The cryptocurrency market is dealing with hacks and market downturns. Amidst this, Cardano (ADA) was seen dropping. The ninth-largest cryptocurrency was following the overall market trend and plummeting. ADA has been drowning in the red sea throughout the month of February. The altcoin registered losses of 24.98% during the second month of the year. Will the asset recuperate in the coming month of March?

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Can Cardano Remain Stable?

Over the past 24 hours, Cardano’s ADA recorded a drop of nearly 5%. The asset went from trading at a high of $0.7788 to a low of $0.728. At the time of writing, the asset was priced at $0.7347. ADA’s latest price follows a downfall of 8.92% throughout the past week.

Despite its current drop, it is worth noting that the altcoin had a significant year. However, Cardano continues to trade 76% below its all-time high. The asset hit a peak of $3.10 back in September of 2021. The altcoin has struggled to reclaim this milestone. But in 2024, ADA surged all the way to a high of $1.32.

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Will The Altcoin Claim $1?

According to data from CoinCodex, ADA will be starting a bullish chapter in March. The firm revealed that the asset will end the month of February on a good note. On the last day of the month, Cardano will trade at a high of $0.891, marking a 21% rise from its current price. In addition, on the first day of March, the cryptocurrency will be priced at $0.854. This represents a 16% uptick.

While the asset is all set to start the month on a good note, the community expects ADA to carry this trend throughout the next 30 days. This would bring much needed respire to the Cardano community.

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