Cardano (ADA) surged 29% over the past week, breaking through the critical $0.74 resistance level that had capped its price for weeks. This bullish momentum briefly pushed ADA to $0.777 on July 13 before settling at $0.7398, marking its strongest performance in recent months. Analysts Ali Martinez and CryptoJelleNL highlighted the breakout, with Martinez projecting a potential rally to $0.90-$1.20 based on technical patterns showing higher lows and sustained volume growth.
The optimism intensified when Bitrue exchange launched a new ADA/USD1 trading pair on July 13. USD1, a US dollar-pegged stablecoin tied to World Liberty Financial and the Trump family, offers traders direct fiat pairing to manage volatility and bypass intermediary cryptocurrencies like BTC or ETH. While not causing immediate price spikes, this listing enhances liquidity and accessibility for ADA holders, potentially attracting new capital inflows long-term.
Concurrently, Cardano founder Charles Hoskinson fueled altcoin enthusiasm by predicting trillions of dollars would enter the altcoin market, citing upcoming regulatory catalysts like the Genius and Clarity acts. Network fundamentals also strengthened, with developers advancing Hydra scaling solutions and decentralized applications despite bear-market conditions.