Cardano (ADA) hasn’t experienced the large price increases seen in other major cryptocurrencies, instead remaining in a consolidation period for a while. This prolonged period of consolidation and the narrow trading range it has maintained could be a hint that a significant breakout is imminent. In particular, Tim Warren, a crypto expert, posted a strikingly positive Cardano graphic on social media network X (formerly known as Twitter). Warren emphasises Cardano’s outstanding past price performance in the graphic. He predicts that Cardano’s value might increase by an amazing 16,500%.
When compared to its previous all-time high in 2018, the price of ADA dropped dramatically in the past, falling as low as $0.018 in 2020. It later staged a remarkable rebound, rising by an astounding 16,500% to a new record high of $3.10 in 2021.
Now, if we take into account this past performance, Cardano’s price is currently 92% below its all-time high, which is comparable to its 2020 values. If ADA followed the same pattern, its value may reach $40 at its peak, representing a possible rise from the current price of 16,500%.
Cardano Could See A 16,500% Surge
Chris O, another user on the X platform, responds to Warren’s message by talking about the benefits of ADA. Chris, the creator of the Cardano-based protocol Ghost Fund DAO, points out the astounding 16,500% growth that ADA previously saw despite not having support for smart contracts or decentralised finance (DeFi). Chris thinks that the network’s integration of these features might significantly boost the value of ADA.
Chris highlights how the Cardano network has embraced DeFi, a rising Total Value Locked (TVL), non-fungible tokens (NFTs), and sidechains. He also refers to the different protocols that have been introduced on the platform in a variety of industries.
Is Cardano (ADA) A Buy?
Chris highlighted that even without full industry support in Cardano, ADA had previously achieved a spectacular 165-fold growth from its bear market bottom. He advises ignoring the distractions and says that striving for a 25 to 40-fold rise is a reasonable objective. Chris interprets Warren’s chart as a plain illustration of potential future prospects. The digital asset’s potential development would only begin at a 40-fold increase, however, if ADA were to repeat its surge from 2020 to 2021.