Popular decentralized crypto protocol, Cardano (ADA), has been projected to assume incredible price levels courtesy of upcoming events in the coin’s ecosystem. Consequently, experts and other influencers are clamoring for immediate investment in the token now, as later might be too late.
For context, Cardano’s price statistics on popular crypto assets tracker site CoinGecko revealed the crypto asset price to be approximately $0.45, mirroring a slight 0.3% upswing in the past 24 hours.
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Per ADA’s 3-month-to-date price chart, the last time the coin traded around the $0.5 price status was on April 23. Since then, the token has struggled to break above $0.49, which has posed a potent resistance for the coin’s price ascent.
Source: CoinGecko
Like before the 2021 general market rally, many crypto enthusiasts are beginning to doubt ADA’s expansion prospect, which has resulted in many pessimistic sentiments hovering around the coin’s future. Amid the negative ADA perceptions, some X influencers and analysts have remained highly bullish on the token, backing their claims with pragmatic instances.
A Potential ETF Approval And Argentina Adoption Could Fuel ADA’s Expansion
Taking to his verified X handle, a crypto influencer and trader, “Alexander Legolas,” has speculated why ADA still boasts tremendous growth potential as he urges his over 11.4K followers to delve into the project now.
“If you ignore short-term price action & pay attention enough, you will invest early as a result of fundamentals & the potential of certain bullish events that could massively shift market sentiment,” the crypto influencer wrote on X.
Additionally, Alexander hinted at possible price implications of entering a bull cycle, which would coincide with ADA’s Exchange Traded Fund (ETF) Approval and increased adoption, with Argentina showing interest in the coin.
“If you are waiting for these things to happen first before you get bullish, the money would have already been made,” the crypto trader added to conclude his take on the ADA’s future.
Market Cycles are all about FUNDAMENTALS & SENTIMENT SHIFTS.
If you ignore short term price action & pay attention enough, you will invest early as a result of fundamentals & the potential of certain bullish events that could MASSIVELY Shift MARKET sentiment.
We are entering…
— Alexander Legolas (@ShillMoBaggins) June 2, 2024
Cardano’s Expansion, Fuelled By 3 Three Anticipated Events
Another verified X user with the pseudonym “Av_Sebastian” corroborated the above claims by Alexander via a different tweet where he quoted the above tweet.
According to Sebastian, Cardano’s expansion potential does not hinge on only the ETF approval and adoption in Argentina. He highlighted several other upcoming events in the Cardano ecosystem, with prospects to drive ADA’s expansion.
Per Sebastian, the anticipated events are Chang, Hydra, and Ouroboros Leios. Notedly, the Chang upgrade would ensure an all-encompassing government model for every ADA holder to participate in Cardano’s leadership procedures.
On its part, Hydra is a Layer-2 scaling solution whose functionalities aim at improving transactional speed and security on the Cardano network. Finally, Cardano’s Ouroboros Leios will power the Cardano blockchain while ensuring decentralization and preventing the energy drain associated with Bitcoin (BTC).
Shillmo is right, once an event has happened the asset is already priced in.$ADA has a lot of events upcoming (Chang, Hydra, Ouroboros Leios) that will boost the price by a lot.
Best time is to invest now, while it still hasn’t pumped. https://t.co/4iCke96dgK— Sssebi🦁 (@Av_Sebastian) June 3, 2024
ADA To Appreciate By 15X Ahead Of DOGE And XRP At 10X
In a previous tweet, Sebastian had envisaged different crypto assets and their appreciation prospects. According to him, ADA boasts higher chances to appreciate significantly, which he estimated at 15X, implying a $6.75 new all-time high (ATH) for the token from its current selling price.
From the current price to the top of the bull market these are the gains these coins can bring.$BTC 3x$ETH 4x-5x$BNB 4x$SOL 5x$XRP 10x$DOGE 10x$ADA 15x
Just my view.— Sssebi🦁 (@Av_Sebastian) June 2, 2024
Going further, he predicted a 3X increment for Bitcoin (BTC), 4X – 5X for Ethereum (ETH), 4X for Binance coin (BNB), 5X for Solana (SOL), and 10X for XRP and Dogecoin (DOGE).
Read More:
- Cardano Price Prediction 2024 – 2040
- Best Places to Buy Cardano Crypto
- Cardano Price Analysis: $1 A Realistic Short-Term ADA Price Target Despite Today’s Dip
- Cardano Price Prediction As Whales Betting Billions On Cardano
Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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