The cryptocurrency market is coping with hacks and market downturns. Amidst this, Cardano (ADA) was seen dropping. The ninth-largest cryptocurrency was following the general market development and plummeting. ADA has been drowning within the pink sea all through the month of February. The altcoin registered losses of 24.98% throughout the second month of the 12 months. Will the asset recuperate within the coming month of March?
Can Cardano Stay Secure?
Over the previous 24 hours, Cardano’s ADA recorded a drop of almost 5%. The asset went from buying and selling at a excessive of $0.7788 to a low of $0.728. On the time of writing, the asset was priced at $0.7347. ADA’s newest value follows a downfall of 8.92% all through the previous week.
Regardless of its present drop, it’s price noting that the altcoin had a major 12 months. Nevertheless, Cardano continues to commerce 76% beneath its all-time excessive. The asset hit a peak of $3.10 again in September of 2021. The altcoin has struggled to reclaim this milestone. However in 2024, ADA surged all the best way to a excessive of $1.32.
Will The Altcoin Declare $1?
In response to information from CoinCodex, ADA can be beginning a bullish chapter in March. The agency revealed that the asset will finish the month of February on be aware. On the final day of the month, Cardano will commerce at a excessive of $0.891, marking a 21% rise from its present value. As well as, on the primary day of March, the cryptocurrency can be priced at $0.854. This represents a 16% uptick.
Whereas the asset is all set to start out the month on be aware, the group expects ADA to hold this development all through the following 30 days. This may deliver a lot wanted respire to the Cardano group.
