# Key Fundamentals Driving Cardano Price to $10
Cardano (ADA) is currently experiencing a surge in price amidst a bullish market trend, reaching $1.0478 with a 4.74% increase in the past 24 hours. The coin, previously trading below $0.3, now shows potential to surpass its All-Time High (ATH) of $3.099.
## Potential for $10 Price Target
Despite breaching the $1 mark, optimistic analysts believe that ADA’s current trajectory signifies the beginning of a positive trend towards reaching the $10 price mark in this bull cycle.
## Factors Influencing Cardano’s Price Surge
### 1. Cardano Whale Impact
Large investors have shown a strong interest in ADA, with a cumulative transaction volume of $26.34 billion, surpassing Ethereum’s $8 billion. Although whale activity saw an 11% decrease in the last 24 hours, the continuous influx of liquidity into the ecosystem could potentially drive ADA’s price to new highs.
### 2. Ecosystem Upgrades and Growth Fundamentals
Cardano has distinguished itself with robust developer activity and recent protocol upgrades like the Chang hard fork, transitioning towards decentralized governance. Initiatives like the Hydra scaling protocol testing campaign aim to incentivize community participation, attracting new users and fostering ADA adoption, which could contribute to the growth of Cardano’s price.
### 3. Correlation With Bitcoin
With a strong correlation coefficient of 0.94 to Bitcoin, Cardano stands to benefit from the current Bitcoin price rally. The significant capital inflows into Bitcoin, including through spot ETF products and corporate investments, may propel Bitcoin to new heights, potentially extending positive sentiment to Cardano and driving its price towards the $10 ATH.
## Conclusion
The alignment of these key fundamentals, including whale activity, ecosystem upgrades, and correlation with Bitcoin, suggests a promising outlook for Cardano’s price trajectory towards the $10 mark.
*This article was originally published on [CoinGape](https://coingape.com).*