The entire cryptocurrency market was seen drowning in red. The king coin, along with a number of assets, was looking at massive losses. Cardano (ADA) wasn’t too far behind. The asset was seen enduring a drop of more than 4% over the past 24 hours. At the time of writing, ADA was trading at $0.7748. Just earlier today, the asset was trading at a high of $0.8269 before dropping to a low of $0.7691.
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It should be noted that the asset also encountered major declines over the past week and month as well. ADA dropped by nearly 30% throughout the last 30 days. This should, however, not negate the fact that the asset recorded a 21% rise last year. ADA was trading at a low of $0.2799 before it jumped to a high of $1.32. Despite this rise, the altcoin is far from reclaiming its peak. Cardano’s ADA hit an all-time high of $3.10 in September of 2021. At its current price, the asset is 74% below this milestone.
Cardano Investors Are Bullish
The asset’s latest drop in price did not shake its investors. According to the Community Sentiment by CoinMarketCap, a significant number of ADA investors were positive about the altcoin. Out of 119.8K votes, 89% of them were optimistic about the asset’s potential rise in the future. Meanwhile, 11% were skeptical about the same.
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Price Prediction
Cardano investors are all set to pocket major gains. According to data from CoinCodex, ADA is expected to trade at a high of $0.98143 on the final day of this month. The asset will record a series of increases throughout the past week of February. On February 28, ADA will encounter a surge of 25% bringing massive gains to its investors.
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