The bullish onset of the market has yet to offer its grace to Cardano (ADA). The token has long been experiencing a stark price slump, unable to break past its critical price barriers. ADA has lately been hovering between the price range of $0.38 and $0.43, unable to break past it to streamline its bullish momentum.
In the midst of it all, an unprecedented attack on ADA brought forth Cardano’s robustness and strength, giving ADA a much-needed popularity boost.
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Cardano Survives a DDOS Attack
On Tuesday, Cardano went through an unprecedented DDOS attack. To elaborate on details, the attack was initiated at 10,487,530 block, with each transaction executing 194 smart contracts. The attacker later spent 0.9 ADA per transaction and tried to fill each block with numerous transactions to compromise the network’s integrity.
However, the attacker was unable to get past Cardano’s robust chain barriers. The attack merely slowed the chain down without impacting its overall prestige or functionality.
“So let me get this straight… A hacker tries a DDOS attack on Cardano, and the chain just slows down. Nothing else happens, and the scammer actually gets $ADA stolen from him?? Am I hearing this right, because if so, Cardano is literally the 🐐.”
The aforementioned event ushered in a wave of new comments and discussions within the crypto community. Several crypto analysts praised Cardano’s robustness, adding that the chain is well deserving of praise for its recent attack mitigation quality.
Cardano’s Road to $1: When?
ADA has long been consolidating. The token has yet to show a significant price action, despite being in the mainstream news for all the right reasons. The token’s upcoming Chang hard fork upgrade is dubbed a monumental new update, which may bring in a new price for ADA to encounter.
According to CoinCodex, ADA may plummet by 5% to trade at a price level of $0.35 by June.
“The Cardano price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these Cardano projections, ADA will be changing hands at $0.35825 on July 4, 2024, losing 5.54% in the process.”
At the same time, the platform precuts the token to encounter some respite by July 28, gaining 6% in the process.
“According to our current Cardano price prediction, the price of Cardano may rise by 6.74% and reach $0.404794 by July 27, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 40 (fear). Cardano recorded 12/30 (40%) green days with 7.11% price volatility over the last 30 days.”
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For ADA to hit $1, CC shares that the token will have to surge by nearly 301%. The timeline for ADA to hit $1 is slated for the end of 2024.
“Cardano may trade within a range of $0.350732 and $1.522103. If it reaches the upper price target, ADA could increase by 301.23% and reach $1.522103.”