Cryptoanalyst Sebastian He explained why he believed it Cardano (ADA) It could rise to $3 this year. There is no doubt that the developments highlighted by the analyst paint a bullish picture for the cryptocurrency token. However, it remains to be seen how Cardano They will react, given that it is currently one of the worst-performing crypto assets this year.
Why Cardano is expected to hit $3 this year
Sebastian was mentioned in X (formerly Twitter) mail Four reasons why he believes Cardano will reach $3 this year. First, he mentioned Cardano's partnership with Argentina. Cardano Foundation Recently announced Its partnership is with Entre Ríos, a central province in the country. The move aims to promote blockchain adoption in Argentina. The partnership also benefits ADA as it will help the network break into the Argentine market.
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Secondly, Sebastian mentioned Chang Hard Fork As another reason Cardano is preparing to reach $3 this year. This network upgrade is supposed to mark the beginning of the “Voltaire” era of Cardano, with a focus on decentralized governance. Once this Chang Hard Fork If this happens, the Cardano network will become more community-oriented, which could help raise the profile of the Cardano ecosystem and boost investor confidence.
Sebastian hinted at the launch of new decentralized applications (dApps) on Cardano as another reason for the cryptocurrency token to reach $3 this year. The launch of these decentralized applications will help increase Cardano network activity and will ultimately positively impact the price of ADA since the cryptocurrency token will gain additional interest.
Finally, Sebastian mentioned that 1.5 billion Cardano tokens will be opened for marketing and other investments. He believes that this money could go a long way in strengthening the Cardano ecosystem and attracting new users. However, some of his followers disagreed with him in this regard, pointing out that opening this large amount of symbols would only lead to a situation… Huge selling pressure Yes.
Cardano Chang hard fork is a 'big deal'
Cryptocurrency Analyst and Cardano Bull Dan Gambardello newly Notice The Chang Hard Fork is a bidding deal for the Cardano ecosystem, since the network will turn into an “ear for decentralized community governance.” The network upgrade is expected to go live later this month, with Gambardello claiming this is excellent timing for Altcoin season.
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Gambardello remained bullish on Cardano though Price action is not impressive He also reassured his followers that the current price movement of the cryptocurrency token is normal. he advertiser That the ADA was in a similar situation in Another bull round But it still registered a hefty price in that market cycle. He expects something similar to happen again and suggested that the ADA's big move could come once Altcoin season is in full swing.
At the time of writing, ADA is trading at around $0.4, down more than 2% over the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com