Cardano On-Chain Fundamentals Point To Massive Rally, Is $10 Possible?
March 04 2024 - 2:00PM
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The Cardano network is showing bullish signs, which suggest that a
price surge might be on the horizon for the ADA token. Based on
price predictions made by some crypto analysts, the crypto token
could rise to as high as $10 when this happens. Cardano
Network Is Healthy Crypto analyst Ali Martinez highlighted in
an X (formerly Twitter) post that the Cardano network appears
healthy. This is based on several metrics in which the network
continues to experience significant growth. This includes the
notable rise in daily active ADA addresses, transaction volume, and
transactions from ADA whales. Related Reading: CEO Of
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Martinez noted that this increasing activity “signifies strong
network engagement and investor interest, positive indicators for
continued growth.” It further suggests that more investors are
increasingly bullish on the Cardano ecosystem (specifically ADA)
ahead of the next bull run. Cardano’s growth since last year has
been one of the major talking points for some time now. At the
beginning of this year, Bitcoinist reported that the network had
gained more adoption since last year. Notably, Cardano achieved a
significant milestone in December 2023, when all its blocks were
reported to have been filled. More recently, Bitcoinist also
reported how the network has seen massive growth in new wallets.
Between February 22 and 23, Cardano witnessed almost a 90% jump in
wallet creation, increasing from 1,706 to 3,227. The report also
noted how Cardano has a diversified investor base, with retail and
large-scale investors wanting to get in on the ADA token. ADA
To $10? Cardano’s impressive on-chain fundamentals no doubt point
to a massive rally from the ADA token. It also provides optimism
that the crypto token rising to as high as $10 in the bull cycle is
possible. Before now, several analysts had given their thoughts on
how ADA’s price could increase exponentially when the bull market
returns. Related Reading: $906 Million Worth Of Ethereum
Leave Exchanges Last Week – ETH To $4,000? Crypto analyst Dan
Gambardello was among those who painted the most bullish picture
for ADA, stating that it could rise to as high as $11. This
prediction means that ADA will not only rise to the $10 mark but
also surpass it. Meanwhile, crypto expert Jason Appleton (aka
Crypto Crow) went as far as predicting that ADA will rise to $32
and noted that it will be one of the most altcoins when that time
comes. Ali Martinez once offered his ADA prediction when he
mentioned how ADA could rise to $7 if it mirrors a historical move
from 2020. ADA hitting $7 will undoubtedly make the $10 mark more
feasible. At the time of writing, ADA is trading at around
$0.78, up over 11% in the last 24 hours, according to data from
CoinMarketCap. ADA price at $0.78 | Source: ADAUSD on
Tradingview.com Featured image from Zipmex, chart from
Tradingview.com
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