Cardano ADA was recently surpassed on the top-10 cryptocurrencies by market cap by Tron TRX. ADA had a bearish start to August that saw it tumble significantly in price. However, the asset appears to be rebounding, surging 8% on Wednesday and regaining ground on TRX. With its latest jump, will momentum carry Cardano’s ADA back over Tron on the list?

ADA is experiencing momentum in all aspects over the last 24 hours. The asset is not only up in price, but in market cap and trading activity. The token’s market cap is up 8% today, and its trading volume in 24 hours is up 46%. During the past week, ADA is up 10%, signaling an ongoing rebound from its slump in early August.

Despite ADA’s slow price approach recently, it continues to perform at its best on-chain performance. According to the data shared by Into the Block, Cardano continues to process nearly $7.2 billion in transactions daily, and that number has risen this week. The data indicates Cardano’s stable position despite the token’s moderate price performance and approach.

Will Cardano ADA Pass TRX Again and hit $0.50?

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Most investors are waiting for ADA to climb above the $1 mark and eventually breach its all-time high of $3.09. The leading on-chain metrics and price prediction firm CoinCodex has painted a bullish picture for Cardano’s ADA. According to the price prediction, ADA could breach its ATH of $3.09 and reach a new high of $3.23 in 2029. That’s another five years from today and is considered a long-term investment.

In terms of immediate future predictions, ADA’s recent rise could mean the asset is headed back to $0.50. The coin hasn’t reached that high since the March 2024 crypto boom. If Cardano can first breach $0.40 in the next few weeks and successfully stay above it, $0.50 could be reachable by the end of the year, per analysts. Cardano ADA reaching $1 is a possibility, but likely not until 2025.