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- Cardano is currently leading the ongoing altcoin rally ahead of Bitcoin.
- Price forecasts for the coin show mixed sentiments amid the fight for ATH.
Cardano (ADA) is trading as the best-performing cryptocurrency among the 10-largest digital assets by market capitalization. ADA has outperformed Bitcoin (BTC), the leading cryptocurrency, and even Solana (SOL) on the daily and weekly charts.
Comparing Cardano ADA’s Performance with Bitcoin and Solana
According to MarketCap data, ADA is currently ranked the 9th-largest crypto with a market capitalization of $37.39 billion. The coin has experienced over 10% surge in the last 24 hours and is up 18.7% in the past seven days. The 24-hour trading volume also increased by 16.2% to $1.66 billion, suggesting investors growing confidence.
On the other hand, Bitcoin’s price rose only 1.1% in the last 24 hours and 0.61% over the past week. Also, Solana increased by 2.08% in the last 24 hours and 10.6% in the weekly charts.
ADA’s latest rally follows a general recovery in the broader crypto market. The global crypto market cap has reclaimed $3.55 trillion, and Bitcoin is inching closer to the $97,000 mark.
The rally is likely due to the incoming Donald Trump’s inauguration as US President on January 20, 2025. Crypto enthusiasts anticipate a positive market turnaround spurred by Trump’s pro-crypto stance. Under Trump’s new administration, Cardano and other cryptocurrencies, including altcoins and memecoins, could rally to new highs.
Trump’s campaign promises to reduce regulatory challenges have sparked intense interest in crypto policy changes expected within his cabinet. According to a CNF update, Trump has appointed Bitcoin advocate Howard Lutnick as Commerce Secretary. His focus as Commerce Secretary will center on economic innovation and job creation once the Senate confirms the nomination.
Additionally, the President-elect is reportedly looking toward creating a Bitcoin strategic reserve. This move aligns with a bill proposed by Senator Cynthia Lummis. VanEck, an asset investment firm, claims a US Bitcoin reserve could cut national debt by 35%. However, this depends on BTC reaching $42.3 million by 2049.
ADA Targets $1.5
Regarding ADA, CoinCodex predicted that the coin will continue trading at current levels over the next few weeks. The platform predicted ADA to hit the $1.50 mark on February 5, 2025. The $1.5 price target will entail ADA rallying by roughly 45.63% from the current price levels.
Furthermore, CoinCodex predicts that ADA will reach $2.62 on March 15, 2025. This bold target represents a rally of 154.37% from current levels.
These bold projects from CoinCodex align with those from other market analysts. As disclosed in a CNF report, analysts at Analytics Insight predicted that Cardano may rally toward $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 price uptrend and optimistic forecasts, Changelly analysts are slightly bearish on ADA. They hinted that ADA will face a dip over the next few months. The platform predicts ADA will trade at $1.17, $1.11, and $1.06 in January, February, and March 2025, respectively.
