Cardano (ADA) Eyes 46% Gains After $70M Upgrade Funding Approved

Cardano (ADA) is gaining renewed attention as the blockchain’s community recently approved a $70 million funding allocation to accelerate key upgrades over the next 12 months. The move, which marks a first in the project's history by directly involving stakeholders in core development funding, has bolstered bullish sentiment among investors [1]. The funds will be used to enhance scalability through Ouroboros Leios, Hydra, and Mithril, while also advancing cross-chain interoperability under Project Acropolis. These developments are expected to improve the platform’s competitiveness and utility for developers, thus expanding ADA’s use cases and demand [1].

The approval has triggered a short-term bullish momentum for ADA. On the 4-hour chart, the cryptocurrency has formed a bull flag pattern, with the key breakout level currently at $0.75. If successfully breached, this could open the path to resistance levels at $0.84 and $0.94, with a potential 46% gain if the price reaches the pattern's target of $1.10 [1]. Technical indicators such as the RSI and MACD line also support a near-term upward trend, although the flattening histogram suggests momentum may be slowing [1].

While the macroeconomic climate remains bearish—marked by U.S. inflation concerns and delayed Federal Reserve rate cuts—ADA's trajectory is being closely watched for a potential $10 price target within months. A critical catalyst in the coming months could be the approval of a Cardano spot ETF, which has a high chance of being approved by October [1]. If realized, this would bring traditional finance (TradFi) liquidity into the ADA market, potentially accelerating price discovery and adoption.

At the same time, speculative momentum in the broader altcoin space continues to be driven by retail sentiment. Meme coins and so-called “mission coins” like Token6900 are attracting attention for their community-driven narratives and high-yield staking opportunities, though they remain highly volatile and lack fundamental utility [1]. These tokens are often fueled by social media hype rather than technical developments, creating a stark contrast with ADA’s institutional-grade upgrades.

The approval of the $70 million treasury plan is being seen as a milestone in Cardano’s evolution, demonstrating the project’s commitment to decentralization and long-term development [1]. As the network prepares for its next phase, the focus will remain on the success of its technical roadmap and how it translates into on-chain activity and developer engagement. The coming months will be crucial for gauging whether the bullish price projection of $10 for ADA can materialize, particularly with the potential launch of a spot ETF acting as a catalyst for broader adoption [1].

Source: [1] Cardano Price Prediction: Treasury Approves $70 Million Network Upgrade Plan – $10 ADA Just Weeks Away? (https://cryptonews.com/news/cardano-price-prediction-70m-network-upgrade-plan-approved/)