Cardano (ADA) has marked an impressive recovery this November, regaining much of its lost value after a difficult year. Following a difficult 2024 that saw ADA decline more than 40% through October, recent developments and market conditions have catalyzed a resurgence. Adding to the momentum, rumors surrounding Cardano founder Charles Hoskinson and his possible role in a new US administration are key, which has increased interest in the cryptocurrency.
Currently trading near $0.5888, Cardano's outlook appears optimistic. In fact, AI-powered projections suggest potential gains of over 100% by March 2025.
Trump-Hoskinson Rumor Could Boost Cardano Price
Recently, rumors have circulated about Hoskinson's possible involvement in a new Trump administration, fueling speculation about Cardano's future in the crypto policy landscape.
During a recent YouTube livestream, Hoskinson revealed that Input Output Global (IOG) is preparing to launch a dedicated policy division by January 2025.
The office will engage with lawmakers to advance pro-crypto legislation, particularly focusing on bipartisan initiatives such as the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Responsible Financial Innovation Act (RFIA). Hoskinson anticipates that these efforts will clarify regulatory boundaries, especially around classifications of securities and commodities, and support the growth of the decentralized finance (DeFi) sector without regulatory hurdles.
Key Factors Driving Cardano Price Recovery
Another crucial factor behind Cardano's resurgence is the recent record-breaking performance of Bitcoin (BTC), which has created a favorable environment for altcoins like Cardano. This Bitcoin rally has reignited interest across the cryptocurrency market, allowing Cardano to gain traction. According to data from Santiment, Cardano's rise is due to a combination of increased network activity and whale transactions.
Specifically, with 37,892 unique addresses making transfers in a single day and 697 transactions valued at over $100,000, ADA is experiencing its highest levels of activity since September. This increase in both retail and large-scale investor interest, coupled with a technical break above the $0.43 level, signals strong upside momentum. This momentum effectively aligns with the overall market rally, suggesting that ADA's resurgence is part of renewed confidence in the crypto space.
AI Forecasts on the Possible Rise of Cardano: Could ADA Hit $1?
Given the combination of favorable market conditions, strategic positioning, and growing institutional interest, Finbold consulted ChatGPT-4 to assess Cardano's growth potential. According to AI models, Cardano could potentially double in value to $1 by March 2025 if whale activity remains strong and positive regulatory developments continue to support its upward trend.
If the overall market remains favorable and Cardano's policy initiatives are successful, ADA could solidify its position in the crypto landscape, possibly reaching new heights as a leading DeFi player within the Bitcoin ecosystem. It is essential to note, however, that cryptocurrency markets are highly volatile, and actual prices may differ from predictions. Therefore, investors should conduct extensive research and consider multiple factors when evaluating potential investments.
