Cardano Price Eyes New Highs as eToro Staking Launches
Cardano price is showing promising signs, with analysts keeping a close eye on the $0.75 to $0.80 zone. eToro's launch of Cardano staking in the U.S. could expose over 40 million users to ADA, potentially driving it to new all-time highs by year-end.
ADA has been steadily climbing throughout the year, maintaining its bull market support band on the weekly chart. This consistent performance suggests a strong, healthy trend. Recent developments, such as the launch of staking on eToro, could further boost demand by reducing liquid supply. Cardano price is currently trading within an upward channel, indicating a potential move back above $0.80.
Key institutions like the Cardano Foundation, IOHK, and Emurgo are driving Cardano's progress. Their efforts in research, blockchain upgrades, partnerships, and ecosystem growth are crucial for its future price potential. Despite mixed signals in broader crypto markets, Cardano has been gaining momentum, making it an attractive investment opportunity.
With its ecosystem growth and consistent developer activity not fully priced in, Cardano remains undervalued. The upcoming staking feature on eToro and the continued development by key institutions could drive Cardano's price higher, potentially setting new all-time highs before the year ends.
