- Cardano price has signaled a midterm bullish outlook towards its all-time high in the near future.
- The upcoming mainnet launch of the Midnight upgrade will stir DeFi growth on the Cardano network.
- The ADA/BTC pair has signaled a multi-year rebound amid the anticipated altseason.
Cardano (ADA) founder Charles Hoskinson just made a bold, joking prediction for the next twelve months: Ethereum co-founder Vitalik Buterin will retire right after Cardano “flips” ETH in market cap.
Speaking with Altcoin Daily, Hoskinson quickly turned serious, stressing his desire to win against intense competition from other Layer 1 chains like Solana and Tron.
“I want to win. Levity aside, Midnight upgrade will be launched on the mainnet,” Hoskinson noted.
What’s the upside? Hoskinson is talking big. Here’s CoinEdition’s past analysis on what would it take for a $1,000 investment in ADA to turn into $50,000.
Here is What Cardano Users Can Expect from Midnight Upgrade
The team behind Midnight has been working on a testnet since 2024. After a rigorous testing process, the new network is expected to launch its mainnet before the end of this year, with development help from partners like Zoniqx and OpenZeppelin.
Once live, Midnight will operate as an independent Layer 1 partner chain focused on privacy. It is not a sidechain, but it will still leverage Cardano’s security and reliability.
The launch of Midnight is expected to play a crucial role in attracting more developers and investors interested in Real-World Assets (RWA) to the broader Cardano ecosystem.
Other key use cases for the new privacy-focused chain include cross-chain DeFi, identity verification, and healthcare data. Meanwhile, the mainnet launch will introduce the NIGHT tokens, with the airdrop having already started.
Meanwhile, the Midnight upgrade on the mainnet will introduce the NIGHT tokens, with the airdrop having already started.
Key Fundamentals for Traders to Consider
The Cardano network has already benefited from the rising institutional demand for altcoins. Amid the ongoing capital rotation from Bitcoin, the ADA/BTC trading pair has been signaling a potential macro reversal.
The network is also benefiting from the growing odds of a spot altcoin ETF approval in the United States. Wall Street analysts are now expecting an “altcoin ETF summer,” with fund managers like Grayscale Investments and Tuttle Capital already having filed to offer spot ADA ETFs.
Midterm Targets for ADA Price
In the weekly timeframe, ADA price has rebounded from a crucial support level around $53 after a correction in the first half of 2025.
A consistent close above the resistance level around $1.18 will propel ADA price towards its all-time high in the subsequent weeks. The bullish outlook has also been flashed by the weekly MACD indicator, whereby the MACD line recently crossed above the signal line amid rising bullish histograms.
Today’s outlook: The long-term chart looks bullish, but what about right now? Here’s CoinEdition’s specific price prediction for ADA today, August 9.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
