TL;DR

  • ADA, Cardano’s native token, has seen the most development activity in the past month and has become one of the trendiest cryptocurrencies, though Bitcoin has not made it onto this top list.
  • ADA has surged to $0.37, the highest since June 2023, with analysts predicting a potential continuation of its rally, with some price targets set as high as $10 to $30 by the end of 2024.
  • These optimistic price predictions for ADA are partly based on the expectation that global inflation could boost the cryptocurrency market’s capitalization to $10 trillion over the next decade.

The Top 10 List

Cardano’s native token – ADA – has been among the most trendy cryptocurrencies lately, capturing significant interest due to its price increase. As revealed by Santiment, the coin has witnessed the most development activity in the past 30 days.

Polkadot (DOT) and Kusama (KSM) follow in the next two positions, while the second-biggest digital asset by market capitalization – Ether (ETH) – is in ninth place. Interestingly, Bitcoin (BTC) has not found a spot on the list.

Is ADA Poised for a Further Rally?

Cardano’s coin recently soared above $0.37 (per CoinGecko’s data), representing the highest level since June 2023. Several analysts believe the price growth could continue in the following months, with some envisioning wild new targets.

The X (Twitter) user Ali suggested ADA has a chance to skyrocket to almost $10 by the end of 2024, whereas Lucid thinks the asset could explode to the astonishing $30. The latter based the forecast on the assumption that global inflation could act as a catalyst for the cryptocurrency market and push its capitalization to $10 trillion within the decade.

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