Bitcoin and Ethereum are the 2 biggest and well-known cryptocurrencies. After a spectacular rise this year, a new competitor now sits in third place.
Cardano (and its native token ADA) witnessed a noteworthy performance. Its Year-to-date returns recorded a surge of 1,027%. Even though it entered a period of major consolidation, it soon commenced a recovery path at press time. It was currently trading at the $2.15 mark with a 1.2% hike in 24 hours.
A bullish narrative commences?
Well, the CEO of one of the world’s leading independent financial advisory companies is certainly bullish on ADA. Nigel Green, of the deVere Group while speaking with Business Insider expressed an optimistic outlook for this trending alt.
Green said it won’t take long before Cardano is setting fresh highs thanks to the broader crypto rally. Mainly due to its recent technological upgrade, coupled with its reputation as a “green” currency. Ergo, “…it could soon attain new highs and eventually reach $4 by the end of the year,” he added.
Surely, the token traveled a long way, from where it started its journey. “Cardano is on a clear upward trajectory and there’s no reason to think that this will come to a halt any time soon,” he told the interviewer. Further, he said,
“People say it has come ‘from nowhere’ and it’s ‘an overnight success’ but this is not true. It was created by Ethereum co-founder Charles Hoskinson and launched in 2017, and experts have been seriously watching it with growing interest for more than 18 months.”
Nigel Green’s prediction last month, that Cardano would hit $3 proved to be accurate. Green ADA would surge in early September. That’s exactly what it did. The altcoin peaked at $3.10 on September 2. The price did however collapse a bit at the time...
This article was first published on www.ambcrypto.com.
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Written by Shubham Pandey.