Cardano Market Outlook: ADA Bulls Target $5 as Solaxy Could Pump to $10

With a 19/100 score on the Fear and Greed Index, the crypto market is in extreme fear territory as a selling frenzy saw the leading five cryptocurrencies lose 7-37% over the past 30 days. Although Bitcoin (BTC) gained 1.70% over the past 24 hours, it is still down 8.15% over the week, and most leading altcoins have shown a similar performance.

However, Cardano (ADA) stands out among the top 20 cryptocurrencies as the only token that gained value over the past month, and it seems prepared to soar further over the upcoming months.

As ADA defies negative market trends,Solaxy (SOLX) is one of the few projects that performed well over the past 30 days, during which it raised over $6 million for a total of $25.9 million for its upcoming Layer 2 blockchain and token so far.

Cardano, like the other four tokens included in President Trump’s announcement of the upcoming strategic crypto reserve, saw its price fluctuate over the past 30 days. In early February, it was priced at $0.6949, with its price soaring to $1.1 in early March, following Trump’s announcement.

Although it dropped to $0.759 since, Cardano is the only leading altcoin whose monthly price action has managed to avoid a downward trend, which showcases the resilience of its holders despite the news of the SEC’s decision to delay its Grayscale ADA ETF decision until May 2025.

Founded by Ethereum’s co-creator Charles Hoskinson, Cardano’s goal is to transform decentralization by making financial systems more accessible, secure, and scalable. As its native token, ADA fuels the Cardano platform and is used for staking, transactions, and governance.

As Cardano’s ecosystem grows, with projects like Midnight, a privacy-focused partner chain partnered with Cardano, drawing in new investors, ADA can also expect a significant boost in institutional investment if the Grayscale ADA ETF is approved. 

The bullish sentiment surrounding ADA has market analyst CryptoTA confident in its potential to soar to the $2.3 level in the short term.

$ADA Looks Amazing

Let’s Pump it to the moon pic.twitter.com/1zcuHpkZvT

— Crypto TA King (@CryptoTA_King) March 11, 2025

Only 32.25% of traders have shorted the token over the past 24 hours, as reflected by ADA’s 2.10 long/short ratio, which indicates it has short-term growth potential. Plus, its 50-day Simple Moving Average (SMA) of $0.817 is above its 200-day SMA of $0.694, which forms a Golden Cross pattern and fuels the bullish sentiment regarding its long-term potential.

While crypto expert Jupiter expects Cardano to reach $6 during this cycle, many investors are turning to more strategic investments, with the Solaxy presale attracting more attention than most projects.

Solaxy is preparing to join the market as more than just another Pepe-inspired meme coin, as it aims to make transactions on Solana faster and less expensive with its upcoming Layer 2 solution.

Leveraging rollups, a system that bundles transactions for faster processing, Solaxy intends to help Solana deal with its congestion-related issues that often lead to slow or failed transactions. However, the transactions would still finalize on Solana to retain its robust security and transparency.

Investors can purchase SOLX at its current price of $0.00166 using ETH, SOL, USDT, or a traditional bank card via the presale website. However, its per-token price will increase as the presale progresses through its stages, with the next rise scheduled for later today.

Alternatively, SOLX is available via Best Wallet, which also accepts payments in BNB and features the token in its “Upcoming Tokens” hub that displays vetted presales. Security-wise, Solaxy’s smart contract has been audited by Coinsult, which found no threats to investor funds.

As Solaxy approaches the $26 million raised mark and its community of over 81,400 followers across X (Twitter) and Telegram rampantly grows, Jacob Crypto Bury, a meme coin analyst, expects the token to see 10x gains right after it launches.

The analyst highlighted that Solaxy’s developers are committed to transparency, commending their focus on delivering dev updates to the community. In one of their updates, the team behind Solaxy revealed they’re working on a token launchpad expansion for Solaxy’s ecosystem, which could boost its visibility and help drive its token’s price, leaving Jacob Crypto Bury bullish on its future.

Although there are no guarantees when it comes to meme coins, Solaxy’s ambitious approach to the market could position it for impressive growth once it lists on DEXs. Investors don’t have long to enter the presale, though, as it is approaching its final stage.

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Solana Layer 2, Ultra-Fast Transactions

Secure & Scalable, Early Investor Rewards

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