Cardano Founder Predicts Strong Gains for $ADA in 2023

In the Brief:

  • Cardano founder shares prediction for 2023
  • Forecasts 15X upside potential and potential market cap of $550 billion
  • Cardano's success in 2022
  • Caution to potential investors
  • Underperforms in downtrends but outperforms in uptrends

2 - 4 minute read

Cardano ($ADA) founder Dan Gambardello, host of the popular YouTube channel “Crypto Capital Venture,” shared his prediction for the cryptocurrency in 2023 on Sunday. In a tweet to his over 238K followers, Gambardello stated that he sees “15X upside potential” for $ADA, with a potential market cap of $550 billion in the future.

Gambardello has long been a vocal supporter of Cardano, even calling it his favorite cryptocurrency project. In a YouTube video from October 2022, he discussed his “clear vision” for the smart contracts platform and the potential for its market cap to reach $550 billion, possibly in the next bull cycle or in several years.

Cardano has had a successful year in 2022, with impressive on-chain growth and numerous partnerships and collaborations. The Cardano Foundation, an independent non-profit responsible for the advancement of the cryptocurrency, reported 192% growth in native tokens, 47% growth in wallets, 394% growth in Plutus scripts, 139% growth in transactions, and 27% growth in delegated wallets. The foundation also highlighted Cardano’s participation in over 20 events around the world, including the Cardano Summit 2022, and the review of 50 Cardano Improvement Proposals.

Gambardello cautions potential investors to be careful and to make decisions based on their own risk appetite and long-term planning. “It’s not advice to anyone to go out and buy $ADA,” he said. “Please be careful out there.”

Despite the potential for strong gains, Gambardello also acknowledged that Cardano has historically underperformed in downtrends. “People don’t realize that this is one reason I like it so much,” he said. “Because while it does underperform in downtrends, it outperforms in uptrends. This means that we now have a way undervalued asset with most upside potential.”

Disclaimer: The content in this article is provided for informational purposes only and should not be considered as financial or trading advice. We are not financial advisors, and trading carries high risk. Always consult a professional financial advisor before making any investment decisions.

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