Prediction: This Cryptocurrency Could Soar 257% in 2026

If you're a bargain-seeking cryptocurrency investor, there might not be a better time to buy than right now. Almost every single major cryptocurrency is selling at a steep discount.

One of the most intriguing of these is Cardano (CRYPTO: ADA). This longtime investor favorite is trading for an unbelievably low price of just $0.28, more than 90% below its all-time high of $3.10. Even if Cardano only makes it back to the $1 price level this year, that's an incredible 257% gain.

Spot Cardano ETFs on the way?

One catalyst that could send Cardano higher is the imminent launch of new spot Cardano exchange-traded funds (ETFs). Despite a market cap of about $10 billion, Cardano does not yet have an easy, convenient way for institutional investors to get exposure to it. The launch of new spot Cardano ETFs should change all that, unleashing a wave of new institutional investor money.

Image source: Getty Images.

The good news is that several Cardano ETF filings are already in the regulatory pipeline and could be approved by the Securities and Exchange Commission (SEC) as soon as the first half of 2026. The most anticipated of these is a new spot Cardano ETF from Grayscale. There are also two leveraged ETF filings in the pipeline, which are geared toward more speculative investors looking for substantial upside potential.

Is a $1 price level within reach?

While the launch of new ETFs would be an exciting development, it might not be enough to send Cardano to the $1 price level. For that to happen, investors need to see more evidence of activity happening on the Cardano blockchain.

Specifically, there needs to be more activity happening within the all-important area of decentralized finance (DeFi). A recent push into stablecoins should help to build demand for the Cardano token. A new partnership with XRP (CRYPTO: XRP) should also help. And new real-world asset (RWA) tokenization projects are promising as well.

Certainly, momentum appears to be building for Cardano. I'm keeping my eye on Cardano's ability to deliver on its "Vision 2030" strategic roadmap released at the end of 2025. In it, Cardano signaled that it was ready to transform into a commercially viable blockchain driven by key performance indicators (KPIs).

Specifically, Cardano has three big goals ahead for the year 2030:

1. 324 million annual transactions
2. 1 million monthly active wallets
3. Total value locked (TVL) of $3 billion

If Cardano can begin to deliver on these goals this year, it should be able to boost its overall valuation considerably.

Although a 257% increase in price is a lot to ask, a price target of $1 is well within reach. After all, the 52-week high for Cardano is $1.13. As long as new spot Cardano ETFs get approved this year, and solid progress is made on Cardano's "Vision 2030" strategy, this undervalued cryptocurrency might end up surprising a lot of investors this year.

Dominic Basulto has positions in Cardano and XRP. The Motley Fool has positions in and recommends XRP. The Motley Fool has a disclosure policy.