Cardano's ADA Re-Enters the Top 10 Crypto Club as Price Soars Alongside Bitcoin, Ether

After weeks of price consolidation, Cardano's latest surge has allowed it to retake its position among the top 10 crypto club.

Cardano’s ADA has returned to the top 10 cryptocurrencies by market capitalization following a substantial double-digit rally on Nov. 8.

The broader crypto market gathered momentum on Friday as the U.S. 2024 presidential election results came in, showing clear victory for Donald Trump.

ADA Price Soars 13% in 24 Hours

After weeks of price consolidation, Cardano’s latest surge has allowed it to retake its position among the top 10 crypto club. ADA jumped above $0.44 on Friday to reach levels not seen since late July.

The token has added 13.2% over the last 24 hours, outshining the rest of the market and up by 24.5% in the last week.

Cardano was among the top 10 cryptos for a while, but it was knocked out earlier this year, giving way to Telegram-linked Toncoin (TON) and then Justin Sun’s TRON (TRX). But, ADA’s latest price move has pushed it back into the limelight.

Bitcoin Price at Record Highs, Crypto Market Cap Pushes $2.7 Trillion

The latest crypto market rally comes as Bitcoin, the largest cryptocurrency, set a new record high in the evening hours on Friday.

Bitcoin price reached levels around $77,000, buoyed by Donald Trump’s triumph in the U.S. presidential race. Trump has vowed to foster a crypto-friendly business environment, which is seen as bullish for the crypto market.

Meanwhile, the total crypto market capitalization rose by 0.8% over the last 24 hours and 9% over the last four days to hover at $2.7 trillion as of publication time.

ADA To $8? One Analyst Tips Massive Gains for Cardano Token

ADA’s bullish price action on Friday positions the token for further massive gains.

One crypto pundit by the name of Javon Marks believes ADA is on the verge of a parabolic surge. He tips $2.7709 as an initial breakout target for ADA, representing a roughly 531% climb from current price levels.

In addition, the analyst says ADA could appreciate 1,700% to $7.77 based on historical patterns.

In other words, the current ADA price of 44 cents could act as a launch pad for the layer-1’s continued ascent.

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