Cardano has re-entered the global top ten cryptocurrencies, pushed by a market capitalization of $15 billion. This development follows a sharp price jump of 15% over the past 24 hours, as well as a remarkable 24.56% increase over the past week.

Currently trading at $0.4281, $ADA
recently touched $0.44, its highest level since July. Analysts suggest that this recovery marks the beginning of a potentially bullish phase, positioning Cardano for further gains.

Bullish momentum signals potential highs

Crypto analyst Javon Marks predicts that Cardano could be entering one of its most bullish phases. He identifies $2,7709 as the initial breakout target, marking a 531% rise from current levels. However, historical patterns suggest that the rally could extend further, with ADA potentially rising to $7.77, a 1,700% gain.

In his previous October analysis, Marks noted several bullish signals that suggest a continuation of the uptrend. He compared current market conditions to previous cycles when Cardano surpassed several price targets. According to Marks, a similar trajectory could lead to even more upside, potentially pushing ADA to $7.82, which would be a rise of more than 2030%.

In support of this optimistic outlook, popular analyst account Zayk Charts highlighted the recent breakout of a falling wedge in Cardano's price movement. This pattern is considered a bullish reversal, indicating the end of the bearish phase and the beginning of a potential rally.

Zayk Charts expects the ADA price to rise 60-70% from current levels, which could push the token above $0.60 if the rally gains momentum.

Increased activity in Cardano development

Cardano's growth is not only reflected in its price, but also in its development activity. Recent data from Santiment, a blockchain analytics platform, places Cardano as the fourth most active blockchain in terms of development activity, behind only Internet Computer, #Chainlink and Hedera.

Santiment also noted the potential for #fomo (fear of missing out on something) for retailers to fuel further price growth. With Cardano up more than 25% over the past three days, retail traders may soon enter the market, further increasing demand.

Historically, such periods of heightened interest often lead to increased price volatility as more participants enter the market.

In addition, Santiment has seen a surge in whale activity on the Cardano network. In a single day, 697 transactions worth more than $100,000 were recorded, the highest level of whale activity since Sept. 4.

The number of daily active addresses (DAAs) on the network also rose to 37,892, further evidence of the growing interest in Cardano.
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Cardano ($ADA
) continues to attract the attention of crypto investors, having overcome the price mark of $0.43 for the first time since July. Over the past 3 days, quotes have risen by more than 25%, helped by a surge in activity on the network and an increase in the number of large #transactions . At the peak, 697 transactions with amounts over $100 thousand were recorded in 1 day - this is the maximum figure since September. This behavior of “whales” may signal their interest in further increasing the value of the digital asset.

In addition, it was noticed that 37.89 thousand unique ADA-addresses made transfers in a day, which was also a record since the beginning of September. This data emphasizes: the network is attracting not only large investors but also retail users, which keeps the blockchain active.

This surge can be attributed to improvements in Cardano's infrastructure, including the development of decentralized applications and work on attracting new projects to the ecosystem. Notably, the platform is actively improving its technology stack, providing more flexible and affordable solutions for developers and users.

However, experts warn: this growth may be temporary and potentially comes with the risk of a pullback, especially if new investors enter the market in an attempt not to miss the moment (#fomo ) after the US presidential election. Analysts note that ADA volatility remains high and the market could correct if bullish momentum begins to wane.

“Interestingly, Cardano's momentum fits into the broader context of growing interest in cryptocurrencies amid the market's recovery in recent weeks. That said, pressure from large holders can both support further growth and cause short-term fluctuations,” Santiment experts noted. Market observers are closely watching whether Cardano will be able to hold at these levels or whether the asset is waiting for another wave of correction.
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