We Just Bought 2,734 ADA, What No One Sees About Cardano

Over the last month, ADA triggered a signal that most traders completely missed, but whales didn’t. It’s a combination of on-chain momentum and developer growth that doesn’t happen often. During that same timeframe, Cardano’s ecosystem also has seen a series of developments. Most investors completely overlooked this. 

That’s exactly why we bought 2,734 ADA. In this video, I’ll show you the data, the charts, and the signals that made us take this position in Cardano.

What’s Cooking at Cardano (ADA)

Cardano (ADA) tends to remain in the spotlight all year long. A big part of this also comes down to its charismatic CEO, Charles Hoskinson. Among others, he was a co-founder of Ethereum. But let’s concentrate on some recent news flashes that came out of the Cardano camp.

ADA ETF Approvals

There are various ETF approvals queueing at the SEC. Among others, Grayscale filed an ADA ETF. The SEC pushed the final decision on this ETF back to October 26th. This allows them more time to review the application. However, there’s strong investor anticipation of a Cardano spot ETF approval. This could boost demand significantly.

As a result, we saw a 5% increase in ADA’s price on October 5th and 7th. This pushed its price close to 90 cents. To clarify, in-between the price also dropped again. There are good reasons to expect a positive outcome. First, there’s Polymarket, that predicts a positive outcome by 93%. This is a prediction betting platform. 

However, we also saw that the SEC asked various ETF issuers to withdraw their 19b-4 filings. The Cardano ETF was part of that. This indicates that there can be a faster approval process. If it wasn’t for the US Government shutdown. As long as that lasts, the SEC works at snail’s speed. 

Staking on Cardano

Staking ADA became an option in July 2020 with the Shelley update. However, we now see two new and recent staking updates. One is eToro that now offers staking ADA in the US. eToro has around 40 million users in the US. So, that’s a massive boost.

Another update about staking on Cardano is stablecoin staking. This removes the volatility that staking crypto assets brings. The Cardano treasury plans to boost liquidity with 50 million ADA. This includes, among others, stablecoin liquidity. This is part of the Stablecoin DeFi Liquidity Budget proposal. Currently, around 57% of all ADA is staked.

Cardano Summit 2025

The Cardano summits are each year among the highlights of the Cardano community. You can expect new announcements and project launches. It’s a great opportunity to connect with the Cardano community and its projects. This year, it takes place in Berlin, Germany, between November 11th and 13th.  

Glacier Airdrop Update

The Glacier Airdrop claiming period saw a 16-day extension period. So, instead of finishing October 4th, it will now finish on October 20th. This is to resolve wallet and hardware compatibility issues.

What Is Cardano?

I have covered Cardano a lot recently. So, it’s easy to forget what Cardano all is actually about. So, let’s do a quick refresher on what Cardano is. Well, back in 2015, Charles Hoskinson founded Cardano. The ADA ICO (Initial Coin offering) was in 2017 and raised no less than $60 million. Its price was a quarter of a cent. That’s a 350x from its current price of 85 cents. However, that’s also a 1287x to its ATH of $3.09. 

The first version of the Cardano chain launched in September 2017. Since then, it has seen various upgrades. What makes Cardano unique is its peer-reviewed academic research. This means a formal and staged roadmap.  Cardano also uses a unique Hard Fork Combinator technology for seamless transitions. The network is currently also in transition. It’s moving towards a fully decentralized governance model, giving control to ADA holders. 

Orouboros

Its consensus mechanism is also unique. Such a mechanism agrees on the validity of transactions. It also agrees on the state of the shared ledger without a central authority. Such a mechanism also ensures, for instance,

• Security
• It prevents dishonest behavior
• And it guarantees that all nodes in the network maintain a single, consistent version of the data. It does this by providing rules for adding, changing, or deleting information. 

The Cardano consensus mechanism goes by the name of Ouroboros. This is the first provably secure Proof-of-Stake (PoS) protocol. It addresses the weaknesses of earlier consensus mechanisms. For example, it combines cryptology, game theory, and mathematical proof. Thus, it provides a robust, sustainable, and scalable solution.

The way it is set up, the Cardano blockchain is theoretically infinitely scalable. This was part of the Ouroboros Leios upgrade. it also offers parallel transaction approval. This means that it can approve various transactions at the same time.

Why Did We Buy 2734 ADA?

Let’s start with a quick TA or Technical Analysis. The current ADA price is 85 cents. In early November 2024, the price jumped from 33 cents to $1.23 in only one month. That’s a 3.7x. 

So, let’s take those 33 cents as support. It doesn’t look like ADA is going back there any time soon. At the same time, we can take the $1.23 from December 7th, 2024 as resistance. After early March, earlier this year, ADA didn’t breach the $1 mark. So, that’s a good goal.

However, its ATH is $3.09 from 4 years ago. That’s a 3.6x from where it is now. But we also shouldn’t forget the size of Cardano’s market cap. That’s no less than $31.5 billion. So, there’s not that much room for growth. Nonetheless, there still is enough room for growth. That’s why we bought 2,734 ADA.

ADA Millionaire

So, 2,734 ADA is currently worth $2,332. But what if I turn this around, and take a look at what price, I can become an ADA millionaire?

With the current price of 85 cents, I will need 1,176,470 ADA to become a millionaire.

If I take the $1.23 resistance level, that will require 813,008 ADA to be that millionaire.

With a push above 96 cents, Ali Martinez on X believes that ADA can hit a $1.90 price tag. Now you need 526,316 ADA to have 7 figures in your bank account.

Unichartz eyes $2.18 and $3.10. That’s respectively 458,716 and 322,580 ADA for that millionaire status.

Kyren on X sees a $4 price tag for Cardano. So, now you need 250k ADA to join the millionaire ranks.

That’s also about as good as it can get with Cardano. $4 is already pushing the boundary, imho. So, what’s the best price you expect for Cardano this cycle? Let me know in the comments and make sure to join our discussions on X and Discord.

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