Cardano's price rises 88% — Is the ADA bull run just beginning?

The price of Cardano (ADA) has increased by 88.8% from November 18 to December 3, reaching a nearly three-year high of $1.33. This price surge is partly due to the overall increase in the altcoin market, with the total market capitalization reaching $1.52 trillion on December 3. The strong increase in open interest for ADA futures also indicates confidence from investors and may signal a longer-term bullish trend.

Moreover, many analysts believe that despite the significant short-term increase, the ADA market is still gearing up for another price rally. ADA futures have traded at a 17% premium, reflecting a positive sentiment among investors. The current market capitalization of ADA has surpassed $44 billion, solidifying its position in the top 10 largest cryptocurrencies. Recent strong buying activity from ADA whales also supports this price increase, and many experts expect ADA to reach higher price levels in the near future. However, it is also important to pay attention to the possibility of short-term price corrections after such strong rallies.