Cardano (ADA) saw an 8% increase between March 23 and March 25, once again testing the $0.76 resistance level, which has been stable for over two weeks. While it remains significantly below its March 3 peak of $1.18, traders are still hopeful for additional upward movements. This optimism is largely fueled by the ongoing initiatives of founder and CEO Charles Hoskinson, who is actively promoting the network’s strengths and ADA’s potential to key figures in traditional finance.
The spike in ADA’s price on March 3 happened after comments from former US President Donald Trump, who mentioned Ether (ETH), XRP (XRP), and Cardano on his official social media as frontrunners for inclusion in the US Digital Asset reserves. However, the executive order regarding the Digital Asset Stockpile, signed by Trump on March 7, did not outline any plans for purchasing altcoins, despite his prior assertions.
Notable Appearances at the DC Blockchain Summit 2025
A new wave of bullish sentiment for ADA arose following the announcement that Donald Trump Jr. would be a speaker at the DC Blockchain Summit 2025, which will feature a panel moderated by Charles Hoskinson.
The two-day conference in Washington, D.C., will host various notable speakers, including Governor Mark Gordon of Wyoming, Majority Whip Tom Emmer, Senators Ted Cruz and Cynthia Lummis, and Bo Hines, who serves as Executive Director of the Presidential Council of Advisors for Digital Assets.
Trump Jr. is slated to speak on March 26, alongside the co-founders of World Liberty Financial, a crypto initiative supported by Donald Trump. Launched in September 2024, this initiative has completed two public token sales, collectively raising $550 million. Recently, on March 24, it introduced a dollar-pegged stablecoin on Ethereum and BNB Chain, although it is not yet available for trading.
Speculation surrounding a possible partnership with World Liberty Financial could be a significant factor behind ADA’s recent price increase, akin to the previous $30 million investment from Tron founder Justin Sun and a $10 million investment from the Web3Port platform. Nonetheless, some analysts, including 6MV managing partner Mike Dudas, have criticized Trump’s crypto venture as being more of a “pay-to-play” scheme rather than a legitimate decentralized finance (DeFi) option.
Should World Liberty Financial’s USD1 stablecoin list on Cardano, it could significantly impact the blockchain and generate substantial excitement, particularly with Charles Hoskinson sharing the stage with their representatives. Furthermore, despite having a lower total value locked (TVL) and on-chain activity, Cardano has surpassed some competitors during testing.
Digital Stockpile and DeFi Yields May Boost ADA Demand
Enhancements in Cardano’s DeFi ecosystem and opportunities for attractive yields could also positively impact ADA’s market value. Hydra, a layer-2 scalability solution on Cardano, has reported nearly 1 million transactions per second during gaming activities. Users have noted that no transactions have ever failed on Cardano’s base layer, unlike networks such as Solana, which boast scalability but have encountered problems.
Data from Dune Analytics, as reported by TapTools, indicated a 40% failure rate for transactions on Solana in the 30 days leading up to March 17. In contrast, there’s a claim that every transaction on Cardano’s eUTXO model is validated before being added to the chain.
Despite the criticism, a user on the X social network asserted that most failed transactions on Solana are often due to incomplete execution resulting from unmet conditions, like slippage.
Regardless of the debate surrounding Cardano’s unique validation and scalability features, some DeFi applications display promise. For instance, Indigo, a non-custodial synthetic asset protocol on Cardano, is currently offering a 28% yield on its stablecoin and 20% on Bitcoin-wrapped deposits. However, the difference in returns can be attributed to payouts in INDY tokens, which may not be as attractive compared to some rivals.
The journey for ADA to surpass the $1 mark heavily relies on the Cardano Foundation and Charles Hoskinson’s capability to steer the network’s governance and endorse use cases that align with its scalability and decentralization vision.
Additional catalysts may arise from potential advancements in the US government’s Digital Asset stockpile and increased investments in Cardano’s DeFi applications, which currently provide yields that outshine many competitors.
This article is intended for general information only and should not be interpreted as legal or investment advice. The views and opinions expressed herein are those of the author and do not necessarily represent the views or opinions of any specific organization.