Dan Gambardello, founder of Crypto Capital Venture, recently stated that he believes the price of the native token ($ADA) of smart contract platform Cardano will soon jump more than 60% to trade above the $1 mark. He stated that he believes this will happen.
In a post on microblogging platform X (formerly Twitter) that attracted over 250,000 followers, Mr. Gambardello simply noted that #Cardano will not stay below $1 for long, and in a follow-up post he said that investors will sell tokens that do not show significant movement and others He added that they are currently in the phase of the market cycle where they are chasing tokens.
According to him, "right after the transition, the new tokens they bought drop by -20% and the tokens they sold go up by 50%.
Cardano won't stay below $1 for long.
Cardano is up just 5.9 percent this year, compared to Bitcoin's rise of more than 40 percent this year and Ethereum's 45 percent over the same period.
Gambardella predicts that Cardano's price will grow by more than 60%. The cryptocurrency is currently trading at around $0.62 per #token , having risen in price by about 1% over the past week.
As reported by CryptoGlobe, the Cardano ecosystem is experiencing significant growth, especially in decentralized finance (DeFi), as the total value locked in decentralized applications (TVL) continues to rise.
A major development in Cardano's growth has been the introduction of Hydra, a set of scaling protocols designed to improve network efficiency by facilitating off-chain transactions. This innovation is designed to increase Cardano's scalability and transaction throughput to handle increased activity without compromising network stability.
Further development of key infrastructure projects such as SanchoNet and Mithril are reported, signaling Cardano's ongoing efforts to improve scalability and innovation potential.
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