Cardano

2024

Avalanche

Daily

<a href="https://cryptoticker.io/en/ada-crash-to-0-bitcoin-halving">Cardano price</a> has seen significant increases in recent weeks, although not to the extent seen with some other altcoins. Nonetheless, there is potential for ADA to experience substantial gains in the coming months. The question remains: could Cardano's price potentially increase tenfold in 2024 and beyond?&nbsp;
<h2 id="how-has-the-cardano-price-moved-in-recent-weeks">How has the Cardano price moved in recent weeks?</h2>
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 <img style="aspect-ratio:1814/812;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/ADAUSD_2024_04_07_12_07_09_5fdf040141.png" alt="ADAUSD_2024-04-07_12-07-09.png" width="1814" height="812">
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 ADA/USD Daily Chart- <a href="https://www.tradingview.com/symbols/ADAUSD/?aff_id=127958">TradingView</a>
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Currently, <a href="https://coinmarketcap.com/currencies/cardano/">the price of Cardano (ADA) stands at $0.591508</a>, with a 24-hour trading volume of $410.21 million, a market capitalization of $21.06 billion, and a market dominance of 0.81%. Over the last 24 hours, the ADA price has increased by 1.64%.
<a href="https://cryptoticker.io/en/cardano-price-prediction-can-ada-reach-5-soon">Cardano achieved its highest price</a> on September 2, 2021, reaching an all-time high of $3.10. Conversely, its lowest recorded price occurred on October 1, 2017, at an all-time low of $0.017354. Since reaching its all-time high, Cardano's price has dropped to a cycle low of $0.234392 and rebounded to a cycle high of $0.806108.
The sentiment for Cardano price prediction is currently bearish, while the Fear &amp; Greed Index indicates a value of 78, signifying extreme greed among investors.
As for supply metrics, Cardano's circulating supply is 35.60 billion ADA out of a maximum supply of 45.00 billion ADA. The current yearly supply inflation rate is 5.26%, resulting in the creation of 1.78 billion ADA over the past year.
<h2 id="why-didn-t-the-ada-price-rise-so-explosively">Why didn't the ADA price rise so explosively?</h2>
The Cardano (ADA) price experienced significant growth; however, it was overshadowed by the substantial price surges seen in other altcoins such as Solana, Avalanche, Dogecoin, and Shiba Inu. While explosive price movements in meme coins during bull runs have become commonplace, Solana and Avalanche are benefiting from a rapid increase in decentralized applications and are seen as competitors to Ethereum.
In contrast, Cardano has somewhat lost its hype. The network was long regarded as Ethereum's strongest competitor, touted to replace Ethereum due to its superior technical features. Despite this, Cardano's growth trajectory remains impressive, and currently, the ADA token may still be significantly undervalued.
<h2 id="is-a-10x-surge-in-the-cardano-price-possible-in-the-upcoming-months">Is a 10x surge in the Cardano price possible in the upcoming months?</h2>
Cardano's price could continue to exhibit significant upward potential in the coming weeks and months. Especially when a cryptocurrency, despite not performing as strongly as other coins, remains in collective memory, substantial price increases are indeed possible.
Yet, predicting a 10x surge in the Cardano (ADA) price in the upcoming months appears unlikely based on current trends and market conditions. While the ADA price has shown a 53% increase over the past year and is trading above the 200-day simple moving average, it has been outperformed by 61% of the top 100 crypto assets during this period.
Additionally, ADA has been overshadowed by the strong performance of Bitcoin and Ethereum. Recent market activity reflects a mixed picture, with only 14 green trading days out of the last 30 days, indicating some volatility and uncertainty.&nbsp;
Furthermore, ADA remains significantly down (-81%) from its all-time high, suggesting a substantial recovery would be necessary for a 10x increase. With medium liquidity based on its market capitalization and a yearly inflation rate of 5.26%, achieving a 10x surge in ADA's price in the near term seems improbable.&nbsp;
Realistically, such a dramatic increase may require longer-term developments and market shifts, possibly extending beyond the upcoming months and into the years ahead.
A move to new all-time highs for Cardano could be achievable within this year. The ADA token may rise substantially above the $3 mark. As for surpassing $5 or even approaching $10, it's challenging to predict. However, this may likely take until at least 2025.
Cardano's historical performance highlights significant fluctuations in its price over the years. In 2017, Cardano had its best year, with the ADA price skyrocketing by 2,779.80% from $0.024970 to $0.719072.&nbsp;
Conversely, 2018 marked the worst year for Cardano, witnessing a sharp decline of -94.29% from $0.719072 to $0.041067. On average, Cardano has demonstrated a yearly growth rate of 542.83% over the past 8 years. Interestingly, Cardano tends to perform exceptionally well in the fourth quarter, with an average gain of 406.42%, while showing its weakest performance in the third quarter with an average loss of -5.62%. These trends provide valuable insights into Cardano's historical price behavior and seasonal patterns.

Is a 10x surge in the Cardano price possible in the upcoming months?

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