Cardano price rose this week after Grayscale filed for a spot ADA ETF. Since then, odds of the ETF approval have jumped on Polymarket as investors anticipate quick progress in the Trump administration.
Let’s explore some of the best Cardano rivals to consider for substantial gains ahead of the ADA ETF approval later this year.
Arbitrum (ARB)
Arbitrum is one of the biggest Cardano rivals to consider. It is the second-biggest layer-2 blockchain in the crypto industry, with a total value locked (TVL) of over $2.8 billion and bridged validation of $11.5 billion.
ARB is a top coin because it has strong fundamentals and technical. It has real utility, and the technicals point to a strong rally in the coming months.
The coin has recently formed a double-bottom pattern at $0.4495 on the daily chart. Therefore, it is likely to surge and retest the neckline at $1.2485, up by 170% from the current level.
Sui (SUI)
Sui is another top Cardano rival to consider. It has done better than ADA, and its DeFi and gaming ecosystem is bigger than Cardano’s.
Sui has strong technicals, and it has formed a retracement to the 61.8% Fibonacci Retracement level, where most of the reversal happens. It has also formed a falling wedge pattern, a popular bullish reversal sign. The chart below shows that the coin recently moved above the upper side of the wedge.
Therefore, Sui’s price will likely rebound and retest the all-time high at $5.35, up by over 53% from the current level.
Hyperliquid (HYPE)
Hyperliquid is another good Cardano rival to buy ahead of the ADA ETF approval. It is a leading player in the perpetual futures industry, where it has the biggest market share against its rivals by far.
For example, it handled over $38 billion in perpetual futures in the last seven days, higher than Jupiter’s $5.9 billion. This growth will likely accelerate as the developers launch new solutions.
Therefore, the token will likely rebound in the coming months and possibly retest its record high of $35, up 35% from the current level.
Other top Cardano rivals to consider
In an industry with millions of tokens, there are many ADA rivals to consider. Some of the top coins with strong fundamentals and technicals are BNB, Polkadot, and Tron.
BNB has become a top cryptocurrency with a leading market share in industries like DeFi, gaming, and stablecoin transactions.
Polkadot has plunged near its all-time low and could soon exit the three-year consolidation with a big surge. Tron has strong fundamentals, including its token burns, higher revenue, and the fact that it handles over $100 billion worth of stablecoins each day.
Read more: After Cardano ETF Application, These Blue-Chip Coins Are Next
