Cardano Whale, a Cardano community figure, shares a chart comparing ADA’s performance with 18 of the top assets in the crypto market.

This chart, which spans from September 2023 to the current date, shows Cardano’s price movements in relation to 18 other cryptocurrencies using the Blooming Generic Price (BGN) metric.

The results showed that despite current market struggles, Cardano outperformed many of these top assets during the initial stages of the most recent bullish phase.

Cardano Outperforms the Broader Market

Notably, a greater scrutiny of market data shows that from September 2023 to March 2024, Cardano experienced a significant 217% increase, reaching its yearly peak at $0.8104 in March.

Meanwhile, in comparison, Bitcoin spiked 184% in the same time frame, hitting an all-time high of over $73K. In addition, the global crypto market cap grew 164% within this period, confirming Cardano’s excellent performance compared to most of the market.

However, since then, ADA has seen a notable decline. As of now, it trades at $0.3281, representing a 59% drop from its March peak. Meanwhile, Bitcoin has shown greater resilience, declining only 23% from its $73K peak.

ADA’s Penchant for Greatet Spikes During Bullish Runs

Cardano Whale shared the recent chart amid persistent bearish commentaries, particularly as ADA’s recent underperformance has drawn attention from critics.

While some have scrutinized ADA’s inability to sustain its early gains, others remain optimistic about the long-term potential of the project. Cardano Whale weighed in on the matter, discussing ADA’s market behavior and future potential.

He noted that while ADA experienced a strong upward movement early on, it seems to have slowed down prematurely. The pundit acknowledged that the 18 coins included in the BGN comparison are not a complete index of the crypto market.

For instance, notable assets like Solana were not included in the chart, which may skew the results. Nonetheless, the comparison still provides useful data, as the selected coins represent many of the most established and respected cryptocurrencies.

Cardano Whale emphasized that ADA tends to run harder than the broader market during bullish phases. Market data confirms this.

Notably, in the 2021 bull run, ADA rallied 6,481% from March 2020 to September 2021. Meanwhile, BTC only increased 709%. Cardano repeating this trend in the early stage of the ongoing push suggests that it could be poised for strong growth when the next bull run occurs.

A Focus on Long-Term Returns

Cardano Whale also highlighted the challenges of comparing ADA’s performance with other assets, noting that price and market cap can be easily manipulated. This makes it important to focus on long-term performance and the overall trajectory of the project.

He stressed that in the crypto market, new tokens are constantly being created, and older ones recycled. Despite these trends, the pundit emphasized the importance of longevity and a proven track record in assessing a project’s true value.

Addressing the ongoing criticisms, Cardano Whale expressed weariness with discussions that focus solely on short-term results. He pointed out that in traditional markets, assets are not always expected to be the top performers to be considered valuable.

The fact that Cardano continues to trade around the top 10 list of crypto assets and outperformed the broader market during the most recent bullish impulse is a positive sign for its future.