Cardano's (CRYPTO: ADA) 56% surge over the past week has been fueled by bullish sentiment, community-driven developments, and speculation about high-profile partnerships.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Cardano (CRYPTO: ADA) | $0.835 | $28.9 billion | +13.8% | +55.9% |
| Bitcoin (CRYPTO: BTC) | $94,450 | $1.85 trillion | +2.9% | +7.6% |
| XRP (CRYPTO: XRP) | $1.13 | $64.3 billion | +2.9% | +67.7% |
Trader Notes: Crypto trader Scofield highlighted ADA's impressive momentum, describing the altcoin as "on fire."
$ADA On fire pic.twitter.com/HH7i4nGdUB
— Scofield (@Crypto_Scofield) November 20, 2024
Crypto chart analyst Ali Martinez noted ADA's 140% rise since October, setting a $6 price target.
I don't understand the hate towards #Cardano $ADA. You don't have to marry the coin, just trade it! Up 140% since this post, see you at $6.
— Ali (@ali_charts) November 20, 2024
CryptosRus echoed the $6 prediction, suggesting ADA could reach this target by late 2025 if it mirrors its last cycle.
The analysis hinted that the projection might be conservative, especially with rumors of a collaboration between Cardano and D.O.G.E following its speculated SpaceX partnership.
Statistics: IntoTheBlock data shows a 13.4% decline in large transactions and a 17% drop in daily active addresses.
High-value transactions ($100,000+) fell from 1,304 to 1,114 in a single day.
66% of ADA holders remain in profit, with 6% at breakeven.
Coinglass data indicates ADA long liquidations hit their lowest at $899,230 since Nov. 9.
Crypto chart analyst Ali Martinez cited IntoTheBlock data to show Cardano whales have been actively accumulating the coin over the past month. Holders of more than $10 million ADA increased positions by 145.7%.
Community News: In a recent Surprise Ask Me Anything session, Cardano founder Charles Hoskinson hinted at a possible integration with Ripple's ecosystem, emphasizing mutual benefits like enhanced DeFi components and liquidity layers.
Hoskinson's visit to SpaceX headquarters has further fueled speculation about a potential collaboration. While details remain confidential due to an non-disclosure agreement, Hoskinson promised future updates.
- Bitcoin Dominance Decline Expected Next Month, Analyst Projects 'Altseason' To Peak By March 2025
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