Latest Cardano Price Charts Not a Sign of Long-Term Value
The price of Cardano (ADA) is set to increase by 8,000% before the close of 2018 according to supporters of the project. Despite the July 31 Cardano price chart showing a 9.45% 24-hour price drop, insiders remain bullish at the token’s long-term prospects. At the heat of the recent wave of positivity for ADA is an interview with creator Charles Hoskinson. Speaking to YouTube channel Learn Crypto on July 27, Hoskinson described his role in co-founding Ethereum and helping it become the second largest cryptocurrency in the world.
Short-Term Losses Could Lead to Long-Term Gains
For many interested in the price of Cardano, Hoskinson’s pedigree is enough to give it some real long-term value. However, for the man himself, the ultimate success of the project depends on its scalability, the number of transactions per second (TPS) and its userbase. During the interview, the man behind ADA suggested that exhaustive research has provided the perfect foundation for each of these aims to be achieved.
“Cardano’s trying to cover all three areas. So, we started 2015 it was basically just a collection of concepts. We get about three years of research and development and now we’re in a position where we think we have a pretty good shot at being able to pull it off,” Hoskinson told Learn Crypto.
For the Cardano price chart to see an 8,000% increase by December, the token’s market cap would need to top $40 billion. In light of the recent dip, this kind of rise looks unlikely. However, what many Cardano investors seem to be hinging their predictions on is the influence of Wall Street. On June 20, Hoskinson took a moment to remind his Twitter followers about the potential of future investment from the established trading world.
“What’s often missed by the cryptocurrency-is-going-to-die broken-record media is that after the next wave -of regulation, wall street is showing up to the party with all their locked-up capital. That’s tens of trillions of dollars entering the space eventually. The future is bright,” the Cardano creator tweeted.
Wall Street May Help the Price of ADA
Perhaps what ADA supporters are reading into this is something beyond the assertion that more money is about to flood into the market. When Hoskinson left the Ethereum project, he did so partly because those around him seemed to change their position once they’d raised some money.
“I felt that you can’t go raise 18 million dollars and market something one way, and then when it’s inconvenient to you, you go change the terms of sale without the consent of the customer, and not a lot of customers participated,” he said during the Learn Crypto interview.
This awareness of how investments work and the potential power of Wall Street could be a signal that Cardano is hoping to align itself with major financial institutions in the coming years. With news that the Swiss Stock Exchange is preparing to enter the crypto space tying in with interest from asset management firm BlackRock, Wall Street could be the next big investor. Since Hoskinson already spoken on the subject, this could be a signal that some interesting developments are on the horizon. Indeed, even with a small slice of the projected $10 trillion investment, the Cardano price in dollars could easily top the $0.50 mark.