While the cryptocurrency market is experiencing another downturn, Cardano (ADA) has not escaped it, having continued to fall in August.
At the time this article was published, #ADA was trading at around $0.369, reflecting a drop of 11% over the past week and 3% over the past 24 hours. However, despite the bearish trend, some analysts are making bold predictions about ADA's future price potential.
One crypto analyst, Eilert, recently shared his optimistic predictions on X (formerly Twitter), suggesting that ADA could experience a monumental price spike if past momentum continues.
In the last cycle, $ADA rose from $0.075 to $3.16 (up 4113.3%), finding support at the deflection point of a bear market rally.... Now, 1400 days later, $ADA is testing the bear market rally rejection point again
". History doesn't repeat itself, but it often rhymes, Eilert tweeted. It's worth noting that, given current prices, a similar rise would put ADA at around $BTC YouTube analyst DeezyETH from the Discover Crypto channel also published ambitious predictions about the "Ethereum killer.
He suggested that in the next cycle, #bitcoin could reach $180,000 and ADA could rise to $BTC the other side of these optimistic predictions, data on the blockchain also shows growing investor interest in #Cardano . According to a survey conducted this week by cryptocurrency exchange Gemini, ADA leads the X-community, ahead of major competitors such as Solana, #BTC and #XRP .
The growing interest is also evidenced by data from analytics firm IntoTheBlock, which shows that Cardano is seeing significant trading volumes. The total value of large ADA transactions in the last 24 hours amounted to 6.47 billion U. S. dollars, which is significantly behind Ethereum's figure of 7.83 billion U. S. dollars.
In addition, the net volume of funds on large ADA wallets in the last week increased by 15%, indicating a significant accumulation of funds.
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