The post Cardano Price: Analyst Predicts Possible All-Time High appeared on BitcoinEthereumNews.com.

Cardano (ADA) price has recently surged, and market analysts are now looking at the possibility of ADA to reach its all-time high within the next 30 to 60 days. Dan Gambardello, a crypto analyst,  states that ADA is capable of rising above $3 by December. This forecast was derived using technical analysis, the technology developed by Cardano, and a change in political outlook regarding regulations. Technological Advancements Boosting Cardano’s Scalability As one of the major factors supporting the bullish sentiment on ADA, Cardano has recently solved its scalability issues. – Advertisement – The blockchain recently hit 1M transactions per secondTPS while executing Doom on Hydra, which is its layer two solution. This achievement shows ADA possessing the ability to scale and supports the platform’s uniqueness among various blockchain projects. With such technological enhancements, Cardano is poised for a massive market share. The decentralization and security of Hydra to process millions of transactions are critical for Cardano price in the future. – Advertisement – This scalability could bring more developers and projects into Cardano’s ecosystem thus adding further demand for ADA. Political Shift Could Favor Cardano’s Growth Yet another aspect that forms the basis of Cardano price prediction is political shift within the United States Securities and Exchange Commission. As argued by Gambardello, the agency has recently undergone significant changes in the leadership, with Paul Atkins, the former SEC Commissioner, as the chairman of the agency. Atkins has been a consistent advocate of blockchain technology since its inception. More so, his previous association with Cardano through a collaboration and a speech he made at a conference in 2020 has created a positive sentiment among investors. According to Gambardello, this transition will provide more regulatory certainty for the crypto ecosystem, favorable for an asset such as Cardano. A favourable regulatory environment may…

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Filed under: News - @ December 5, 2024 9:25 pm