Key Insights

• Robinhood has relisted four new major cryptocurrencies on its platform, including Solana, XRP, Pepe, and Cardano.
• This move has led to wild speculation among the crypto community, with predictions of Cardano reaching as high as $8.
• The Cardano Foundation is working on a new CIP to increase Cardano’s capabilities massively.
• Cardano’s future looks bright, especially with the more crypto-friendly US environment and the new upgrades in early 2025.

This week, Robinhood made a strategic move by adding four popular cryptocurrencies to its platform.

These include Cardano, Solana, XRP, and PEPE.

This expansion marks a major shift for the commission-free platform and raises many bullish expectations for Cardano in particular.

Interestingly, Robinhood is only back after previously scaling back its crypto listings due to regulatory scrutiny.

Here are all the updates about Cardano, especially why it might be ready to hit the $8 mark soon.

Cardano Listing: A Return Amid Regulatory Pressure

Robinhood’s decision to relist Solana and Cardano is part of a broader trend among crypto trading platforms.

These days, platforms like Robinhood are revisiting once-restricted assets, reflecting the growing influence of the ongoing bull run.

Recall that Robinhood initially delisted these assets after lawsuits from the US Securities and Exchange Commission against Coinbase and Binance.

Within the lawsuit, the agency accused both of these exchanges of listing several cryptocurrencies—including Solana and Cardano—as unregistered securities. Alongside the return of Solana and Cardano, the exchange has also added XRP, which Ripple Labs has been defending in court for the past four years.

Interestingly, the approach to crypto regulation under SEC chair Gary Gensler was one of the reasons these cryptocurrencies were delisted in the first place.

However, with Donald Trump set to return to the White House, there is some ongoing hope for a change in SEC leadership.

With this leadership change, many crypto-related entities expect that the agency will be less aggressive toward crypto regulation.

The Demand for More Diverse Assets

Robinhood’s approach to listing assets has always been conservative. Compared to other exchanges, at least.

In a recent blog post, Johann Kerbrat, Robinhood Crypto’s General Manager and Vice President stated that user demand was one of the major factors influencing the latest move.

“We’ve consistently heard from our customers that they want access to more digital assets.” He said in the post.

He also added that Robinhood is committed to encouraging financial opportunities by reducing barriers to entry in crypto. 

The listing of Pepe, for example, is a prime example of this.

Soon after relisting, the memecoin saw an immediate spike in price, to an all-time high of $0.00001822.

A near 40% increase.

Solana and Cardano also saw moderate gains, with XRP’s price jumping 6.8% to $0.71. 

Cardano’s Future Growth and a Bold Prediction

In particular, Cardano has been through widespread attention from analysts.

Traders are now optimistic about the cryptocurrency’s potential, with some, like Javon Marks, predicting an upcoming jump to $7.77.

Keep in mind that Marks’ target represents a 1,700% price increase from current levels.

Aside from its market performance, the Cardano ecosystem is on its way to expansion with a new Cardano Improvement Proposal (CIP). 

The new CIP will focus on the Plutus event Emit Standard.

Put simply, Cardano is about to become more smart-contract efficient.

It will also become more interoperable and will feature more improvements—like contract-owned tokens, for example. 

According to Cardano’s Charles Hoskinson, this proposal will come first in the development roadmap and will go live as early as Q1 of 2025.

The new upgrades will attract more developers and boost the platform’s adoption and ADA price.

What To Expect From Cardano?

At the time of writing, Cardano trades at around $0.56, with a 50% price increase from last week.

As Cardano continues to move upward in the charts and rankings, it remains well-positioned to attract more attention within the market.

Its current focus on sustainable growth and security is expected to make it a leading project in the space.

Moreover, its commitment to building a supportive environment is turning out to be one of its greatest assets.

In the coming months, all eyes will be on Cardano as it works its way up towards the $8 target.

Its relisting on Robinhood will also give users more access to its benefits.

Robinhood’s latest moves will also significantly expand the reach of digital assets—particularly Cardano.