On Thursday (August 19), the crypto analyst who is the host of crypto-focused YouTube channel “Thinking Crypto” said that Cardano $ADA token is flexing “its pump muscles” right now.
And flex, it did.
According to data from TradingView, on crypto exchange Kraken, around the time the above tweet was posted, $ADA as trading around $2.3468. Within less than two hours, it had broken its previous all-time high of $2.4223 (which was set on May 16) on its way to new all-time highs, reaching $2.6471 at 08:00 UTC (August 22), which is currently today’s intraday high.
One of those who believes that Cardano’s current bull ran has serious staying power is Dan Gambardello, Founder of Crypto Capital Venture, who believes that $ADA — despite having increased in value 1390% so far in 2021 — is still undervalued at these levels.
On Friday (August 20), Tim Harrison, the marketing and communications director at IOG (aka “IOHK”), the technology company that develops the software implementing the Cardano protocol, said that many people underestimate the “sheer scale” of his company’s plans for Cardano.
And yesterday, crypto analyst Tai Zen predicted that in the next crypto bull cycle Cardano’s market cap will surpass those of all other smart contract platforms (including Ethereum).
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.