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Highlights
- Top analyst is bullish on Cardano following a rapid surge to $1.3
- With the growth outlook, critics are now forced to support the coin
- The Cardano Foundation and broader ecosystem are facing internal stress test that may impact growth
Cardano bull and top analyst Dan Gambardello recently spotlighted a major trend in ADA that has won the hearts of the project’s skeptics. With the ADA price jumping to a three-year high over the past month, Gambardello said the coin’s growth has woken up many people.
Cardano Price Helped Prove Peer Dominance
As Dan Gambardello noted, ADA price jumped from $0.32 to a high of $1.3 over the past month. Gambardello insinuated that this growth, which amounts to 306%, has made Cardano too big to ignore, even for major influencers.
The top analyst said major influencers could no longer continue negative coverage of the asset. This, he claims is because these critics now know how silly they will look with sustained negative coverage as ADA prices continue to soar.
The sudden Cardano move from .32 to $1.30 woke a lot of people up.
Major influencers quickly realized they can’t continue negative $ADA coverage.
They know they’d look silly through the bull market as $ADA keeps pumping.
Now they’re bullish because they’ve fallen in line.
— Dan Gambardello (@cryptorecruitr) December 14, 2024
The statement from Dan Gambardello hinges on the broad backlash Cardano has received over the past few years. As a media personality in crypto, he has used his platform to promote the coin. Gambardello largely supports major price growth for Cardano. Meanwhile, this is in line with previous ADA price analysis that tips a surge to $2.
As of writing, the coin has pared off some of its gains over the past day. It is now down by 6.05% to $1.05 as of writing. The coin has dropped to this lowest level after soaring as high as $1.13 in the past 24 hours.
Prospects and Hurdles
Despite the massive accolades for Cardano, the underlying protocol has a number of hurdles to cross in the near future. Recently, a Cardano Foundation whistleblower flagged gross incompetence at the organization, sparking community speculation.
With the foundation allegedly disaligned with Input Output Global (IOG) and other founding bodies, the prospect of its decentralized endeavors are now in doubt.
However, the protocol has continued to innovate in its technological push. With advanced Hydra test and scalability upgrades, analysts like Dan Gambardello are optimistic the future of ADA remains bright.
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