- Cardano advocate Dan Gambardello predicted ADA’s market cap may 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 may increase past current market cap ranges within the close to future.
Gambardello, famend for his many optimistic takes on ADA, stated the token may hit new highs within the subsequent crypto bull market. The crypto analyst drew a line between Cardano and Ethereum to drive dwelling his argument.
In line with Gambardello, Ethereum topped out round $100 billion within the 2017 bull market. He continued that the combination of Decentralized Finance tasks 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 through the 2022 bear market, thus suggesting that the token may attain what can be a formidable $500 billion.
The tweet, which has since garnered the eye of Cardano neighborhood members, comes at a time when ADA advocates have accused founder Charles Hoskinson of stagnating development on the blockchain. Final month, ADA dropped to certainly one of its lowest ranges seen this 12 months.
Information from CoinMarketCap exhibits that the token is at the moment exchanging fingers at $0.2471, a 1.55% decline previously 24 hours. Up to now this week, the token has seen excessive volatility, rallying as excessive as $0.2524 and dropping right 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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