Ethereum

Cardano

2024

Solana

<p>As a major blockchain network, Cardana is currently underexposed to the market. Although it was launched in 2017, Cardano has been lagging behind its Ethereum competitors like Polkadot, Solana and other layer 1 blockchain networks, receiving no major traction from the crypto community.</p> 
<p>Now that the Bitcoin Halving 2024 ensued last weekend, experts are speculating whether Cardano would reach $5 in the post-halving crypto rally, which would be a 900% surge from its current dismal value of $0.51.&nbsp;</p> 
<p>Recent developments have turned out to be significant for Cardano as in 2023, its Total Value Locked (TVL) rose to 166% Quarter over Quarter (QoQ) and 693% Year over Year (YoY) , according to the <a href="https://messari.io/report/state-of-cardano-q4-2023" target="_blank" rel="noreferrer noopener" data-wpel-link="external">Q3 report by Messari</a>. Cardano currently has a TVL of $335 million, which is an increase of 570% from its lowest level nearly $50 million in early January.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img fetchpriority="high" decoding="async" width="1027" height="379" src="https://www.cryptotimes.io/wp-content/uploads/2024/04/Cardano-Price-Chart.png" alt="Cardano TVL - DeFillama" class="wp-image-151900">
 </figure>
</div> 
<p>However, it is still far behind leading blockchain ecosystems due to hardly any major dApps, DeFi integrations and lack of any key-performer assets that could drive massive activity. Despite these odds and its wild-west ecosystem, Cardano’s native currency has gained 30% throughout the past year. The ADA price is expected to break the previous all-time high of $3.10 and reach above $5 in the upcoming uptrend.&nbsp;</p> 
<h2 class="wp-block-heading" id="price-analysis-of-cardano-ada">Price Analysis of Cardano (ADA)</h2> 
<p>According to <a href="https://coinmarketcap.com/currencies/cardano/" target="_blank" rel="noreferrer noopener" data-wpel-link="external">Coinmarketcap data</a>, ADA is trading near $0.51 which is down 83% from it’s all-time high recorded in September 2021. While most of the leading crypto assets have managed to surge over 100% in the past year, ADA has roughly gained 30% in the meantime.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh7-us.googleusercontent.com/C33NVjCzXIasQdhhWEDDnj8eWGWdCTqMpG15cz66kFpl2OjC1pkROOI61rc7NSFKgmPBRrfbFCxv49RCyOzdyLIMDVC_yQXbnK69kBgAKZnXDr7CkeQq_uTa4Ma2cn06XpVPmrrBk6kljRQlCHeNhJY" alt="">
  <figcaption class="wp-element-caption">
   <em>Cardano (ADA) Price – Coinmarketcap</em>
  </figcaption>
 </figure>
</div> 
<p>Another bearish indicator for ADA price is that most of the altcoins have recovered from the cycle lows while it is still struggling to break the previous all-time high of $1 recorded in 2018. On the other hand, Ethereum and the native currency of other competitor blockchain networks are already approaching highs of the past cycle.&nbsp;</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p><strong><em>Also read: </em></strong><a href="https://www.cryptotimes.io/2024/04/12/will-ethereum-reach-10000-after-bitcoin-halving-2024/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal"><strong><em>Will Ethereum Reach $10,000 After Bitcoin Halving 2024?</em></strong></a></p> 
</blockquote> 
<h2 class="wp-block-heading" id="will-ada-hit-5-in-post-halving-rally">Will ADA Hit $5 in Post-Halving Rally?</h2> 
<p>The anticipation around ADA price is expectedly cold due to several factors but it could still spike to new high by coinciding with the gains in the post <a href="https://www.cryptoblogs.io/bitcoin-halving/" target="_blank" rel="noreferrer noopener" data-wpel-link="external">Bitcoin halving</a> price uptrend in 2024. If altcoins soar to new highs during next few months, ADA will surely march towards approaching the $1 price mark but it reaching $5 seems impractical considering its current price. ADA will need to surge approximately 900% or 10X from the current market price to attain the target.</p> 
<p>The current all-time high for ADA is $3.10 and in order to acclaim another high, it will even need to surge more than 500%. Although the current high is merely a 210% surge to its previous high recorded in 2018 so the potential high will be $6 for the hypothetical scenario.&nbsp;</p> 
<p>Whether or not ADA is going to hit $5 in this much anticipated upcoming cycle, what is certain is that the current altseason will bring back focus on Cardano. Cardano a $18 billion dollar market cap and its current negligible standing suggests that things&nbsp; are soon going to get better.&nbsp;</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>Read: <a href="https://www.cryptotimes.io/2024/04/22/will-bnb-hit-1000-post-bitcoin-halving-2024/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">Will BNB Hit $1000 Post Bitcoin Halving 2024?</a></p> 
</blockquote> 
<h2 class="wp-block-heading" id="faqs">FAQs</h2> 
<div class="wp-block-foxiz-elements-accordion gb-wrap gb-accordion yes-shadow" style="--border-width:0 0 0 0;--desktop-padding:15px 30px 15px 30px;--tablet-padding:10px 25px 10px 25px;--mobile-padding:10px 20px 10px 20px"> 
 <div class="gb-accordion-item wp-block-foxiz-elements-accordion-item"> 
  <div class="accordion-item-header"> 
   <h3 class="accordion-title gb-heading none-toc" id="strong-how-far-ada-price-could-reach-after-bitcoin-halving-2024-strong"><strong>How far ADA price could reach after Bitcoin halving 2024?</strong></h3> <i class="rbi rbi-angle-down gb-heading"></i> 
  </div> 
  <div class="accordion-item-content"> 
   <p>ADA price is expected to break its previous all-time high and reach $5 in the post-halving rally.</p> 
  </div> 
 </div> 
 <div class="gb-accordion-item wp-block-foxiz-elements-accordion-item"> 
  <div class="accordion-item-header"> 
   <h3 class="accordion-title gb-heading none-toc" id="strong-could-ada-price-reach-a-new-all-time-high-in-2024-strong"><strong>Could ADA price reach a new all-time high in 2024?</strong></h3> <i class="rbi rbi-angle-down gb-heading"></i> 
  </div> 
  <div class="accordion-item-content"> 
   <p>ADA price could potentially break to new all-time high in the upcoming Altseason around the end of 2024 and starting of 2025.&nbsp;</p> 
  </div> 
 </div> 
</div>

Could Cardano (ADA) Hit $5 In Post-halving Crypto Rally?

Table of Contents

The Crypto Times

Autres articles publiés le 23 avr. 2024

PayPal Proposed ‘Cryptoeconomic’ Rewards For Sustainable Bitcoin Miners

SKALE Network Solves Scalability, Q1 Adoption Soars On Gas-Less Blockchain

Philippines SEC Bans Binance App from Google, Apple Stores

Cryptocurrency Markets Tumble Amid Rising Middle East Tensions

Binance News: Binance Labs Invests in MEME Coin

Is It Too Late To Buy Popcat? POPCAT Price Erupts 223% In A Week And This GambleFi ICO Might Be T...

Join our free newsletter for daily crypto updates!