- Polkadot (DOT) and Cardano (ADA) prices surge over 5% in 24 hours.
- The surge followed news of a Polkadot-Cardano interoperability bridge.
- Analysts predict further gains for DOT and ADA, with DOT targeting $7.5-$8.75.
Polkadot (DOT) and Cardano (ADA) have gained significant attention in recent days, reflected in their market values. DOT and ADA are among the top performers in the last 24 hours, posting over 5% gains.
This intraday surge has further boosted their weekly gains, with DOT boasting over 14% growth in the last seven days while ADA has registered an 8% increase. The host of the Discover Crypto channel attributed Polkadot and Cardano’s strong performances to a recent update regarding the partnership between the two blockchains.
Earlier in the week, a representative from the uniFire ecosystem shared on the Polkadot forum that Cardano submitted a proposal to develop a light client and NFT swap bridge, enabling seamless interactions between the Cardano and Polkadot networks.
The proposed project aims to foster greater interoperability between the two ecosystems, allowing users to transfer assets across networks. The proposal has received overwhelmingly positive reactions from community members.
The Discover Crypto channel analyst believes Polkadot and Cardano holders are well-positioned to realize even more positive returns than seen within the past day. For DOT, he proposed a short-term target price range of $7.5 to $8.75. With DOT trading at $6.37 at the time of reporting, attaining the $8.75 threshold would require a rally of 37.36%.
Separately, analyst Michaël van de Poppe argued that Polkadot will likely follow the upward trajectory of leading altcoin Ethereum. He asserted that DOT is one of the most undervalued crypto assets with significant upside potential.
As for Cardano, market analysts are similarly unanimous about a bullish future. An analyst recently suggested that Cardano’s re-entry to the $0.42 region would confirm the arrival of the bulls, targeting $0.75. ADA briefly exceeded the $0.40 mark, with its intraday high at $0.4018.
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