How Did Cardano (ADA) Perform in 2024?

The Cardano blockchain’s native cryptocurrency, ADA, trades at the $1.12 mark on Monday. It has spiked more than 150% in the last 30 days, attracting heavy bullish sentiments. ADA picked up steam after the cryptocurrency market rallied post-Trump’s victory in early November.

Bitcoin and other leading altcoins touched new highs after Trump reclaimed the White House, defeating his Democratic rival Kamala Harris. So, how did Cardano’s ADA perform in the indices in 2024? Was its performance good, bad, or decent? Let’s find out!

Also Read: De-Dollarization: 2 Countries Settle $37 Billion in Local Currencies

Decoding Cardano ADA’s Performance in 2024

Cardano ADA Blockchain — Source: Cryptonomics

Cardano’s ADA saw little to no price spurts in the first three quarters of 2024 but changed the game after October. Its performance spiked in Q4 this year, and investors rode the bull in the charts. Traders who took an entry position after Trump clinched the White House saw their investments more than double.

Also Read: Shiba Inu: When Elon Musk Revealed How Much SHIB He Owns

The overall performance of Cardano in 2024 has been good as ADA surged nearly 90% year-to-date. It had reached a yearly high of $1.29 which more than doubled investors’ money this year. However, its price has now cooled down and is moving around the $1.12 range.

Also Read: Ripple: New Price Analysis Claims XRP To Hit $8, Here’s How?

Therefore, an investment of $10,000 made early this year has turned into $19,000 in December 2024. That’s stellar returns in a year as very few financial instruments can double a trader’s money in a year’s time. Cardano’s ADA has achieved that feat and its performance has been overall good this year.

Read here to know the tentative timeline on when Cardano could breach its all-time high of $3.09. ADA reached its ATH in September 2021 and it has been more than three years since it failed to reclaim its previous glory. Traders are hopeful that Trump’s presidency could push the cryptocurrency market to new heights. When that happens, leading altcoins like ADA could benefit from the bull market.