Crypto Analyst Lists The Cardano Developments That Will Drive ADA Price To $3 In 2024
2024年6月15日 - 11:00AM
NEWSBTC
Crypto analyst Sebastian has outlined why he believes Cardano (ADA)
could rise to as high as $3 this year. The developments the analyst
highlighted undoubtedly paint a bullish picture for the crypto
token. However, it remains to be seen how Cardano will react, given
that it is currently one of the worst-performing crypto assets this
year. Why Cardano’s Price Is Posied To Reach $3 This Year
Sebastian mentioned in an X (formerly Twitter) post four reasons he
believes Cardano will reach $3 this year. First, he mentioned
Cardano’s partnership with Argentina. The Cardano Foundation
recently announced its partnership with Entre Ríos, a central
province in the country. The move is aimed at fostering blockchain
adoption in Argentina. The partnership also benefits ADA as it will
help the network break into the Argentine market. Related
Reading: Analyst Predicts 35% Jump For Bitcoin In Next Step Of
‘Magic Bands’ Secondly, Sebastian mentioned the Chang Hard Fork as
another reason Cardano is poised to reach $3 this year. This
network upgrade is supposed to usher in Cardano’s “Voltaire” era,
focusing on decentralized governance. Once this Chang Hard Fork
occurs, the Cardano network will become more community-driven,
which can help uplift the Cardano ecosystem and further boost
investors’ confidence. Sebastian alluded to the new
decentralized applications (dApps) launching on Cardano as another
reason the crypto token can reach $3 this year. The launch of these
dApps will help increase Cardano’s network activity and ultimately
positively impact ADA’s price since the crypto token will gain
added utility. Lastly, Sebastian mentioned that 1.5 billion
Cardano tokens will be unlocked for marketing and other
investments. He believes these funds could go a long way in
promoting the Cardano ecosystem and attracting new users. However,
some of his followers disagreed with him in this regard, noting
that unlocking this significant amount of tokens would only put
massive sell pressure on DA. Cardano Chang Hard Fork Is A
“Big Deal” Crypto analyst and Cardano bull Dan Gambardello recently
remarked that the Chang Hard Fork is a bid deal for the Cardano
ecosystem, seeing as the network will pivot into “an ear of
decentralized, community governance.” The network upgrade is
expected to go live later this month, with Gambardello claiming
this is excellent timing for the altcoin season. Related
Reading: XRP Continues To Struggle Below $0.5, Ex-Ripple Director
Reveals Why Price Action Remains Muted Gambardello has remained
bullish on Cardano despite its unimpressive price action and has
even reassured his followers that the crypto token’s current price
action is normal. He stated that ADA was in a similar position in
the last bull run but still recorded a massive price in that market
cycle. He expects something similar to happen again and suggested
that ADA’s big move could come once the Altcoin season kicks into
full gear. At the time of writing, ADA is trading at around
$0.4, down over 2% in the last 24 hours, according to data from
CoinMarketCap. Featured image created with Dall.E, chart from
Tradingview.com
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