Prominent Crypto Analyst Indicates ‘Massive Buy Zone’ For $ADA
A well-known cryptocurrency analyst, Michael van de Poppe, has published his thoughts on the revolutionary contract platform Cardano ($ADA), pointing to a long-term, colossal area to invest in the coin.
In a post to his over 600,000 Twitter followers, van de Poppe indicated that Cardano is approaching a large area to buy as a long-term investment and may even be the low of this bear market.
Request 04 – $ADA
Long-term, massive area to buy for investments.
Might even be the low of this bear market. pic.twitter.com/wdYiJgRuYS
— Michaël van de Poppe (@CryptoMichNL) October 30, 2022
Van de Poppe’s chart indicates that the region is below $0.41. The $ADA price, which is probably inside van de Poppe’s specified range, is $0.405 at the time of writing, according to statistics from CryptoCompare. Last month, Cardano fell as low as $0.35 before climbing back up.
Ethereum ($ETH) and Cardano ($ADA) Price Increased
Ethereum ($ETH) and Cardano ($ADA) drove the cryptocurrency market’s rebound earlier this week after $ETH surged up 13.4% and $ADA 9.2% in a single day.
Cardano’s price has increased along with the rest of the cryptocurrency market. Still, it may outperform other assets because its CEO, crypto billionaire Sam Bankman-Fried (SBF), has stated that the trading platform will soon offer Cardano because it is on the exchange’s roadmap.
The ADA perpetual contracts have been listed on FTX’s international exchange, and spot ADA trading will be added, according to SBF, who insisted that this is categorically not the case.
This remark was given in response to a statement made by a member of the Cardano community that FTX would not list $ADA because they view Cardano as a threat to everything they want to control.
Blockchain Networks will Emerge from Cardano
IO Global, the organization in charge of Cardano’s R&D, co-founder and CEO Charles Hoskinson said earlier this month that Cardano would eventually develop into a network of blockchains. When you consider the sidechain side of things, there may be dozens or even hundreds of sidechains operating concurrently, all tuned to pacific things, according to Hoskinson.