Cardano: ADA Won’t Trade Below $1 Much Longer, Says Analyst

Juhi Mirza
Cardano (ADA) Price Prediction: January End 2024
Source: The Daily Hodl

Cardano analysts are projecting positive price developments amid the recent altcoin surge. Bitcoin has finally breached the ambitious $56K mark, ushering in the new altcoin wave. 

Amid the great surge, crypto analysts are back with their forecasts, rooting for several altcoins to gather pace. Notable crypto analyst Dan Gambardello has also come up with a new hypothesis claiming ADA price surge will ascend to the $1 mark. 

Also Read: Cardano Boom: Analyst Draws Parallels on Why ADA is Better Than ETH

Cardano Poised to Reach $1? 

Cardano
Source – Crypto News Flash

Driving the recent BTC wave, Cardano is currently up 6.64% and trading at $0.6234.

Amid the surge of positive influx, ADA has also noted a boom in its wallet statistics, signaling a surge in its mainstream adoption. 

The data from Cardano Blockchain shows that the number of new Cardano wallets has climbed to 3227 from 1706 in a span of two days, portraying a bullish streak. 

The data further noted additional stats for Cardano, including a boom in stats related to its total wallets on the chain. Per the data shared, in one month, the wallets on Cardano have grown from a striking 4,533,847 to 4,593,350. 

Also Read: Altcoins On The Rise: Why XRP, SOL & ADA Are Topping The Charts?

With BTC hitting the $56,000 mark, ADA analysts are also hoping Cardano will rise a notch. A notable crypto analyst, Dan Gambardello, took to X to share his forecast, adding how ADA will soon reach the coveted $1 mark. 

This particularly shows a surge of interest and activity on Cardano, suggesting that the network is performing well in all its verticals. 

Cardano Founder Charles Hoskinson Reveals the Mystery Behind ADA’s Success 

Basking in the recent positive market momentum, Charles Hoskinson has tweeted the reason behind ADA’s consistent success. 

Hoskinson took to X to share a quote from a series called “Westworld,” which explains the intent of ADA on a larger scale. 

“When I think of the why behind Cardano’s contrast with the rest of the industry, I can’t help but recall this scene from Westworld where Dr. Ford eloquently explains how magic is made. What we do is subtle. And that’s what makes all the difference.“ Hoskinson shared. 

The tweet was met with mixed reactions within the ADA community. Some Cardano proponents were quick to revert to a philosophical fervor.