Cardano (ADA), a platform for smart contracts, may soon reach $30 in price, according to a well-known cryptocurrency influencer. This would be a 9,900% increase from the platform’s current price of $0.303.
The price of Cardano could rise by almost 10,000%, according to the analyst going by the pseudonym Lucid, who made this prediction on the microblogging platform X (formerly known as Twitter). This is because global inflation could act as a catalyst to push the total capitalization of the cryptocurrency market over $10 trillion.
According to him, Cardano “is going for the 100x” since inflation seems to be declining and the value of fiat currencies throughout the world is declining.
ADA’s Bullish Forecast: Could Cardano Soar 9,900% to Reach $30?,ADA’s Bullish Forecast: Could Cardano Soar 9,900% to Reach $30?
For instance, inflation in the US has been gradually declining to 3.7%, while data from Truflation indicates that it is currently at 2.4%. In the eurozone, inflation fell to 2.9% in October, its lowest level in more than two years.
Market research company Santiment has revealed that Cardano, an opponent of Ethereum (ETH), has accomplished a significant on-chain activity milestone, as reported by CryptoGlobe.
In a recent social media post, Santiment noted that holders of ADA over an extended period of time have started to transfer a major amount of tokens, which is the largest movement in more than a year.
According to Santiment’s statistics, Cardano investors who possess considerable holdings have been aggressively purchasing more tokens. In particular, in just two weeks, these investors have accumulated around 44 million ADA tokens, which are estimated to be worth $12.67 million.
The company said that the usage of earlier ADA wallets has been especially significant. These wallets have initiated the process of reintroducing ADA tokens into circulation for the first time since April 2022. Wallets with a balance of 100,000–10,000,000 ADA are reportedly back in accumulation mode.
ADA’s Bullish Forecast: Could Cardano Soar 9,900% to Reach $30?,ADA’s Bullish Forecast: Could Cardano Soar 9,900% to Reach $30?,ADA’s Bullish Forecast: Could Cardano Soar 9,900% to Reach $30? , Cardano coin Crypto news, Cardano coin News