Crypto Expert Says Cardano Will Rise To $32 As Most Valuable Altcoin In The Bull Run, Here’s Why
15 Dezember 2023 - 4:00PM
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Crypto expert Jason Appleton, better known as Crypto Crow in the
crypto community, has provided an in-depth analysis of the Cardano
(ADA) ecosystem. Based on his analysis, he predicts that the crypto
token could hit unprecedented heights as he asserted his
bullishness on ADA going into the bull market. Cardano Will
Rise To $32 In a post shared on his X (formerly Twitter), Crypto
Crow explained in an accompanying video why he believes ADA will
rise to $32 in the bull market. According to him, this price level
is attainable in the “most prime of conditions by the peak of this
bull market cycle.” He also believes that the crypto token could be
one of the most valuable altcoins in that period. Related
Reading: XRP Bull Run Confirmed: Largest Bull Flag In Crypto
History Just Formed In the video that accompanied his post, Crypto
Crow drew out a hypothetical scenario to drive home his point of
ADA hitting $32. In his scenario, ADA could hit this price level if
Bitcoin were to achieve a $10 trillion market cap, as he projects
that this would put ADA’s own at $400 billion. Meanwhile, he
believes that ADA’s dominance could rise to as high as 4% in that
period. For his more conservative prediction, he foresees ADA
hitting at least $16 in the next bull cycle. Based on his
hypothetical scenario, this would happen if Bitcoin were to hit a
market cap of $5 trillion, as this would put ADA’s own market cap
at $200 billion. The crypto expert also referred to the
charts to show why he is so bullish on ADA. He noted that ADA is
already performing better based on historical patterns, as he
alluded to 2017 in particular. In the relatively short term, Crypto
Crow sees ADA hitting $10 by August 2024, as he highlighted the
Bitcoin Halving as a major factor in this regard. ADA
trending at $0.63 | Source: ADAUSD On Tradingview.com Cardano’s
DeFi Landscape Could Be The Trigger Dan Gambardello, the founder of
Crypto Capital Venture, had previously highlighted how Cardano’s
growing DeFi landscape important was. He noted that it would be one
of the factors that would propel ADA’s price to significant heights
in the next bull run. This is a real possibility, as Cardano has
seen impressive growth in this regard. Related Reading: Ethereum
Supply Turns Deflationary Post-Merge, Here’s How Much ETH Has Left
Circulation Data from DeFiLlama shows that the Total Value Locked
(TVL) on the network has been on a steady rise since the beginning
of the year. It recently hit an all-time high (ATH) of $444
million. At the time of writing, the TVL on the network stands at
just over $429 million. Crypto analyst Psyclops also factored
this into mind when he recently suggested that ADA could rise to as
high as $10. He highlighted the fact the network undoubtedly has
more utility than when the last bull run occurred. One of these use
cases, which he alluded to, is the “massive DeFi” that Cardano now
has. Featured image from The Daily Hodl, chart from
Tradingview.com
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