At the time of writing this, the price of Cardano (CCC:ADA-USD) sits at $1.42
We compiled the opinions of three major Cardano bulls on the present state and future of Cardano its ecosystem and its native ADA.
Scott Wallace: of the “Wallace INC” Youtube channel, who is one of the largest Cardano Only channels on Youtube. He is a Cardano futurist and investor himself.
In a recent video, Wallace noted tech giant Apple’s (NYSE:AAPL) major corrections as a publicly traded stock. At one time, it lost over 40% of its market cap at one time. This occured prior to the arrival of the Apple Store. Wallace then compared Cardano’s current pre-smart contract phase to Apple pre- launch of its Apple store. Scott posed the following question to his audience:
“Are you going to stop using iPhones ? Are you going to stop buying things from the app store? Will you stop using iOS if Apple has a bad day? The future is right before us. All the signs are right before us. A week in a bear market is like two months in a bull market—its torturesome. So, you’ve got to zoom out and look at other projects that were successful and had great promise and great returns. Nobody is throwing out their iPhone’s today regardless of the current price slide.”
In a recent tweet, Wallace summed up his opinion on the trajectory of crypto and ADA through volatility. “Cryptocurrency is like Pandora’s Box. Even if it was to go through the most bearish winter is history, it will return, it will prevail, and it will break all time highs $ADA.”
Ben Knaus: A Cardano evangelist and investor is often very outspoken on Crypto Twitter regarding his long term bullishness for ADA.
He said in a recent tweet thread, “If Cardano even partially executes the framework of the whitepaper and the roadmap, we’re at the cusp of a generational ecosystem. If you look at the groundwork IOG and the Cardano Foundation has laid for the longevity of the ecosystem, there’s not another alt project that comes close. We’re going to see Cardano solve foreign identity issues like the Ethiopian deal, which already is onboarding five million users. Improve financial inclusion and create a system to cut out all the remittance middlemen who prey on the poor, sending money cross borders to family who rely on it. Fees will be reduced drastically—in most cases 98% cheaper vs. Western Union, Moneygram, or even a bank wire. Decentralized finance DAPPs on the Cardano blockchain, among others, aim to rid the world of exorbitant banking fees that currently globally account for a mind-bending 10% of GDP. Thus, because of the above, I’m not concerned with price movement. We’re early, and at some point solid projects with real use cases will decouple from Bitcoin.”
Lark Davis: The Founder of Wealth Mastery, who also boasts a cumbersome 400,000 subscribers on his Youtube channel. In a recent video, Lark commented on the looming “Cardano Summer.”
“The interesting thing here is all the price action for Cardano has happened and we don’t even have smart contracts here yet. Basically, we’re on schedule to see smart contracts coming to Cardano in August. You can see the anticipation in the price movement. Over 1,000 developers are on the pioneer program learning how to develop decentralized applications on the Cardano chain. What we need are those smart contracts that will kickstart the DeFi ecosystem for lending and borrowing, and it’s coming very soon. Cardano has seen its largest weekly inflows from institutional managers. It’s a big deal. It means that a lot of hedge funds are looking beyond Bitcoin and Ethereum. It shows that institutional players are waking up and paying attention to Cardano.
Cardano also just passed one million wallets, with over 70% of ADA currently staked. We’re going to see the early movers on the Cardano chain going insane with the potential to be massive. Like Occam Finance, and De-fire, we will see some big moves happening for the token economy building out on the Cardano Chain.”
In a previous video, Lark made a prediction regarding where Cardano could head in terms of price. “$9 Cardano is possible, but I think something more like a $5 is more realistic for this bull market.”
Now, all eyes are shifting to the Alonzo rollout later this summer which will bring the smart contract platform for developers, as well as hints from other possible governmental deals in Africa. It seems that Cardano bulls agree that the future is bright for Cardano and its token economy.
All content is opinion and not to be considered financial advice.