Bitcoin News Today: Cardano Climbs 6.8% Toward $1 Amid Treasury Boost and Analyst Forecasts

Cardano (ADA) has been trending closer to the $1 level, sparking renewed interest among investors and analysts. The cryptocurrency, which dipped near $0.69 in early August, has since rebounded to around $0.73, fueled in part by a $70 million treasury allocation aimed at supporting projects like the Midnight sidechain and developer upgrades [1]. Analysts speculate that if ADA manages to break above the $0.80–$0.85 resistance zone, it could push toward $0.96 by late August, with potential short-term targets between $1 and $1.50 if buying pressure remains strong [1]. Long-term forecasts, based on the anticipated rollout of upgrades such as the Chang hard fork and Hydra scaling, suggest ADA could target $3 by the end of 2025 [1].

Meanwhile, Hyperliquid (HYPE) is showing signs of recovery after a recent 17% correction in early August, which brought its price down to the $35–$38 range. The token had surged to nearly $49.80 in July, supported by record-breaking $320 billion in trading volume and a dominant 75% share in decentralized exchange (DEX) perpetuals [1]. Analysts are watching the $31.50 support level closely, as a breakdown could lead to further declines. However, derivatives data indicates a slight rise in bullish positioning, hinting at potential for a rebound into the $40–$48 range in August. More optimistic models project HYPE could reach $50–$72 by year-end, with some suggesting even higher targets above $90 if market conditions remain favorable [1].

In a more innovative development, BlockDAG (BDAG) is redefining the traditional presale model by introducing a competitive element. The project's presale includes a 10 BTC prize pool that participants can earn through active trading simulations using the TRADEBDAG-enabled Dashboard. Each purchase of BDAG not only secures tokens but also increases the buyer’s share of the Bitcoin prize. As of now, over $369 million has been raised in the presale, with 24.9 billion coins sold. BDAG is currently priced at $0.0016 until August 11, 2025, after which the price is expected to rise significantly. Early investors have already seen 2,660% growth since the first batch, and the project aims to reach a total target of $600 million if all upcoming batches are completed [1].

This approach diverges from most presales, where participants typically wait for exchange listings. BlockDAG’s interactive model offers a gamified experience where users can learn trading strategies while competing for real Bitcoin rewards. The 10 BTC prize pool remains active until the presale’s end date, creating a direct incentive for increased participation and token purchases [1].

The convergence of these developments—ADA’s potential price movement, HYPE’s market resilience, and BDAG’s innovative incentive structure—highlights the dynamic nature of the cryptocurrency market. Investors are closely watching these assets for signs of broader momentum and potential breakout opportunities in the coming months.

Source: [1] Cardano Nears $1, HYPE Eyes $48, & BlockDAG Offers 10 BTC Prize (https://coinmarketcap.com/community/articles/6898c3269af91a539f4388e4/)