Here’s Why the Cardano (ADA) Price Could Spike This Week – Crypto News – Crypto News
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Here's Why the Cardano (ADA) Price Could Spike This Week Here's Why the Cardano (ADA) Price Could Spike This Week

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Here’s Why the Cardano (ADA) Price Could Spike This Week – Crypto News

Published

1 month ago

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TL;DR

  • Speculation is growing that Gemini may soon list ADA, as hinted by co-founder Tyler Winklevoss.
  • If confirmed, this could boost liquidity and drive price momentum for Cardano’s native token.

ADA Rally on the Way?

Cardano’s native cryptocurrency was at the forefront of gains at the start of March when US President Donald Trump confirmed work on a strategic crypto reserve that will include ADA, among other assets. 

The price surpassed $1.10 at one point, but the peak was short-lived and replaced by a substantial correction. In the following days, ADA has been on an evident downtrend, and as of this writing, it trades at approximately $0.73 (per CoinGecko’s data).

ADA Price
ADA Price, Source: CoinGecko

One factor that may invalidate (at least temporarily) the bearish trend is additional adoption from leading cryptocurrency exchanges. There have been increased rumors that the latest platform to allow trading services with ADA will be the US-based Gemini.

Tylor Winklevoss (one of the company’s co-founders) recently hinted that ADA might be listed on the exchange. Such a development would increase the token’s liquidity and accessibility and may spark upward pressure on the price. 

Earlier this month, Gemini prepared the community for big news that is about to be announced as early as this week. It later set Thursday (March 13) as a specific date.

The majority of X users commenting on the post believe the listing of Cardano’s native cryptocurrency will be the upcoming development. 

Gemini is among the few crypto behemoths that are yet to embrace ADA. Those that have hopped on the bandwagon over the past several years include Binance, Coinbase, Kraken, Bitget, OKX, Upbit, and many more.

‘No Point in Selling Here’

Numerous market observers have described ADA’s price retreat in the last week as a temporary pullback that should not be interpreted as the end of the bull run.

The X user Bitcoin Buddha recently told his almost 500,000 followers on the social media platform that Cardano’s native token currently “retests the key support, which is a bullish sign for recovery.”

“I am keeping an eye on this scenario just because of Trump’s reserves announcement. Cardano will hit hard once the market bounces back. Patience, no point in selling here,” they added.

 

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