The Cardano blockchain’s native cryptocurrency, ADA, climbed above the $1 mark this month after nearly two and a half years. It dipped below $1 in April 2022 and took 30 months to reclaim its lost territory. Its price has once again dipped to $0.92 this week, sending fears that a slump might occur.
Cardano’s ADA hit an all-time high of $3.09 in September 2021 and is down 70% from its ATH. It still has a long way to go before breaching its ATH, requiring the support of many more bull runs. However, a leading analytical firm has predicted that Cardano’s native token ADA could breach its ATH before the decade’s end.
In this article, we will highlight a tentative timeline for when Cardano’s ADA could trade above its ATH.
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Cardano: When Will ADA Breach It’s All-Time High of $3.09?
Leading on-chain metrics and price prediction firm CoinCodex has painted a rosy picture for Cardano’s ADA. According to the price prediction, the altcoin could breach its ATH of $3.09 five years from today in 2029. The forecast estimates that ADA could trade at an average price of $3.32 in 2029.
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That’s an uptick and return on investment (ROI) of approximately 300% from its current price of $0.92. Therefore, if the prediction is accurate, an investment of $1,000 could turn into $4,000 in the next five years.
“Forecasts for 2029 suggest that ADA will experience significant growth, with expected fluctuation ranging from $2.85 to $3.32. Investors might anticipate a potential ROI of 300%, aligning with a bullish outlook for the year,” read the price prediction.
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Nonetheless, the cryptocurrency market is highly volatile and can cut both ways, causing investors to lose money. It is advised to do thorough research before taking an entry position into Cardano’s ADA and to trade at your own risk.