Lark Davis: Cardano (ADA) Can Surge 25x to Equal Apple Market Cap, But 100x Is Unlikely This Decade

Lark Davis, a popular crypto analyst and trader, has discussed the likely trend of Cardano (ADA), the 3rd largest cryptocurrency by market capitalization.

According to Davis in a series of tweets a few hours ago, Cardano (ADA) can possibly surge 25x from its current prices to equal Apple’s current market capitalization of $2.4 trillion, but a 100x surge is unlikely in this decade.

In the thread of tweets started with “Can #cardano $ada pull a 100X price move from here… realistically?” Lark Davis pointed out that Cardano (ADA) is likely to experience a price pull back when smart contracts launch.

He said it may be difficult for people to believe this because smart contracts are too bullish. He thereby advised those who don’t hold ADA currently to wait until after the pullback. However, he said the turbulence will be a short-term event before a meteoric rise in the price of Cardano (ADA).

Lark Davis tweeted, “Note that there is a chance we see a pull back when smart contracts launch. “buy the rumor sell the news” effect. Some don’t think this will happen because SCs are too bullish. Below staking launch chart. Those on 0 ADA could wait to buy, bag holders be ready for turbulence.”

The Realistic Price Target for Cardano (ADA)

Regarding the realistic price target for Cardano (ADA) by the end of the decade, Lark Davis said the market cap of Apple is a generous price target for ADA.

However, he stressed that a 100x surge by the end of the decade is simply impossible for Cardano (ADA). He said this is not limited to only ADA, stating that it is also impossible for both Bitcoin (BTC) and Ethereum (ETH).

“So what is a realistic price target for Cardano long term, say end of the decade? Well a 4X pump would put ADA at the same market cap as Ethereum now = $10 per ADA 10X pump would give ADA same market cap as BTC now = $28 per ada.

“But let’s think beyond simple crypto comparisons. Apple has a market cap of 2.4 trillion. For ADA to reach this level it would need to see the price do a 25X = $50 per ADA.

“For reference I see ETH reaching these cap heights (6X higher cap and beyond), although with EIP 1559 in place unit price could go much higher than my original estimates or 15 to 20k a coin. Currently ADA has no burn mechanism.

“But what about 100X? Realistic? No, not in the 2020s at least. That would be a 9.2 trillion market cap which is 4x larger than all crypto combined right now.

“For reference I also don’t see Bitcoin or Ethereum doing 100X from here, so I am not singling ADA out. I am just being realistic. IMO targetting the market cap of Apple is a pretty generous target for the end of the decade.

“What would Cardano need to pull a 25X? Market share: Due to lack of smart contracts Cardano lacks market share on all the key metrics. Total value locked in defi 0, daily NFT sale volume tiny, daily transactions 82k, 2 million addresses total.”

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.