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- Cardano advocate Dan Gambardello predicted ADA’s market cap might attain $500 billion within the subsequent bull market.
- Gambardello drew similarities between Cardano’s current state and Ethereum earlier than the 2021 bull market.
- Information from CoinMarketCap present ADA has declined by 1.55% within the final 24 hours.
Longtime Cardano advocate and founding father of Crypto Capital Enterprise Dan Gambardello, in a latest tweet on X, made a bullish prediction that ADA might enhance past current market cap ranges within the close to future.
Gambardello, famend for his many optimistic takes on ADA, stated the token might hit new highs within the subsequent crypto bull market. The crypto analyst drew a line between Cardano and Ethereum to drive residence his argument.
In accordance with Gambardello, Ethereum topped out round $100 billion within the 2017 bull market. He continued that the mixing of Decentralized Finance initiatives got here within the 2018 bear market. “Subsequent bull market, ETH topped out at round $500B,” he stated.
Elaborating extra on how that applies to ADA, Gambardello stated ADA peaked at round $100B within the 2021 bull market. He said that Cardano DeFis got here on-line in the course of the 2022 bear market, thus suggesting that the token might attain what can be a formidable $500 billion.
The tweet, which has since garnered the eye of Cardano group members, comes at a time when ADA advocates have accused founder Charles Hoskinson of stagnating progress on the blockchain. Final month, ADA dropped to one among its lowest ranges seen this 12 months.
Information from CoinMarketCap reveals that the token is at the moment exchanging arms at $0.2471, a 1.55% decline up to now 24 hours. Thus far this week, the token has seen excessive volatility, rallying as excessive as $0.2524 and dropping all the way down to lows of $0.2458.
ADA’s commerce volumes have additionally plummeted, registering a 27.88% drop within the final 24 hours. The token has a market cap of $8.7 billion, making it the Eighth-largest cryptocurrency community on the earth.
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