Another Big Cardano Africa Deal Is Building Up, Will Fully Leverage Alonzo Smart Contracts
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Cardano (ADA), the 5th largest cryptocurrency by market capitalization, has been accruing attention since the beginning of the year, following the swift rise to prominence in terms of price.

This magnificent rise cannot be termed a pump and dump considering the ongoing developments in the Cardano ecosystem. Despite the criticism around the crypto project, it continues to win the trust of many crypto big guns that matter, such as David Gokhshtein, the CEO of PAC Global, among others.

Read Also: Crypto Michael Predicts Notable Surge in Price of Cardano (ADA) Ahead of Smart Contract Implementation

Another top trader and crypto strategist has recently sounded positive regarding the prospect of Cardano and its native token ADA.

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Cardano (ADA) Is Not Overvalued

In a new thread of tweets, Justin Bennett, a well-known crypto trader, stated that Cardano (ADA) is currently not overvalued and the bull market of the digital asset is far from over.

In the tweet, Bennett is of the opinion that Cardano (ADA) has the potential to trade above $10 within the next few months.

The trader pointed out that ADA traded sideways for over a month in order to accumulate for a further uptrend, which confirms the fact that the cryptocurrency is not overvalued.

Justin Bennett tweeted, “Starting to build a sizeable ADA position. I’ve held some for a while but adding to it here. Anything between $1.10 and $1.30 is fair game. I think $10+ is achievable in the next five months.

Read Also: Charles Hoskinson Reiterates His Stance on Price and Value of Cardano (ADA)

“A lot of people are trying to tell me ADA is overvalued. We’re in a crypto bull market. That means 99% of cryptos are or will be massively overvalued by conventional valuation models. ADA moving sideways for 6 weeks tells me the market doesn’t believe it’s overvalued at all.”

Read Also: UK-Based Challenger Bank Revolut Lists Cardano (ADA) and 10 Other Crypto

In another tweet, the crypto trader reiterated his prediction that Cardano (ADA) would surge 10x from its current prices by the end of 2021.

“ADA will likely do a 10x from current prices by the end of the year.”

Read Also: Here Is Why Charles Hoskinson Says the New Version of Cardano Node Is Pretty Significant

Meanwhile, the price Cardano (ADA) has been on the increase over the last couple of hours after days of a sideways trend. At the time of filing this report, ADA is trading at $1.50, with about a 12% price upsurge in the last 24 hours.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.