Hydra may push Cardano (ADA) to $3?
After a 50% plunge since 2 September, Cardano’s native token eyeing toward $3 with new development work on layer2 scaling solution.
After the end of October’ uptober momentum of the crypto industry, most of the flagship assets failed to catch a similar momentum of stability & surge in the price. However not all the coins faced a similar kind of plunge like AVAX, LUNA and MATIC managed to achieve their all-time high again.
In the list of flagship assets, there is Cardano after Bitcoin and Ethereum but Cardano (ADA) failed to achieve that level of momentum and also failed to stop the plunge at the particular value in comparison to other flagship assets. Right now, ADA is down by around 50% after the all-time high of 2 September. And the price of Cardano is oscillating between $1.22 to $1.31.
At present, layer-2 scaling solution project Hydra is in the development phase, and this week Cardano project developer team IOHK second pre-released, end-to-end Cardano node integration.
Alongside the development news of Hydra, the price of the Ada coin surged with an average of 5%. However, this price of ADA is not surging rapidly but still many factors are indicating that traders are now bullish on Cardano trading because of Hydra news.
In November, Cardano grabbed 4 fold surge in the use of active addresses with a total of 216K. And also monthly transactions surged by around 78%+. The increase in the number of active addresses over last month hints that Cardano is going to explode its price.
According to experts analysis, Cardano may touch $3 with more than 150% growth because of Hydra release. However there will be the situation of the market also and that may ruin the progress of the Cardano project but besides all these things, people are requested not to consider this information as financial advice because all this information is based on the available sources and data regarding the Cardano project.
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