ChatGPT has caught the attention of crypto investors with its 2024 price predictions for top coins like Cardano (ADA).

While the model forecasts continued growth for ADA over the next 12 months, it seems particularly bullish on the prospects of Meme Kombat (MK) – a new meme coin that has exploded onto the scene in recent weeks.

Cardano’s Explosive Rise Shows No Signs of Slowing Down

ADA is currently trading around $0.61, representing a 148% price increase over the past year.

This significant growth can be attributed to several key factors, including the explosion of activity in Cardano’s decentralized applications (dApps) ecosystem.

The total value locked (TVL) in Cardano DeFi protocols reached an all-time high of $444 million last month, indicating substantial liquidity and incentives for investors seeking yields from staking.

Additionally, Bitcoin’s rally has lifted the broader crypto market, with altcoins like ADA benefiting from the spillover effects of positive sentiment.

Events such as September’s well-attended Cardano Summit also boosted interest.

Furthermore, Cardano transactions recently exceeded 1.5 million in a single day – a potential signal of rising institutional investment that could lead to further price appreciation for ADA.

With momentum building across several key areas, ADA looks poised to continue its upward trajectory in the weeks ahead.

ChatGPT Predicts ADA Will Reach $0.80 to $1.20 in 2024

OpenAI’s chatbot ChatGPT is also bullish on Cardano’s prospects through 2024.

Given the current positive trajectory of ADA based on growth in areas like DeFi and record transaction volumes, ChatGPT predicts that the token’s price will reach $0.80 to $1.20 by the end of the year.

The model believes Cardano can maintain momentum as long as ecosystem development continues at a solid pace.

In particular, innovation in DeFi and dApps will provide strong utility and incentives for users and investors.

Additionally, ChatGPT estimates further upside if the current positive market sentiment leads more institutional funds into altco