Why Analysts Believe Cardano Has 25x Price Potential Despite The Recent Crisis

  • Cardano price saw a drop in the market-wide crypto bloodbath, posting losses of 7.4% overnight.
  • Proponents say Cardano treasury intends to build projects like the algorithmic stablecoin Djed, in collaboration with COTI and ADA.
  • Analysts are bullish on Cardano and believe the altcoin has a 25x price potential.

Cardano treasury indicates that there are opportunities for faster and more transparent development and updates in projects such as the algorithmic stablecoin Djed. As projects are built on its blockchain network, the altcoin has shown crucial improvements over the past two months.

Cardano Price Could Soon Break Out With Huge Potential

Analysts are optimistic about Cardano’s recovery despite the recent fall in cryptocurrency prices. The Ethereum killer is one of the most prominent altcoins, and its blockchain network has seen a steady growth of projects and updates.

The Cardano network is currently testing its capabilities in collaboration with COTI and ADA for the algorithmic stablecoin Djed. The massive funds from Cardano’s treasury could be used to fund this and future projects on the network.

There is increasing bearish pressure on altcoins like Cardano after the recent bloodbath in the market, however, the ADA price has held above $0.53. While most cryptocurrencies are bouncing back from massive selloffs, Cardano founder Charles Hoskinson is optimistic about the project.

Hoskinson says that major corrections are common in the crypto market and mass hysteria is created, fueling a stock market crash. Hoskinson told his followers and the Cardano community in a YouTube video that seasoned investors shouldn’t be bothered by the market selling off.

Hoskinson believes that transactions on the Cardano network would increase 25 times by 2022. Proponents are optimistic about a recovery in the price of Cardano and predict a massive breakout of the altcoin this year.

@mdtrade, crypto analyst and trader thinks the current outlook on Cardano is not bullish; however, there could be an explosive recovery in the altcoin.