It has certainly been a difficult week for the cryptocurrency sector. Despite a November surge catapulting a plethora of tokens, the final two weeks of December have tested their merit. Although Cardano (ADA) has been one of the toughest affected, the asset is still expected to return to the $2 mark.
The cryptocurrency market cap plummeted by $128 billion on Friday. Although it was able to stand firm at $3.28 trillion, it has struggled to fend off increased liquidation during the holiday season. Overall, the market is expected to turn around with several assets poised to lead the way when 2024 comes to an end.
Also Read: Cardano: Can ADA Continue November Surge to $5 in 2025?
Cardano To Recover From December Drop: Here’s When ADA Will Eye Trip Back to $2
The digital asset market reached a new plateau over the course of 2024. With the United States issuing its inaugural crypto-based ETFs and Donald Trump signifying the first true pro-crypto president, the asset class looks to be on the up and up. That optimism is fueled by nothing more than Bitcoin’s ascension to a six-figure price for the first time in its history.
However, the leading cryptocurrency and many others took a notable step back on Friday. Although traders are notably concerned, it doesn’t deter from the expectation as the new year approaches. One of the biggest affected in Cardano, although ADA is still projected to return to the $2 level.
Also Read: Cardano (ADA) Predicted to Breach All-Time High of $3.09
Over the last seven days, Cardano had dropped more than 19.5%, according to CoinMarketCap. The asset is up more than 11% in the last 30 days. However, it ended the week trading below the $1 level. That is set to change in 2025, and it could be poised to change rather quickly.
Cryptocurrency price prediction platform CoinCodex has stated the expectation that Cardano will return to $2 as early as February of next year. With January likely boosting the industry, ADA will likely get a 130% increase in the second month of the year.
That is set to be the first of an ongoing rally for the cryptocurrency. Indeed, analysts note that the asset will increase to a $3.22 high just a month later. That increase would denote a 260% jump from its current position. Altogether, 2025 is expected to see a $4.17 yearly high as ADA continues to reestablish itself.
