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Is This The Right Time To Buy Cardano? ADA Price To Hit $5 this Bull Cycle

Written by: Delma Wilson

December 3, 2021

The month of December has begun on a healthy note. Which has enticed folks from the crypto town to be ambitious of the growth metrics of cryptos in the market. With the fourth quarter in its last leg, traders and hodlers from the business are keen on procuring digital assets prior to the bullish move in the alt season.

Cardano strides back to the limelight as the protocol witnesses a bustle in activities. The protocol achieves a new milestone of funding 500,000 trees, towards a greener initiative. Meanwhile, a protagonist from the business sheds light on the price projections of the digital asset. The proponent believes December to be a month of reversal.

Cardano Is No Longer A Dormant?

The Cardano network is witnessing a bustle in the metrics. According to sources, Cardano’s blocksize perimeter has increased from 64kb to 72kb. Which is an increase of 12.5%, the increase in block size would provide greater capacity for over 2 million users. 

Successively, a larger block size translates to more transactions, such as Plutus scripts, native tokens, metadata, and simple ADA payments which can fit into a block. Moreover, the blockchain firm has achieved the milestone of funding 500,000 trees. The achievement is halfway to planting 1 million trees to grow a Cardano forest. The feat has been materialized by Veritree. 

The environmentally cautious move by Cardano could take it ahead of other blockchains in terms of adoption and acceptance. This is in addition to the De-Fi protocols in the works, and a new milepost of transactions, which CoinPedia had earlier reported. 

Cardano (ADA) Price

The digital coin at press time is trading at $1.66 while scripting gains of 4.7%. The market cap of the ADA is presently hovering around $53,174,522,856. Whilst the trade volumes are at $3,386,270,398. The price of the altcoin had been moving in the bandwidth from $1.57 to $1.76 since the previous day. 

The crypto analyst cites that ADA has been making lower lows and lower highs on the charts. ADA against its BTC pair could test its support levels around 0.00002453 SATS prior to its trek to levels around 0.00005000. The proponent believes the support levels to be potential buy zones at around $1.5, before its climb to its target of around $1.793 and eventually to cliffs of $2.306   

Collectively, the Cardano network has been leveling, with a majority of the ADA being staked despite all the FUD. The makers believe Cardano to be a future-proof platform, which holds the potential to resist malicious hacks. With more projects being built on the protocol, we can expect Cardano to reclaim its due shares.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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