This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Cardano’s native token, ADA, has been performing exceptionally well in the cryptocurrency market. It has experienced a daily increase of 6%, a weekly surge of 50%, and a remarkable 60% growth in the past 14 days. Currently valued at around $0.60, ADA has defied the ongoing market correction.
Analysts, such as Tyler Strejilevich, are predicting continued growth for ADA. Strejilevich highlighted a recent bullish weekly cross, suggesting that it could trigger a massive price increase similar to the 6,000% surge observed in the past. This indicates a bullish future for ADA.
On-chain metrics further support the potential for ADA’s rally. The total volume locked (TVL) on Cardano has reached approximately $400 million, a significant increase from the $50 million recorded at the beginning of 2023. This indicates a growing interest and investment in Cardano.
Lucid and Dan Gambardello, both optimistic about ADA’s future, have set high price targets for the token. Lucid predicts ADA could reach an all-time high of $14, while Gambardello envisions a valuation of $11.
Overall, ADA’s recent performance, positive predictions, and on-chain metrics suggest a promising future for Cardano’s native token. With its impressive growth and potential for further rally, ADA continues to defy market trends and attract attention from investors.