Cardano seems to continue the November crypto rally, with analysts discussing the price prediction for ADA of $3. This milestone represents a new all-time high (or All-Time High – ATH) for ADA, and it has been described by analysts in terms of time and manner to achieve it.
Cardano and the price prediction for ADA at $3: how and when will it be reached?
Analysts are expressing their views on the fate of Cardano, stating their price prediction for ADA at $3. This threshold represents a new all-time high for ADA.
To cite this prediction, first and foremost, there is the analyst Dan Gambardello who on X shared his thoughts:
https://twitter.com/cryptorecruitr/status/1863597060110401768
In practice, according to Dan Gambardello, Cardano (ADA) is potentially capable of seeing its November crypto rally strengthen shortly. On one hand, the analyst affirms the qualities of the crypto project and on the other its potential to become the subject of a new ADA spot ETF in the USA.
Dan Gambardello’s theory is based on what recently happened to Ripple (XRP), with WisdomTree that has formalized its application for issuing an XRP spot ETF in the USA. The S-1 form is now in the hands of the United States Securities and Exchange Commission (SEC), awaiting approval.
This led XRP to skyrocket in price, recording a pump of +80% in just the last seven days and +411% in the last 30 days, before the USA presidential elections.
In any case, Dan Gambardello argues that even if Cardano were to see a new ETF demand for spot ADA in the hands of the SEC, it could quickly reach $3.
Cardano: the price prediction of ADA of $3 and the new records of transactions per second
Dan Gambardello is consistently highlighting on X the record numbers of Cardano (ADA) in terms of transactions per second (or TPS).
https://twitter.com/cryptorecruitr/status/1864135338567811483
In practice, Cardano has reached one million TPS on its Hydra protocol, the layer 2 of Cardano.
At the time of writing, ADA is worth $1.23 and is in a bull pump of +23% over the last seven days and +270% compared to a month ago.
The last time ADA reached the current price was in April 2022. At the moment, the price of ADA is still far from its ATH recorded in August 2021 of $2.85.
ADA at $2 by the end of 2024?
Recently, there has been talk of another bullish forecast for Cardano that sees the price of ADA reaching $2 by the end of 2024.
After the intervention of Charles Hoskinson, founder of Cardando, on the future opportunities for crypto thanks to a wider acceptance of Bitcoin (BTC) primarily, another analyst has spoken out.
In fact, according to CoinCodex, the price of ADA could reach $1.39 by the end of the year, recording an increase of +20% compared to current levels. The analysis considered the positive sentiment of the market for the current eighth crypto by market cap.
This means that for CoinCodex there will be more green days than red for ADA this December, highlighting that the threshold of 2 dollars is very close.
