---
title: "Cardano (ADA) Shoots Up by 23% Daily to Above $1, Surpasses USDC"
url: https://diffcoin.com/cardano-ada-shoots-up-by-23-daily-to-above-1-surpasses-usdc/
description: "ADA is the top performer from the larger-cap alts today."
published: 2024-11-23
updated: 2024-11-23
author: "Mila"
site: "Diffcoin"
---

# Cardano (ADA) Shoots Up by 23% Daily to Above $1, Surpasses USDC

After the recent consolidation, Cardano resumed its recent bull run in the past 12-24 hours with another double-digit surge that pushed it to over $1 for the first time in over two years.

In the process, its market cap has soared to almost $40 billion, according to CoinGecko, making ADA the eighth-largest cryptocurrency by that metric after it surpassed USDC’s $38.8 billion.

![ADAUSD. Source: TradingView](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxODM1IDgxOSIgd2lkdGg9IjE4MzUiIGhlaWdodD0iODE5IiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyNCUyRjExJTJGQURBVVNELTIucG5nIiBkYXRhLXc9IjE4MzUiIGRhdGEtaD0iODE5IiBkYXRhLWJpcD0iIj48L3N2Zz4=)

ADAUSD. Source: TradingView

## ADA’s Recent Rally

Perhaps it all started two weeks ago when IOG’s founder, Charles Hoskinson, said he will spend a portion of his time in 2025 working alongside the Trump administration on establishing a more favorable and fair crypto policy in the US. At the time, ADA exploded by 30% daily and neared $0.6.

Hoskinson continued with his interactions and hints about something big in the following weeks, and ADA kept climbing. It surpassed $0.72 last weekend, and speculations started to emerge about whether it could “do an XRP” and shoot above $1.

It consolidated at around $0.8 for a few days but initiated another leg-up on Friday evening that pushed it to $0.9. The bulls kept their foot on the gas pedal, and ADA indeed blasted through the $1 milestone hours ago. Moreover, the asset jumped to a 2.5-year peak of $1.15 earlier this morning before retracing slightly to $1.08.

ADA has gained over 200% in the past month, which is second only to Dogecoin’s 230% surge from the top 15 cryptocurrencies.

## Can it Go to $10?

With $1 already hit during this cycle, crypto analysts and commentators started to highlight new targets for ADA for the upcoming months. Interestingly, the most frequently mentioned one is quite optimistic – $10.

> See you at $10 [#ADA](https://twitter.com/hashtag/ADA?src=hash&ref_src=twsrc%5Etfw)
> 
> — Deezy.eth (@deezy_BTC) [November 23, 2024](https://twitter.com/deezy_BTC/status/1860129387812704390?ref_src=twsrc%5Etfw)

If ADA’s supply remains the same as it is now, a price tag of $10 would mean that its market capitalization will skyrocket to roughly $400 billion. To put things into perspective, this would help ADA rival ETH, which now has such a market cap.

To get there, though, ADA would need to overcome several resistance levels on its way, including the all-time high of September 2021 of $3.09 (CoinGecko data) and $3.5, according to Beastlorion, who shared an interesting chart on X.

> [$ADA](https://twitter.com/search?q=%24ADA&src=ctag&ref_src=twsrc%5Etfw) Bull target this cycle: I’m thinking $3.5 on the low side, $10 on the high side.
> 
> What do you think? [pic.twitter.com/83zLRLx41M](https://t.co/83zLRLx41M)
> 
> — Beastlorion️ (@Beastlyorion) [November 20, 2024](https://twitter.com/Beastlyorion/status/1859175576981934332?ref_src=twsrc%5Etfw)

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