Every week we provide insights into popular assets and hot topics in crypto, so you can easily learn more about the crypto market in bite-sized pieces.
In this Crypto in Focus we take a closer look at Cardano.
Cardano! A Technological Revolution or Just a School Project? 🤓
Cardano (ADA) features a unique architecture built on a Proof of Stake (PoS) protocol, replacing traditional, energy-intensive mining methods. This innovative approach ensures faster and more efficient transactions with a lower environmental impact. By doing so, Cardano has established itself as a leader in sustainability and security within the crypto space.
Recently, the release of 18 mil. ADA tokens has sparked considerable interest among investors, particularly concerning the potential impact on the price due to an upcoming emission scheduled on Saturday. This release will unlock an additional $6 mil. worth of tokens to the market, which will be used for staking and reserves. While this relatively small change may have minimal immediate effects, even minor fluctuations in circulating supply can significantly influence liquidity and demand over the long term. Notably, over 6.8 bn. ADA—approx. 15%—remains locked. 🔒
Popular crypto analyst Dan Gambardello (@cryptorecruitr) recently shared his price prediction for ADA on X. According to him, Cardano could easily break the $1 barrier by the end of this year, with the potential for a substantial increase reaching between $5 and $10. From the current price of ADA ($0.34), this indicates a potential increase of approximately 300% by the end of the year, with the possibility of an even greater surge in the upcoming years.
