The crypto sector is a tumultuous ocean, sometimes capricious, sometimes far-sighted. According to renowned analyst Dan Gambardello, Cardano ($ADA) could soon make significant waves.
Towards a new zenith
Buoyed by the growth of its DeFi ecosystem, the value of Cardano seems to be preparing for a meteoric rise, announces Gambardello.
Observing the course of Ethereum ($ETH), Gambardello observes a remarkable progression. Initially, Ethereum’s DeFi ecosystem had $400 million locked up. Then, that value exploded, leading to a market capitalization of over $100 billion.
It is by considering this rise that he perceives an equivalent potential in Cardano. With nearly $180 million already locked in, the launch pad for ADA seems ready for an imminent takeoff.
Despite a recent drop in the digital asset rankings by market capitalization, overtaken by the frivolous Dogecoin($DOGE), Cardano doesn’t seem to be falling behind.
Contrary to what some might think, Cardano is showing signs of exceptional strength. On the one hand, the significant increase in the number of decentralized applications on its network, now exceeding 20, testifies to this dynamic. Additionally, with many more in development, Cardano’s future appears to be filled with unprecedented vitality.
Cardano and the growing importance of ESG criteria
The crypto landscape is no longer about pure performance. Environmental, social and governance (ESG) criteria are growing in importance among institutional investors and funds. Cardano stands out in this area, mentioned among the best cryptos in terms of ESG score in CCData’s ESG Benchmark report.
This report projects exponential growth in ESG-related assets under management, reaching $33.9 trillion by 2026. In this context, the importance of Cardano’s commitment to these criteria cannot be underestimated.
Despite recent challenges in the crypto market, Cardano has been able to hold its own in the crypto landscape. With the waves of the crypto market, the platform is preparing to hoist the sails for a remarkable ascent.
This is Dan Gambardello’s interpretation of Cardano’s current situation. Of course, only the evolution of the market can confirm or invalidate this prediction. But one thing is certain: all eyes are on Cardano, alert to the trajectory this rising star in the crypto sector will take. The project does not hesitate to reveal its network deployment strategy.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service ofdaily and weekly so you don’t miss any of the essential Tremplin.io!