Cardano Price Skyrockets as Bitcoin Hits Lace Wallet—$1 ADA Incoming?

Cardano (ADA) is gaining renewed market traction as bullish sentiment pushes its price higher. Over the past 24 hours, ADA climbed from $0.5308 to a high of $0.5932 before settling at $0.5813.

This movement reflects a 6.01 percent gain, driven by increased demand and a notable 11.92 percent surge in trading volume. Investor interest is high, and the market players are focusing on recovering recent losses and breaking through key resistance zones. Over the last few days, ADA has been in a stage of consolidation; a price that currently holds well as support was at $ 0.52.

Its recent price spike shows a change of momentum, and a move above the resistance level of $0.60 may mark the beginning of a greater up-swing. According to the analysts, ADA could only push forward to $0.70 and have another test to $1 when it remains beyond this range.

Also Read: Michael Saylor Drops Cryptic ‘Land’s End’ Clue After Bitcoin Soars 5%

Lace Wallet Bitcoin Integration Fuels Investor Optimism

Adding to market excitement, Cardano’s Lace Wallet has officially integrated Bitcoin on the mainnet. This was confirmed by Cardano founder Charles Hoskinson, who announced that the update was now live on Lace version 1.24.

This will be regarded as a giant leap forward in terms of interoperability between Cardano and other prominent blockchains. It has raised speculation of future incorporations of other significant assets, such as XRP. The incorporation of Bitcoin may attract newcomers and expand its adoption on the Cardano network.

Investors interpret this update as a bullish indication, and some even hinted that it may be used to propel ADA to the much coveted $1 price. When user activity increases, Cardano can have better utility and investor confidence.

With trading volumes on the rise and technical indicators flashing green, ADA is well-positioned to continue its upward movement. However, given that the price moved above the $0.60 level, breaking is still essential for a sustained breakout.

ADA is gaining momentum as Bitcoin’s addition to the Lace Wallet injects new energy into the Cardano network. If bullish pressure holds, the $1 target could soon return to focus for investors.

Also Read: Whale Loses $111M on Bitcoin Bet as Price Skyrockets Near All-Time High

The post Cardano Price Skyrockets as Bitcoin Hits Lace Wallet—$1 ADA Incoming? appeared first on 36Crypto.