CandleFocus This is how Cardano (ADA) performed in 2024 so far
2024-12-09
Author: Content Editor
Cardano (ADA) has seen significant growth this year, with its price surging by 90% since the beginning of 2024. The cryptocurrency's decentralized finance (DeFi) ecosystem has experienced explosive growth, with its total value locked increasing from $370 million to $602 million. Cardano has also surpassed 100 million total transactions and has seen the number of projects built on its platform reach 1,979. Whale activity and network accumulation have been drivers of ADA's price recovery, indicating a bullish sentiment. However, there have been intermittent inflows during the price rally, suggesting profit-taking. Cardano has also faced challenges, including a compromised account and a potential bearish price reversal. Despite these risks, analysts remain optimistic about Cardano's long-term outlook, predicting a new all-time high of $6 by 2025.
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