Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
ADA Key Insights
Dan Gambardello predicts that if Cardano returns to its previous peak market value, its ADA price could reach about $2.60.
After a weak trend throughout August, the ADA is still hovering around $0.20.
Despite the decline in online activity, Cardano still has more than 4.5 million holders.
ADA price forecast linked to market value recovery
Cryptocurrency analyst Dan Gambardello's ADA price forecast shows that if market value returns to peak, Cardano's price may be close to $2.60. This price target is well above ADA's current market price of $0.20, meaning that the outlook is highly dependent on a major shift in cryptocurrency market sentiment and Cardano's demand.
Online data also adds another warning sign of caution. Although Cardano still has more than 4.5 million holders, decentralized finance (DeFi) liquidity and overall activity remain weak.
Gambardello builds its long-term Cardano outlook based on market value rather than simply benchmarking against ADA historical price records. 
This difference is critical because Cardano's circulation supply has increased from its peak in the previous cycle. Therefore, if the market value returns to the same level, its token price will be lower than in the previous cycle. Analysts set this theoretical price at about $2.60. At an ADA price close to $0.20, a rise to $2.60 requires an increase of about 1200%. This makes the goal a long-term scenario rather than a short-term technical forecast.
Gambardello also pointed out that Cardano has historically performed poorly during the cryptocurrency bear market, but will rebound significantly during periods of market strength. However, performance in past cycles does not guarantee a recurrence in the future. Cardano first needs to reverse its overall downward trend and attract stronger network and market demand.
ADA prices end their consecutive losses, but can they rebound?
The weakness in ADA prices has been particularly evident since the second week of August. The cryptocurrency has just completed a round of 10 consecutive days of daily declines from August 7 to 17. As of press time, Cardano's price was hovering at $1.174, a 17% discount from the month's high. 
Despite the recent correction, ADA prices have taken on a noteworthy pattern over the past two months. Although the cryptocurrency has been in a downward trend overall for several months, it has recently entered a rising channel after bottoming out in June. This may indicate that overall momentum is turning in favor of accumulation and long-term recovery. However, especially after the recent round of selling pressure subsided, there are no clear signs of strong accumulation.
ADA price movements are currently in line with Gambardello's assertion that the bear market is performing poorly. From an optimistic perspective, this could mean that ADA remains one of the most undervalued mainstream currencies.
Network performance reflects weak demand
For most mainstream cryptocurrencies, especially mainstream blockchain projects, network performance is closely related to organic demand. The same goes for Cardano, whose online activity has continued to decline for months. One of the key indicators reflecting this trend is Cardano's address activity. For reference, the number of active addresses peaked at 3.6 million in November 2021, but according to the latest data, it has now dropped to 189,900. 
Internet activity is in line with other key indicators such as TVL, which has also shown a steady downward trend for several months. In fact, TVL has dropped to levels it has been seen since the end of 2022.
Despite the cooling of Cardano's Internet activity and price movements, ADA token holder data still provides some confidence. ADA currently has more token holders than ever before, with Cardano token holders currently exceeding 4.5 million. 
The fact that Cardano currently has more ADA holders than ever before is persuasive in itself. This means that despite months of severe pressure on ADA prices, holders maintain a long-term outlook.
Conclusion
To sum up, the Cardano price forecast still points to long-term recovery, and holders are still optimistic despite facing short-term poor performance. Once the market enters the next bull market, whether ADA prices can rebound strongly is worthy of attention.
