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 (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.