The Cardano blockchain’s native cryptocurrency, ADA, trades on the $1.12 mark on Monday. It has spiked greater than 150% within the final 30 days, attracting heavy bullish sentiments. ADA picked up steam after the cryptocurrency market rallied post-Trump’s victory in early November.
Bitcoin and different main altcoins touched new highs after Trump reclaimed the White Home, defeating his Democratic rival Kamala Harris. So, how did Cardano’s ADA carry out within the indices in 2024? Was its efficiency good, dangerous, or respectable? Let’s discover out!
Decoding Cardano ADA’s Efficiency in 2024
Cardano’s ADA noticed little to no worth spurts within the first three quarters of 2024 however modified the sport after October. Its efficiency spiked in This autumn this 12 months, and traders rode the bull within the charts. Merchants who took an entry place after Trump clinched the White Home noticed their investments greater than double.
The general efficiency of Cardano in 2024 has been good as ADA surged almost 90% year-to-date. It had reached a yearly excessive of $1.29 which greater than doubled traders’ cash this 12 months. Nonetheless, its worth has now cooled down and is transferring across the $1.12 vary.
Due to this fact, an funding of $10,000 made early this 12 months has became $19,000 in December 2024. That’s stellar returns in a 12 months as only a few monetary devices can double a dealer’s cash in a 12 months’s time. Cardano’s ADA has achieved that feat and its efficiency has been total good this 12 months.
Learn right here to know the tentative timeline on when Cardano may breach its all-time excessive of $3.09. ADA reached its ATH in September 2021 and it has been greater than three years because it did not reclaim its earlier glory. Merchants are hopeful that Trump’s presidency may push the cryptocurrency market to new heights. When that occurs, main altcoins like ADA may benefit from the bull market.
