Criticized for its weak price movements, Cardano (ADA) is preparing to change direction with its latest partnerships. Dan Gambardello, a popular altcoin analyst, made a stunning 50x prediction at this point.
Cardano expands its influence in Africa and Asia through Adaverses
Adaverse, an investment firm focused on blockchain projects, has turned its focus to Africa and Asia in its mission to help billions of people access economic and social opportunities. The company is a part of Cardano’s finance, agriculture, healthcare, education, etc. aims to complete its efforts to revolutionize the sectors in these regions.
Cardano is preparing Blockchain solutions that address issues such as corruption, inefficiency and lack of transparency in Asian countries. For example, in Vietnam, Cardano is working with EMURGO to develop a Blockchain-based platform for the coffee industry.
https://twitter.com/emurgo_io/status/1442206517739020291
Overall, Cardano’s mission to help billions of people in Africa and Asia stems from its belief that Blockchain technology can be a powerful tool to support economic and social progress. Cardano is poised to become a leader in the trillion dollar markets of Africa and Asia by providing innovative solutions to some of the biggest challenges these regions face.
Cardano news of the last months in the altcoin market
In January, Cardano invested in digital banking platform BoundlessPay to scale cross-border payments. It also recently announced the launch of Hydra, a scaling solution for its ecosystem.
Hydra marked an important milestone in Cardano, paving the way for a new era of scalability.
Hydra is a family of layer 2 protocols designed to make #Cardano more scalable and adaptable for various use cases that require fast and cheap transactions. The first Hydra head recently opened on mainnet.
This video is a great starting point for exploring the current release,… pic.twitter.com/g1moYifGNj
— Input Output (@InputOutputHK) May 4, 2023
With the ability to process transactions cheaper and faster on the Cardano network, the launch of the first Hydra upgrade is expected to significantly increase Cardano’s transactions per second (TPS) to 1 million from 250 prior to Hydra’s launch.
Additionally, Cardano’s TVL is expected to increase further as new DeFi altcoin projects start on the L2 network. Prior to that, Cardano’s TVL has increased steadily over the past six months. According to Artemis, its TVL’s seven-day moving average was $154 million, a level last observed in May 2022.
Over the last six months, $ADA TVL has consistently increased.
Currently, the seven-day moving average sits at $154m, a number that has not been seen since May 2022. pic.twitter.com/wkbYoAddQb
— Artemis (@Artemis__xyz) May 3, 2023
Dan Gambardello expects 50x increase in altcoin’s market cap
The popular crypto analyst posted a Youtube video today in which he talks about bulls waiting in Cardano. In the video, he shared his belief that ADA is fundamentally strong, given the recent launch of the Hydra scaling solution.
Gambardello stated that the latest Hydra launch makes ADA technically strong as well. He added that he believes ADA is in a better position than Ethereum on the road to the 2017 bull run. However, he estimates ADA’s market cap to reach $500 billion. He even suggested that this could happen in the next crypto bull run.
However, Gamberdello notes that his predictions are long-term. As we covered in the cryptokoin.com analysis, Cardano bulls are currently busy holding critical supports.
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