Cardano Price Prediction – Can ADA 10x by 2023?

Cardano looks set to make a bullish run in the coming months with several high-profile crypto commentators picking ADA as a coin to watch in recent days.

Founder Charles Hoskinson has also promised that there is huge appetite from institutional investors with the blockchain set to welcome hundreds of new projects to its ecosystem following the successful Vasil hard fork upgrade.

But could Cardano, which has long been considered an undervalued cryptocurrency without ever really breaking out, finally deliver huge returns on its big promise?

Cardano loved by cryptoanalysts

Two videos surfaced this week from highly influential cryptoanalysts who both spoke at length about the strength of Cardano and native token ADA.

Dan Gambardello, who goes by Crypto Capital Venture and has more than 325,000 YouTube subscribers, claimed in a video that ADA could reach a market cap of $500 billion in the next bullrun.

While it’s not clear when the next bullrun will start, a market cap of that size would give ADA a trading price of $15 – a nearly 3,500% increase from today’s trading price of $0.42.

Gambardello’s analysis is based not only on the success of the Vasil hard fork, but two more important updates planned in the near future – Basho and Voltaire.

It is not yet clear when the two updates will take place, but Basho promises to improve transaction speed and Voltaire to introduce voting for network participants.

The upgrade will allow Cardano to process millions of transactions every second – for context, Ethereum can manage 10,000 TPS after the merger – while Voltaire will make Cardano self-sustaining.

CoinBureau host Guy, who has more than 2.1 million subscribers on YouTube, echoed Gambardello’s bullish sentiment on ADA — though he stopped short of predicting a $15 price.

During a discussion with Benjamin Cowen, the pseudonymous spoke up ADA and called it – and Algorand (ALGO) coins to watch for in the next bull run.

“Long-term trend-wise, I think investors — especially institutional investors, which is obviously where Cardano is lacking in that respect — but I think any investor will look at the likes of Ethereum and Cardano down the road, when interest in crypto returns, and say, “Well, these guys were able to do these major upgrades and they went flawlessly.”

And I think that’s a testament to the caliber of people working on these projects, and I think that will be a big part of people’s due diligence in the future. So even though the price hasn’t done anything, I think it’s very, very positive, especially for Cardano.”

Cardano founder promises institutional investment

Outspoken Cardano founder Charles Hoskinson has also doubled down on his claims that the blockchain will be a favorite for institutional investors when the bull market returns.

ADA has had a poor 12 months and is down more than 85% from its September 2021 record of $3.09.

However, Hoskinson remains bullish on what he and his team have built over the past year, despite many cryptos struggling during a bear market.

We built Cardano to be the world’s financial operating system. We built it to beat the unbanked. We built it as a community to give economic identity to those who don’t have it, so we can have a global fair marketplace.

Cardano is still one of the most important blockchains outside the Western world, especially in Africa where many projects use the blockchain for their projects.

Hoskinson also claims that many hundreds of projects are ready and waiting to build on Cardano.

He expects institutional and venture capital funds to enter Cardano in 2024 and 2025.

You don’t catch anything during the bull market, but during the bear market, everyone collapses. All the bridges will be hacked. All these DeFi (decentralized finance) Ponzi schemes falling apart that we keep saying are problems.

So that’s the community we built and the ecosystem we built. Now we are enjoying the benefits of that approach.

Cardano price prediction

While it is difficult to accurately predict the fortunes of any crypto company, Cardano has the underlying fundamentals to become one of the premier blockchains in the space.

Cardano has long promised investors to become one of the very best altcoins on the market and has never quite gotten there – despite a strong performance in 2021.

However, the project has continued to build and find investors during the bear market, and when the bull market returns, it is a project that appears poised for break-out gains.

A 10x gain, to around $4.20, is not too hard to imagine should the market make a big recovery.

Diversification in any portfolio is also key, and another green-focused project, like Cardano, is IMPT, which wants to make the carbon credit tradable for everyone to help ease the climate crisis.

The project has just launched its pre-sale and has raised more than $1.5 million in the first four days.