Cardano (ADA) is exhibiting steady growth in the market with a 19% rally this month. Despite market fluctuations, Cardano's history indicates its readiness to replicate past successes.
Cardano's Historical March Dynamics
According to Cryptorank data, Cardano has shown an average growth rate of 2.32% in March since its inception. March has been a relatively positive month for ADA, showing a split win-lose trend since 2018. In 2018, Cardano experienced a 50% negative growth, but in 2019, the ADA price increased by 62.2%, followed by corrections of 35.5% and 8.77%.
Cardano's Growth Potential
Despite a recent monthly decline, Cardano continues to present a bullish outlook. In 2019, the month closed with an 18.9% increase, followed by a 13.3% uptick the next year. The current 19% rally has placed ADA as the second-best performing March since its inception. If the current rare uptick continues, it might surpass the 2019 growth rate of over 62%.
Fundamental Factors and Future Prospects
As a proof-of-stake blockchain, Cardano has the fundamentals to justify its anticipated growth trend in the coming weeks. Asset managers are now filing for a Cardano ETF product with the U.S. Securities and Exchange Commission. Additionally, the Cardano protocol is undergoing impressive chain upgrades to enhance decentralization, making it one of the most promising for the next altcoin season. Other secondary factors include the general volume revival, open interest, and Cardano whale activities, which can influence short-term investor sentiment.
Cardano's prospects in March are promising for investors, despite the challenges of the current market. Its strong fundamental base, investor interest, and growing popularity among asset managers make Cardano one of the most significant cryptocurrencies for the future.
