Cardano Founder Charles Hoskinson Predicts Bitcoin DeFi Explosion

Cardanos DEX volume was, however, much lower compared to other top rival networks like Ethereum and Solana.

The networks TVL bottomed out at $242 million in June but recently surged to $329 million as per the latest data.

ADA Price Recap

ADA price experienced a 26% pullback from its latest local peak on 21 July. This correction occurred after an impressive rally in late June and early July.

Moreover, the pullback also entered the 0.5 to 0.618 Fibonacci range, where it demonstrated signs of a bullish recovery.

ADA exchanged hands at $0.75 at press time, having rallied by over 3% in the last 24 hours. This raised optimism about a potential recovery in the coming week.

Zooming out on ADA price action revealed that it has been trading in a long-term triangle pattern. The same pattern indicated that it had room for more downside with the possibility of a dip below $0.68 before retesting its ascending resistance.

On the other hand, a push for a descending resistance retest could see the price push as high as $0.90.

ADA Price Action | Source: TradingView

A breakout from the wedge pattern could pave the way for a potential breakout. But just how high can ADA rally？

Some predictions projected that ADA could rally as high as $10 in the current bullish cycle. Hoskinson predicted that the cryptocurrency could achieve a 100x gain.

ADA price action was still heavily discounted from its 2021 ATH by roughly 77%. However, it has also been forming higher lows since 2023, with the price appearing to be in a long-term cup and handle pattern.

A breakout from the wedge pattern could potentially allow the price to rally towards the 2021 highs. If this outcome plays out, then ADA might be on track to rally by over 300%.

Crypto analyst Ali Charts noted that ADA recently formed a price structure similar to its 2021 performance. The same analyst posited that the cryptocurrency might be in the early stages of an explosive price move.

Alis analysis aligned with the idea that ADA was headed for the explosive upside part of the cup and handle pattern.

ADA has historically had periods of weak demand followed by explosive price surges, such as the ones observed in November 2024 and February 2025. These latest observations indicated that it might be due for another explosive run sometime soon.