Cardano CFN

  • Dan Gambardello predicts Cardano will hit $0.50 by the end of October and bets 1,000 ADA to support his forecast.

  • ADA is trading at $0.3535, requiring a 40% increase for Gambardello's prediction to come true, needing strong catalysts.

  • Cardano has marked key milestones, including launching a legally enforceable smart contract in Argentina and advancing its Layer-2 scaling solution.

Dan Gambardello, founder of Crypto Capital Venture and a prominent advocate for Cardano (ADA), has made a bold prediction. He believes the coin will reach $0.50 by the end of October. Gambardello, confident in his forecast, has even placed a bet of 1,000 ADA to back his claim. If the coin fails to hit this target, one of his followers will receive the 1,000 ADA. 

https://twitter.com/cryptorecruitr/status/1844911987698041034

Cardano’s Current Price and Potential Rally

At the moment, ADA is trading at $0.3535, meaning it would need a 40% jump to meet Gambardello’s forecast. Such a rally would require significant catalysts, including increased demand and a liquidity surge. Nevertheless, the historical trend of October being a favorable month for crypto has bolstered optimism among ADA holders. Beyond Cardano, other altcoins, like Shiba Inu, are also hoping for a positive “Uptober” market. 

Upcoming Developments Could Boost ADA

Several factors support Gambardello’s bullish stance on Cardano. One of them is Cardano’s progress in its Layer-2 scaling solution. Sundaeswap, a decentralized application (dApp) on Cardano, recently completed the initial draft for its Layer-2 protocol called Gummiworm. This update aims to provide fast and instant transaction finality, making it a significant development for Cardano’s decentralized finance (DeFi) ecosystem.

Cardano’s Legal Milestone in Argentina

In addition to its technological advances, Cardano recently achieved a notable legal milestone. The platform hosted its first legally enforceable smart contract in Argentina, marking a significant step in its global adoption. The contract fully complies with Argentine law, and this breakthrough could encourage further growth and price gains for ADA.