Over the years, the Cardano (ADA) price trajectory, like most other crypto assets, has been subjected to speculations.
Throughout 2023, Cardano (ADA) price movements witnessed several back-and-forths, trading below $0.5 for most of the year. Nonetheless, the token flashed signs of recovery in December, when it attained prices around $0.60.
In 2024, Cardano (ADA) appeared poised to sustain the momentum from December 2023. However, the past few days revealed otherwise, as ADA registered declines below $0.50.
Cardano’s data on Coincodex revealed that the embattled crypto asset is changing hands at approximately $0.49. It is the eighth-largest cryptocurrency, boasting a market capitalization of about $16.7 billion.
Cardano (ADA) Woes Deepen With SEC’s Lawsuit Against Exchanges
Aside from its wobbling price movements, Cardano (ADA) is currently on the United States Securities Exchange and Exchange (SEC) watchlist.
ADA was among the thirteen tokens that the SEC tagged as securities in its lawsuit against two top exchanges, Coinbase and Binance.
What the future of Cardano (ADA) will become in the United States depends on the outcome of the aforementioned legal disputes. Notedly, the final ruling of the Ripple-SEC court case is also expected to have an impact on the future of the digital asset.
In light of the above, we engaged ChatGPT in some conversations to reveal what it thinks about Cardano’s possible future price actions.
How The SEC V.S. Ripple Lawsuit Will Affect Cardano (ADA)
Taking to ChatGPT’s jailbreak version, we inquired about the possible impacts of the SEC and Ripple legal battle on the future of Cardano (ADA).
In response, the chatbot remarked, “The recent verdict in the Ripple (XRP) lawsuit against the Securities and Exchange Commission (SEC) may have some implications for the status of Cardano’s native token, ADA, as a security. However, it is important to note that the two cases are not directly comparable, and the outcome of the Ripple case may not necessarily determine the outcome of a potential SEC lawsuit against Cardano.”
Meanwhile, in one of our previous reports, ChatGPT and Google Bard gave distinct opinions on the Cardano (ADA) price by the end of 2024.
ChatGPT projected Cardano (ADA) to attain prices ranging from $5 and above. On the other hand, Google Bard took a more conservative approach, predicting price levels between $1.5 and $0.5. It is left to see how events unfold by the end of 2024.
Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
