Cardano Price Surge Waits 36% If This Scenario Deploys, Predicts Analysis Firm ⋆ ZyCrypto

Cardano ADA At the time of writing, it’s trading at $0.394350, so it’s growing about 59% on a year-to-date basis. Dubbed the “Ethereum killer,” the cryptocurrency may have already made big profits this year, but it appears to be on the upswing.

Blockchain analytics platform Santiment believes ADA may be gearing up for a face-melting pump. Analysts expect a rise of more than 36% if this scenario repeats itself.

Will history repeat itself with a 36% rise in ADA?

According to technical indicators, ADA’s price could rise by nearly 40% in the coming weeks.

According to Santiment, ADA whale activity has increased dramatically since early 2023. The last time his ADA transaction numbers above $100,000 were this high was in May, and the token price has soared by more than 36% in 2023. week.

History does not repeat itself in crypto markets, but history rhymes. If this trend materializes, ADA, the eighth-largest cryptocurrency by market cap, could rise 36% in the coming weeks.

Santiment data also shows that the number of addresses holding 1-100 million ADA tokens has increased by 36 since the beginning of the year. If the history of large trades repeats itself, the price of ADA could rise quickly.

Expectations are quite possible given cryptocurrency’s bullish fundamentals.others booting normally The ecosystem’s overcollateralized stablecoins, Djed, and Cardano network developers are currently working on updates to increase interoperability and cross-chain compatibility.

The confluence of these factors suggests that the ADA will likely slaughter the bears on its way to an impressive +36% rise in the near future.