Crypto Capital Venture founder and Cardano fan Dan Gambardello is pretty confident ADA will hit 50 cents by the end of this month — and is willing to drop 1,000 ADA tokens wagering on it.
$0.50 ADA Coming?
Cardano’s ADA has been one of the worst-performing crypto assets since the beginning of the year. ADA even dropped out of the elite top 10 crypto league. At the time of writing, ADA held the 11th-largest spot and was changing hands at around $0.3484, translating to a roughly 42% price jump if Cardano soars up to 50 cents.
Cardano will need strong bullish catalysts or a significant feat to reach the forecasted heights. This would include a major event propelling liquidity toward the token and boosting its demand among investors.
Notably, Gambardello appears so convinced about his prediction that he promises to give 1,000 ADA coins to one of his followers should the prognostication materialize. The pundit did not reveal the rationale behind his prediction, though he is likely basing it on the fact that the month of October has traditionally been bullish for digital assets.
Major Milestones In the Cardano Ecosystem
Layer-1 blockchain Cardano has, in recent weeks, undergone game-changing upgrades that have arguably increased ADA’s utility and adoption.
On Sept. 1, Cardano executed the Chang hard fork, successfully entering the Voltaire Era and introducing on-chain governance using its native token ADA. Following the hard fork, which Cardano founder Charles Hoskinson touted as “one of the greatest technical achievements in human history”, ADA token holders now have the power to elect representatives and vote on important development proposals.
Moreover, Hoskinson recently revealed that Ouroboros Leios and rollups are soon coming to Plutus V3 and the Hydra scaling tool.
More recently, Cardano made history by hosting the first legally enforceable smart contract, fully compliant with the laws of Argentina. This development allows contracts written in ADA to be upheld in Argentine courts, marking a huge step towards the integration of crypto assets into traditional legal systems.
