Cardano’s fractal pattern points to a potential 2,288% gain by 2025, starting with a breakout in November.
Hoskinson envisions Cardano powering a nation-state by 2030, with millions of users on board.
Cardano [ADA] appears poised for a potential rally as market dynamics suggest a significant move could be on the horizon. ADA traded at $0.348 at press time, representing a 3.30% increase over the last 24 hours, although it has experienced a 4.50% decline over the past week.
Crypto analyst Ali suggests that ADA’s current pattern mirrors that of 2020, indicating a potential surge starting in mid-November, coinciding with the U.S. elections.
Ali noted,
“If history repeats, we might see a pump around November 18 and a potential market top by September 2025.”
ADA’s historical patterns indicate potential upside
Cardano has shown a tendency to rally following prolonged consolidation periods. In 2020, ADA’s accumulation phase lasted 672 days, during which it dropped by -56.20%.
This was followed by a 4,095.73% surge over 324 days, suggesting the potential for similar performance if current conditions align.
Source: X
More recently, ADA experienced another accumulation phase, lasting 455 days with a -65.93% decline, before rebounding by 75.34% over 426 days.
The current consolidation phase also spans 455 days, prompting analysts to anticipate a potential gain of 2,288.92% over the next 392 days, potentially pushing the price to $6.317.
The anticipated breakout is expected to begin around November 18, 2024, extending into September 1, 2025, if historical trends continue.
Cardano’s growing TVL and on-chain activity
Cardano’s decentralized finance (DeFi) ecosystem also shows signs of growth. According to DefiLlama data, the Total Value Locked (TVL) in Cardano-based DeFi protocols is currently $218.88 million, marking a 1.58% increase in the last 24 hours.
This reflects a gradual increase in Cardano’s network usage and adoption.
Source: DefiLlama
On-chain data indicates 25,812 active addresses, suggesting consistent engagement among ADA holders. Increased activity on the blockchain could contribute to upward price momentum, particularly if the broader cryptocurrency market trends higher in the coming weeks.
Futures and options activity suggests increased market participation
Data from Coinglass reveals a substantial increase in ADA’s trading volume, futures open interest, and options activity. ADA’s futures volume surged by 184.18%, reaching $7.33 billion, while open interest increased by 37.24% to $1.33 billion.
Additionally, options volume saw a 94.94% rise, with open interest also increasing by 15.90%, reaching $819,750.
Source: Coinglass
This spike in derivatives trading indicates growing trader interest in ADA, as market participants position themselves ahead of a potential price move.
The increased activity aligns with ADA’s broader price trends, signaling potential volatility as traders seek to capitalize on expected price swings.
Read Cardano’s [ADA] Price Prediction 2024–2025
Cardano’s long-term vision for a nation-state
Moreover, Cardano founder Charles Hoskinson recently outlined an ambitious future for the blockchain during a keynote titled ‘After Voltaire: The Next Evolution of Cardano’. Hoskinson projected that Cardano could play a role in running a nation-state by 2030.
Emphasizing the blockchain’s scalability and sustainability, Hoskinson remarked, “We expect to have millions of users in Cardano’s ecosystem by then.”
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