Cardano Ranks First in This Major Metric: ADA Bull Run Ahead?

The NFT Unicorn ADA_CB-2 Cardano Ranks First in This Major Metric: ADA Bull Run Ahead? Crypto News

TL;DR

  • Cardano’s ADA surpassed Bitcoin (BTC) and Ethereum (ETH) in one key metric.
  • Despite a recent 20% price drop, analysts predict a bullish future for ADA, including a potential “parabolic” spike to $10.

According to IntoTheBlock, Cardano’s ADA is currently the top cryptocurrency by development activity. It also enjoys the highest amount of weekly engagements.

Leading cryptocurrencies, such as Ethereum (ETH) and Bitcoin (BTC), were placed second and fifth, respectively. Avalanche (AVAX) is third, while the fourth place belongs to Litecoin (LTC).

This is not the first time ADA has surpassed its rivals in that field. As CryptoPotato reported in January, the asset topped the same ranking (on a monthly scale), outperforming Polkadot (DOT) and Kusama Network (KSM), which rounded up the top three list.

Despite its aforementioned success, ADA’s price has been well in the red in the past several days, plunging by 20% on a two-week basis.

The NFT Unicorn svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCA4NTIgNTc3IiB3aWR0aD0iODUyIiBoZWlnaHQ9IjU3NyIgZGF0YS11PSJodHRwcyUzQSUyRiUyRmNyeXB0b3BvdGF0by5jb20lMkZ3cC1jb250ZW50JTJGdXBsb2FkcyUyRjIwMjQlMkYwMyUyRkFEQS1QcmljZS0xLnBuZyIgZGF0YS13PSI4NTIiIGRhdGEtaD0iNTc3IiBkYXRhLWJpcD0iIj48L3N2Zz4= Cardano Ranks First in This Major Metric: ADA Bull Run Ahead? Crypto News
ADA Price, Source: CoinGecko

However, multiple analysts recently outlined bullish predictions for the asset, envisioning a new all-time high in the near future. 

One example is the X user Ali, who compared the token’s performance to that of its previous bull cycle. The analyst claimed this could lead to a “parabolic” spike to as high as $10.

Those willing to explore additional ADA forecasts, feel free to take a look at our dedicated video below:

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Source: CryptoPotato