Amid what has been a legendary bull rally for the crypto market, Cardano has broken through the $1.05 mark as trades ponder what could be next for ADA. The token has been one of the greatest beneficiaries of the market’s sentiment, as it has been surging throughout the month of November.
It is certainly not alone, as Ripple (XRP) has reached its highest price of the year, trading at the $1.75 mark. With Bitcoin also on the doorstep of a $100,000 all-time high, there is a growing belief that a host of cryptocurrencies could be quickly behind. Among the most promising tokens entering December is Cardano.
Also Read: Cardano Founder Makes Bold Bitcoin Prediction for 2025…
Cardano Price Prediction: ADA Hits $1 as Market Ponders What Could be Next
The month of November has been one to remember for the cryptocurrency market. With Donald Trump winning the 2024 US presidential election, pro-crypto policies are expected to take hold. Moreover, that has created some immensely positive sentiments regarding top tokens.
Leading the charge, like always, is Bitcoin. The top crypto by market cap reached a $99,000 all-time high last week, while it’s sitting on the doorstep of a six-figure record price. Moreover, XRP has followed suit. The asset has decoupled from BTC while reaching its highest price of the year.
Joining the surging assets is Cardano, with ADA surpassing the $1.05 psychological level. Now the market is anticipating what could be next. However, before theorizing, it is important to break down how the asset reached the vital price point.
Also Read: Cardano to $2? Why Some Think it Could Happen Before 2025
Over the last 30 days, the token is up a remarkable 196%, according to CoinMarketCap. Moreover, those gains extend over the last week, where it has increased more than 8% to reach its current price point. With its trading volume up over 40%, there are high hopes for where the asset could be headed.
The next key landmark price to keep an eye out for is $1.50, which is certainly possible. In order to verify a trip to that price point, ADA would first have to surpass the $1.20 level it has proven unable to break through. However, the next several months could be huge for the long-term success of Cardano.
By 2025’s arrival, there are expectations that it could offer a 50% return and set the stage for big things over the next 12 months. Specifically, many predict that the token could challenge its all-time high above the $3 mark. Set in 2021, the record would mean huge things for ADA and the greater crypto market.
