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Cardano ($ADA): Analyst predicts upward trend

Tue 01 Aug 2023 ▪ 3 min of reading ▪ by Evans S.
Getting informed Stablecoin

The crypto sector is a tumultuous sea, sometimes capricious, sometimes farsighted. According to renowned analyst Dan Gambardello, Cardano ($ADA) could soon be making meaningful waves.

Next Crypto Boom: Cardano Gears Up for the “Explosion”

Reaching a new zenith

Driven by the growth of its DeFi ecosystem, Cardano’s stock looks set for a meteoric rise, announces Gambardello.

Looking at Ethereum’s track record ($ETH), Gambardello notes a remarkable progression. Initially, Ethereum’s DeFi ecosystem had $400 million in escrow. Then, this value exploded, leading to a market capitalization of over $100 billion.

Considering this rise, he sees Cardano as having equivalent potential. With nearly $180 million already tied up, the launch pad for ADA looks set for imminent take-off.

Despite a recent fall in the ranking of digital assets by market capitalization, overtaken by the frivolous Dogecoin ($DOGE), Cardano doesn’t seem to be falling behind.

Despite what some might think, Cardano is showing signs of exceptional strength. On the one hand, the significant increase in the number of decentralized applications on its network, now exceeding 20, bears witness to this dynamic. What’s more, with many more in development, Cardano’s future looks set to be filled with unprecedented vitality.

Cardano and the growing importance of ESG criteria

The crypto landscape is no longer limited to pure performance. Environmental, social and governance (ESG) criteria are gaining in importance among institutional investors and funds. Cardano stands out in this field, mentioned among the top cryptos in terms of ESG score in CCData’s ESG Benchmark report.

This report projects exponential growth in assets under management linked to ESG criteria, reaching $33.9 trillion by 2026. Against this backdrop, the importance of Cardano’s commitment to these criteria cannot be underestimated.

Despite recent challenges in the crypto market, Cardano has held its own in the crypto landscape. Riding the waves of the crypto market, the platform is preparing to hoist its sails for a remarkable ascent.

This is Dan Gambardello’s interpretation of Cardano’s current situation. Of course, only the evolution of the market can confirm or deny this prediction. But one thing is certain: all eyes are on Cardano, watching to see which way this rising star of the crypto sector will go. The project does not hesitate to unveil its network deployment strategy.

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Evans S. avatar
Evans S.

Fasciné par le bitcoin depuis 2017, Evariste n'a cessé de se documenter sur le sujet. Si son premier intérêt s'est porté sur le trading, il essaie désormais activement d’appréhender toutes les avancées centrées sur les cryptomonnaies. En tant que rédacteur, il aspire à fournir en permanence un travail de haute qualité qui reflète l'état du secteur dans son ensemble.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.