Cardano (ADA) is among the market’s most popular and developmentally active cryptocurrency projects. The asset has struggled to gain momentum over the last few years, experiencing a significant dip in price since its 2021 highs.
Why Has Cardano Struggled?
ADA’s lackluster performance over the last few years could be due to the bearish market sentiment that has prevailed since the 2022 market crash. Investor sentiment around ADA has been low, and growth has stagnated.
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Despite the poor performance, ADA remains one of the most popular cryptocurrency projects. Let’s find out how high the asset’s price could go if the project’s market cap hits $500 billion.
ADA’s Price if Market Cap Hits $500 Billion
ADA currently has a market cap of about $13.8 billion and is the 11th largest cryptocurrency project. The project was once among the top 10 cryptocurrencies by market cap, but the last few years have pulled ADA down to the 11th spot.
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There are about 35.68 billion ADA tokens in circulation right now. If Cardano’s market cap hits $500 billion and its supply remains the same, the price of each token will reach about $14.01. Hitting $14.01 from current price levels will translate to a rally of about 3586.84%. Reaching this price point will also be a new all-time high for Cardano (ADA).
When Will The AsseT Hit $14.01?
According to Changelly analysts, ADA could hit the $14.01 mark in December 2033, nearly nine years from now.
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Telegaon also paints a similar picture for ADA. The platform anticipates the asset to hit the $14 mark sometime between 2030 and 2035, in line with Changelly’s prediction.
