Cardano (ADA) was on the sidelines for quite some time due to the advent of newer assets in the market. But things changed for the cryptocurrency throughout the past year. The asset was trading at a low of $0.2799 just last year but managed to surge to a high of $1.32 marking an annual growth of 92%. This brought increased hope to the ADA market. While the asset continues its hot streak, the community is hoping to witness a bullish trend during the coming month as well.
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Cardano Remains Below $1
ADA emerged as one of the top performers of the day with a massive rise of 8.17% over the past 24 hours. At the time of writing, the asset was priced at $0.9581. Despite its significant growth over the past month, the asset remains 69% below its all-time high of $3.10. ADA achieved this peak about three years ago during the 2021 rally.
The asset’s latest uptick was linked to a recent ETF filing. In what appears to be an attempt to push the limits of the new SEC leadership, Tuttle Capital Management has applied for a number of exotic leveraged bitcoin ETFs. For cryptocurrencies like XRP, Cardano, and the Solana-based Bonk (BONK) meme currency, it has suggested 10 2X long ETFs.
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Can The Altcoin Jump Above $1?
According to data from CoinCodex, ADA will be carrying its current trend onto the coming month as well. The firm revealed that the altcoin will be trading slightly higher than its current price level. Cardano will begin February at a price range of $0.980228. This further marks a 1.92% rise from its existing price. While this may not seem like a lot, the asset seems to be finding its way above $1 slowly.
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