- Cardano (ADA) has surged past $1 for the first time in over two years, gaining 200% in the past month and surpassing USDC in market capitalization to become the eighth-largest cryptocurrency.
- Analysts speculate ADA could reach $10 if it overcomes key resistance levels, potentially rivaling Ethereum’s market cap.
Cardano (ADA), one of the top-performing cryptocurrencies, has captured the spotlight by achieving a 23% daily surge, pushing its value above the $1 mark for the first time in over two years. This remarkable rally has solidified its position as the eighth-largest cryptocurrency, with a market capitalization nearing $40 billion, surpassing stablecoin USDC’s $38.8 billion.
ADA’s Meteoric Rise
The recent upward momentum of ADA began two weeks ago following a notable announcement by Charles Hoskinson, the founder of Input Output Global (IOG). Hoskinson revealed his intention to collaborate with the Trump administration in 2025 to shape a more favorable cryptocurrency policy in the United States. This sparked a 30% daily surge in ADA, driving its price to nearly $0.6.
Since then, Hoskinson’s cryptic hints and interactions have fueled ADA’s growth. Last weekend, the cryptocurrency reached $0.72, igniting speculation about whether it could replicate XRP’s dramatic rise to surpass $1. Following a brief consolidation at $0.8, ADA launched another leg of its rally, hitting $0.9 on Friday evening. Hours later, it broke past the $1 threshold and peaked at $1.15, a 2.5-year high, before slightly retracing to $1.08.
With a staggering 200% gain over the past month, ADA’s performance has been second only to Dogecoin, which soared by 230% among the top 15 cryptocurrencies.
Can ADA Hit $10?
The $1 milestone has fueled speculation among analysts about ADA’s potential trajectory. Some experts are suggesting an ambitious target of $10 in the coming months. Achieving this would mean a market capitalization of approximately $400 billion, placing Cardano in direct competition with Ethereum, which currently holds a similar valuation.
However, reaching $10 would require ADA to overcome multiple resistance levels, including its all-time high of $3.09 from September 2021 and the next key level at $3.5. According to a chart shared by the crypto analyst Beastlorion, these milestones are critical for ADA’s path toward double-digit territory.
The Road Ahead
While the idea of ADA hitting $10 is enticing, it is essential to consider market dynamics, investor sentiment, and broader cryptocurrency trends. If the bulls maintain their momentum and Cardano continues to deliver on technological developments and partnerships, the possibility of a $10 price point may not be far-fetched.
For now, Cardano’s recent surge signals strong bullish sentiment, positioning it as a standout performer in the ongoing crypto market rally. Whether it can maintain this momentum and scale new heights remains to be seen.