A popular Youtube analyst says a PoS Blockchain could rally amid Ethereum’s recent lackluster performance. Let’s take a look at the current altcoin price predictions, keeping in mind that the predictions are not exact.
Here are the predictions for the future of a strong Ethereum competitor
Coin Bureau analyst, whose analysis we share as Kriptokoin.com, discusses how Cardano (ADA) can rise while Ethereum is stagnant. The crypto analyst nicknamed “The Guy” tells his 2.03 million subscribers that Cardano is witnessing an explosion in adoption behind the scenes:
The number of unique Cardano wallets has increased by more than 50%. The number of Cardano products has more than doubled, dozens of DApps are deployed, hundreds of Cardano DApps are in development. This shows that there is still a lot of demand for ADA from individual investors and users. Note that there is also a significant amount of demand for ADA from institutional investors.
As for why Cardano is on the decline, Guy says the ninth largest cryptocurrency is highly correlated with Bitcoin (BTC). He adds that heavy sales from fintech companies are also contributing to ADA’s current price action:
The continued decline in ADA’s price despite this supposedly strong demand can only mean one thing… More selling pressure is coming from elsewhere. My best guess is IOG, Emurgo and the Cardano Foundation, which are aggressively expanding their teams, forming partnerships, supporting upcoming Cardano projects, and even directly acquiring crypto-related companies to build Cardano infrastructure. There is no doubt that this will lead to serious growth for ADA in the long run, but there is no doubt that this selling pressure is suppressing ADA’s price potential in the short term.
The future of the altcoin project depends on upcoming milestones
How high the price of Cardano can go, the analyst says it will depend on future developments of the Blockchain:
Combine this constant selling pressure with Cardano’s huge market capitalization and ADA will be lucky enough to draw 2x from here in the short term. But it’s a very different story when it comes to ADA’s long-term potential, and how high ADA can rise in the long-term ultimately depends on Cardano’s upcoming milestones.
14060
