Renowned crypto analyst Dan Gambardello has predicted Cardano ADA’s price will touch $15. This is after the Cardano network hit the historic 4 million milestone. Gambardello explained in a recent YouTube video why this crucial wallet number prompted him to set the ultra-bullish price target for ADA.
Cardano Wallets Rip Past 4 Million
Founder of Crypto Capital Ventures, Dan Gambardello, has highlighted solid data that is strengthening his bullish stance. Specifically, he noted why he believes realistically that a $15 ADA price is plausible.
Gambardello correctly predicted in June 2020 the ADA all-time high of $3 back when the token was valued at around $0.09. At the time, Gambardello’s prediction hinged on Ethereum events. He is once again relying on Ethereum data to predict the future price of ADA.
In a March 25 video, the YouTuber observed that Ethereum reached 4 million wallets in 2017 at a market capitalization of $21 billion, while Cardano hit the 4 million wallet milestone with a $12 billion market cap. Ether went on to smash $125 billion market cap during the bull market, and Cardano reached $91 billion.
Gambardello expects ADA to hit $15 in the next bull market, with its market cap rising to a staggering $500 billion. He is of the opinion that developments within the Cardano ecosystem are in line with Ethereum, though he deems the former a better blockchain.
“I’m not even discussing the fundamentals here. I’m not even discussing what Cardano as a blockchain is doing. When I did this video last time, Shelly wasn’t even here, the staking mechanism for Cardano wasn’t even here yet, the Mary hard fork was not even here yet, multi-asset Ledger, Alonzo, and smart contracts,” Gambardello postulated.
He further indicated that Cardano is more scalable and has great projects after undergoing the Vasil hard fork, which has been said to make smart contract deployment more efficient and allow decentralized applications (dApps) to run at much lower costs. Gambardello believes more groundbreaking Cardano innovations are on the horizon.
Cardano is now awaiting to transition to the fifth and final stage in development, the Voltaire era. Per Cardano creator Charles Hoskinson, Voltaire will teach the rest of the cryptosphere a lesson on how to execute decentralized governance.
ADA is currently trading hands at $0.3630, which is roughly 88% off the cryptocurrency’s historic high of $3.09 seen in September 2021. The seventh-placed Cardano has a long way to go in order to achieve Gambardello’s target.