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Mentor, a dYdX ambassador, has expressed a bullish stance on Cardano, stating that it would gain substantial traction soon enough.
He revealed this in a recent X post. In his own words, the blue-chip asset would be the “next big thing,” suggesting that Cardano may rally to a new all-time high of $5 in 2026.
Notably, this matters because community and broader sentiments shape investors’ perceptions of an asset. With Mentor, among others, remaining unfazed by the current price uncertainty, it suggests confidence within the ADA camp despite the chaos.
Key Data Points on Cardano Price Action
- Like most other cryptocurrencies, Cardano started the year on a positive note, but that momentum has hit a roadblock.
- ADA surged to a high of $0.43 last week, up from its January 1 opening price of $0.33, representing a 30% gain.
- Market participants suggested that the strong start was a glimpse of what lies ahead for Cardano this year.
- However, the momentum seems to be fading, as evidenced by recent price action. ADA has now retraced 9.30% from its high last week to its current price of $0.39. Despite this, it has increased 1.30% so far today.
- Amid the ongoing price action, Mentor believes Cardano will soon enter a new phase to hit $5, citing the prospect that prices will develop rapidly.
- ADA will need to rise 1,182% to reach $5.
Why ADA Could Enter a New Phase in 2026
While Mentor failed to present a technical or fundamental context for his outlook, making it highly speculative, recent developments suggest Cardano could indeed enter a new phase in 2026. Founder Charles Hoskinson has repeatedly drummed this sentiment, citing technological advancement as the driver.
Upgrades like the Ouroboros Leios, implementations such as the Midnight mainnet launch, and strategic partnerships like that with the Pyth network position Cardano favorably this year. Furthermore, the initiative to boost DeFi by attracting Bitcoin and XRP users and bringing major stablecoin issuers like USDT and USDC to Cardano could also spark this turnaround.
Many Share the ADA to $5 Outlook, but It Remains Uncertain
Meanwhile, Mentor is not the only analyst who sees Cardano reaching $5. In October 2025, Chris O also predicted that the coin would rise to between $5 and $8 this cycle. Analyst Mr. Banana also believes that $5 is the realistic target for ADA this cycle. According to him, selling before the new ATH would be selling short of its bullish potential.
However, investors should note that a consensus among analysts does not provide 100% assurance of a price move. Notably, there is no guarantee that XRP would reach the $5 price this year. As a result, investors should not consider Mentor’s projection as investment advice.