Cardano: Will Elon Musk Put US Treasury on ADA Blockchain?
Cardano’s ADA cryptocurrency is in focus as Cardano network fans put pressure on Elon Musk to use its blockchain to house US Treasury transactions. The head of the US Department of Government Efficiency (DOGE) recently revealed his support for putting US Treasury transactions on a blockchain. While he didn’t mention specifically which blockchain is most ideal, Cardano supporters want it to be on theirs.
Charles Hoskinson, the founder of Cardano, has championed this idea on X as well. Most social media appeals from fans have cited Cardano’s benefits compared to other blockchain networks like Solana and Ethereum. In a post to X, TapTools highlighted key benefits like its scalability, energy efficiency, security, decentralization, smart contract automation, and transparency. “Cardano is one of the most decentralized networks in crypto, is fully decentralized, and has unmatched security.”
Cardano ADA’s price would significantly benefit if it were selected to be the chain for improving government efficiency. An endorsement by the US government could pump the asset tremendously, similar to how XRP and Bitcoin have seen in the past year. Currently, ADA is in a down spell, down over 20% to start 2025. The period is viewed as a consolidation time, however, with bulls and smaller investors alike accumulating the dip. ADA had a solid performance in 2024 and expects to replicate that in 2025. The upcoming altcoin season will fuel these gains according to price predictions. Fortunately for ADA holders, the Cardano blockchain being chosen to house US Treasury transactions would only multiply these gains.
Also Read: Cardano: AI Predicts ADA’s Price For February 10, 2025
Cardano ADA Price Predictions
According to CoinCodex, Cardano (ADA) will rally over the next few months. The platform anticipates the asset to hit $1.64 on April 16. Reaching $1.64 from current price levels will translate to a rally of about 118%. ADA last traded above the $1.60 mark in November 2021. Additionally, Changelly anticipates ADA to rally over the next few weeks. The platform’s price prediction says ADA will trade at $1.50 on March 4. Hitting $1.50 from current price levels will entail a rally of about 102.7%.
Cardano has remained above the 100-day moving average of $0.575, a positive sign. Further, there are signs that the coin is in the second phase of the Elliot Wave pattern. This phase is usually followed by the third one, which is the longest. In this case, the third phase will likely run to the psychological level at $2, along the 61.8% Fibonacci Retracement point. This Cardano price target is about 177% above the current level. It will also be confirmed if it rises above $1.329.
Also Read: Cryptocurrency: 3 Coins To Scoop Now For Massive Gains As Bitcoin Hits $97K
Elon Musk’s idea for putting the US Treasury on a blockchain was welcomed by crypto fans. It also brought competition amongst those whose respective currencies have their own blockchains, such as Solana and Ethereum. Should ADA be chosen though, it may see just as much of a price pump as other cryptocurrencies in 2025.
Read More
Cardano: Will Elon Musk Put US Treasury on ADA Blockchain?
Cardano’s ADA cryptocurrency is in focus as Cardano network fans put pressure on Elon Musk to use its blockchain to house US Treasury transactions. The head of the US Department of Government Efficiency (DOGE) recently revealed his support for putting US Treasury transactions on a blockchain. While he didn’t mention specifically which blockchain is most ideal, Cardano supporters want it to be on theirs.
Charles Hoskinson, the founder of Cardano, has championed this idea on X as well. Most social media appeals from fans have cited Cardano’s benefits compared to other blockchain networks like Solana and Ethereum. In a post to X, TapTools highlighted key benefits like its scalability, energy efficiency, security, decentralization, smart contract automation, and transparency. “Cardano is one of the most decentralized networks in crypto, is fully decentralized, and has unmatched security.”
Cardano ADA’s price would significantly benefit if it were selected to be the chain for improving government efficiency. An endorsement by the US government could pump the asset tremendously, similar to how XRP and Bitcoin have seen in the past year. Currently, ADA is in a down spell, down over 20% to start 2025. The period is viewed as a consolidation time, however, with bulls and smaller investors alike accumulating the dip. ADA had a solid performance in 2024 and expects to replicate that in 2025. The upcoming altcoin season will fuel these gains according to price predictions. Fortunately for ADA holders, the Cardano blockchain being chosen to house US Treasury transactions would only multiply these gains.
Also Read: Cardano: AI Predicts ADA’s Price For February 10, 2025
Cardano ADA Price Predictions
According to CoinCodex, Cardano (ADA) will rally over the next few months. The platform anticipates the asset to hit $1.64 on April 16. Reaching $1.64 from current price levels will translate to a rally of about 118%. ADA last traded above the $1.60 mark in November 2021. Additionally, Changelly anticipates ADA to rally over the next few weeks. The platform’s price prediction says ADA will trade at $1.50 on March 4. Hitting $1.50 from current price levels will entail a rally of about 102.7%.
Cardano has remained above the 100-day moving average of $0.575, a positive sign. Further, there are signs that the coin is in the second phase of the Elliot Wave pattern. This phase is usually followed by the third one, which is the longest. In this case, the third phase will likely run to the psychological level at $2, along the 61.8% Fibonacci Retracement point. This Cardano price target is about 177% above the current level. It will also be confirmed if it rises above $1.329.
Also Read: Cryptocurrency: 3 Coins To Scoop Now For Massive Gains As Bitcoin Hits $97K
Elon Musk’s idea for putting the US Treasury on a blockchain was welcomed by crypto fans. It also brought competition amongst those whose respective currencies have their own blockchains, such as Solana and Ethereum. Should ADA be chosen though, it may see just as much of a price pump as other cryptocurrencies in 2025.
Read More