Cardano Price Prediction: ADA to Reach New Levels in June?
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Cardano's price has grown significantly in recent weeks, though it hasn't skyrocketed like some other altcoins. Could Cardano's value increase tenfold in 2024 and beyond? Let's explore its potential.
Cardano is currently priced at $0.457953, with a 24-hour trading volume of $351.01 million, a market cap of $16.34 billion, and a market dominance of 0.62%. In the past 24 hours, ADA's price has dropped by 0.88%.
Cardano's highest price was $3.10 on September 2, 2021, and its lowest was $0.017354 on October 1, 2017. Since its peak, the lowest price was $0.234392, while the highest price since that low was $0.806108.
The current sentiment for Cardano's price prediction is bearish, and the Fear & Greed Index indicates a level of 78, suggesting extreme greed.
There are 35.69 billion ADA in circulation out of a maximum supply of 45 billion ADA. The annual supply inflation rate is 5.53%, with 1.87 billion ADA added in the last year.
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Why didn't the ADA price rise so explosively?
The Cardano (ADA) price has experienced notable growth, but it has been overshadowed by the significant surges of other altcoins like Solana, Avalanche, Dogecoin, and Shiba Inu.
While explosive price jumps in meme coins are common during bull markets, Solana and Avalanche are gaining traction due to a rapid increase in decentralized applications, positioning them as strong Ethereum competitors.
In contrast, Cardano has somewhat lost its hype. Once seen as Ethereum's strongest rival, with claims of potentially surpassing it due to superior technical features, Cardano's growth has slowed.
Nevertheless, its trajectory remains impressive, and ADA may still be significantly undervalued.
What is the future of Cardano?
Cardano (ADA) stands out as a prominent cryptocurrency, recognized for its robust ecosystem and continuous innovations aimed at enhancing decentralization.
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