Crypto Exchange Says Cardano Price Can Reach $165, Here’s When
02 März 2024 - 12:00AM
NEWSBTC
Cardano (ADA) is currently riding on the back of a 14% gain in the
past seven days, allowing the cryptocurrency to break past the
$0.70 price level for the first time since May 2022. According to
crypto exchange Changelly, Cardano is poised to continue on this
price growth and break over $1, $10, and $100 in the coming years
and decades. Changelly Predicts Exponential Cardano Price Growth
Cardano is one of the biggest cryptocurrencies by market cap with a
cap of over $23.5 billion. Although ADA has since retraced some of
its gains earlier in the week and is now trading below $0.77, it
ended February with a 35% gain amidst a wider inflow of money into
the crypto market. Current fundamentals have prompted experts to
forecast a continued price surge in March. Related Reading: Crypto
Expert Reveals Why Bitcoin Can Rise To $400,000 According to
Changelly’s prediction, ADA will continue on this price growth to
make a steadfast breakout above $0.70 and end the month at a
maximum of $0.751. Notably, analysts at the exchange also looked at
future price points for ADA, predicting very bullish prices. In its
prediction, the exchange noted ADA would break over $10 in 2030.
With the cryptocurrency now trading at $0.66, this would mean a
1,400% growth from the current price level. Looking further into
the future, Changelly expects this price growth to continue into
the next decade, allowing ADA to eventually break over $165 by 2040
and end the year around $600. How Feasible Is This Bullish
Prediction? Cardano has had its fair share of ups and downs in the
past few years. Recently, the blockchain network saw a 90% jump in
the creation of new wallet addresses, indicating increased network
activity and interest in the network. However, the blockchain has
also been subjected to negative remarks, with multiple reports
hinting that Cardano’s network activity has been nothing but
fabrications. Particularly, a recent report termed ADA as a dead
coin. Related Reading: Bitwise CEO Says Bitcoin At $250,000 Is
Closer Than You Think Despite this, some holders and experts remain
optimistic. For ADA to cross over $10 and $100 per coin, mainstream
adoption needs to happen. As the crypto industry, which is
spearheaded by Bitcoin, becomes more mainstream, Cardano is poised
to benefit from greater adoption. While $165 per ADA sounds overly
optimistic now, if Cardano can achieve its ambitious goals, gain
mainstream interest and adoption, and attract institutional
investment from traditional investors, that price target may not be
so unrealistic after all. At the same time, this isn’t impossible,
as ADA has delivered over 3,000% profit for its holders in the
past. ADA price at $0.68 | Source: ADAUSD on Tradingview.com
Featured image from Blockchain News, chart from Tradingview.com
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