Analyst Predictions: Cardano (ADA) Rockets Towards $8.78 in 2024 as Polygon (MATIC) Eyes $1.99

Cryptocurrency analysts often predict token prices, offering insights into potential market movements. Two coins that have recently gained attention for their projected growth are Cardano (ADA) and Polygon (MATIC). ADA is anticipated to surge to $8.78 by 2024, while MATIC eyes a target of $1.99. Let’s examine these projections while mentioning another token with the potential for high returns.

Cardano (ADA): A Bullish Outlook 

BTC Direct’s Cardano (ADA) price prediction presents an optimistic outlook, predicting a steady climb for ADA. They foresee the Cardano price reaching $8.78 by December 2024. 

However, to achieve this target, the Cardano coin would have to surge to a market cap of $309B, marking a substantial 2,276% increase from its current market cap of $13B. 

Similarly, Cardano’s price would need a remarkable 2,272% jump from its current value of $0.37. Despite Cardano’s current position, sitting comfortably above the 21 and 50-day EMAs, this forecast appears highly ambitious and may face challenges to come true within the given timeline.

Polygon (MATIC) to $1.61 – Who Called This? 

Polygon (MATIC) has emerged as a star in the crypto space, with projections suggesting a potential surge to $1.61 by December 2024, as reported by AMBCrypto. This growth implies a 109% increase in the Polygon price from its current $0.77 level. But remember that Polygon has not hit $1.60 since April 2022.

Additionally, Polygon’s market cap, now at $7B, would need to double to $14B to accomplish this milestone. In terms of its recent price performance, there was an uptick in Polygon’s price by 0.43% following the news of Lugano’s addition of Polygon PoS to its payment app. This indicates positive developments within the ecosystem. 

However, while this Polygon price prediction is plausible, it may take time to come to fruition. Let’s explore an alternative token that might offer more promising returns over the long term.