There are very few cryptocurrencies at the moment that have the undivided attention and trust of their respective communities. This makes sense, considering the direction in which the blockchain industry has been moving for the past couple of months. However, some projects still seem to have been holding on and have been simultaneously showing high potential in terms of growth for 2023. One of them is Cardano, which is a name that a majority of crypto enthusiasts would have heard of at least once.
At the time of writing, the crypto market is valued at around $855 million and has been gaining momentum considerably. Despite being in a highly volatile state, investors seem to be bullish about the overall movement shown by the sector. As mentioned above, one such token that several investors seem to bank on is Cardano, and there are several reasons for the same. Let us take a look at why Cardano may be set up for an explosive pump in 2023.
Why will Cardano Soar?
Despite being slower in terms of development, the blockchain activity seen in Cardano has skyrocketed recently. Infact, it increased to such an extent that the crypto analytic firm Santiment noted that Cardano was the top blockchain in the world in 2022 in terms of development activity. A large part of this is due to the amount of code Cardano developers are contributing to open-source repositories, such as GitHub. A development activity indicates that a new feature is in the works or that a new product is on its way.
The blockchain industry has a trend of stocking up on tokens if there are any major events or upgrades to be expected. These generally end up increasing the value of Cardano considerably, as seen historically. Smart contracts were also introduced much later to Cardano than most of its counterparts. However, every upgrade or headline related to them has had a positive effect on the price of ADA.
The introduction of defi projects within the Cardano ecosystem may also help it gain more traction. This was expected since Cardano does provide a solid framework and platform for developers to build their own initiatives using minimal resources. The team has also kept most of the community excited for a while now by giving them a teaser for what may be in store for 2023 – not one, but two Cardano stablecoins.
How High can Cardano Go?
While speculating an accurate amount would be impossible, it goes without saying that a project as fundamentally strong and utility-driven as ADA may increase in price considerably as the market starts to turn green again. At the time of writing, ADA is trading at around $0.37 with a market cap of approximately $10.8 billion.
While the chances for ADA to go up are high, it may be futile to expect surprisingly high values soon. A practical price prediction for ADA should put it anywhere between $0.78- 1 by the end of 2023, provided the market takes a bullish turn. Since ADA is a large market cap token, there has to be massive volume and buying activity to help the price fluctuate even remotely. However, it still can be a safe and profitable addition to one’s portfolio in 2023.
Why will Dash 2 Trade be More Profitable?
Dash 2 Trade is a newly launched small market cap project with high utility and a massive community. It is a crypto analytic and social trading platform, which has gained unparalleled traction in the past couple of months. Since its presale, the project has racked up appreciation from the community for coming up with a project that is the need of the hour for retail investors.
As an initiative that instantly adds value for its users while also featuring an undervalued asset(its native token D2T), Dash 2 Trade has the potential to gain a much better and higher ROI than ADA under the current circumstances. Since the project has just concluded its presale, it will now be exposed to a wider audience, which will also help in increasing the value of the entire project.
With major developments in the pipeline, announcements and a string of upcoming centralized exchange listings, Dash 2 Trade can surely be considered a more profitable option currently.
While ADA can be a safer option due to its reputation and sizeable community, it is always a great idea to watch out for undervalued gems like D2T. It is an ideal pick for traders due to its utility, and for others too since the initiative is indeed built around a fundamentally strong concept.
FightOut (FGHT) – Newest Move to Earn Project
- CertiK audited & CoinSniper KYC Verified
- Early Stage Presale Live Now
- Earn Free Crypto & Meet Fitness Goals
- LBank Labs Project
- Partnered with Transak, Block Media
- Staking Rewards & Bonuses