Cryptocurrency Cardano ADA/USD Is Seeing a Surge in Interest and Price

With the sharp price rise, Cardano still trades well below the all-time highs reached in 2021. Here's a look at how much a $100 investment today could be worth if the coin hits new all-time highs.

Cryptocurrency Cardano (CRYPTO: ADA) is seeing a surge in interest and price, with the coin up 35% in the last seven days.

The price increase comes amid speculation about partnerships and founder Charles Hoskinson’s potential role as a crypto policy advisor in the Trump administration.

With the sharp price rise, Cardano still trades well below the all-time highs reached in 2021. Here's a look at how much a $100 investment today could be worth if the coin hits new all-time highs.

What Happened: Hoskinson, who was also a co-founder of Ethereum (CRYPTO: ETH), founded blockchain competitor Cardano after leaving his former project in 2014.

Hoskinson said in a recent Ask Me Anything session that Cardano could see a potential integration with Ripple's (CRYPTO: XRP) ecosystem.

The Cardano founder's recent visit to the SpaceX headquarters has also increased speculation that the cryptocurrency could collaborate with the space company led by Elon Musk. Hoskinson's name has also been mentioned as a possible crypto policy advisor for the upcoming Donald Trump administration.

Launched in 2017, Cardano is now the ninth most valuable cryptocurrency by market capitalization.

Cardano uses a proof-of-stake model for the blockchain and competes with Ethereum and other cryptocurrencies. The cryptocurrency uses less energy than Bitcoin (CRYPTO: BTC) and is considered one of the top energy-efficient blockchains.

After spiking in 2021, Cardano and other cryptocurrencies were hit hard in 2022 as the result of several cryptocurrency trading platforms and companies declaring bankruptcy.

While Cardano gained in 2023 and is up over 35% in the last week, the cryptocurrency has failed to get back to all-time highs.

That could change with growing interest and the realization of potential catalysts.

Cardano hit new one-month and one-year highs of $0.8466 on Wednesday, Nov. 20. The coin is up over 8% in the last seven days, outpacing gains from Bitcoin, Ethereum and Dogecoin (CRYPTO: DOGE).

Investing $100 in Cardano Today: At the time of writing, Cardano traded at $0.7995.

The cryptocurrency has traded between $0.2799 and $0.8466 over the last 52-weeks, a far cry from the all-time high of $3.10 hit in September 2021.

A $100 investment in Cardano today could buy 125.08 ADA.

If Cardano goes back to its all-time high of $3.10, the $100 investment would be worth $387.75, soaring 287.8% in value along the way.

While there's no guarantee Cardano will revisit its September 2021 highs, this reflection highlights how even a small investment can yield significant gains in the highly volatile cryptocurrency market.

This article was previously published by Benzinga and has been updated.

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