The Cardano Foundation has advanced a treasury-backed loan to secure exchange listings, aiding bullish Cardano price predictions.
Proposed by the Snek Foundation, the vote plan establishes a sustainable funding model for “mature” Cardano-native altcoins to access growth capital through a repayable treasury loan.
A total allocation of $2 million in ADA has been approved to finance a coordinated “global listing expansion” program to settle tier-1 exchange listing costs.
By broadening the Cardano ecosystem’s exposure on mainstream marketplaces, ADA gains indirect exposure as the utility token behind them.
These new touchpoints for indirect demand could ease the liquidity challenges the altcoin currently faces.
Notably, the community choice in governance diverges from Cardano co-founder Charles Hoskinson’s stance on using treasury funds for Snek or related listings. He had insisted that it was a non-core use of the funds, instead advocating for direct investment in Cardano.
Cardano Price Prediction: Could New Listings Revive ADA?
Fresh touch points for demand could give ADA the fuel it needs to realise a potential year-long symmetrical triangle formation.
Its most recent test of its lower support is shaping up as a bounce, with momentum indicators flashing reversal signs.
ADA / USDT 1-day chart, symmetrical triangle pattern. Source: TradingView.The RSI has breached the 30 oversold threshold after months of steady decline, while the MACD approaches a golden cross, readings that have historically marked local bottoms for the Cardano price.
A recovery of the key demand zone at $0.50 could confirm a sustained upwards move by establishing higher and firmer support.
In a breakout scenario, ADA stands to recover late 2024 highs around $1.35 for a 220% gain.
But with bullish narratives like ETFs entering the picture, fundamentals lay the groundwork for a fully realised breakout push to previous market cycle highs around $3, a 620% gain.
But, sustained growth likely hinges on the treasury loan being devoted to projects with real utility to attract sticky ecosystem adoption, Hoskinson’s main point of contention.
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Visit the Official PepeNode Website HereThe post Cardano Price Prediction: Surprise Vote Could Unlock Global Exchange Listings – What It Means for ADA Holders appeared first on Cryptonews.
