On November 22, ADA, the native cryptocurrency of the Cardano network, surpassed the $1 barrier after 2 and a half years. At the time of this article, its price remains above that mark, trading around USD 1.06. 

The current price implies an increase of approximately 212% in the last 17 days, as can be seen in the following TradingView chart: 

Meanwhile, the current price of ADA has just crossed an important resistance zone at $1.06. In technical analysis of financial assets, resistances imply price levels where an asset encountered selling pressure in the past, stopping or hindering its rise.  

Currently, according to CoinMarketCap, ADA's market cap stands at nearly $40 billion, ranking eighth in crypto assets by that measure. 

Despite this movement, ADA still has a long way to go to reach its all-time high (ATH), in the area of ​​​​3.1 dollars, recorded on September 1, 2021. 

What factors drove Cardano's price?

This rise has occurred since November 5, following Donald Trump's victory in the US presidential elections over Kamala Harris, when ADA was trading around $0.30.  

Trump's victory, as the US president-elect who during his campaign expressed the greatest closeness to Bitcoin and cryptocurrencies, produced an upward climb in bitcoin, which influenced the rest of the market.  

This led to ADA, like most altcoins, seeing its prices dragged down by Bitcoin's bullish momentum. 

The last time Cardano came close to exceeding this figure in its market value was in mid-March 2024, when it reached $0.80. 

ADA's performance throughout 2024 was marked by a downward trend that kept it between $0.30 and $0.50 approximately from late April to early November. 

Additionally, another catalyst that fueled ADA's bullish path may have been statements from Charles Hoskinson, co-founder of Cardano. 

Recently, Hoskinson said that during 2025 he will work with Washington DC legislators to “promote and facilitate cryptocurrency policies” in the new Trump administration.