Cardano has maintained its position above critical support levels while simultaneously claiming the top spot in blockchain developer activity according to recent data from Cryptometheus. The platform recorded an impressive 21,440 GitHub commits across 550 repositories, outpacing Ethereum’s 20,998 commits. In the past week alone, Cardano saw 29 developers making 228 commits compared to Ethereum’s 15 developers with 199 commits, highlighting growing ecosystem engagement and developer confidence in Cardano’s roadmap.
Currently trading at $0.70, ADA sits comfortably above its 20-day exponential moving average at $0.6764, with short-term technical indicators signaling bullish momentum. While longer-term indicators remain cautious, the relative strength index at 56.7 provides room for growth as Cardano potentially targets the $0.80 level. Market predictions from CoinCodex suggest a possible 8.88% increase by the end of May, with current market sentiment registering as neutral on the Fear & Greed Index.
Cardano’s prospects appear increasingly promising as founder Charles Hoskinson recently revealed ambitious plans to dominate itcoin">Bitcoin DeFi, noting that “there’s already $5.8 billion in TVL from the itcoin">Bitcoin side.” With upcoming developments including a itcoin">Bitcoin bridge and Lace wallet integration, alongside pending decisions on spot ETF applications by May 29, Cardano seems positioned at a critical juncture. The recent appointment of Paul Atkins as SEC chair has further fueled optimism around regulatory decisions that could significantly impact ADA’s trajectory.
