Crypto
Cardano Surges on 3X Network Growth Amid Analyst's $2.90 Price Target
The Cardano (ADA) price has been on an upward trend, rising by 0.7% to trade at $0.21 as of September 5.
This gain follows a surge in network activity, with DeFiLlama data showing that DEX volumes on Cardano have increased three-fold to $7.28 million.
An analyst has mapped out Cardano's path to $2.90, predicting a 14 times gain in price from its current value of $0.21.
The analyst believes the bottom could be in for ADA, despite ongoing concerns around interest rate hikes and the Federal Reserve's upcoming decision on September 16.