Can Cardano (ADA) Hit $1?

Krutika Adani

Whales have increased their holdings in ADA and now control 6.71% of the token supply.

There has been an increase in TVL as well as daily trading volume.

Currently, ADA trades below $0.50, but a price breakout is expected once it crosses $0.52.

If such bullish trends and adoption continue, ADA might break $1 within 2024.

However, a decline in daily active addresses poses a challenge.