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As Bitcoin continues its sideways movement, altcoins are also awaiting the direction set by the crypto king. Some investors are focusing on their long-term goals amidst the uncertainty. A well-known crypto analyst has revealed his massive target for an altcoin that is among the top 20 cryptocurrencies trading on the Binance exchange.
ADA Coin ATH Target
According to a prediction made by Dan Gambardello, the founder of Crypto Capital Venture and a passionate advocate of Cardano, ADA Coin could potentially reach $7.80 in the next bull cycle, surpassing its all-time high. Gambardello took to Twitter to share his prediction without explicitly stating the reasoning behind it. However, his subsequent tweets provide some clues about his belief in Cardano’s price trajectory.
The analyst suggests that as banks and traditional financial systems face challenges, there is increasing interest in cryptocurrencies, which sets the stage for an ultimate crypto bull market. Gambardello believes that this market surge will likely begin within a year.
To reach the projected target of $7.80, Cardano would need to experience an increase of nearly 2,500% from its current price. While this may seem like a bold speculation, it is important to remember that the crypto market has a history of unexpected surprises.
The Future of ADA Coin
In line with these predictions, ADA Whale, a prominent Twitter account focused on Cardano, also foresees a Cardano bull run. However, it cautions that this may not be a short-term event and could take time to materialize.
Input Output Global (IOG), the founder of Cardano, recently published its weekly report, sharing the latest developments in the network. Notable updates include the introduction of node v.8.1.2, a minor release with improvements in the Plutus interpreter. Additionally, the mainnet beta of the Mithril protocol, a significant milestone for the Cardano network, was launched.
The optimistic predictions from experts like Dan Gambardello and ongoing progress in the Cardano network contribute to increasing optimism about Cardano’s future. However, the main challenge currently lies in the absence of popular applications actively used on the network. Without popular applications, the network’s value diminishes, as exemplified by Solana, which experienced a significant loss in SOL Coin price and TVL due to the migration of popular applications to competing networks.
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