Anndy Lian: Bitcoin Price Surges to $35,000, More Gains Ahead

Anndy Lian: Bitcoin Price Surges to $35,000, More Gains Ahead

Bitcoin, the world’s largest and most popular cryptocurrency, has been on a bullish streak lately, reaching $35,000 for the first time since May 2022. The digital asset has more than doubled in value this year as investors flock to it amid inflation fears, regulatory developments, and growing adoption.

One of the main drivers of Bitcoin’s rally is the anticipation of a spot Bitcoin exchange-traded fund (ETF) approval by the U.S. Securities and Exchange Commission (SEC). A spot ETF would allow investors to buy and sell Bitcoin directly on regulated stock exchanges without having to deal with crypto platforms or custody issues.

Several companies have applied for a spot in Bitcoin ETF, including BlackRock (NYSE:BLK), WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise, and Valkyrie Digital Assets. The SEC has postponed its decision on these applications until November, but some analysts believe that the regulator will eventually greenlight at least one of them.

A spot Bitcoin ETF would be a game-changer for the crypto industry, as it would boost the liquidity, accessibility, and legitimacy of Bitcoin. It would also attract more institutional and retail investors to the market, creating more demand and driving up the price.

Another factor that is fueling Bitcoin’s rise is the upcoming halving event in 2024. The halving is a process that reduces the reward for mining new blocks of Bitcoin by 50% every four years. This creates a scarcity effect that increases the value of each coin. The halving also coincides with a cyclical pattern of Bitcoin’s price movements, which tend to peak about a year after each halving.

The last halving occurred in May 2020, when the reward dropped from 12.5 to 6.25 bitcoins per block. Since then, Bitcoin has surged from around $9,000 to over $35,000. The next halving is expected to happen in May 2024, when the reward will drop to 3.125 bitcoins per block. Many experts believe that this will trigger another bull run that could push Bitcoin to new heights.

One of them is Peter Brandt, a legendary trader and analyst who has been following Bitcoin since 2011. Brandt has recently shared his bullish chart that predicts new all-time highs for Bitcoin by the third quarter of 2024. He says that Bitcoin has hit its bottom at around $25,000 in July 2023 and will break out of its long-term range by mid-2024. He also suggests that Bitcoin will go through a period of consolidation or sideways movement until then.

Brandt’s chart shows that Bitcoin follows a series of bullish impulses followed by periods of correction. He expects that Bitcoin will reach around $40,000 in the short term, based on its convincing break above the $32,000 level. He then forecasts that Bitcoin will correct to around $30,000 before resuming its uptrend and reaching new highs above $70,000 by Q3 2024.

Brandt is not alone in his optimistic outlook. Other analysts have also made bold predictions for Bitcoin’s future price. Some of them include:

  • Alistair Milne, founder of Altana Digital Currency Fund, predicts that Bitcoin will surge to $45,000 depending on what happens with inflation.
  • Dan Tapiero, co-founder of 10T Holdings and Gold Bullion International, who believes that Bitcoin could reach $100,000 by 2025.
  • Tim Draper, billionaire investor and founder of Draper Associates and DFJ Venture Capital, expects that Bitcoin will hit $250,000 by mid-2023.
  • John McAfee, a software entrepreneur and crypto advocate, who claims that Bitcoin will reach $1 million by 2025.

Why I Think Bitcoin Will Drop to $29,000 Before Surging to $40,000

Bitcoin, the world’s leading cryptocurrency, has been on a roller coaster ride this year, reaching new highs and lows. As of writing this article, Bitcoin is trading at around $35,000, up from its recent low of $25,000 in July 2023. However, I believe that this rally is not sustainable and that Bitcoin will face another major correction before it can break out of its long-term range and reach new heights.

There are several reasons why I think Bitcoin will drop to $29,000 before it can surge to $40,000 and above. These include:

  • The lack of a spot Bitcoin ETF approval by the SEC
  • The increasing competition from other cryptocurrencies and technologies
  • The diminishing returns of the halving effect

Let me explain each of these points in detail.

The lack of a spot Bitcoin ETF approval by the SEC

One of the main catalysts for Bitcoin’s recent rally is the expectation of a spot Bitcoin ETF approval by the U.S. Securities and Exchange Commission (SEC). A spot ETF would allow investors to buy and sell Bitcoin directly on regulated stock exchanges without having to deal with crypto platforms or custody issues.

However, I think that this expectation is too optimistic and that the SEC will not approve any spot Bitcoin ETF anytime soon. The SEC has been very cautious and sceptical about Bitcoin and crypto in general, citing issues such as market manipulation, fraud, volatility, liquidity, custody, and investor protection.

The SEC has already postponed its decision on several spot Bitcoin ETF applications until November, but I doubt that it will grant any approval by then. The SEC has rejected or delayed every Bitcoin ETF proposal since 2013, and I don’t see any reason why it would change its stance now.

Therefore, I think that the market is overestimating the probability of a spot Bitcoin ETF approval and that this will lead to disappointment and sell-off when the SEC announces its verdict. I expect that this will trigger a downward pressure on Bitcoin’s price and push it below $30,000.

The increasing competition from other cryptocurrencies and technologies

Another factor that could weigh on Bitcoin’s price is the increasing competition from other cryptocurrencies and technologies that offer faster, cheaper, more scalable, and more innovative solutions.

Bitcoin is the first and most dominant cryptocurrency, but it is not the only one. There are thousands of other cryptocurrencies that have emerged since Bitcoin’s inception in 2009, each with its own features, advantages, and disadvantages.

Some of these cryptocurrencies are challenging Bitcoin’s supremacy in different aspects, such as:

  • Ethereum, which is the second-largest cryptocurrency by market cap and the leading platform for smart contracts, decentralized applications (DApps), decentralized finance (DeFi), non-fungible tokens (NFTs), and more.
  • Cardano, which is the third-largest cryptocurrency by market cap and a rival to Ethereum that claims to offer a more scalable, secure, and sustainable platform for smart contracts and DApps.
  • Solana, which is the fifth-largest cryptocurrency by market cap and a high-performance blockchain that boasts over 50,000 transactions per second (TPS), low fees, and interoperability with other blockchains.
  • Dogecoin, which is the ninth-largest cryptocurrency by market cap and a meme-inspired coin that has gained popularity among retail investors and celebrities such as Elon Musk.

These are just some examples of the many alternatives to Bitcoin that are gaining traction and adoption in the crypto space. These cryptocurrencies are not only competing for market share but also for innovation and development.

While Bitcoin has a loyal fan base and a strong network effect, it also suffers from some limitations and challenges that could hinder its growth potential. Some of these include:

  • Its slow transaction speed of around 7 TPS, makes it unsuitable for micropayments or high-frequency transactions
  • Its high transaction fees of around $10 per transaction, which make it expensive for small or frequent transfers
  • Its limited scalability is due to its fixed block size of 1 MB, which limits its capacity to handle more transactions per second
  • Its high energy consumption is due to its proof-of-work (PoW) consensus mechanism, which requires a lot of computing power and electricity to secure the network
  • Its lack of programmability due to its simple scripting language, which limits its ability to support complex functions or applications

These limitations could make Bitcoin less attractive or relevant compared to other cryptocurrencies or technologies that offer better solutions or features. Therefore, I think that Bitcoin will face more competition and pressure from other players in the crypto space and that this will affect its price negatively.

The diminishing returns of the halving effect

A third reason why I think Bitcoin will drop to $29,000 before it can surge to $40,000 is the diminishing returns of the halving effect.

The halving is a process that reduces the reward for mining new blocks of Bitcoin by 50% every four years. This creates a scarcity effect that increases the value of each coin. The halving also coincides with a cyclical pattern of Bitcoin’s price movements, which tend to peak about a year after each halving.

The last halving occurred in May 2020, when the reward dropped from 12.5 to 6.25 bitcoins per block. Since then, Bitcoin has surged from around $9,000 to over $35,000. The next halving is expected to happen in May 2024, when the reward will drop to 3.125 bitcoins per block.

Many experts believe that this will trigger another bull run that could push Bitcoin to new heights. However, I think that this effect will be weaker and less predictable than before.

There are several reasons why I think the halving effect will diminish over time. These include:

  • The decreasing impact of the reward reduction on the supply and demand of Bitcoin. As the reward gets smaller and smaller, it will have less influence on the inflation rate and the market price of Bitcoin. For instance, the first halving in 2012 reduced the inflation rate from 50% to 25%, while the fourth halving in 2024 will reduce it from 1.8% to 0.9%. This means that the supply shock will be less significant and less noticeable than before.
  • The increasing difficulty and cost of mining Bitcoin. As the reward gets smaller and smaller, it will become harder and more expensive for miners to break even or make a profit. This could lead to some miners exiting or reducing their operations, which could affect the security and stability of the network. It could also create more selling pressure on the market, as miners need to sell some of their coins to cover their expenses.
  • The decreasing correlation between the halving and the price cycles of Bitcoin. As Bitcoin matures and becomes more influenced by other factors such as adoption, regulation, innovation, and competition, it will become less dependent on the halving as a price driver. The halving may not be as reliable or accurate as a predictor or indicator of future price movements as before.

Therefore, I think that the halving effect will not be as strong or consistent as before and that it will not be enough to propel Bitcoin to new highs without other positive catalysts or developments.

Conclusion

Of course, these predictions are not guaranteed to come true and should be taken with a grain of salt. Bitcoin is a volatile and unpredictable asset that can be influenced by many factors beyond anyone’s control. Some of the risks and challenges that could affect Bitcoin’s price include:

  • Regulatory uncertainty and crackdowns from governments and central banks
  • Cyberattacks and hacks on crypto platforms and users
  • Technical issues and bugs in the Bitcoin network or software
  • Competition from other cryptocurrencies and technologies
  • Market manipulation and fraud by whales and bad actors
  • Loss of confidence and trust among investors and users

Therefore, anyone who is interested in investing in Bitcoin should do their own research and due diligence before making any decisions. They should also be aware of the potential rewards and risks involved and be prepared for high volatility and price swings.

Bitcoin is a revolutionary and innovative invention that has changed the world of finance and technology. It has also created a new asset class that offers unprecedented opportunities and challenges for investors and users. As Bitcoin enters its second decade of existence, it will continue to evolve and grow, and possibly reach new heights that no one can imagine.

 

 

Source: https://in.investing.com/analysis/anndy-lian-bitcoin-price-surges-to-35000-more-gains-ahead-200601620

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Hooked Protocol price prediction: What is HOOK?

Hooked Protocol price prediction: What is HOOK?

We’ve heard of earn-to-play tokens but what does a learn-to-earn cryptocurrency exist?

Now it does!

The Hooked Protocol (Hook) is one of the first platforms to incorporate GameFi technologies with learning and cryptocurrencies by teaching new and experienced crypto investors about the world of Web3 through playing games.

Even though its native token, HOOK, was launched on 1 December 2022, the token is already making headlines with a surge of more than 40% on its second day of existence.

What does the Hooked Protocol price prediction suggest?

What is Hooked Protocol (HOOK)?

Hooked Protocol is the “on-ramp layer for massive Web3 adoption to form the future of community-owned economies”.

The application was created with the aim of helping everyone, whether they have had previous crypto experience or not, enter, own and earn a share of crypto through a gamified experience. In addition, the platform is providing crypto investors with a number of learning and earning tools, via gamified learning, that will help them enter and adapt to the world of Web3 through playing games.

Its most prominent game is Wild Cash, “the all-in-one Learn-to-Earn dApp [decentralised application]” that rewards users in GOLD tokens for their participation in “delicately tailored quiz challenges”.

According to the Hooked Protocol website, Wild Cash is the first and only Web3 application to dominate a Google Play ranking ever having achieved more than 2.5 million monthly active users, over 50,000 new users and 90% of user participation in three months after its launch (the DApp was launched in the third quarter of 2022).

The platform is targeting “billions of Web2 internet users who can be onboarded to Web3” through its learn-to-earn initiative in order to solve one of the biggest unresolved challenges of the crypto industry – the lack of new users.

“Potentials for intrinsically dynamic modern virtual economy after covid are recognized and scaled up, leading to upsurging demands for trusted cooperation and sustainable economic model in Web3,” Hooked Protocol said in its whitepaper.

The platform has a dual token system:

  • HOOK: its governance token that reflects the value of the Hooked protocol ecosystem
  • Hooked Gold Token (HGT): an in-ecosystem only utility token through which the community is incentivised.

Apart from governance, HOOK is also used to pay for gas fees in on-chain activities and staking incentives as holding rewards. In addition, by holding HOOK tokens, community members may gain access to exclusive events and grants to buy limited editions of in-platform non-fungible tokens (NFTs).

“HOOK will be put into innovation practices which overall benefit the ecosystem of both individual participants and businesses, ensuring considerable liquidity and token value will grow in direct proportion for the success of the whole community,” the coin’s whitepaper noted.

A bullish start in a bear market

HOOK launched on CoinMarketCap on 1 December 2022 and within a day had gained over 40%, up from $2.0626 to $2.9016, its all-time high. In general, HOOK has had a pretty bullish start, a significantly positive aspect in an overall bear market.

The bull run in the coin’s price, however, did not last long as it lost over 20% of its gains on 2 December 2022, dropping to around $2.30 as the platform warned investors on Twitter that all HOOK tokens for sale on PancakeSwap were fake.

HOOK to USD price chart, December 2022

HOOK to USD price chart, December 2022

Source: CoinMarketCap

By the following day, the cryptocurrency managed to regain some of its losses, rising 13.8% to $2.617, but soon fell back down to $2.15.

Between 3 and 4 December 2022, HOOK fluctuated between $2.10 and $2.30 before surging twice, first by 15.8% to $2.4904 from $2.15 and then by an additional 1% to $2.517, possibly hiked by the platform’s whitelist giveaway.

Since surging to $2.517 on 4 December 2022, HOOK’s value has been dipping, down by 9.8% to $2.27 as of 7 December 2022.

According to data published on CoinMarketCap, as of 7 December 2022 the total number of HOOK coins in circulation is capped at 500 million. The cryptocurrency does not have a maximum supply, meaning that an unlimited amount of tokens can be mined. HOOK’s circulating supply stands at 50 million.

Latest news driving HOOK

Perhaps, some of the biggest news, news driving HOOK in recent days is the token’s listings on major exchanges.

On 2 December 2022, PancakeSwap announced that “the HOOK fam is now live on” the platform, meaning the token was available for purchase on the crypto exchange.

In addition, the HOOK cryptocurrency has been highly driven by the completion of the Hooked Protocol subscription launchpad and its listing on Binance, one of the most popular crypto exchanges worldwide.

According to a press release published by Binance, over 114,000 investors committed more than 9 million BNB during the subscription period, showing high interest for the HOOK cryptocurrency.

In other news, on 5 December 2022 the Hooked Protocol platform announced the end of its very first Hooked Web3 Quiz Maker Contest, which saw the winner scoring $100 equivalent of HOOK, with the platform promising more “fun” to come soon.

In a blog post published on Medium on 5 December 2022, the Hooked Protocol noted that the platform is working on bettering its user acquisition methodology in order to further expand the platform on a more global level.

In addition, the Hooked Protocol will focus on user engagement by “adding more content and developing new features to keep users engaged”.

Finally, “on the user rewards and commitment side” the platform is planning to launch an incentive mechanism in the following weeks.

HOOK is also planning to launch a product roadmap and airdrop plan.

So, what is the overall sentiment on the future Hooked Protocol price prediction?

Hooked Protocol price prediction

According to data provided by BitNation, as of 7 December 2022 the Hooked Protocol Price prediction for 2023 sees the token surging to $6.29 and reaching $9.44 by 2025. The website’s long-term Hooked Protocol coin price prediction saw the coin rising to $15.52 by 2028 and $22.02 by 2030.

DigitalCoinPrice also supported the bullish Hooked Protocol crypto price prediction, seeing the token averaging $5.73 in 2023. The website’s Hooked Protocol price prediction for 2025 saw the coin surging past an average of $9 and exceeding $11 in 2027.

The website’s Hooked Protocol price prediction for 2030 saw the token passing an average $32.

Anndy Lian, chief digital advisor at the Mongolian Productivity Organisation and author of NFT: From Zero to Hero, told Capital.com that the recent HOOK price surge was due to the cryptocurrency’s listing on Binance:

“Based on past track records for Binance Launchpad projects, users highly value such projects. Hence hitting numbers like this are not uncommon.”

He also added that, at the time of launch, only 10% of the tokens were in circulation, which, according to Lian, is an easier amount of currencies to manage.

“I would like to see how Hooked Protocol fairs in the bear market and how ‘quiz-to-earn’ rewards can be sustained over a more extended period. A similar comparison with GMT would be fair too. I remember them jumping to $3.80, and then their price plummeted 90% shortly. If they can manage the rewards, continue to build on its community and use base. They could be a considerable force to reckon with.”

To conclude, Lian noted that in the long run, only time will tell on where the Hooked Protocol price prediction will head.

The Hooked Protocol whitepaper also shared an outlook on what could potentially affect the future HOOK price predictions noting that the coin’s “long-term value is tied with the confidence people hold for the project but as opposed to HGT, supply of HOOK is fixed and designed to be deflationary”.

Note that HOOK/USD predictions can be wrong and shouldn’t be used as a substitute for your own research. Always conduct your own due diligence looking at fundamental and technical analysis, a wide range of commentary and latest news. Remember that past performance does not guarantee future returns. And never trade money that you cannot afford to lose.

 

 

Source: https://capital.com/hooked-protocol-hook-price-prediction

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Cardano futures: ADA price pressure to persist amid FTX fallout

Cardano futures: ADA price pressure to persist amid FTX fallout

The recent FTX crisis has caused a whirl in the crypto world with many investors pulling out their assets from the market that’s already dominated by bearish sentiment.

Cardano’s ADA, has been on a bear run in 2022, losing over 89.8% of its gains since the all-time high of $2.9706 on 3 September 2021 to $0.3032 on 21 November 2021.

How do Cardano futures work and where could the cardano futures price be headed? Read on…

What are cardano futures?

Cryptocurrency futures are contracts between two parties that are betting on the future price of a digital asset. When traders purchase a cryptocurrency’s futures contract, they gain exposure without owning the underlying coin, agreeing to pay a certain price for the asset in future. When the futures contract expires, however, the trader has to settle it – in other words, they buy the coin.

The Cardano blockchain was launched in 2017 as a third-generation cryptocurrency platform. It has a Proof-of-Stake (PoS) consensus mechanism and was designed to be a more scalable, sustainable and interoperable version of Ethereum. For this reason, the blockchain’s supporters labelled Cardano the “Ethereum killer”.

In September 2021, Cardano gained smart contract capability, allowing for the creation of decentralised apps (dApps), non-fungible tokens (NFTs), games, new cryptocurrencies and more.

ADA is the blockchain’s native cryptocurrency named after the 19th century mathematician Ada Lovelace. The coins are used as a secure exchange of value and to pay for transaction fees

Cardano futures, therefore, are contracts between two parties that have agreed to buy and sell a specific amount of ADA at a specified price. Cardano futures are often known as Cardano perpetual futures or cardano perpetual swaps.

Traders who purchase ADA futures are betting that the price of the cryptocurrency will surge in the future. If that happens, they will profit from the price increase. If the price of Cardano falls, however, they will lose money.

Cardano futures history

Cardano futures started trading on Binance at the end of January 2021. They enjoyed bullish momentum, jumping by more than 4,100% between January and May 2021. The surge came as Cardano continued development of its smart contract capabilities and launched a peer-to-peer testnet to a small group of users.

After a slight dip in July 2021, the ADA futures price climbed to the all-time high of $2.9706 on 3 September 2021. The rally came ahead of the blockchain’s Alonzo hard fork, which introduced smart contract capabilities to Cardano.

ADA futures price, January 2021 – November 2022

Following the bull run, the ADA futures contract dipped by more than 35% by 27 October 2021 and continued on a downward trend.

Cardano futures price fell  to $0.3032 on 21 November 2022 amid negative market sentiment. The recent news on the downfall of the FTX crypto exchange and its native FTT  token added to the bearish price action.

What is driving cardano futures?

The collapse of the FTX crypto exchange affected many major cryptocurrencies, cooling investor sentiment. CoinMarketCap data showed that the total cryptocurrency market capitalisation fell below $800bn on 11 November, when FTX filed for Chapter 11 bankruptcy, the lowest level since early 2021.

Total market capitalisation of all cryptocurrencies, 2016 – 2022

“Although aftereffects of the FTX shock will still likely surface at some point and the industry will have to adopt more financially transparent operation and come under stricter regulatory oversight, the worst part may have passed,” Bitbank crypto market analyst Yuya Hasegawa said in his weekly view.

Meanwhile, the Cardano blockchain saw a spike in activity between 9 and 14 November as the number of new addresses on the blockchain surged from 0 to 11,240, according to data on Cardano Blockchain Insights.

The network, however, had seen a surge in the number of transactions on 8 November, which surpassed 391,000 as FTX crashed.

Cardano’s founder, Charles Hoskinson, said in a live YouTube stream on 9 November:

“I think this might be the bottom, one of the last ones to deal with. It’s going to be hard to predict how bad it will be, and it could certainly potentially be very bad. There are not many more firms that were like FTX or Alameda or like, Three Arrows Capital, and so forth. At least in this cycle, I truly do hope that this is the last cycle of this nature.”

In other cardano futures news, Hoskinson told CoinDesk on 18 November that Cardano is looking to launch a new privacy blockchain and digital asset which he stated to be something “the enterprise absolutely wants”.

Cardano futures price prediction for 2023 and beyond

Algorithm-based prediction websites did not provide cardano futures forecasts, so let’s have a look at the latest ADA/USD outlook.

In line with the latest downward price action, algorithm-based forecasting service Wallet Investor gave a bearish ADA price prediction at the time of writing (21 November) noting that ADA was “a bad long-term investment”.

Based on its analysis of past price performance, Wallet Investor predicted that the token could fall to $0.01016  in 2023. The site did not provide an ADA price prediction for 2027.

DigitalCoinPrice, on the other hand, gave a bullish ADA to USD price prediction expecting the token to grow to $0.39 by the end of 2022 and reach $1.30 on average in 2025. By 2027, the site predicted that the price of ADA tokens could reach $1.59. Its long-term token forecast showed the cryptocurrency reaching $4.35 by 2030.

Meanwhile,  Anndy Lian, the chief digital advisor at the Mongolian Productivity Organisation and author of ‘NFT: From Zero to Hero’, told Capital.com that mid-term technical indicators looked bearish (as of 21 November). He added:

“Sellers’ pressure increases in the cardano market. I hope the longer term potential factors like Midnight and USDA can change things for the better.”

News that the group behind Cardano, Input Output Global, is planning to release a new privacy-focused blockchain could have a potential effect on ADA futures, Lian added in his cardano futures price prediction.

In addition, the launch of USDA, the first fully fiat-backed regulated stablecoin on Cardano, will start trading in early 2023, could lead to a hike in the cardano futures price.

“If executed well, I see this will help ADA decentralised finance ecosystem, thus bringing in more liquidity and support into the network,” Lian added.

Final thoughts

Remember, analysts’ and algorithm-based predictions can be wrong. If you’re considering entering the cardano futures market, we recommend you always conduct your own due diligence, looking at the latest news, a wide range of analyst commentary, technical and fundamental analysis. Note that past performance does not guarantee future returns and cryptocurrency markets remain extremely volatile. And never trade money you cannot afford to lose.

 

Source: https://capital.com/cardano-futures-price-prediction-ada

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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