Cardano (ADA) has struggled to maintain itself in the top 10. The asset is the 10th largest cryptocurrency, with a market cap of $13.7 billion.
But Tron’s TRX isn’t too far away and is, in fact, on the verge of taking down ADA. However, the altcoin surged by 2.11% over the past 24 hours. ADA went from a low of $0.369 to a high of $0.386. At press time, the asset was trading at $0.3813.
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Cardano’s Recent Performance
In addition to the current rise, Cardano has surged by 14% throughout the past week. Despite this rise, a majority of the asset’s holders were seen drowning in loss.
At ADA’s current price, 71% of the altcoin’s investors were at a loss, while only 23% were enjoying gains. It should be noted that 72% of the asset’s investors have been holding ADA for over a year.
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Is $5 An Unrealistic Milestone?
Considering Cardano’s current price level, $5 does seem far-fetched. The asset’s all-time high was achieved quite some time ago.
According to CoinMarketCap, Cardano’s previous ATH was set on September 2, 2021, when the price of ADA reached $3.10. ADA’s current price is 88.18% less expensive than its previous all-time high.
Future Predictions for Cardano
ADA is anticipated to hit the $5 threshold in the upcoming years, per Changelly. In 2031, the asset will soar to a peak of $5. However, May 2031 is anticipated to see this accomplished.
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The experts predicted that Cardano’s maximum price will be $5.15 in May 2031. Even though it takes a couple of years for the asset to get there, investors with patience can reap its benefits.