Before the recent price pullback, the cryptocurrency Cardano (ADA) reached a new annual high, climbing to $0.67. Over the past 30 days, ADA has shown an impressive 77% growth.

For most of 2023, ADA's price remained stable. However, in June, the token's value dropped following charges brought by U.S. authorities against cryptocurrency exchanges Coinbase and Binance. A significant increase in ADA began towards the end of November, with the token's price increasing by approximately 175% since the beginning of the year.

In the last month, Cardano has notably increased its user base and the volume of decentralized applications (Dapps). For instance, the decentralized exchange Minswap increased its active addresses by more than 26,000 in a month, while the NFT trading platform JPG Store attracted 16,540 addresses.

Meanwhile, other cryptocurrencies, including Solana (SOL), Avalanche (AVAX), and Polkadot (DOT), are also experiencing price declines. At the same time, some altcoins like Ethereum (ETH) and XRP are showing only minor decreases, and BNB even increased by 4.8% in a day.

Analysts predict growth in the crypto market in 2024, which could be driven by the approval of a spot Bitcoin ETF and the upcoming Bitcoin halving. This could lead to a short-term altcoin growth season following a sharp rise in Bitcoin's price. However, Changelly analysts do not expect ADA to reach the $1 mark at the beginning of the year. They suggest that such growth might occur around June 2025.