Although the Cardano price slumped 6% during Boxing Day trading, analysts see the ADA price soaring to a new all-time high in January 2025 if all the outlined plans play out accordingly.
According to technical analysts who believe that Cardano is an undervalued digital asset due to its highly developer-centric activities, the ADA price could still go further lower before it regains ground in January 2025. Cardano price has experienced a continuous downward trend during most of December, falling to lows of $0.86 from highs of $1.30 earlier on. With bears firmly in control, the ADA price is facing a retest of the $0.80 level that could persist in the next few days, making a 57% drop in value.
Q4 2024: The Best so Far for Cardano
The biggest Cardano price rally so far this year was during the fourth quarter since ADA maintained a plateau around the $0.6 level from January to September. However, the coin broke out on November 15 before going on to hit this year’s all-time high of $1.32 on December 7, according to data from CoinMarketCap. After the ATH in early December, ADA price struggled to retrace the level, and it is currently down 3.84% to $0.8731. During the period under review, Cardano’s price hovered between lows of $0.8628 and highs of $0.9246.
Several Plans in Place to Promote ADA in 2025
Despite the shaky nature of the crypto market during the last week, analysts predict a rosy picture, suggesting an ADA price soar at the beginning of 2025 as Cardano bulls consolidate. According to the experts, there is a lineup of fundamentals that are poised to drive the Cardano price higher in January 2025.
Among the key issues is the pursuit of a Cardano Bitcoin DeFi program, with Cardano set to transform into a Bitcoin L2 protocol. There are also plans to switch to decentralized governance after the Chang fork upgrade, potential collaboration with Ripple Labs, and the impact of Head, Marlowe, and Midnight Protocols.
There’s news about the protocol that Charles Hoskinson led Input Output Global (IOG), having several other products in the pipeline at the beginning of 2025 that are likely to influence the Cardano price despite the current slump positively. The organization is said to announce a number of positive announcements in 2025 that are poised to shift the protocol’s sentiment and drive the ADA price higher come January 2025. Moreover, the growing speculation that Cardano and Ripple could collaborate to create the RLUSD stablecoin could also positively impact the coin.
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Trump Inauguration Could Impact Cardano Price
Like all other players in the crypto industry, there is a lot of enthusiasm surrounding the inauguration of pro-crypto President-elect Donald Trump and a Republican-controlled Congress that could usher in the golden era of crypto. Industry players believe the January 20 inauguration will, among other things, accelerate the global adoption of cryptocurrencies with the anticipated signing of an executive order for a Bitcoin strategic reserve leading to a crypto Bull Run that will also impact the Cardano price.
Conclusion
While Bitcoin is expected to be a major beneficiary of the incoming Trump administration due to plans to create a US Strategic Bitcoin reserve fund, you cannot rule out the goodies spreading over to impact the ADA price also. The potential creation of a crypto-friendly regime due to the implementation of a clear crypto policy framework that could spell out bipartisan pro-crypto industry regulations will definitely benefit the greater cryptocurrency market. The Cardano price is set to soar due to the positive narratives the developer has put in place in readiness for a potential explosive price action in 2025 as all systems are set to go.
Frequently Asked Questions (FAQs)
What is so special about Cardano?
Cardano runs on a proof-of-stake blockchain, meaning it uses less energy compared to Bitcoin, which runs on a proof-of-work consensus, which makes it more energy efficient than Bitcoin.
Is Cardano better than Bitcoin?
Both Cardano and Bitcoin are cryptocurrencies operating on different blockchains. By being more energy efficient, Cardano is more scalable and supports more DApps than Bitcoin, but both have their pros and cons.
Is staking Cardano a good idea?
Staking ADA enables users to earn passive income to help secure the network. Cardano staking is safe, and there is now a downward trend to staking ADA.
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