TL;DR
- ADA, Cardano’s token, has seen a 10% weekly increase, with a 23% rise in address activity and a 32% increase in whale transactions, indicating heightened interest and activity.
- Price projections for ADA vary, with one analyst suggesting a 40% rise due to transaction volume growth, while another is more optimistic, predicting a surge to almost $10 by the end of 2024.
- The most ambitious prediction comes from a user who believes ADA could reach $30, buoyed by Cardano’s active development community and global inflation potentially driving the crypto market cap to $10 trillion within the decade.
A Slight Increase or a Rapid Spike?
Cardano’s native token – ADA – has made the headlines lately by registering a 10% price increase on a weekly basis. Besides that, address activity involving the coin has jumped by 23% in the past three weeks, while whale transactions have spiked 32% for the same period.
Currently, ADA is worth approximately $0.32 (per CoinGecko’s data), with some analysts predicting a further rally in the future. The X (Twitter) user John Morgan shared research that estimated that the asset might soar more than 40% based on the rapid surge of transaction volume involving the coin.
Another analyst, using the handle Ali, was more bullish, believing ADA has a chance to skyrocket to almost $10 by the end of 2024.
The Wild Bet
The most optimistic forecast came from the X user Lucid, who claimed Cardano had the most active development community of all other projects for October 2023. The analyst thinks that global inflation could act as a catalyst for the cryptocurrency market and push its capitalization to $10 trillion within the decade, while ADA could explode to the astonishing $30.
$ADA is going to $30!👑
Bitcoin proved to the whole world that a $1 Trillion market cap is attainable! Even Ethereum with all its issues hit $500 billion! With inflation the crypto market as a whole will be worth $10 Trillion within the decade! Cardano is going for the 100x!👻🔱
— Lucid (@LucidCiC) October 31, 2023
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