The Cardano network is showing bullish signs, which suggest that a price surge may very well be on the horizon for the ADA token. Based on price predictions made by some crypto analysts, the crypto token could rise to as high as $10 when this happens.
Cardano Network Is Healthy
Crypto analyst Ali Martinez highlighted in an X (formerly Twitter) post that the Cardano network appears healthy. This relies on several metrics wherein the network continues to experience significant growth. This includes the notable rise in each day energetic ADA addresses, transaction volume, and transactions from ADA whales.
Martinez noted that this increasing activity “signifies strong network engagement and investor interest, positive indicators for continued growth.” It further suggests that more investors are increasingly bullish on the Cardano ecosystem (specifically ADA) ahead of the next bull run.
Cardano’s growth since last 12 months has been one amongst a very powerful talking points for some time now. Firstly of this 12 months, Bitcoinist reported that the network had gained more adoption since last 12 months. Notably, Cardano achieved a giant milestone in December 2023, when all its blocks were reported to have been filled.
More recently, Bitcoinist also reported how the network has seen massive growth in latest wallets. Between February 22 and 23, Cardano witnessed almost a 90% jump in wallet creation, increasing from 1,706 to a few,227. The report also noted how Cardano has a diversified investor base, with retail and large-scale investors wanting to get in on the ADA token.
ADA To $10?
Cardano’s impressive on-chain fundamentals little doubt point to an infinite rally from the ADA token. It also provides optimism that the crypto token rising to as high as $10 throughout the bull cycle is possible. Before now, several analysts had given their thoughts on how ADA’s price could increase exponentially when the bull market returns.
Crypto analyst Dan Gambardello was amongst those who painted essentially probably the most bullish picture for ADA, stating that it could rise to as high as $11. This prediction signifies that ADA is just not going to only rise to the $10 mark but as well as surpass it. Meanwhile, crypto expert Jason Appleton (aka Crypto Crow) went thus far as predicting that ADA will rise to $32 and noted that it might probably be one in all the vital altcoins when that time comes.
Ali Martinez once offered his ADA prediction when he mentioned how ADA could rise to $7 if it mirrors a historical move from 2020. ADA hitting $7 will undoubtedly make the $10 mark more feasible.
On the time of writing, ADA is trading at around $0.78, up over 11% throughout the last 24 hours, in response to data from CoinMarketCap.
ADA price at $0.78 | Source: ADAUSD on Tradingview.com
Featured image from Zipmex, chart from Tradingview.com
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