There have been several substantial developments in the Cardano ecosystem recently worth noting. The Leios upgrade has completed 67%, and is expected to boost TPS to over 1000, directly addressing the long-standing performance bottleneck of public chains. Meanwhile, the Midnight privacy sidechain is about to go live, which means enterprise-level applications are likely to truly open up. This is not only a technical breakthrough but also expands the imagination space for ecosystem development.

From the on-chain funding perspective, the foundation has decided to allocate 360 million ADA to community governance, effectively activating the treasury funds. This move usually indicates that more resources will be directed toward ecosystem construction and project incubation.

Institutional deployment signals are also quite clear. Grayscale’s holdings account for 18.55%, ranking just behind Ethereum and Solana in its entire crypto asset allocation. Major institutions like Google Cloud and ProShares are also gradually endorsing. From a price perspective, ADA has just rebounded 20% from $0.3, and compared to other mainstream public chains, its valuation remains relatively low.

Considering the Fed’s rate cut cycle and the gradual clarification of regulatory frameworks, the entire market may usher in a new round of bullishness by 2026. For Cardano, a combination of technological implementation, institutional accumulation, and governance improvement often correlates with strong performance historically.

From a timing perspective, now is a critical phase before the Leios testnet deployment and RWA application landing. Building positions in batches and waiting for these catalysts to be released makes the risk-to-reward ratio worth considering.