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Tron Weekly

08/23/2024

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Cardano Eyes $5 Target: CoinW Sets Bold Milestones For Top Cryptos

You are here: Home / News / Cardano Eyes $5 Target: CoinW Sets Bold Milestones for Top Cryptos Leading cryptocurrency exchange CoinW recently stirred the crypto community with an ambitious prediction for...

Cardano Eyes $5 Target: CoinW Sets Bold Milestones For Top Cryptos

You are here: Home / News / Cardano Eyes $5 Target: CoinW Sets Bold Milestones for Top Cryptos

Cardano

Leading cryptocurrency exchange CoinW recently stirred the crypto community with an ambitious prediction for Cardano (ADA). In a recent post on X (formerly Twitter), CoinW asked its 423,200 followers to predict which major cryptocurrency would first hit key milestones. Among the projections was ADA’s potential surge to $5, marking a 1,265% increase from its current price.

The exchange’s post presented a range of aggressive price targets for top cryptocurrencies. These include Bitcoin (BTC) reaching $100,000, Ethereum (ETH) soaring to $10,000, and Cardano (ADA) climbing to $5. Additionally, CoinW set lofty goals for Solana (SOL) at $250, Shiba Inu (SHIB) at $1, XRP (XRP) at $1, and Avalanche (AVAX) at $100.

Crypto enthusiasts quickly engaged in discussions, debating the likelihood of these targets being met. Among the proposed milestones, Cardano’s $5 prediction drew significant attention.

Cardano’s Path to a New All-Time High

Cardano’s current price of $0.3663, as per CoinMarketCap, is a far cry from its all-time high (ATH) of $3.10, recorded on September 2, 2021. For ADA to hit CoinW’s projected $5 mark, it would need to rise by a staggering 1,265%. While this leap seems steep, it’s not without precedent in the crypto world.

Notably, prominent chartist Ali Martinez has echoed the possibility of ADA reaching $5. Martinez pointed out that Cardano’s price movements this year mirror patterns seen between 2018 and 2021, when the asset ranged between $0.025 and $0.1 before surging to $3.10. According to Martinez, Cardano could repeat this pattern and hit $5 before year’s end.

Longer-term forecasts from crypto firm Changelly are more conservative. They predict ADA could reach $5 by May 2031, setting a peak of $5.15 for that month. These projections remain subject to revision as market conditions evolve.

ADA has seen a modest recovery, rising 3.02% in the last 24 hours and 8.24% over the past week. With a market cap of $13.15 billion, ADA now ranks as the 10th largest cryptocurrency, narrowly surpassing Tron (TRX).

While these targets may seem ambitious, the crypto community remains captivated by the potential of Cardano’s future growth.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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