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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

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    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

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    Blue chip NFTs sink double digits as ETH retreats from record highs

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    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

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  • Analysis
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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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  • NFT
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    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

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    What’s Behind the Double-Digit Declines?

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    $3.62B Already Sold in 2025

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    Climb the SCOR Invitational Leaderboard and Earn Bigger $SCOR Airdrops

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    Pudgy Penguins Game ‘Pudgy Party’ Launches on iOS and Android

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    Pudgy Penguins and Mythical Games Launch Pudgy Party Game

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    KuCoin Pay Joins Forces with 2Game Digital to Drive Web3 in Gaming

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    GaFin Joins Cyber Crash to Advance Web3 Gaming

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    Buzzy Ethereum Game Football.fun Has Soccer Fans Scoring Crypto Gains

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    Stability World AI Adds Games to Transform the Future of Web3 Gaming

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    Play Solana to ship handheld gaming device in October

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  • Blockchain
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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    Polyhedra Network launches Proof Cloud in open beta

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    SoonVerse Partners with Arris to Enhance User Experience

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    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    ETH Daddy Discusses Ethereum and AI

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    What Is Impermanent Loss? How It Works, and How to Avoid It

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    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    What is Cloud Mining? A Beginner’s Guide

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  • Analysis
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Crypto Analyst’s Take: $ADA Could See 2750% Rally – Future of Cardano Explored

October 17, 2023
in Uncategorised
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$ADA: EMURGO CEO Outlines Plans to Address 21 Key Gaps in Cardano
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Introduction

In a video released by the Crypto FOMO YouTube channel on 16 October 2023, the host provided an in-depth analysis of Cardano and its native token, ADA. The discussion covered Cardano’s past performance, its current state, and what investors can expect in the upcoming bull market. The host also delved into the technical and fundamental aspects that could influence ADA’s price.

The host began by examining Cardano’s performance in previous bull and bear markets. In its early days, Cardano experienced a significant crash, dropping by about 98.6% from its all-time high. However, it later rallied by approximately 165x, reaching a peak price of $3.13 in September 2021. The host emphasized that Cardano was a much riskier investment back then, lacking smart contracts and a strong community.

The host suggested that a more conservative estimate for Cardano’s next rally could be around 2,750% from its current low. This estimate is based on the host’s belief that Cardano’s next rally will be about six times less significant than its previous one, given its current maturity and reduced risk.

He said:

“So in the previous bull market, if we saw Cardano do from the bottom to the top, we saw it do about 165x … You take that and divide that number by six and that means that you get a much much smaller number, right? So, 165 divided by 6 you get about 27.5 … So that means that from the low to the top, Cardano is going to go 2750% … And if you look at that, you see here that the chart from 23 cents, which is the current low, you go to about 2750, and you get really to a target of around $6.6… So, to make a million dollars, you need to invest only $40,000.“

See also  Institutional Investors Pour $346 Million Into Crypto

Current State

According to the host, Cardano has matured significantly since its early days. It now boasts smart contracts, decentralized finance (DeFi), and non-fungible tokens (NFTs). The host pointed out that Cardano’s recent bear market saw a less severe drop of about 92.6% from its high, indicating that it has become a less risky investment.

#Cardano fam, simple chart showing FUTURE opportunity. Without SC, CNT’s, Defi, $ADA did 165x from bear bottom.

Now with SC, Defi/booming TVL, NFT’s, Projects such as @book_io, @CornucopiasGame, @Indigo_protocol, @IagonOfficial, etc…, along with Hydra, Marlowe, Mithril,… https://t.co/EChPO0SSLH

— Chris O (@TheOCcryptobro) October 14, 2023

Price Predictions



The host suggested that a more conservative estimate for Cardano’s next rally could be around 27.5x from its current low, which would place its price at approximately $6.60. This estimate is based on the host’s belief that Cardano’s next rally will be about six times less significant than its previous one, given its current maturity and reduced risk.

Technical Analysis

On the technical side, the host noted that Cardano is showing signs of breaking out from its current levels. He identified three key indicators to watch: the 20-day moving average, a support level of around 26 cents, and a higher high above the current local high of 27 cents. These indicators could confirm that Cardano is on the right track to continue higher.

Fundamental Analysis

From a fundamental perspective, the host highlighted several developments that make Cardano a strong contender in the crypto space. These include the launch of Alonzo and smart contracts, a booming total value locked (TVL) in DeFi, and various NFT projects. The host also mentioned that Cardano’s ecosystem is thriving, with several projects under development.

See also  Deutsche Telekom and MultiversX Join Forces to Shape the Future of Web3

Total Value Locked (TVL) in Cardano’s DeFi

The host highlighted the rapid growth of Cardano’s Total Value Locked (TVL) in decentralized finance (DeFi) as a positive indicator of its potential. According to him, Cardano’s TVL in DeFi currently stands at $157 million and has been on an upward trajectory. This growing TVL is a testament to Cardano’s increasing importance in the DeFi space and serves as an indicator of the platform’s health and adoption rate. The host expects this figure to continue to grow, further solidifying Cardano’s position as a leading smart contract platform.

External Factors

The host also touched on the influence of Bitcoin’s performance on Cardano. He noted that Bitcoin is currently under resistance and needs to break above the 200-day moving average for a more bullish outlook. This could potentially impact Cardano’s performance as well.

Final Thoughts

The host concluded by reiterating his bullish outlook for Cardano, stating that both technical and fundamental factors align well for its future growth. He expressed excitement about covering Cardano’s journey in upcoming videos.

Featured Image via Unsplash

Tags: ADAAnalystsCardanoCryptoExploredFuturerally

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