Crypto Analyst Writes Cardano Development Will Drive ADA Price To $3 By 2024

Crypto analyst Sebastian he has explained why he believes Cardano (ADA) it could rise to $3 this year. The developments highlighted by the analyst undoubtedly paint a bullish picture for the crypto token. However, it remains to be seen how Cardano will react, given that it is currently one of the worst performing crypto assets this year.

Why Cardano Price Is Set To Reach $3 This Year

Sebastian mentioned on X (formerly Twitter) posted four reasons he believes Cardano will reach $3 this year. First, he talked about Cardano’s cooperation with Argentina. The Cardano Foundation which was recently announced its relationship with Entre Ríos, a province in the center of the country. This move is aimed at promoting the adoption of blockchain in Argentina. The partnership also benefits ADA as it will help the network enter the Argentine market.

Related Reading

Second, Sebastian talked about Change the Hard Fork as another reason Cardano is poised to reach $3 this year. This development of the network should usher in Cardano’s “Voltaire” era, focusing on distributed governance. Just this Change the Hard Fork happens, the Cardano network will be driven by the community, which can help elevate the Cardano ecosystem and increase investor confidence.

Sebastian pointed to the new system of applications (dApps) introduced on Cardano as another reason the crypto token could reach $3 this year. The introduction of these dApps will help increase the activity of the Cardano network and ultimately have a positive effect on the price of ADA as the crypto token will receive additional support.

Finally, Sebastian mentioned that 1.5 billion Cardano tokens will be opened for marketing and other investments. He believes that these funds can go a long way in promoting the Cardano ecosystem and attracting new users. However, some of his followers disagree with him on this matter, noting that opening this large amount of tokens would include great pressure to sell in DA.

Cardano Chang Hard Fork “The Big Thing”

Crypto analyst and Cardano bull Dan Gambardello recently he commented that the Chang Hard Fork is a bid agreement for the Cardano ecosystem, as the network will focus on “the ear of managing the community by extension.” The development of the network is expected to go live later this month, Gambardello says that this is the best time altcoin season.

Related Reading

Gambardello remains bullish on Cardano despite it price action can be impressive and he has even assured his followers that the current crypto token price action is normal. He said that the ADA was in a similar position to the last bull run but he still recorded a large amount in that market cycle. He expects the same thing to happen again and suggested that the ADA’s biggest move could come when the Altcoin season kicks into full gear.

At the time of writing, ADA is trading around $0.4, down more than 2% in the last 24 hours, according to the report. the data from CoinMarketCap.

The featured image was created with Dall.E, a chart from Tradingview.com