- A cryptocurrency analyst predicted that ADA’s price could reach $11 during the next bull cycle.
- Catalysts like ADA’s increasing TVL and adoption could fuel a price climb to the analyst’s target.
- At press time, ADA was worth $0.3845 after its price managed to climb by 2.55% throughout the past 24 hours.
Crypto analyst Dan Gambardello predicted that Cardano (ADA) could soar to as high as $11 in the next bull cycle. According to Gambardello, this substantial increase in the altcoin’s price would boost its total market capitalization to over $400 billion.
The analyst went on to explain that he believes ADA is one cycle behind its biggest competitor, Ethereum (ETH). Furthermore, he shared that ADA was able to soar above the $3 mark during the previous cycle despite not having all of the network upgrades and increased adoption it has recorded over the past few months.
Gambardello anticipates that factors such as Cardano’s Total Value Locked (TVL) continuing to rise, as well as the Vasil Hardfork upgrade, could be major catalysts for the altcoin’s price in the next bull market. In addition to this, the introduction of Cardano’s multi-asset ledger an…
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