Monday, March 4, 2024
HomeCryptocurrency"My Top Bet Is On Cardano (ADA)" for the 2024 Bull Run,...

“My Top Bet Is On Cardano (ADA)” for the 2024 Bull Run, Analyst Declares. Here’s why

Crypto trader Gert van Lagen (@GertvanLagen) has generated buzz by suggesting that Cardano (ADA) could be the best bet in the current bull market.

His analysis of Cardano’s strengths compared to Ethereum (ETH) and Solana (SOL), particularly in terms of decentralization, network stability, and scalability, presents a compelling case for the cryptocurrency’s potential.

Read Also: Michaël van de Poppe: Cardano (ADA) Is Gathering Momentum For 800% Price Surge

Decentralization as a Cornerstone

Van Lagen positions Cardano as a champion of decentralization, a core tenet of blockchain technology. He argues that compared to Ethereum and Solana, which have received centralized support from entities like Gemini, Cardano stands alone in its commitment to a truly decentralized network.

According to Van Lagen, this signifies Cardano’s adherence to the original vision of blockchain technology, potentially fostering greater trust and user autonomy.

Stability and Reliability

Network stability is crucial for widespread adoption. Van Lagen highlights Solana’s history of “sporadic inexplicable network outages,” contrasting it with Cardano’s robust infrastructure. Solana’s most recent outage drew some criticism from Charles Hoskinson, the Cardano creator.

He also emphasizes that Cardano’s stability is “mathematically embedded” in its design, drawing upon peer-reviewed research and rigorous scientific principles. This design, he suggests, translates to enhanced user trust and confidence in the network’s ability to function seamlessly.

EUTXO: A Scalability Game-Changer

Van Lagen believes Cardano’s Extended Unspent Transaction Output (EUTXO) model holds immense potential for scalability and efficiency. He advocates for focusing on Transactions Per Transaction (TPT) rather than the more commonly cited Transactions Per Second (TPS).

This proposed shift in perspective acknowledges the EUTXO model’s ability to process multiple operations within a single transaction, significantly reducing the need for sequential processing and boosting overall throughput.

Technical Analysis Bolsters Bullish Sentiment

Toward the end of last month, Van Lagen also shared technical indicators that support his bullish outlook on Cardano (ADA). He identified key patterns, such as the recent break of a downtrend and the formation of a bullish double-bottom pattern.

These suggest a potential for significant upward movement. Although he did not outline a specific price target based on technical analysis, this analysis reinforces the bullish sentiment and encourages investors to hold on and wait for ADA’s rise.

Read Also: Michaël van de Poppe Says Ethereum Is Set for Massive Run. Here Are His Targets for ETH and BTC


Looking Ahead

Cardano’s focus on decentralization, network stability, and innovative scalability solutions like EUTXO has garnered attention from industry experts and shows its potential to take over the market. Adding credence to Van Lagen’s bullish expectations, another top analyst recently predicted Cardano’s rise to $8.

While only time will tell if ADA will fulfill its potential as a bull market leader, its unique technical foundation and commitment to core blockchain principles position it as a strong contender in the 2024 bull run.

Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba
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.

Latest News & Articles