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

TL:DR;

• The native Cardano token has become one of the best performers today, rising to $1.3 to mark a multi-year peak.
• The community was quick to make the decision and sketch out some massive predictions as high as $6.

ADA Bullish Rally

ADA stood at around $0.32 on November 5, the day of the US election, and was relatively slow at first, even as the rest of the market posted impressive gains following Trump’s decisive victory.

However, its own rally began that weekend when IOG founder Charles Hoskinson said 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 United States.

The Cardano token skyrocketed to over $0.6 at that time, but more promising hints coming from Hoskinson sent it further north. ADA approached $1 and after some rejections managed to break above that level.

Its rally was stalled for a few days, but the bulls are back in charge now as they took ADA to just over $1.3 today, which was a 20% increase at one point. This became the highest price for the asset since mid-January 2022.

Consequently, ADA has surpassed USDC and is now the eighth largest cryptocurrency by market capitalization, as the metric surpasses $45 billion.

$6 ADA?

The breakout of ADA led many analysts to speculate on its future price growth. Some of the most modest predictions indicated that the asset could rise as high as $1.5 next, which seems achievable even in the short term, given the recent price developments in the market.

Popular analyst Ali also outlined the same target following the ADA price surge above $1.25, invalidating a previous forecast of a 20% correction.

Invalidated! $ADA then it goes to $1.50.

—Ali (@ali_charts) December 2, 2024

While $1.5 seems very plausible right now, others made big claims that ADA could peak at $6 during this cycle. AllInCrypto Analyst based this prediction about ADA’s behavior during the 2017 and 2021 bull runs. It is worth noting that such a price would put Cardano’s market capitalization at over $210 billion. In the current environment, this sounds a bit far-fetched as it would make ADA the third largest digital asset.