- Cardano currently leads the ongoing altcoin surge ahead of Bitcoin.
- Price forecasts for the coin show mixed sentiment amid the battle for ATH.
Cardano (ADA) trades as the best performing cryptocurrency among the top 10 digital assets by market capitalization. ADA outperformed Bitcoin (BTC), the leading cryptocurrency, and even Solana (SOL) on daily and weekly charts.
Cardano ADA performance comparison with Bitcoin and Solana
According to MarketCap, ADA is currently ranked as the 9th largest cryptocurrency with a market cap of $37.39 billion. The coin has seen an increase of over 10% in the last 24 hours and is up 18.7% in the past seven days. 24-hour trading volume also rose 16.2% to $1.66 billion, indicating growing investor confidence.
On the other hand, the price of Bitcoin has only increased 1.1% in the last 24 hours and 0.61% during the past week. Also, Solana rose by 2.08% in the last 24 hours and 10.6% on the weekly charts.
ADA’s latest surge follows a general recovery in the broader crypto market. Global crypto market capitalization has returned $3.55 trillion, and Bitcoin is getting closer to the $97,000 mark.
The rise is likely due to the upcoming inauguration of Donald Trump as the US President on January 20, 2025. Crypto enthusiasts are expecting a positive turn in the market driven by Trump’s pro-crypto stance. Under Trump’s new administration, Cardano and other cryptocurrencies, including altcoins and memecoins, could reach new highs.
Trump’s campaign promises to reduce regulatory challenges have fueled intense interest in crypto policy changes expected in his cabinet. According to CNF updateTrump has named Bitcoin advocate Howard Lutnick as Secretary of Commerce. His focus as Secretary of Commerce will be on economic innovation and job creation once the Senate confirms the nomination.
In addition, the president-elect is reportedly planning to create a strategic Bitcoin reserve. The move aligns with a bill proposed by Senator Cynthia Lummis. VanEck, a property investment firm, claims America’s Bitcoin reserve could reduce national debt by 35%. However, this depends on BTC reaching $42.3 million by 2049.
ADA targets $1.5
As for ADA, CoinCodex has predicted that the coin will continue to trade at current levels over the next few weeks. The platform predicted that ADA will reach the $1.50 mark on February 5, 2025. The price target of $1.5 will cause ADA to rise approximately 45.63% from current price levels.
Furthermore, CoinCodex forecasts ADA to reach $2.62 on March 15, 2025. This bold target represents a 154.37% upside from current levels.
These bold projects of CoinCodex are aligned with those of other market analysts. As revealed in CNF reportAnalytics Insight analysts predicted that Cardano could rise towards $5 by the first quarter of 2025. Also, crypto analyst Dan Gambardello predicted a price range between $3 and $14 for ADA in 2025.
Despite the recent upward price trend and optimistic forecasts, Changelly analysts are slightly bearish on ADA. They hinted that the ADA would face a decline over the next few months. The platform predicts that ADA will trade at $1.17, $1.11 and $1.06 in January, February and March 2025, respectively.
