It has been just revealed that the predictions for Cardano are more than optimistic. Check out the latest reports about the matter below.
ADA to surge in price by the end of the year
A well-known cryptocurrency trader has suggested that Cardano (ADA) might be following a pattern from a previous market cycle and could soon experience a surge in price.
Ali Martinez, a crypto analyst, informed his 32,800 X social media followers that the current consolidation trend for ADA is reminiscent of the asset’s 2018-2020 phase, especially when the COVID-19 price crash of 2020 is excluded.
“If so, ADA could break through the $0.45 resistance around the first week of December. The upswing could send ADA to $0.75 by late December.”
At the moment of writing, ADA is trading around $0.372. If it pumps to $0.75, it would mean a more than 100% increase for the 9th-ranked crypto asset by market cap.
Although ADA is up by more than 51% in the last month, it still remains 88% down from its all-time high of $3.09, which it reached in September 2021.
Litecoin (LTC), the 18th-ranked crypto asset by market cap, registered more than 1 million transactions on Tuesday, marking its biggest spike in daily activity ever.
LTC is currently trading at $71.20. Although it’s down by 4% in the last 24 hours, LTC remains up by more than 14% in the past month.
According to Martinez, peer-to-peer payments network Litecoin, along with other crypto assets, is worth considering for investment, notes the online publication the Daily Hodl.
At the beginning of this month, we noted the fact that Santiment, a market intelligence firm, has recently released new data indicating that Cardano (ADA), a competitor to Ethereum (ETH), has achieved a significant milestone.
According to the findings shared on the social media platform X by the crypto analytics firm, long-time ADA holders have started moving the largest amount of tokens in over a year.
More than that, the report reveals that deep-pocketed Cardano holders have aggressively accumulated nearly 44 million ADA tokens, which is worth about $12.67 million, in just two weeks.