Cardano

Rally

2024

<p><strong>TL:DR;</strong></p>
<ul>
 <li>Cardano’s native token has emerged as one of the top performers today, surging to $1.3 to mark a multi-year peak.</li>
 <li>The community was quick to pick up the move and outline some massive predictions of up to $6.</li>
</ul>
<figure id="attachment_373229" aria-describedby="caption-attachment-373229" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/12/ADAUSD.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-373229" src="https://cryptopotato.com/wp-content/uploads/2024/12/ADAUSD.png" alt="ADAUSD. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/12/ADAUSD.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/12/ADAUSD-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/12/ADAUSD-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/12/ADAUSD-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/12/ADAUSD-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/12/ADAUSD-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-373229" class="wp-caption-text">
  ADAUSD. Source: TradingView
 </figcaption>
</figure>
<h2 id="ada-s-bull-rally">ADA’s Bull Rally</h2>
<p>ADA stood at around $0.32 on November 5, the day of the US elections, and was relatively sluggish at first, even as the rest of the market was charting impressive gains following Trump’s decisive victory.</p>
<p>However, its own rally began that weekend when IOG founder Charles Hoskinson <a href="https://cryptopotato.com/cardano-ada-soars-30-daily-as-founder-charles-hoskinson-makes-big-announcement/" data-wpel-link="internal" rel="noopener noreferrer nofollow">said</a> he will spend a lot of time in 2025 working alongside the Trump administration to establish a more favorable and comprehensive crypto policy in the States.</p>
<p>Cardano’s token exploded to over $0.6 at the time, but more promising <a href="https://cryptopotato.com/is-charles-hoskinsons-latest-big-hint-behind-adas-20-daily-surge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">hints</a> coming from Hoskinson sent it further north. ADA neared $1 and after a few rejections there managed to break above that level.</p>
<p>Its rally was stalled for a few days but the bulls are back in charge now as they pushed ADA to just over $1.3 earlier today, which meant a 20% surge at one point. This became the asset’s highest price point since mid-January 2022.</p>
<p>Consequently, ADA has overtaken USDC and is now the eighth-largest cryptocurrency by market cap, as the metric stands above $45 billion.</p>
<h2 id="ada-to-6">ADA to $6?</h2>
<p>ADA’s breakout led many analysts to speculate on its future price growth. Some of the more modest <a href="https://x.com/CW8900/status/1863527470131212292" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">predictions</a> indicated that the asset could rise up to $1.5 next, which sounds achievable even for the short-term, given the recent price developments in the market.</p>
<p>Popular analyst Ali also outlined the same target following ADA’s price surge above $1.25, which invalidated a previous forecast for a 20% correction.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">Invalidated! <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$ADA</a> goes to $1.50 next. <a href="https://t.co/OhJXrA2MSM" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">https://t.co/OhJXrA2MSM</a></p>
 <p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1863610958460911850?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 2, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>While $1.5 seems very plausible at the moment, others made some big claims that ADA could peak at $6 during this cycle. AllInCrypto’s analyst <a href="https://x.com/RealAllinCrypto/status/1863709296870973779" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">based</a> this prediction on ADA’s behavior during the 2017 and 2021 bull runs. It’s worth noting that such a price tag would put Cardano’s market capitalization at over $210 billion. In the current environment, this sounds slightly exaggerated as this would make ADA the third-largest digital asset.</p>
<p>The post <a href="https://cryptopotato.com/big-cardano-price-predictions-as-ada-shoots-up-17-to-3-year-high/" rel="noopener noreferrer nofollow">Big Cardano Price Predictions as ADA Shoots Up 17% to 3-Year High</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Big Cardano Price Predictions as ADA Shoots Up 17% to 3-Year High

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