Cardano Price Rises As Cardinal Protocol Bridges ADA And BTC, Nasdaq Crypto Index Update

Cardano ADA/USD gained 3% on Wednesday after trading between $0.66 and $0.72 in the last 24 hours. It settled near $0.6951 as founder Charles Hoskinson introduced the Cardinal Protocol, the first application enabling Bitcoin BTC/USD liquidity to flow directly into Cardano’s decentralized finance ecosystem.

The protocol uses MuSig2 multi-signature cryptography to bridge Bitcoin’s UTXO model with Cardano’s smart contract layer, allowing users to earn a yield on BTC without giving up custody. Cardinal represents a major step toward unlocking idle Bitcoin capital across chains. By keeping BTC holders as co-signers in all transactions, the protocol aims to offer non-custodial security with seamless interoperability. The model has the potential to drive billions in assets toward Cardano-based DeFi products.

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Hoskinson also recently noted that the Lace wallet, developed by Input Output and launched in April 2023, will soon support XRP tokens. With Bitcoin testnet support and multi-account management in place, the wallet has evolved into a cross-chain gateway for users navigating multiple ecosystems.

Also coming soon is Cardano’s Midnight Protocol. The privacy-focused layer, built on the Fairgate stack, uses zero-knowledge proofs and a BitVMX bridge to deliver confidential smart contracts and secure cross-chain execution. A Token Generation Event and airdrop are anticipated, with launch details expected soon.

The Cardinal launch comes as ADA benefits from growing institutional visibility. Nasdaq Inc. NDAQ recently expanded its Crypto Benchmark Index to include Cardano alongside Solana SOL/USD, XRP XRP/USD, and Stellar XLM/USD. According to Nasdaq, the update reflects rising institutional demand for diversified altcoin exposure.

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CoinDesk Research reported an 8.8% intraday range, with trading volume up 68%. The $0.70 level is emerging as a key support zone, while analysts view a break below $0.66 as a possible trigger for further consolidation. Resistance sits near $0.75.

Cardano’s news coincides with broader crypto market gains. The CoinDesk 20 Index rose 4% amid easing U.S. inflation and renewed ETF speculation. Ethereum ETH/USD led Layer-1s increased network activity, while Solana and Avalanche AVAX/USD benefited from growing developer momentum.

ADA slipped back from $0.72 as traders locked in gains, but the trading activity around $0.68 is holding the floor. If Cardano can keep prices above $0.70, it could draw fresh interest and pave the way for a challenge toward $0.75, especially if on-chain metrics show rising engagement.

Security audits for Cardinal and Midnight remain a headline risk, and U.S. regulatory scrutiny is never far away. A sudden downturn in Bitcoin or broader crypto could quickly spill over into ADA, reminding everyone that promising tech depends on market sentiment.

If Cardinal can deliver a smooth bridge for Bitcoin into Cardano’s DeFi world, the shift will be more than a short-term price move. With institutions peeking in and new interoperability tools coming, ADA’s real test will be turning the attention into active users and liquidity.

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