Can ADA Jump to Become the New $5 Darling?
Cardano, the blockchain platform created by the IOHK team, is genuinely impressive: secure, scalable, and environmentally friendly. As we look towards December 2024, everyone is pondering whether ADA can surge to $5 in one go. Today, let's delve into this matter.
Price: only $0.26, quite affordable. Circulating tokens: approximately 35.6 billion, not a small number. Market cap: $9.3 billion, although not high, the potential is significant.
For ADA to reach $5, the market cap would need to leap from the current $9.3 billion to $178 billion—what a massive jump that would be! However, it's not impossible, but it requires everyone to recognize ADA, to rush to acquire it, and the entire market environment must also be favorable.
There are a total of 45 billion ADA, with 35.6 billion currently in circulation. If more are released in the future, the price will depend on whether demand can keep up. If supply exceeds demand, the price will drop. Therefore, the issuance of tokens must be gradual and depend on investor sentiment.
Smart Contracts are Hot: After the Alonzo upgrade, Cardano can now handle smart contracts, allowing new innovations like dApps, DeFi, and NFTs to thrive on its platform. This will increase the number of people using ADA, as it will be needed for staking, paying fees, and participating in governance.
Environmentally Friendly and Academic: Cardano emphasizes scientific rigor, with everything reviewed by experts, making it unique in the blockchain space.
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