Cardano (ADA) is experiencing a bullish trend in December 2024, currently trading at $1.02, with expectations to reach $1.22 by the end of the month. The token has recently tripled its market cap, marking the highest trader profit rates in eight months. This positive momentum is driven by broader market optimism, including Bitcoin's surge toward $100K and improving sentiment across the crypto landscape.
Key developments include Cardano's enhanced Plutus upgrade, enabling cross-platform smart contracts, and governance capabilities introduced through the Chang hard fork earlier this year. These advancements have bolstered its utility and adoption, contributing to increased market confidence.
With 70% green days in the last month and a Fear & Greed Index showing "Greed" at 75, ADA is positioned as a promising asset for long-term holders.
