Cardano's Quiet Comeback: Analysts See Further Gains Ahead

Cardano's ADA token has made significant strides in recent weeks, achieving a 26% weekly gain and surpassing $0.195 for the first time since July 4.

This rebound comes amidst declining wallet numbers, with Santiment finding that Cardano has 7,070 fewer non-empty wallets than two months ago, indicating stronger buyers absorbing supply while retail confidence remains low.

Large investors have indeed stepped in, accumulating over 240 million ADA in just five days, according to Ali Martinez. Analysts such as JAVON MARKS and Leon Voss see potential for further gains, with MARKS predicting a possible move toward $2.90 and Voss highlighting the importance of holding above $0.17.

On the DeFi front, Cardano's total value locked has climbed by about 11% in the past week, nearing $70 million, while its developer activity remains strong, ranking second in terms of 30-day developer activity behind Ethereum.