- An analyst expressed bullish sentiment about ADA, projecting it to be on a path of $10.
- He reminisced about the last bull run when Cardano suffered delayed smart contracts with no contracts ready to go live.
- The analyst stressed a remarkable turnaround with massive projects running on Cardano.
In a recent tweet, a notable crypto analyst with the X username “Psyclops” expressed his enthusiasm about the Charles Hoskinson-led crypto project, Cardano (ADA), projecting ADA is now on a path of $10. The foundation of Psyclops’s extraordinary bullish sentiment about ADA rests on the current state of the Cardano ecosystem.
Psyclops first reminisced about the last bull run. He highlighted the challenges Cardano faced with delayed smart contracts where no contracts were ready to go live. He noted the delay resulted in a lack of functional Cardano-based decentralized exchanges (DEXs).
However, despite these setbacks, Psyclops reflected that ADA ultimately made it to an all-time of $3.10 at the peak of the 2021 bull season.
Meanwhile, Psyclops stressed there has been a remarkable turnaround within the Cardano ecosystem. Specifically, the analyst pointed out that a trove of decentralized finance (DeFi), RealFi, and utility NFT ecosystem projects are already up and running on Cardano.
While a full-blown crypto bull run is not yet upon the market, he argued that celebrating ADA’s recent upsurge into the $0.6 region is ‘absurd.’ This statement suggested that Cardano has the potential for more shocking astronomic value than the below $1 enthusiasts are cheering about.
With a touch of sarcasm, Psyclops dismissed the current excitement, stating, “Wake me up when we’re at $10.” His tweet notably included ADA’s market chart, capturing its price since its inception. Inscribed in the chart was an arrow depicting the astronomic trajectory ADA is expected to engineer in the coming weeks as the bull market gradually unfolds.
Per data from CoinMarketCap, ADA has grown more than 65% from its November 12 price of $0.3787 to $0.6323. Notably, a growth from its current position to $10 would amount to a percentage growth of 1,478%.
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