Investment giant VanEck recently made a bold prediction regarding Ethereum’s future. The firm raised its prediction for Ethereum to $22,000 by 2030, a significant increase from its current price. This prediction hinges on factors like the approval of spot-based Ethereum ETFs, positive on-chain data, and the network’s ongoing scaling advancements.
This significant growth projection for Ethereum naturally leads to questions about the impact on other cryptocurrencies, particularly those with close ties. Cardano (ADA), created by Ethereum co-founder, Charles Hoskinson, is one such asset being closely watched.
Read Also: Cardano (ADA) Price Prediction: Analyst Sets Timeline for $10
Ethereum’s Surge as a Potential Launchpad for Cardano
Cardano and Ethereum are decentralized platforms that allow developers to build and deploy smart contracts. Cardano positions itself as a next-generation blockchain, aiming to address scalability and sustainability challenges faced by Ethereum.
The cryptocurrency market often exhibits a degree of correlation, particularly between prominent assets like Bitcoin and Ethereum. ADA’s price has historically demonstrated some correlation with these cryptocurrencies. Given this, Cardano could mirror Ethereum’s surge to a significant extent.
Cardano’s Potential Trajectory
Reaching $22,000 by 2030 would require a 544.6% increase from Ethereum’s current price of $3,412.98. ADA is trading at $0.4059, and if it mirrors Ethereum’s surge, it could reach $2.21. Although this is a significant increase, it falls short of ADA’s all-time high of $3.1, and this target might not satisfy some investors.
6 years is also a long time for investors to wait for this target. However, a prominent analyst recently predicted that ADA will reach $2 much sooner, expecting the digital asset to reach that target by August 2024.
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Other Opinions on ADA’s Future
Interestingly, the artificial intelligence language model ChatGPT offers a different estimate. ChatGPT believes ADA will reach $5 if Ethereum reaches $22,000 by 2030. This is a significant jump, but ChatGPT did not provide a rationale for this prediction.
Read Also: ChatGPT Predicts Cardano (ADA) Price for June 30, 2024
Crypto exchange Changelly offers a more bullish outlook, placing ADA’s price range between $6.06 and $7.04 for 2030. Their average price prediction sits at $6.22. Telegaon, a well-regarded crypto prediction platform, presents an even more optimistic outlook. Their projections range from a minimum of $7.78 to a maximum of $9.08 for ADA by 2030, with an average target of $8.16.
Cardano is about to hit a major milestone, and the upcoming upgrade could provide the launchpad for the digital asset to start climbing toward these lofty targets.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Times Tabloid is not responsible for any financial losses.
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