Grayscale’s Cardano ETF filing boosted ADA price by 11%, signaling renewed confidence for Cardano price – is ADA the best crypto to buy?
The crypto market is experiencing a significant shift as major investors begin looking beyond Bitcoin and Ethereum. A key driver of this change is Grayscale’s recent decision to file for a Cardano (ADA) spot ETF. This news has already boosted ADA’s price by 11%, indicating growing confidence in the project.
From a technical perspective, ADA latest breakout suggests increasing bullish momentum or at least a recovery from the past lows.
Although Cardano’s price has dropped about more than 40% since December 2024—mirroring the general downturn in the crypto market—the ETF announcement injected renewed optimism.
In early 2021, ADA exhibited a comparable pattern, consolidating within a tight range before making an explosive move that led to its all-time high (ATH). The current price chart reveals an upper accumulation range where Cardano tests critical resistance levels. If ADA can maintain its upward trajectory, a retest of its previous ATH could be on the horizon.
Cardano $ADA is repeating history. pic.twitter.com/hTrJ45oWyO
— TapTools (@TapTools) February 13, 2025
ADA Price Analysis: Can Cardano Price Hit $1 in February 2025?
ADA recently broke above a short-term downtrend and is currently trading at $0.812, suggesting that its downward momentum is easing. This move might start a new bullish phase if buyers step in and volume increases.
The first test is the $1.20 level, a psychological barrier and key resistance zone from previous trading activity. If ADA holds support around $0.75–$0.80 and pushes higher, traders may look for a move toward $1.20–$1.30 down the line.
On the flip side, if the price falls back under $0.80, it might indicate that sellers are still strong and the downtrend is not fully broken. In that scenario, ADA could slide to lower support areas.
Keeping an eye on volume and the general market condition is important because a breakout backed by solid trading volume is usually more reliable.
Solana’s First Layer-2 Project, Solaxy, Secures $20.7 Million in Presale – Best Crypto To Buy?
Solana remains one of the most influential blockchains globally, but network congestion poses a major challenge.
For this reason, Solaxy (SOLX), a new Layer-2 solution designed to enhance Solana’s scalability, might be one of the best crypto to buy at the moment.
With over $20.7 million raised in its presale, early supporters anticipate a significant price surge once SOLX is listed on exchanges.
Although Solana boasts a theoretical capacity of 65,000 transactions per second, congestion issues still arise during high-traffic events, such as meme coin launches.
Solaxy aims to tackle this problem head-on by introducing an additional processing layer to Solana’s blockchain. Instead of every transaction competing for space on the main chain, Solaxy processes transactions off-chain, aggregates them, and then finalizes them on Solana. This method results in faster transactions, lower fees, and improved user experience.
At the core of this ecosystem is $SOLX, Solaxy’s native token, which will be used for:
- Gas fees
- Staking rewards
- Governance
- Cross-chain bridging
Solaxy’s multi-chain bridge aims to connect the Ethereum and Solana ecosystems, unlocking Ethereum’s deep liquidity while leveraging Solana’s superior transaction speeds.
SOLX Presale Gains Momentum – Over $20M Raised Before Exchange Listings
Since launching its presale in mid-December, Solaxy has experienced a massive influx of investor interest, with $20.7 million raised in just two months.
This momentum underscores strong investor confidence in Solaxy’s ability to scale Solana effectively.
Currently, $SOLX tokens are priced at $0.001634, but this will not last long—a scheduled price increase will take place within the next 18 hours.
Solaxy plans to debut SOLX on a decentralized exchange (DEX) first, with potential centralized exchange (CEX) listings in the future. Solaxy is gaining credibility, having successfully passed a security audit by Coinsult.
With momentum building, Solaxy’s presale is shaping up to be one of the most closely watched events in the crypto space.
EXPLORE: Is SNEK About to Skyrocket On Cardano? Best Meme Coin to Buy
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