Cardano Price Forecast – Here’s Why ADA Can Reach $5 in 2023
Cardano's price has dropped by more than 70% since the beginning of the year 2022, and it now trades at $0.36. But has it reached oversold territory, and can we expect the Cardano price forecast to be bullish and reach $5 in 2023? Let's find out!
Cardano's current price is $0.36, with a 24-hour trading volume of $300 million. Cardano has fallen by 0.05% in the last 24 hours. CoinMarketCap currently ranks #8 with a live market cap of $12 billion.
There are 34,288,481,618 ADA coins in circulation, with a maximum supply of 45,000,000,000 ADA coins.
The Cardano network is unwavering in its belief that the network's "greatest days" are yet to come. A Cardano-centric Twitter account, ADA whale, has made a startling forecast about what may occur on the network if the market crash ends.
It has been predicted by the ADA whale that Cardano will host the greatest DeFi trading platform during the next bull run. He also predicts that Cardano will host the fastest-growing mobile network and the largest DID project, as well as the largest book NFT platform supported by major publishing houses.
According to him, Cardano has survived "bulls and bears" scenarios, which is why he can make such predictions with such certainty.
According to data shown in a new infographic by Cardano Daily, the cryptocurrency has been able to keep its spot among the top 10 by market cap for the last seven consecutive quarters. This is a feat regardless of whether the market is booming in 2021 or tanking in 2022.
The development of the Cardano ecosystem is one factor contributing to the optimism of fervent ADA investors.
Cardano's commercial and venture capital arm EMURGO has recently established a $200 million fund to incentivize enterprises built on the network,
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