- Cardano (ADA) just set a new ATH at $2.84.
- Analysts believe that another new ATH will soon replace it.
- Many reasons are factoring into this possibility
Cardano (ADA) just set a new all-time high (ATH) of $2.84 only a few hours ago. Analysts believe that this new ATH will only hold its place for a short period of time. This is because it is very likely that the ADA price will continue to soar.
In fact, analysts believe that the price of Cardano (ADA) could not just surpass $3 but could even hit the $5 mark. Over the last month, the price of ADA has gone up by 132.1%. The reasons behind this price hike could be a variety of reasons.
In particular, the first reason is the continued success of the Alonzo testnet phases being launched. The first big one was Alonzo Blue, after this went Alonzo White, then Alonzo Purple. All three launches went smoothly and users can now run smart contracts on the Cardano network.
Next on the list are the Alonzo Red and Alonzo Black launches. Once these are complete, we will finally see the launch for the Alonzo mainnet. On this matter, Cardano confirmed that the Alonzo mainnet hard fork will take place on September 12, 2021. The brand said this along with detailed information about its development via the August development update.
Another big headliner is the upcoming Cardano Summit 2021. This event is already gaining a lot of attention and will take place between September 25-26, 2021. The summit will host a mix of live and virtual events from around the world.
Another big factor is the fact that Cardano has a dedicated community that is constantly bringing in all new projects onto the blockchain. This was even before the network could run smart contracts. Imagine the potential after the Alonzo mainnet launches.
Not to mention that the firm’s founder — Charles Hoskinson, is a visionary leader who is always available to his audience. Cardano users have faith in the project because of Hoskinson and his vision. He constantly shares updates and information to ensure that users will never feel left in the dark.In conclusion, the price of ADA soared greatly from successful testnet launches. Imagine the surge after the mainnet launch. Also, there are plenty of other projects that Cardano will work on after the mainnet is out, such as, Genesis, Hydra, and more. Hence, it is a pretty safe bet to say that the price of ADA will continue to soar.
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