#CardanoDebate Cardano (ADA) by December 2025 what to expect?

Scenario Target range for end of 2025 Main catalysts Qualitative prob.

Conservative US$ 0.90 – 1.65 • Organic growth of TVL 2× • No ETF approved. L1 competitors continue to gain traction Medium-high2

Base (“bull light”) US$ 2.00 – 3.00 • TVL doubles, Midnight and Plomin hard fork delivered • European spot/ETN ETF approved • Crypto market closes 2025 in moderate-risk mode Medium4

Optimistic US$ 5.00 – 7.00 • DeFi on-Bitcoin via Cardinal Protocol takes off • American ADA ETF released by the SEC • Strong institutional flow post-BTC halving Low-medium6

> Today the token trades around US$ 0.68

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