The trench warfare whose antagonists are on one side, the SEC and on the other, Binance and Coinbase continues and promises to be rich in twists and turns. The American financial market regulator has also drawn up a list of assets that it considers to be securities and in which there is ADA, the native crypto of the Cardano blockchain. A situation not without consequences for the ADA, which has since multiplied the falls and whose future is now uncertain. Concerned by this vagueness that reigns over the future trends of this cryptocurrency, experts have explored the different possibilities.
Future of the ADA: financial experts speak out
The inclusion of ADA in the list of securities by the SEC is a source of controversy. A legal expert has also questioned this classification of the ADA and believes that it is an error of the SEC. But what future for Cardano’s native crypto now? Several experts analyzed the situation and came to various conclusions.
According to Sebastian Purcell, the future of ADA will depend on the outcome of the Ripple vs SEC lawsuit. “The next direct catalyst for ADA is the outcome of the Ripple case, if this outcome is overwhelmingly in Ripple’s favor, then ADA is likely to break above its short-term high (…)” said the CEO of hedge fund 1.2 Capital Management.
Senior analyst at financial services firm Finder Franck Corva says it is difficult to predict a trend for ADA in such a context and with regulatory uncertainties. He however states that market adoption, technological advancements, development progress of Cardano, overall market trends, competition within the cryptocurrency industry are factors that can influence the price of ADA. .
Expert Azzam Sheikh is interested in the Hydra update of the Cardano blockchain which “offers higher throughput, minimum latency and cost-effective solutions”. These improvements may support the rise in the price of ADA, according to the analyst. He says, “If things go as expected, the price could be between $0.472 and $071 with an average of $0.552.”
Current ADA performance
At the time of writing, the price of ADA is $0.2583. Cardano’s native cryptocurrency has seen a decline of 6.62% in the past 24 hours. A trend in the image of its performance over the last 7 days since the asset fell by 20.94% during this period. The current market cap of this digital currency is $9.05 billion.
Will ADA, considered a promising crypto a few weeks ago, be able to offer new spectacular performances to investors? No one can predict with certainty the future of this cryptocurrency.
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