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06/14/2024

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Crypto Analyst Lists The Cardano Developments That Will Drive ADA Price To $3 In 2024

Crypto analyst Sebastian has outlined why he believes Cardano (ADA) could rise to as high as $3 this year. The developments the analyst highlighted undoubtedly paint a bullish picture for the crypto token....

Crypto Analyst Lists The Cardano Developments That Will Drive ADA Price To $3 In 2024
Cardano

Crypto analyst Sebastian has outlined why he believes Cardano (ADA) could rise to as high as $3 this year. The developments the analyst highlighted undoubtedly paint a bullish picture for the crypto token. However, it remains to be seen how Cardano will react, given that it is currently one of the worst-performing crypto assets this year. 

Why Cardano’s Price Is Posied To Reach $3 This Year

Sebastian mentioned in an X (formerly Twitter) post four reasons he believes Cardano will reach $3 this year. First, he mentioned Cardano’s partnership with Argentina. The Cardano Foundation recently announced its partnership with Entre Ríos, a central province in the country. The move is aimed at fostering blockchain adoption in Argentina. The partnership also benefits ADA as it will help the network break into the Argentine market. 

Secondly, Sebastian mentioned the Chang Hard Fork as another reason Cardano is poised to reach $3 this year. This network upgrade is supposed to usher in Cardano’s “Voltaire” era, focusing on decentralized governance. Once this Chang Hard Fork occurs, the Cardano network will become more community-driven, which can help uplift the Cardano ecosystem and further boost investors’ confidence.  

Sebastian alluded to the new decentralized applications (dApps) launching on Cardano as another reason the crypto token can reach $3 this year. The launch of these dApps will help increase Cardano’s network activity and ultimately positively impact ADA’s price since the crypto token will gain added utility. 

Lastly, Sebastian mentioned that 1.5 billion Cardano tokens will be unlocked for marketing and other investments. He believes these funds could go a long way in promoting the Cardano ecosystem and attracting new users. However, some of his followers disagreed with him in this regard, noting that unlocking this significant amount of tokens would only put massive sell pressure on DA. 

Cardano Chang Hard Fork Is A “Big Deal”

Crypto analyst and Cardano bull Dan Gambardello recently remarked that the Chang Hard Fork is a bid deal for the Cardano ecosystem, seeing as the network will pivot into “an ear of decentralized, community governance.” The network upgrade is expected to go live later this month, with Gambardello claiming this is excellent timing for the altcoin season

Gambardello has remained bullish on Cardano despite its unimpressive price action and has even reassured his followers that the crypto token’s current price action is normal. He stated that ADA was in a similar position in the last bull run but still recorded a massive price in that market cycle. He expects something similar to happen again and suggested that ADA’s big move could come once the Altcoin season kicks into full gear. 

At the time of writing, ADA is trading at around $0.4, down over 2% in the last 24 hours, according to data from CoinMarketCap. 

Featured image created with Dall.E, chart from Tradingview.com

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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