Cardano (ADA): Should we expect a 340% rally before 2023?

The Vasil hard fork of Cardano (ADA) will bring various improvements to the blockchain such as an increase in its throughput. The Cardano blockchain will also become more scalable, with new features for smart contracts. All this has led to new developments with crypto companies. According to an analyst, these news could in turn cause a 340% jump in the price of Cardano (ADA).

The events that will favor the rise of Cardano (ADA)

According a tweet from Cardano Feed on September 4, “analyst predicts over 340% jump for Cardano (ADA) by the end of the year“. Indeed, for FXStreet analyst Ekta Maurya, some recent developments may lead the altcoin to a huge rally. This will be a leap of more than 340% to observe by the end of the year. The ADA token could then reach the value of 2 dollarswhile currently it is trading around $0.49.

One of the events that could help the eighth largest cryptocurrency in the market achieve this result concerns Robinhood. The latter is a US-based trading platform that recently announced the Cardano listing (ADA). Another event is that Binance US now supports the ADA staking. The largest cryptocurrency exchange even offers an opportunity to earn 6.10% in annual percentage yield (APY).

Ekta Maurya said: “With the announcement of Robinhood and Binance in the US, bullish sentiment among ADA holders has increased. The Vasil hard fork has received support from major cryptocurrency exchanges, dApps and smart contracts. The crypto community awaits the Ethereum hard fork and Cardano’s Vasil hard fork with anticipation and preparation.»

According to analysts at FXStreet, the altcoin Cardano can reach a wider audience thanks to its Vasil hard fork. The price of ADA could then climb to $2 before 2023. It can be expected to reach $1.77 by the end of September and $2 by the end of the year.

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