Cardano price has seen significant increases throughout 2024. The price increase for January 2025 will depend on a number of factors. ADA exhibits a strong correlation with Bitcoin, which could affect Cardano’s future price movements.
Cardano (ADA) is trading at $0.871074 and has seen a lot of volatility over the year. ADA has traded from a low of $0.2799 to a high of $1.32. Analysts note that Cardano remains an undervalued cryptocurrency amid increasing developer activity. While different targets for 2025 have been suggested, there is uncertainty about Cardano’s potential price increase in January 2025.
In the fourth quarter of 2024, Cardano recorded one of its biggest increases. While the ADA price traded at around $0.6 between January and September, it started to rise from November 15 and reached its yearly peak of $1.32 on December 7, according to CoinMarketCap data. The ADA price has slightly declined from these levels and is currently trading at $0.8731. It has fallen by 3.84% in the last 24 hours, fluctuating between $0.8628 and $0.9246. Despite the volatility seen in the past weeks, Cardano investors are expecting new highs due to the bull flag formation on the chart.
Some of the key factors that could push Cardano’s price higher in January 2025 include the impact of Cardano’s DeFi efforts with Bitcoin, the shift to decentralization after the Chang hard fork upgrade, the impact of the Hydra Head, Marlowe, and Midnight protocols, and a possible collaboration with Ripple. The protocol’s developer, Input Output Global (IOG), is working on several innovative products under the leadership of Charles Hoskinson. In particular, this organization could make positive announcements throughout the year, which could lead to an increase in the ADA price in January.
Some analysts predict that ADA could rise to $6 in the coming years. That’s a target above ADA’s all-time high of $3.10. However, that target seems within reach given its previous adoption channels. The cryptocurrency is among the top 10 cryptocurrencies and is strongly correlated with Bitcoin (BTC). Given this correlation, any increase in Bitcoin’s price could have an impact on ADA in the long run.
In light of these developments, Cardano is likely to recapture its 52-week high of $1.32 by the end of the year.
Whether Cardano’s price will rise in January 2025 will depend on the project’s continued development and the success of potential partnerships. Investors will be watching closely for the impact of these factors on the price.