📈 Can ADA reach $10 or even $30 in 2024?

👉 As of the current time this year, the native token of the Cardano smart contract platform, ADA, has experienced an approximately 50% increase in price.

👉 A positive indicator is the growth in the total value locked (TVL) on its decentralized finance (DeFi) platform, starting the new year at just under 200 million ADA and currently reaching 682 million ADA.

With the current momentum, the outlook for ADA in 2024 appears extremely optimistic.

Let's delve deeper.

🔸ADA is currently trading at $0.382 after a more than 7.16% increase over the past week.

🔸The current consolidation phase of #Cardano "reflects a peculiar period from 2018-2020," meaning that if history repeats itself, it will continue to consolidate until July next year.

🔸However, this implies that $ADA could experience a breakthrough right after December and reach the $10 milestone by 2024.

But what has caused #ADA to rise after a long period of dormancy?

🚀Cardano has maintained a prominent position in the cryptocurrency development landscape after surpassing the "blockchain of blockchains" Polkadot ($DOT) and the public production environment Kusama ($KSM).

🚀Notably, institutional investors have placed their bets on Cardano, with data from the latest CoinShares Digital Asset Fund Flows report indicating that investment products based on Cardano saw over $800,000 in inflows last week, bringing their total assets under management to $8 million.

👉A robust and well-performing platform like $ADA deserves a higher position on the list. The steady and sure progress they are making at present holds promise for many positive developments in the future.