Davis foresees Cardano (ADA), currently ranked as the ninth-largest cryptocurrency by market capitalization, reaching $10 this bull cycle. This target is approximately an 817% increase from its current value.

BREAKING: Lark Davis says "#Cardano's getting the attention and the hype, we could see $10.00 $ADA." pic.twitter.com/oOpCx0DuI6

— Angry Crypto Show (@angrycryptoshow) November 29, 2024

Cardano’s Recent Surge and Ecosystem Growth

Cardano has recently emerged as one of the strongest-performing cryptocurrencies in the market, recording a monthly gain of over 210%. The asset’s market cap is closing in on that of USD Coin (USDC), currently the eighth-largest cryptocurrency.

This performance underscores the growing interest in Cardano, which Davis attributes to substantial hype around the ecosystem.

Davis emphasized that this attention creates a favorable macroeconomic environment for the asset, stating that Cardano could experience significant momentum in the ongoing bull market.

Lark Davis’ Price Targets for Cardano

Davis’ bullish outlook on Cardano suggests the asset will first aim for its previous all-time high of $3.16, achieved during the last cycle. From there, he anticipates further increases, projecting a rise to the 1.618 Fibonacci level of $4.80, representing a 332% gain from its all-time high.

Beyond this, Davis predicts ADA will target the 2.618 Fibonacci level at $7.70 before reaching his ultimate goal of $10 at the 3.618 Fibonacci level. He said it is achievable given the current market dynamics and Cardano’s growing adoption.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Market Dominance and Price Correlation

To substantiate his prediction, Davis referenced Cardano’s market dominance during the previous cycle, which peaked at around 4%. If Cardano achieves a similar level of dominance in the current market, its market cap would need to increase tenfold to approximately $370 billion. According to Davis, this rise in market valuation aligns with his Fibonacci-based price projection of $10.

Other analysts share similarly optimistic views about Cardano’s future. For example, Dan Gambardello has predicted ADA could rise to between $5 and $10 after stabilizing above the $1 mark.

On-Chain Indicators Support Continued Growth

On-chain data and trading activity indicate Cardano may be gearing up for further gains. Recent statistics from CoinMarketCap reveal that Cardano’s 24-hour trading volume has surpassed that of Binance Coin (BNB), suggesting a growing interest from market participants.

Additionally, analyst Jake Wujastyk has identified strong technical signals for Cardano’s next move. He highlighted the “volume shelf” indicator in his analysis, which suggests that ADA could see another significant upward trajectory.

Current Market Performance

As of now, Cardano is trading at $1.09, representing a 3.5% increase in the last 24 hours. This price movement reflects sustained momentum and investor confidence, aligning with analysts’ expectations of further gains in the ongoing bull cycle.

With substantial market activity, technical indicators, and optimistic predictions from industry experts, Cardano appears to be positioned for further growth. If Davis’ $10 target materializes, it would mark a historic achievement for the asset, cementing its status as one of the most promising cryptocurrencies in the market.

Disclaimer: This content is meant to inform 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. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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But the XRP community is not bothered by the latest comment from the popular Youtuber as they remain focused on the outcome of the Ripple-SEC case predicted to end in Q1 of 2023 by Ripple CEO Brad Garlinghouse.

Crypto Youtuber Expresses Support for Ripple

A couple of hours ago, the widely followed crypto influencer expressed support for the cross-border payment services provider Ripple in their prevailing court case with the United States Securities and Exchange Commission (SEC). But according to him, he is not a fan of the Ripple-related crypto asset – XRP.

Per the Friday tweet, the Bitcoin maximalist Lark Davis disclosed that he would not invest in XRP even if the San Francisco–based crypto solutions company defeated the Gary Gensler–led securities agency, which goes further to prove that XRP is not a security. 

“I hope that XRP wins their court case but I am still not going to buy it,” he tweeted. Notably, this statement comes even though he expects the XRP price to pump if the Ripple-SEC case ends in favor of the top crypto asset. “Never really been much of an XRP fan but will probably moon if they win the case,” he tweeted on November 1. 

I hope that #XRP wins their court case… but I am still not going to buy it.

— Lark Davis (@TheCryptoLark) January 27, 2023

Read Also: Expert Analyst Predicts Massive Upside for XRP and Bitcoin (BTC). Here’s His Chart

XRP Community Reacts

The unbothered members of the XRP community didn’t hesitate to jump on Lark Davis over the misrepresentation of identity in his assertion. Apparently, his statement was incorrect because XRP is just a digital asset incapable of the ability bestowed on it by Lark.  

Several XRP community members went further to tease the crypto YouTuber for not knowing the difference between Ripple and XRP. Alex Cobb wrote, “XRP is not in a court case, Ripple is. Also, nobody asked.” “You do know the difference between Ripple and XRP right? I hope so anyway,” another user named Perry said. 

As previously reported by TimesTabloid, John Deaton – the attorney representing over 75,000 XRP holders in the ongoing Ripple-SEC case – slammed Lark Davis for this same issue of misapplying the sixth–largest cryptocurrency by market capitalization XRP. 

Back then, Davis attempted to demean the value proposition of XRP, given that the financial services colossus JPMorgan, adopted AAVE and MATIC to execute a cross-border payment in a regulatory pilot test in Singapore.

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In a Thursday post, Lark Davis, a known crypto Youtuber and presumed Bitcoin (BTC) maximalist compared AAVE and MATIC with the XRP Ledger native token, in an attempt to condescend on the utility and value proposition of XRP.

Worthy of note is that XRP is majorly used by Ripple to settle cross-border payments and for its On-Demand Liquidity (ODL) services. 

According to him, the AAVE and MATIC tokens are being adopted by JP Morgan, the global leader in financial services to settle USD to JPY forex transactions. To note, Aave and Matic were used to conduct a cross-border transaction as part of a regulatory pilot test in Singapore. 

Relying on this fact, Lark Davis questioned the importance of the Ripple-backed XRP token in the remittance industry. He wrote, “So if JP Morgan is using MATIC and AAVE to settle USD to JPY forex transactions then what is the value proposition for XRP now?”

Sooo…. if JP Morgan is using $matic and $aave to settle USD to JPY forex transactions then what is the value proposition for #XRP now?

— Lark Davis (@TheCryptoLark) November 24, 2022

Read Also: Do Kwon Laughs Off Jail Term for Terra Collapse, John Deaton Lashes Out Saying He is Remorseless

John Deaton and XRP Community React

The XRP community wasted no time in attacking Lark Davis while defending the outstanding use case of XRP for cross-border payments. Among those who responded to Davis’ provocative statement included Attorney John Deaton, the popular Ripple, and XRP proponent. 

In pointing out how valuable XRP is, John Deaton stressed in a Twitter thread that XRP has remained among the top 10 cryptocurrencies in the world for 10 years, amidst the enduring SEC-inspired legal setback. 

According to the Deaton, XRP has been a Top 10 Crypto for a decade. When FinCEN settled with Ripple in 2015 XRP was #2. Between 2017-2018, it battled ETH consistently for #2. In October 2018 even after Hinman gave ETH a free pass XRP was briefly #2. XRP was #3 when the SEC sued Ripple in December 2020.

“The SEC’s lawsuit, however, is not limited to Ripple sales. The SEC has alleged that all XRP no matter who sells it, is always a security. This is what caused Coinbase, Kraken exchange, and others to suspend/delist XRP. Yet, despite all of this, XRP remains a Top 10 Crypto today,” he added. 

#XRP has been a Top 10 Crypto for a decade. When FinCEN settled w/@Ripple in 2015 #XRP was #2. Between 2017-2018 it battled #ETH consistently for #2. In October 2018 even after Hinman gave #ETH a free pass #XRP was briefly #2. XRP was #3 when the SEC sued Ripple in December 2020. https://t.co/h4i4bcJBTx

— John E Deaton (@JohnEDeaton1) November 25, 2022

Read Also: Ripple CTO, Cardano Creator, and John Deaton Discuss the Impact of Ethereum Free Pass on XRP Lawsuit

Going further, he lamented about Lark Davis’ poor knowledge and understanding of cryptocurrencies.  To this end, Attorney John Deaton wrote,  

“The point is, one would think that a major crypto influencer, like Lark Davis, would have a much better understanding of XRP. Does he really think because JPM is using Matic & Aave to settle USD to JPY that that somehow lessens the value proposition for XRP?”

“First, does he not know the difference between Ripple and XRP? His question would make more sense if he had asked, does JPM’s use of #matic & Aave negatively impact Ripple’s business model. Of course, Ripple is one of the few companies involved in Crypto growing and hiring.”

“Does he know the overall size of the Forex market? Does he know that Ripple is only one company utilizing the XRP Ledger. It is very surprising to me that XRP remains one of the most misunderstood cryptos out there –  even though it has been around and near the top for a decade.”

The point is, one would think that a major crypto influencer, like @TheCryptoLark, would have a much better understanding of #XRP. Does he really think because JPM is using #matic & #aave to settle USD to JPY that that somehow lessens the value proposition for #XRP?

— John E Deaton (@JohnEDeaton1) November 25, 2022

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While the Shiba Inu community and investors are hoping to see a rally in the price of the SHIB token, possibly to $1 in the future, a top Bitcoin(BTC) and crypto investor/analyst, Lark Davis, recently shared a meme with the inscription, “SHIB will never be $1.”

$shib pic.twitter.com/kKFKSx3J1T

— Lark Davis (@TheCryptoLark) September 13, 2022

Of course, this tweet has caused a lot of fuss and has probably mashed the hope some SHIB investors’ had on the project. However, this isn’t a sure verdict for the community-driven token project, but rather a personal impression. On the other hand, SHIB hitting $1 could take a lot of time depending on how much investment goes into the token project.

Read Also: Amazon’s Impact Boosts Shiba Inu (SHIB) Burn Rate By 888%

SHIB in the Market

Though Shiba Inu (SHIB) is the thirteenth largest virtual currency by market capitalization, its value is still very low, probably due to the volume of its tokens in circulation. It is worth noting that the circulating supply of Shiba Inu (SHIB) currently stands at 559.54 trillion. 

Data shows that the highest price that SHIB has ever attained was $0.00008845 and it was in October 2021. With a market cap of approximately $7.13 billion, SHIB is trading at $0.00001291 at press time. 

To reduce the circulating supply of SHIB and also enhance its price growth rate, the Shiba Inu community has been engaging in a daily burning of the SHIB token. At the time of writing, a total of 410.38 trillion has been burned from the initial token supply, according to the Shibburn tracker.

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Sharing the screenshots of his XRP balance, Leonidas tweeted, “Jed will be selling 4.215M XRP per day this week. His 22.161M XRP will run out on Saturday, the 16th of July 2022. It took Jed 8 years, 1 month, and 25 days since announcing his sales, to finally get rid of his 9B XRP. Best of luck to Jed.”

Jed will be selling 4.215M XRP per day this week. His 22.161M XRP will run out on Saturday, the 16th of July 2022.

It took Jed 8 years, 1 month, and 25 days since announcing his sales, to finally get rid of his 9B XRP.

Best of luck to Jed. pic.twitter.com/FyrnDHk8Ft

— Leonidas (@LeoHadjiloizou) July 10, 2022

Read Also: Ripple Co-Founder Jed McCaleb Has Sold About 500 Million XRP In 2022. Here’s His Wallet Balance

Jed McCaleb Abandons Stellar Lumens (XLM)

Jed McCaleb started working on Ripple back in 2011 and was one of the founders when it launched in 2013. But later abandoned the project in 2014 to work on Stellar Lumens (XLM).

When departing the company, McCaleb was awarded about 9 billion XRP tokens for cofounding OpenCoin, which was later rebranded as Ripple.

After receiving the whopping funds on a fixed schedule, he made it clear that he plans on selling all the funds. He will finally get rid of his 9 billion XRP on the 16th of July. This implies that the whopping selloff took him 8 years, 1 month, and 25 days, as aforementioned by Leonidas.

A new report that is making the rounds says that McCaleb has also abandoned the Stellar Lumens blockchain project. This was recently shared by Ben Armstrong, a popular crypto YouTuber and creator of BitBoyCrypto.com.

Read Also: Jed McCaleb’s XRP Balance now below 100 Million. May Run Out Of XRP in Less Than 30 Days

In response to Leonidas’s update, Ben Armstrong wrote, “My sources at @XlmStellar say he has left the company.”

1. Screw Jed
2. My sources at @XlmStellar say he has left the company
3. Jed did not sell any $XRP from September to December 2021 https://t.co/NfyN8ynEZN

— Ben Armstrong (@Bitboy_Crypto) July 10, 2022

Another prominent person in the crypto industry, Lark Davis, also reacted to the news about McCaleb abandoning the Stellar Lumens project.

He said McCaleb is the real winner from XRP, which is why he had to abandon Stellar Lumens. He pointed out that he does not need Stellar because he already has billions to spend.

Lark Davis tweeted, “Jed is the real winner from XRP. Made 9 billion profits. No wonder he has left Stellar. Like seriously dude, go spend your billions and chill. No one needs Stellar anyway.”

Reacting to Lark Davis’s assertion, Armstrong said he’s clearly the winner because he made money more than others and seamlessly avoided the Ripple-SEC lawsuit.

“Amen. No one made more on the $XRP token sale than Jed. He made more than Brad G and Chris L COMBINED. And yet conveniently he is left off the lawsuit… weird ammirite?”

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Hoskinson said this in response to a popular crypto analyst and trader, Lark Davis, who reported that Cardano (ADA) is the number two blockchain in terms of transaction volume in the last 24 hours.

Read Also: Cardano-Based Decentralized Exchange, SundaeSwap, Announces Date for Mainnet Launch

The data shared shows that Cardano has a similar or higher transaction volume compared to Ethereum (ETH), the second-largest cryptocurrency by market cap.

Another point that is worth noting is that it took Cardano blockchain relatively $66,000 to process all of the transactions, while Ethereum spent over $44 million dollars in transaction fees.

Captioning the screenshot of the data, Lark Davis tweeted, “Cardano $ada is the number two blockchain in transaction volume in the last 24 hours.”

#cardano $ada is the number two blockchain in transaction volume in the last 24 hours https://t.co/HaCzkGSnZL

— Lark Davis (@TheCryptoLark) January 17, 2022

Read Also: Cardano Tops Vitalik Buterin’s Poll: ADA Preferred to Dominate Global Transactions and Savings By 2035

Charles Hoskinson Says Cardano Is Just Getting Started

In response to the analyst’s tweet, IOG boss Charles Hoskinson pointed out that the year has just started, which implies that Cardano will see massive inflows in 2022.

Charles Hoskinson tweeted, “Just getting started Lark, it’s just January.”

Just getting started Lark, it's just January https://t.co/ToJ923QOAk

— Charles Hoskinson (@IOHK_Charles) January 17, 2022

Cardano Scaling Plans for 2022 Unveiled

A few days ago, Input Output Global (IOG), the software firm behind Cardano development, unveiled Cardano scaling plans for 2022.

According to the update, the path IOG intends to take to achieve the scaling of the Cardano network in 2022 includes Block size increase, Pipelining, Input Endorsers, Improvements in Memory/CPU parameters for Plutus, Node enhancements, on-disk storage, sidechains, Layer 2 Hydra scaling solution, Offloading computation and the Mithril solution.

Read Also: Cardano Becoming Leader in Climate Impact: 1 Million Trees Now Planted and Recorded On Cardano Blockchain

Recently, the block size of the Cardano blockchain was increased from 8kb to 72kb, which represents a 12.5% increase. According to IOG, lots of improvements will be implemented this year.

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The post Massive Inflows into Cardano Just Getting Started –Charles Hoskinson appeared first on Times Tabloid.

In a new interview with CNBC, Cathie Wood pointed out that ARK Invest foresees a scenario where institutional investors aid Bitcoin (BTC) to surge by 1,000% from current prices, which is relatively $500,000.

Read Also: Real Vision CEO Raoul Pal Betting on Bitcoin (BTC), Ethereum (ETH), and Nine Other Altcoins

Cathie Wood noted:

“We think the move by institutions into Bitcoin if we were to choose Bitcoin, and that seems to be their first stop, could add $500,000 to Bitcoin’s price.”

At the time of press, Bitcoin (BTC) trading at $49,249. Should Bitcoin follow Wood’s target, a price tag of $549,249 means that BTC would rise by roughly 1,000% from current values. According to the ARK Invest CEO, the scenario could play out if institutional investors allocated around 5% of their capital to BTC over time.

Wood adds that institutional money managers are investing in cryptocurrency and are initially buying the two biggest crypto assets by market cap.

“I think institutions are moving in and right now crypto of any sort, they are starting with Bitcoin and [Ethereum]. Crypto of any sort is a de minimis (immaterial) amount or percentage of institutional portfolios.”

Read Also: Biggest Bank in Colombia to Offer Bitcoin (BTC) Trading Via Partnership With Gemini

Cathie Wood also says institutional investors are turning to crypto for diversification purposes.

“The reason institutions are moving in is to some extent this is a new asset class with correlations very different compared to other asset classes…

“The closest correlation to other assets is real estate. And so institutional money managers have to look at new asset classes that are evolving, that have low correlations. That’s the key to diversification and it’s the holy grail in terms of asset allocation.”

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After the implementation of smart contracts functionality on the Cardano network via the successful launch of Alonzo on the mainnet, the price of ADA surged to record high, becoming the 4th largest crypto by market cap in the process, with a market valuation of relatively $75 billion.

Read Also: What Makes Cardano the Most Anticipated Smart Contract Platform in the Blockchain Space

The launch also went further to push the price of ADA up to $3 for the first time since inception, displacing Binance Coin (BNB) from the third position in the market. Howbeit, over the past couple of weeks, the cryptocurrency has failed to maintain its surging trend as the price of other competing altcoins, such as Solana (SOL), surged massively.

For the past few weeks, Cardano (ADA) has been forming lower lows from a close of $2 in October to the current low of $1.43. At press time, Cardano (ADA) is changing hands at $1.59, up 1.5% in the past 24 hours, according to CoinGecko data.

Despite the lethargic market performance, several crypto analysts still believe in the prospect of Cardano (ADA).

Read Also: Cardano Block Size to Increase by 12.5% to 72KB on 1st December after Testnet Deployment This Week

Time for Cardano (ADA) To Start Taking Off

Popular crypto analyst and trader, Lark Davis, believes the price of Cardano (ADA) will rise more in the coming days, thanks to the upcoming DeFi projects such as SundaeSwap and Ardana.

Lark Davis tweeted: “I feel like it is about time for #cardano to start taking off again. We are about to see a lot of #defi stuff coming in like Ardana and Sundae Swap that will drive increased demand for $ada.”

I feel like it is about time for #cardano to start taking off again.

We are about to see a lot of #defi stuff coming in like Ardana and Sundae Swap that will drive increased demand for $ada

— Lark Davis (@TheCryptoLark) November 28, 2021

The rise of dApps and NFTs on Cardano

Cardano has considerably grown a wide range of decentralized applications (dApps) and non-fungible token (NFT) projects and getting ready to power more applications.

In a recent tweet, on-chain data analysis platform Coin98 Analytics noted that smart contracts development on Cardano is on the rise.

“A huge wave of new Dapps has emerged on the Cardano blockchain.”

Read Also: Charles Hoskinson: 2022 Is About Optimizing Throughput and Connecting Sidechains, It’ll Be a Fun Year for Cardano

Also, NFT investor Patrick Tobler, added that NFT-MAKER, one of the earliest dApps on Cardano has already powered over 400,000 NFTs.

“@nftmakerio has been around for months. One of the earliest dApss on Cardano, responsible for more than 400,000 NFTs. Many of the projects are directly dependent on NFT-MAKER.”

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At the time of writing, according to ethburned.info, 289,063 ETH worth $981,400,000 at current prices has been burned. It also shows that 198 ETH was burned in the last hour.

Read Also: Over $400 Million Worth of ETH Now Burned by Ethereum EIP-1559

The non-fungible token (NFT) marketplace, OpenSea, continues to burn most ETH. And simple ETH transfers continue to secure the second position, burning relatively 24,000 ETH worth $80 million at current prices.

This can be attributed to the fact that simple fees briefly reached $150 at one point during the dYdX airdrop, which cost about $1,500 to claim. Things have now become normal with simple fees at about $3. This implies that the rate of burning ETH varies depending on network demand.

Read Also: David Gokhshtein Says Ethereum (ETH) Is Poised To Hit $14,000 and Dogecoin (DOGE) To $1

The rate of burning may also depend on the level of usage of second layers which could take out some transactions that otherwise would have burned ETH.

Lark Davis: The Economics of Ethereum (ETH) Are Rocket Fuel

Lark Davis, a popular crypto pundit, has recently stated that the current economics of Ethereum (ETH) is rocket fuel, referencing the nearly $1 billion of ETH already burned due to the implementation of EIP-1559. He added that the much-anticipated event called The Merge will boost Ethereum economics even more.

Read Also: Vitalik Buterin Speaks On Likely Date of The Merge and What Happens After the Two Ethereum Chains Are Merged

Lark Davis tweeted, “We’re almost at a billion dollars of ethereum burnt due to EIP 1559. Thus there has been a billion less in sell pressure from miners. The economics of Ethereum are rocket fuel, and it will only intensify when The Merge happens and we switch from mine and dump to stake and save.”

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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.

Read Also: Know This, Charles Hoskinson Did Not Say Cardano (ADA) Will Hit $150 by the End of the Year

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.”

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 pic.twitter.com/5YJQxom9rs

— Lark Davis (@TheCryptoLark) August 24, 2021

Read Also: Top Analysts: Cardano (ADA) Could Revisit All-Time High Soon, Poised For 604% Price Surge

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.

Read Also: What Charles Hoskinson Said about the Possibility of Hacking Smart Contracts on Cardano Network

“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.

Read Also: What Charles Hoskinson Said about the Possibility of Hacking Smart Contracts on Cardano Network

“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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The post Lark Davis: Cardano (ADA) Can Surge 25x to Equal Apple Market Cap, But 100x Is Unlikely This Decade appeared first on Times Tabloid.