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Watcher Guru

12/12/2024

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Cardano Outperforms Top 10 Cryptocurrencies: ADA To $2?

Cardano (ADA) is currently the best-performing cryptocurrency in the daily charts among the top 10 projects by market cap. The asset has rallied 15.1% in the last 24 hours, 15.6% in the 14-day charts, and...

Cardano Outperforms Top 10 Cryptocurrencies: ADA To $2?

Cardano (ADA) is currently the best-performing cryptocurrency in the daily charts among the top 10 projects by market cap. The asset has rallied 15.1% in the last 24 hours, 15.6% in the 14-day charts, and 95.4% over the previous month. ADA’s price has also risen by 102.3% since December 2023. ADA has dipped by 2% despite the rally over the last week.

Also Read: Chainlink Outperforms Bitcoin, Ethereum: Will LINK Hit $50 Soon?

Why Is Cardano Rallying?

Cardano price chart CoinGecko
Source: CoinGecko

ADA’s latest upward momentum follows Bitcoin’s (BTC) climb to the $100,000 mark. BTC is the market leader, and other assets usually follow its trajectory.

Market participants may be taking positions before US President-elect Donald Trump assumes office. Many anticipate an extended bull run under Trump’s leadership. Trump has already named a new SEC chair and a White House crypto czar.

ADA’s rally follows the recent surge in altcoin prices. BNB, Solana (SOL), and TRON (TRX) hit new all-time highs over the last few weeks.

Also Read: How High Will XRP Trade On Christmas Day?

Will The Cryptocurrency Hit $2 Next?

According to CoinCodex, Cardano (ADA) will continue to rally over the next few months. The platform anticipates the asset to breach the $2 mark on Jan. 17, 2025. According to CoinCodex data, ADA will trade at $2.98 on Feb. 22, 2025. Hitting $2.98 from current price levels will entail a rally of about 156.9%.

Cardano Price Prediction CoinCodex
Source: CoinCodex

Changelly, on the other hand, presents a more bearish forecast for Cardano (ADA). The platform does not expect ADA to breach the $2 mark till at least March 2029, about four years from now. Changelly predicts ADA to trade at a potential maximum price of $2.10 in March 2029.

Cardano price prediction Changelly
Source: Changelly

Also Read: Cardano Rebounds 14%: Is ADA Back on Track for $2 in 2025?

There is a possibility that Cardano (ADA) will reclaim its all-time high of $3.09 when Trump assumes office. We may witness another market-wide rally early next year.

AD

Proposals Catalyst F14 - Cast your vote, search "Otavio" in the Voting App.

If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


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