Cardano ADA’s DEX volume has surged past $26 million in the last 24 hours. Adding to this momentum, the network introduced a groundbreaking gasless transaction feature utilizing fluid tokens, enabling fee-free ADA transfers—a development that could significantly boost mainstream adoption.
With this in mind, crypto analyst Jebb projects a $7.80 price target for ADA in the current cycle. While some view this forecast as overly optimistic, a more moderate consensus among analysts suggests a range of $5 to $7 might be more attainable.
Jebb’s reasoning is from the fact that the Cardano ecosystem has caught the attention of major players, with Wall Street Bets reportedly accumulating ADA positions despite ongoing market uncertainties.
The ecosystem’s vitality is further evidenced by the success of SNEK, a Cardano-native meme token, which achieved $8 million in daily trading volume. Major exchanges are reportedly considering listing SNACK, potentially expanding its reach.
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ADA has demonstrated remarkable strength, outperforming 90% of the top 100 cryptocurrencies in trading volume, including industry giant Binance Coin.
With Bitcoin dominance holding at 56.5%, altcoins like ADA continue to show resilience. The approval of XRP’s RL-USD pairing could influence the broader stablecoin landscape, potentially affecting ADA’s market position.
According to Jebb, while the $7-$7.80 target appears ambitious, it’s not entirely unrealistic given ADA’s historical performance and current market dynamics. However, more extreme predictions ranging from $30 to $50 seem less grounded in market fundamentals.
The end of December could prove particularly significant for altcoins, though success will likely require patient accumulation during market dips and a long-term holding strategy.
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