The cryptocurrency market has recently shown new trends, with the performance of Cardano (ADA) being particularly noteworthy. As a project that has long faced skepticism, ADA has finally gained recognition in the market. Despite ongoing criticism from industry insiders regarding ADA's lack of a practical application ecosystem, it has been proven that ADA can perform exceptionally well in every bull run, which is quite similar to Ripple (XRP).

From a technical analysis perspective, as long as ADA can consistently maintain above $0.8 on the weekly chart, it is very likely to continue challenging the $1 mark in the future, and even has the potential to break into the $1.2 zone. It is worth noting that around $1.2 is an important accumulation zone, which holds key significance on a larger time frame.

On-chain data also provides positive signals. Since the beginning of the year, the number of addresses holding 10 million to 100 million ADA has continued to increase. More notably, the addresses of large holders holding 100 million to 1 billion ADA have accelerated their accumulation since October last year and have remained stable this year, with no significant reduction in holdings.

Considering the overall technical analysis and on-chain data, ADA still shows upward momentum, with no signs of large-scale selling currently. The existence of this fundamental support makes ADA a potential choice for long-term investment.

However, for short-term investors, it may be more suitable to operate in accordance with market sentiment. In any case, when selecting investment targets, especially considering assets for long-term holding, thorough research and careful decision-making are crucial.

The Crypto Assets market is ever-changing, and investors need to remain vigilant, pay attention to market dynamics, and make informed investment decisions based on their own risk tolerance.