Key Points
The arrival of spot ETFs for Cardano could help attract new money from institutional investors.
The launch of a high-profile AI project could dramatically change the investment narrative around the cryptocurrency.
A new strategic vision for 2030 imagines a much more robust blockchain for Cardano.
- 10 stocks we like better than Cardano ›
Down more than 90% from its all-time high, Cardano (CRYPTO: ADA) has fallen off the radar of most crypto investors. And for good reason: The crypto market places a premium on stratospheric upside potential, and Cardano has traded sideways or down for years.
In fact, it's safe to say that Cardano might just be the most underrated cryptocurrency in the market right now. It has fallen out of the list of top 10 cryptocurrencies (as ranked by market cap) and is no longer viewed as the top challenger to Ethereum.
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That being said, there are several catalysts that might turn it all around for the digital coin and finally make it a compelling buy.
The arrival of spot Cardano ETFs
One catalyst that might do the trick is the arrival of spot Cardano exchange-traded funds (ETFs), with several applications now in the regulatory-approval pipeline. The current thinking is that the first spot Cardano ETF might arrive by the end of October.
Image source: Getty Images.
If so, this could finally attract institutional investors, who have thus far shown little or no appetite for Cardano. Any flow of new money could lift its price.
The launch of a high-profile AI project
Another potential catalyst would be the launch of a splashy new artificial intelligence (AI) project that runs on top of the Cardano blockchain. Several years ago, I thought this would be SingularityNET, the AI project that is now known as Artificial Superintelligence Alliance (CRYPTO: FET).
In 2021, SingularityNET announced that it was moving from Ethereum to Cardano. Announcements kept coming throughout 2023 and 2024, and many hailed it as a big moment for Cardano. However, the price of Artificial Superintelligence Alliance subsequently tanked, and this formerly hot AI crypto trades for roughly the same price as Cardano today.
However, there is still an opportunity for Cardano, given that no blockchain -- not even Ethereum -- has emerged as the go-to blockchain for AI. The crypto just needs to find the right partner or the right project.
Strategy 2030
At the end of 2025, Cardano announced a comprehensive new strategic vision with one primary goal: dramatically boosting its on-chain activity. That, in turn, should help to move the needle on key blockchain metrics that investors use to analyze the digital coin.
The big picture is that by the year 2030, Cardano will be a thriving blockchain with more users, more utility, and more developers than ever before. In theory, investors will be so excited about this commitment to growth that they will bid the price of the crypto ever higher.
How high can Cardano go?
The only problem is that the all-time high for Cardano is just $3. So we're not talking about a blastoff to the stratosphere quite yet. If it can regain a $1 price, that will be an important first step. At a current price of just $0.25, that's a quick fourfold return. If enough investors trust in the long-term vision of Cardano, a relatively modest up-front investment might pay off big later.
Should you buy stock in Cardano right now?
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Dominic Basulto has positions in Cardano, Ethereum, and Fetch. The Motley Fool has positions in and recommends Ethereum and Fetch. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
