CEO of financial services firm deVere Group Nigel Green says that he thinks Cardano (ADA) will hit new highs in 2022.
In a statement, Green says that the price of ADA is surging because of the excitement over the launch of SundaeSwap, the first decentralized exchange (DEX) ever built on Cardano.
From a low of $1.11 on January 11th, the seventh-largest crypto asset by market cap rose 44% to $1.60 on January 18th.
“The main reason why Cardano has jumped dramatically in price over the last week is due to the enthusiasm surrounding the launch today of SundaeSwap, which will make use of its pioneering underlying blockchain technology.”
Green is optimistic that ADA will hit a new all-time high this year as the smart contract platform enters its Basho phase, the third stage of Cardano’s five well-defined phases of development aimed at improving the scalability and interoperability of the network.
“I’m confident that we will see Cardano hit fresh all-time highs before the end of the year because the upgrades just keep on coming.
Inevitably, this is going to excite investors who are likely to increase their exposure to the cryptocurrency, driving up its price considerably.”
Green says that ADA will eventually eat the market share of leading crypto assets Ethereum (ETH) and Bitcoin (BTC).
“Cardano is coming of age in 2022 and we can expect its price to soar and take more market share from crypto rivals, including Ethereum.”
ADA nearly hit $3.00 in 2021 and is worth $1.24 at time of writing.
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