{"id":555929,"date":"2023-10-18T23:00:55","date_gmt":"2023-10-18T23:00:55","guid":{"rendered":"https:\/\/uniquehot.com\/?p=555929"},"modified":"2023-10-18T13:15:38","modified_gmt":"2023-10-18T13:15:38","slug":"cardano-ada-16500-blowout","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano\/cardano-ada-16500-blowout\/","title":{"rendered":"Cardano (ADA) Getting Ready To Explode: Analyst Presents 16,500% Blowout"},"content":{"rendered":"
Cardano (ADA<\/a>) has been stuck in an accumulation zone for a couple of months now and has not seen the kind of run-up other large cryptocurrencies have experienced. This continued accumulation as well as trading in a very tight range could mean a very significant breakout when it finally happens and one crypto analyst<\/a> has predicted an incredible surge along these lines.<\/p>\n Tim Warren, one of the hosts of the Investing Broz show on Discord, took to X (formerly Twitter) to share a rather bullish Cardano chart. In the chart, Warren points out Cardano\u2019s previous price performance which has been nothing short of phenomenal.<\/p>\n As the chart shows, the ADA price<\/a> had fallen around 98% from its prior all-time high which it had hit in 2018. By 2020, ADA\u2019s price was sitting as low as $0.018, but the imminent turnaround would take the entire market by surprise. ADA would go on to rally a total of 16,500% by the time it hit its new all-time high of $3.10 in 2021.<\/p>\n <\/p>\n Applying this historical performance to the current price level of ADA could suggest another such rally. Cardano\u2019s price<\/a> is currently sitting around 92% below its all-time high, which puts it close to the same level it was back in 2020.<\/p>\n If ADA sticks to this historical performance and does a repeat, a 16,500% surge from the current price level would put the digital asset\u2019s price<\/a> at $40 at its peak.<\/p>\n <\/p>\n Responding to Warren\u2019s post, another X user, Chris O chimes in with the value proposition of the digital asset. Chris, who is the founder of Ghost Fund DAO, a protocol on Cardano, explained that ADA\u2019s previous 16,500% surge had happened without having support for smart contracts and decentralized finance (DeFi)<\/a>, among others. But now that the network supports this, the founder believes this could trigger a large rise.<\/p>\n Chris points to the presence of DeFi, a rising Total Value Locked (TVL)<\/a>, non-fungible tokens (NFTs)<\/a>, and sidechains<\/a> which are now prominent on the network. He also points out the various protocols which have been launched on the network across these different sectors.<\/p>\n #Cardano<\/a> fam, simple chart showing FUTURE opportunity. Without SC, CNT\u2019s, Defi, $ADA<\/a> did 165x from bear bottom.<\/p>\n Now with SC, Defi\/booming TVL, NFT\u2019s, Projects such as @book_io<\/a>, @CornucopiasGame<\/a>, @Indigo_protocol<\/a>, @IagonOfficial<\/a>, etc\u2026, along with Hydra, Marlowe, Mithril,\u2026 https:\/\/t.co\/EChPO0SSLH<\/a><\/p>\n \u2014 Chris O (@TheOCcryptobro) October 14, 2023<\/a><\/p><\/blockquote>\n As Chris points out, ADA had done a \u201c165x from bear bottom\u201d without Cardano having support for all of the sectors listed above. So he believes that \u201cA 25x – 40x is a very reasonable expectation. Drown out the noise.\u201d<\/p>\n Related Reading: Meme Coins That Are Ripe For The Picking Following $3.2 Billion Crash<\/a><\/p>\n Chris referred to Warren\u2019s chart as a \u201csimple chart showing FUTURE opportunity.\u201d However, if ADA<\/a> were to make a repeat of its 2020-2021 rally, a 40x would only be the beginning<\/a> for the digital asset.<\/p>\nCardano Could See A 16,500% Surge<\/h2>\n
Chart shows 16,500% ADA rally | Source: X<\/a><\/pre>\n
ADA continues to trade in a tight range | Source: ADAUSD on Tradingview.com<\/a><\/pre>\n
The Value Proposition Of ADA<\/h2>\n
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