), currently ranked as the tenth-largest cryptocurrency by market capitalization, has seen its price rise nearly 10% over the past week, trading just below $0.80. The coin’s market value now exceeds $28 billion, supported by a trading volume of $1.28 billion. Analysts attribute this growth to a $71 million upgrade and a recent airdrop that has attracted new users to the platform [8].

Cryptocurrency analyst Martinez has drawn comparisons between Cardano’s current price structure and its previous cycle, suggesting that the coin may be at the beginning of a potentially explosive movement. He has projected a short-term target price of $7 for ADA, noting that the recent performance of XRP, which has surpassed $3, makes this target more plausible [3]. While these forecasts remain speculative, they have contributed to a broader sense of optimism in the market.

Bitcoin, the leading cryptocurrency, has also shown strength, trading near $118,500 and acting as a key driver of risk appetite in the broader market. Analyst Michael Poppe acknowledges the recent upward movement but cautions that the weekend rally may reverse on Monday, particularly as the market seeks to close the CME gap. Despite this, Poppe remains cautiously bullish, noting that the long-term trend for Bitcoin remains robust and that the conditions are favorable for further growth over the coming months [9].

The broader market has also benefited from a shift in sentiment, particularly regarding U.S. regulatory developments. Donald Trump, now expected to remain in power until 2028, has adjusted his stance on cryptocurrencies, integrating altcoins like ADA into a national crypto reserve program. This change has alleviated some of the regulatory pressure that previously weighed on U.S.-based crypto ventures, contributing to the positive momentum seen in the market [3].

While Cardano and Bitcoin are at the forefront of this upward trend, other projects such as Chainlink (LINK) are also gaining traction, with analysts forecasting a potential rise to $25–$28 due to increased demand for oracle services [2]. However, it is important to distinguish between actual price movements and analyst projections. While Cardano has rebounded from $0.70 to $0.78, forecasts of reaching $1.50 or higher remain speculative [4]. Similarly, while some experts suggest that ADA could reach $4 by 2025, others argue that alternative tokens may offer more significant returns [6].

The overall crypto market appears to be positioning itself for a potential bull run, driven by increased institutional interest, strong spot trading volumes, and the possibility of an altseason. As investors continue to monitor developments, the coming weeks will be critical in determining whether these optimistic forecasts are realized or if the market faces a correction. Regardless of the outcome, the current environment remains one of the most dynamic and promising in recent years [9].

Sources:

[2]title2...(https://www.ainvest.com/news/cold-wallet-projects-4900-return-cardano-chainlink-gain-momentum-2508/)

[3]title3...(https://www.fastbull.com/news-detail/cardano-attracts-new-users-after-glacier-drop-airdrop-news_6100_0_2025_3_7055_3/6100_ETH-USDT)

[4]title4...(https://www.mitrade.com/insights/news/live-news/article-3-1026209-20250809)

[6]title6...(https://crypto-economy.com/analysts-name-two-altcoins-with-50x-potential-set-to-outpace-cardano-ada-by-2025/)

[8]title8...(https://blockchain.news/news/20250809-cardano-ada-holds-strong-above-080-as-bulls-eye)

[9]title9...(https://www.bitget.com/news/detail/12560604904122)