So, Cardano (ADA) is showing its full force this week, boosting the overall market’s attention. Currently, the price of ADA is up about 4.72% and is hovering around $0.6099, with the market capitalization remaining at $21,621,429,546. Talk about some serious benefits. Over the past week, the price of Cardano has surged by 14.71%, and there appears to be more to the cause. Keep your eyes peeled, everyone! Let’s take a closer look at this ADA price prediction article.
ADA Price Prediction: How has the ADA price moved recently?
So, today the price of Cardano is $0.6099, with a 24-hour trading volume of $1.36 billion. What is the market capitalization? It holds a market power of 1.04% with a whopping $20.61 billion. Not too shabby! Oh, and the price of ADA is up a solid 4.85% in the last day.
Let me rewind a bit. Cardano surged to a high of $3.10 on September 2, 2021. However, there have been lows, such as the low of $0.017354 on October 1, 2017. The lowest price since the peak is $0.234392 (cycle low) and the highest price since the peak is $0.676958 (cycle high).
Now, in terms of predictions, the mood surrounding Cardano price looks optimistic. And check this out. The Fear and Greed Index shows 72, showing more influence on greed. The future of ADA looks bright!
ADA Price Prediction: Why is Cardano price rising?
Reason 1: Cardano’s positive vibes stem from its burgeoning ecosystem, especially in decentralized finance (DeFi). According to the report, overall Value Locked (TVL) surged 166% quarter-on-quarter and 693% year-on-year thanks to partnerships with big names like Indigo and Minswap.
Reason 2: Cardano has also made waves in stablecoins, disrupting traditional finance with 673% year-on-year growth. Get ready. Cardano is on a mission to dominate!
Reason 3: Cardano is preparing for a major upgrade! Meet the minimum viable on-chain governance model as described in CIP-1694. CIP-1694 shakes things up with seven types of governance measures that require the consent of the SPO, Representative Representatives (DReps) or Constitutional Council (CC).
ADA Price Prediction: Is Cardano a good buy?
Cardano went through a price consolidation phase, falling to a 2024 low of $0.2406. But things are getting better! It is currently showing solid growth and is trading at $0.6035. And given the current bullish mood in the market, now may be the best time to jump on the ADA train. The price has not yet exploded, so it could be a smart move to secure ADA coins in the $0.60 range before the price rises further.
How to buy Cardano coins?
Bitget is a recommended platform for purchasing Cardano, known for its security and simple setup process. To buy ADA on Bitget, users need to register, complete KYC, and deposit funds to easily trade Cardano.
Featured Posts
You may also like