- Cardano’s fractal pattern points to a potential 2,288% gain by 2025, starting with a breakout in November.
- Hoskinson envisions Cardano powering a nation-state by 2030, with millions of users on board.
As a seasoned researcher who has witnessed the rise and fall of numerous cryptocurrencies, I find myself increasingly intrigued by Cardano [ADA]. The fractal pattern that ADA seems to be following is reminiscent of the stock market charts I used to pore over during my days as a Wall Street analyst.
It seems that Cardano (ADA) might be preparing for an upward surge, as current market trends hint at a substantial price movement approaching. As of now, ADA is trading at $0.348, marking a 3.30% growth in the last day. However, it’s important to note that over the past week, there has been a minor drop of 4.50%.
According to crypto expert Ali, the current trend of ADA appears similar to its behavior in 2020, suggesting a possible price increase around mid-November, which aligns with the U.S. election date.
Ali noted,
Should past trends continue, there could be a significant rise (pump) around November 18, while the market peak might be reached as early as September 2025.
ADA’s historical patterns indicate potential upside
It’s been observed that Cardano tends to surge after extended periods of consolidation. In the year 2020, the amassing stage of ADA lasted for about 672 days, resulting in a decrease of approximately 56.20% during this phase.
Over a period of 324 days, there was an extraordinary increase of approximately 4,096%, implying that if the present circumstances persist, such high-growth potential could be repeated.
Lately, ADA underwent another period of consolidation that lasted approximately 455 days, resulting in a drop of around 65.93%. However, it subsequently saw a recovery of about 75.34% over the course of 426 days.
Over the past 455 days, this consolidation period is ongoing, leading experts to predict a possible increase of approximately 2,288.92% within the next 392 days. This potential growth could drive the price up to around $6.317.
Based on past patterns, it’s likely that the predicted surge will start approximately by November 18, 2024. This period could last until September 1, 2025, provided that historical tendencies persist.
Cardano’s growing TVL and on-chain activity
The decentralized finance environment associated with Cardano is exhibiting signs of expansion as well. As per DefiLlama’s latest data, the total value locked (TVL) within DeFi protocols on the Cardano network currently stands at approximately $218.88 million, representing a 1.58% growth over the past day.
This reflects a gradual increase in Cardano’s network usage and adoption.
25,812 unique wallets are actively using Cardano (ADA), implying sustained interest from its users. This high level of interaction with the blockchain might foster a bullish trend for ADA prices, especially if the general crypto market experiences an uptick over the next few weeks.
Futures and options activity suggests increased market participation
According to Coinglass, there’s been a significant boost in Cardano’s (ADA) trading activity, futures contracts, and options trading. The volume of ADA’s futures contracts skyrocketed by 184.18%, amounting to $7.33 billion, and the open interest for these contracts climbed by 37.24% to reach $1.33 billion.
Furthermore, the trading volume experienced a significant surge of approximately 95%, amounting to around $819,750. Simultaneously, open interest witnessed a growth of about 16%.
This spike in derivatives trading indicates growing trader interest in ADA, as market participants position themselves ahead of a potential price move.
As the heightened action follows the general pattern of ADA’s price fluctuations, it suggests that there could be increased volatility, as investors aim to profit from anticipated price fluctuations.
Read Cardano’s [ADA] Price Prediction 2024–2025
Cardano’s long-term vision for a nation-state
Furthermore, Charles Hoskinson, the founder of Cardano, has shared his vision for the blockchain’s future in a keynote speech titled ‘After Voltaire: The Next Evolution of Cardano’. Hoskinson anticipates that by 2030, Cardano may have a significant impact on managing a nation-state.
Highlighting its scalability and eco-friendliness, Hoskinson predicted, “By that time, we anticipate a massive user base of millions in the Cardano network.
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2024-10-30 03:04