- Cryptocurrency expert Psyclops predicts Cardano (ADA) to reach $10.
- Cardano faced delays in smart contract implementation, affecting DEX development.
- ADA’s price increased over 65% since November 12, according to CoinMarketCap.
In a latest Twitter post, a prominent cryptocurrency expert known by the handle “Psyclops” conveyed his excitement for the cryptocurrency initiative Cardano
Psyclops initially reflected on the previous surge in the market, emphasizing the difficulties encountered by Cardano due to postponed smart contract implementations, which led to a situation where none were prepared to launch. He pointed out that this postponement caused a need for more operational decentralized exchanges (DEXs) built on the Cardano platform.
Nevertheless, despite these difficulties, Psyclops noted that ADA reached its highest value of $3.10 during the bull market’s peak in 2021.
At the same time, Psyclops emphasized that there has been a significant change in the Cardano ecosystem. The analyst noted that a collection of decentralized finance (DeFi), RealFi, and utility NFT ecosystem projects have been established and operational on Cardano.
He contended that it is premature to declare the onset of a major cryptocurrency bull market, and he described the excitement over ADA’s climb to the $0.6 range as ‘ridiculous.’ His comment implied that Cardano could reach a much higher value than the sub-$1 levels currently being applauded.
Psyclops downplayed the present enthusiasm in a sarcastic manner by commenting, “Wake me up when we’re at $10.” His tweet prominently featured the market chart for ADA, showing its price history from the beginning. The chart contained an arrow indicating the steep upward path ADA is anticipated to take in the upcoming weeks as the bull market slowly emerges.
According to information obtained from CoinMarketCap, ADA has experienced an increase exceeding 65% from its price on November 12, which was $0.3787, rising to $0.6323. An ascent from its present value to $10 would represent an increase of 1,478% in percentage terms.
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