Cardano Surpasses 1M ADA Wallets, Crypto Analysts Say may Reach $40

The total number of Cardano ADA wallets has already witnessed a huge surge in the year 2021, and crypto analysts of Crypto Capo have predicted the price for Cardano to be around $40 in the long term. In an announcement made by the Cardano Foundation, the community of the proof-of-stake blockchain has seen commendable growth in the year 2021.

Cardano ADA can Reach $40, Crypto Analyst Optimistic After Surpassing 1M Wallet Count

Crypto Capo has recently offered his long-term price prediction for Cardano and this was not the first time that the crypto analyst has been bullish on the ADA token. 

Back in the month of March, Crypto Capo said that it has been revealed from the technical analysis of Cardano that it can reach $3-$4 in the medium term and has the potential to reach $30 in the long term.

As of January 1, there were only 203,519 ADA wallets, which means that the number of addresses has increased nearly five times since the beginning of this year.

While the cryptocurrency is currently down around 48% from its ATH of $2.45 that it made on May 16, the token is still up a whopping 691% year-to-date.

In addition to this, the rollout of the Alonzo hard fork, which is most expected to happen this August is broadly expected to be a new tailwind for Cardano given that it will finally be bringing smart contracts to the leading proof-of-stake blockchain.

Market Aggregators Predictions

Data from a leading market aggregator suggests that the price of Cardano, ADA may hit $1.6017 which is really far from the intraday positions of today at 1:34 UTC.

On May 22 at 8:20 UTC, the cryptocurrency was trading around $1.4880, which was up by 5.13% in the past 4-hour period.

In addition to this, it should also not be forgotten that this cryptocurrency has been termed as the Ethereum killer due to its potential.