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Cardano Price Forecast as ADA Pumps Up 44% in 30 Days – Can ADA Reach $10 This Year?

Source: Trading View

Cardano’s price has risen by just 0.2% over the past 24 hours, reaching $0.378397 amid similar gains across the cryptocurrency market. This means that ADA has increased by 8% in his one week and just over 44% in the last 30 days as the market awaits a new Cardano update that expands the capabilities of the smart contract programming language.

Cardano’s latest update is just the latest in a series of upgrades that have turned blockchain into one of the most capable Layer 1 networks in the cryptocurrency ecosystem. And since Cardano has yet to capture a significant share of the total value pegged to this ecosystem, ADA could easily hit integers or higher this year.

Cardano Price Prediction With ADA Up 44% In 30 Days – Can ADA Hit $10 This Year?

The ADA’s chart shows it has gained momentum over the past few weeks. The Relative Strength Index (purple) has climbed above 70 again, suggesting strong buying pressure could continue for some time. doing.

Source: Trading View

Similarly, its 30-day moving average (red) has clearly started to move up towards the long-term 200-day average (blue), indicating an upcoming turnaround that itself marks a significant breakout.

While the technicals alone show that ADA (like much of the market) was waiting for a significant recovery, the fundamentals also point to sustained price gains this year.

As mentioned above, the next upgrade is scheduled for February and will bring a significant upgrade to the Plutus smart contract language. Essentially, this update “supports ECDSA and Schnorr cryptographic signatures to make it easier for developers to build cross-chain apps,” and Cardano will immediately benefit from interoperability. Become.

Yes, this update will allow developers to build dapps for various other blockchains, not just Cardano. This encourages greater development, as teams and companies know the platform will be exposed to a larger potential user base.

More generally, Cardano’s recent development leaves ADA holders with plenty of reason to be optimistic about the altcoin’s prospects. Its ecosystem has grown steadily over the past few months, with over 1,100 apps and projects currently built on its network and over 110 projects already launched.

What’s interesting about Cardano’s recent growth is that since the network enabled smart contracts last September, over 5,400 Plutus scripts (i.e. Cardano’s smart contract version) have been deployed. This number is likely to increase further after the February update, allowing the Cardano ecosystem to expand its tentacles.

in the meantime Lock in the total value of Cardano Still relatively small, at $77 million, it’s grown 57% since January 1, showing how fast the network is growing. In fact, GitHub data consistently shows Cardano to be either the network with the most daily activity, or the most active one.

What’s impressive here is that even with its relatively small size, ADA

The point here is that even with a low TVL, ADA is still the 8th largest coin on the market. So, as Cardano develops further and attracts more adoption, ADA will become even more valuable and move up the rankings.

Its market cap is only 6.75% of ETH’s market cap of $13.2 billion compared to $195.3 billion. Assuming ADA reaches 20% of ETH’s cap, its price rises to around $1.15. This is a very achievable goal in the coming months.

If cryptocurrencies enter a new bull market, ADA prices could rise further. Some experts have set a long-term target around $5.30. for coins.This target could even be exceeded if the market really takes off. When Cardano is taken seriously.

Cardano alternative

Of course, it may take months, if not years, before ADA reaches $10 or more. For some traders, this may be too long to wait and they may be advised to look elsewhere.

One promising area is presales, which performed well in 2022 despite the bear market. Tamadog (TAMA) 1,800% more than the pre-sale price Listed on OKX in October.Even more impressive is the lucky block (LBLOCK) 6,000% In February, compared to the sale price of $0.00015.

With this in mind, we’ve picked three of the most promising presales going on right now. Each of these sales includes new altcoins with very promising fundamentals, and could record strong returns when each goes public for the first time in the coming months.

Metamasters Guild (MEMAG)

Metamasters Guild has now raised over $1.2 million in pre-sales, demonstrating how popular the play-and-earn gaming platform is with investors even before it officially launches. In fact, the second tier of this sale has just sold out and MEMAG’s price has increased from $0.01 to $0.016.

Scheduled to release its first game in Q3 2023, Meta Masters Guild is a mobile-focused gaming guild that develops a variety of Web3 and play-to-earn games. Its native token, his MEMAG, will be used not only for governance purposes, but also for staking and purchasing items and his NFTs.

Visit Metamasters Guild Now

Fight Out (FGHT)

fight out (FGHT) is a platform for earning by combining real workouts with Web3 when it launches in the second quarter of this year. It tracks and rewards a much broader range of workouts than his previous M2E platform, including boxing, weightlifting, and yoga, while also offering a variety of in-app and his IRL courses at its own branded gym. .

Its token sale started in December and has already raised over $3.2 million, with 1 FGHT currently priced at $0.0166. The sale will close on March 31st and he is scheduled to be listed on the exchange from April 5th.

Visit Fight Out Now

C+ Charge (CCHG)

C+ charge (CCHG) is a new peer-to-peer payment network for electric vehicle (EV) charging stations. Based on the BNB chain, which has raised over $370,000 in token sales, aims to democratize access to carbon credits using blockchain and crypto, and native his CCHG network set to be used by his EV owner to charge the vehicle.

C+Charge provides users with NFT-based carbon credits to incentivize people to go green by charging EVs at stations.We also already have partnerships flow carbon And Perfect Solutions Turkey has added 20% of Turkey’s EV chargers to its network.

Visit C+Charge Now

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