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Bitcoin continues the day with a 6% gain, keeping crypto investors smiling on the second day of the year. As the hours pass, the excitement among investors grows due to the anticipation of an ETF approval, which also strengthens their risk appetite. With the increasing demand, many cryptocurrencies have achieved double-digit gains in the last 24 hours. So, what are the expectations for ADA Coin?
How Much Will ADA Coin Be Worth?
With a market value of 22 billion dollars, ADA Coin is the eighth largest cryptocurrency and has drifted from its days in the top 4 during the ETH Merge period. Although it has not approached the price of over $3 at the end of 2021, it would not be surprising if it potentially exceeds this region in 2024. Depending on the peak cumulative value of cryptocurrencies, ADA Coin could establish its threshold above $3.
If cryptocurrencies can surpass $6 trillion, this could mean that the price of ADA Coin could see $5 and even higher. Aside from the increasing variety of cryptocurrencies, we must remember that in 2021, unlike before, there were many more crypto initiatives managed by professional teams in our lives.
In 2021, there were limited “Ethereum killers,” but in 2022 and 2023, many L1 and L2 networks distributed airdrops, released their tokens into circulation, and transitioned to the mainnet. The competition will heat up in 2024, and the price of ADA Coin will be full of surprises.
ADA Coin Price Prediction
Turning to the short and medium-term outlook, the price is currently finding buyers at $0.625. CEOs of companies awaiting ETF approval are sharing mysterious, exciting messages, and cryptocurrencies are therefore volatile. For some time, ADA Coin investors have been zigzagging in a narrow range and should see daily closings above $0.64.
If the barrier between $0.65 and $0.67 is overcome, ADA Coin could climb back to the range of $0.9 to $1.24 from the first half of 2022. Closures above this range would bring targets of $1.61 and $2.15 into the discussion. For now, investors are turning to riskier alternatives with the promise of higher returns, but it would not be surprising if liquidity eventually returns to major altcoins at some point.
