crypto.news 2025-05-01 14:08:45

Cardano holds above key support as developer activity tops Ethereum

Cardano is gaining bullish traction after bouncing off its 20-day moving average, signaling a potential trend shift as the network quietly claims the top spot in blockchain developer activity. Data from blockchain analytics platform Cryptometheus shows Cardano ( ADA ) recorded 21,440 GitHub commits across 550 repositories, ranking it #1 in developer activity over the recent period. By contrast, Ethereum ( ETH ) saw 20,998 commits across 278 repositories. In the past 7 days, Cardano had 29 developers making 228 commits, compared to Ethereum’s 15 developers and 199 commits. This surge points to deeper ecosystem engagement and reflects growing confidence in Cardano’s long-term roadmap. Cardano’s technical analysis also indicates increasing bullish momentum. Currently trading at $0.70, ADA is positioned above the 20-day exponential moving average at $0.6764 and the simple moving average at $0.6640, both of which now serve as short-term support. Most short-term moving averages are flashing buy signals, although longer-term indicators — like the 100-day and 200-day SMAs — still lean bearish. This suggests ADA may be in the early stages of a possible breakout. Cardano price analysis. Credit: crypto.news Although mixed, momentum indicators lean positive. The relative strength index at 56.7 is still in neutral territory, leaving room for potential future growth, while the moving average convergence divergence at 0.0118 displays bullish signs. ADA might rise to $0.80 if it can break above $0.74. On the downside, it may return towards the $0.61 area if it falls below $0.66. You might also like: Can Cardano price rebound as staking inflows jump by $215m? According to CoinCodex’s price prediction , Cardano could rise 8.88% by May 31, reaching $0.758, with the Fear & Greed Index currently sitting at 53, indicating neutral sentiment. Cardano’s roadmap may soon serve as a major catalyst. In an April 19 interview with The Angry Crypto Show, Cardano founder Charles Hoskinson said the project is “playing very aggressively with Bitcoin DeFi,” aiming to become the go-to platform for Bitcoin-based decentralized finance. He added: “There’s already $5.8 billion in TVL from the Bitcoin side… If you get 5% or 10% of the supply, the TVL will be larger than Solana or Ethereum.” Hoskinson also confirmed plans for a Bitcoin ( BTC ) bridge and Lace wallet integration, which could open new liquidity flows and cross-chain opportunities for ADA holders. Meanwhile, speculation around ADA spot exchange-traded funds has intensified. Canary Capital and Grayscale’s applications are still being reviewed, and the Securities and Exchange Commission is expected to make a final decision by May 29. Since Paul Atkins was appointed SEC chair, optimism has grown, raising the likelihood of a favorable decision. Read more: Cardano advances in RWAs as Genius Yield approves milestone for asset tokenization

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