Cardano (ADA) could surge substantially to a new all-time high if its market cap reaches a remarkable target of $1 trillion.
The recent crypto downturn has had a negative impact on the price of Cardano (ADA). ADA, which traded above the $0.37 mark earlier this week, is currently hovering around the $0.35 level.
ADA is priced at $0.354 at press time, reflecting a decline of 3% in the weekly charts. Moreover, the coin is also down 56.13% from its yearly peak of $0.807, registered in March 2024.
In August, ADA dropped out of the top 10 cryptos by market cap. Currently, it ranks as the 11th-biggest cryptocurrency on CoinMarketCap, with a valuation of $12.4 billion.
Cardano Loses Top 10 Spot, But Investors Project ADA Will Hit $1T Market Cap
ADA’s underperformance has not dampened investors’ confidence in the asset. Many of its community members believe ADA will bounce back to reclaim its top 10 position.
Interestingly, some users have set an ambitious target for Cardano, projecting that the coin could eventually reach a valuation of $1 trillion.
Prominent crypto investor Lucid forecasted that ADA will be the first altcoin to hit a valuation of $1 trillion. According to Lucid, Cardano will achieve this remarkable feat by addressing the blockchain trilemma issue. Lucid said this would make Cardano more secure, decentralized, and scalable than other blockchains.
ADA Price If It Hits $1T Market Cap
As more investors expressed optimism in the projection, we analyzed how much an ADA coin could be worth if it ever hits a $1 trillion market cap.
Clinching the $1 trillion market cap requires ADA to surge 7,964% from its current market cap of $12.4 billion. Hence, applying this growth rate to ADA’s price would see it rise to $28.546 from $0.354. This analysis assumes that Cardano’s circulating supply remains stable at 34.98 billion.
If ADA trades at $28.546, a portfolio of 35,031 ADA coins could be valued at $1 million. Acquiring these 35,031 tokens would cost $12,400 at the current price.
It is worth noting that some analysts have projected that ADA could surge to the $28 range in the future. In April, The Crypto Basic estimated that ADA could trade at $27 if it replicates its post-2020 halving performance, which led to a 6,100% surge.
Additionally, analysts from Changelly projected that ADA could hit the $28 target between 2033 and 2040. These experts set ADA’s minimum, average, and maximum targets in January 2040 at $25.11, $26.60, and $30.66, respectively.
While this projection looks enticing, it is pivotal to clarify that these estimates do not constitute investment advice. Nonetheless, Cardano has demonstrated its prowess to record substantial price spikes, as witnessed in the 2020/2021 bull market.
Cardano investors are preparing for the second phase of the 2024/2025 bull run. They anticipate the project’s development activities and decentralized governance model could usher in a massive rally for ADA this season.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
