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Crypto Capital Venture founder Dan Gambardello believes Cardano (ADA) has the potential to see a tenfold increase in the current market cycle.
Over the past week, several analysts have called for a bounce in the price of Cardano‘s native token ADA amid a 45% correction from highs of $1.3264 to lows around the $0.7620 price point.
With the asset now trading above the $1 price point again, one such analyst has set a mouth-watering target for it in the current market cycle.
Cardano’s ADA to $10?
Crypto Capital Venture founder Dan Gambardello has expressed the belief that Cardano’s ADA has the potential to see a tenfold increase in the current market cycle.
In an X post on Sunday, January 5, the highly followed analyst disclosed that he expects ADA to hit the $10 price point in the bull market, representing a 1,000% upside potential from current prices.
Was gonna release this $ADA bull market analysis to my paid Substack, but decided to release it free to the entire Cardano community
You’re welcome pic.twitter.com/N1WYnah9rG
— Dan Gambardello (@cryptorecruitr) January 5, 2025
While Gambardello did not disclose the reasons behind his prediction on Sunday, he has long noted that ADA was the top holding in his bull market portfolio, labeling the asset an “underdog value play.”
In a video analysis shared on December 31, 2024, he highlighted that ADA had strong fundamentals beyond current political and macroeconomic tailwinds from the incoming Donald Trump administration and global quantitative easing.
To buttress this point, the analyst shared a December 30 X post from Cardano founder Charles Hoskinson, tipping the blockchain to reach “new heights” in 2025.
Among the reasons shared by Hoskinson for this outlook was the network’s potential role in Bitcoin DeFi thanks to its BitcoinOS partnership, the launch of its privacy-focused protocol Cardano Midnight, ongoing partnerships with other blockchains, DApp upgrades, and the anticipated Cardano Layer 2 Midgard.
Gambardello contended that the potential impacts of these developments were underestimated.
The Blow-Off Top Scenario?
Gambardello’s recent $10 ADA price prediction could be the analyst’s blow-off top target. A blow-off top is a steep price increase typically sparked by a fear of missing out (FOMO) as an asset’s price rallies in a bull market. It is often followed by an equally steep price correction.
In the December 31 analysis, Gambardello had set a conservative $7 to $8 price target for ADA in the current market cycle, assuming that it would be able to capture at least half of Ethereum‘s momentum in the past bull market cycle and hit a market cap of $250 billion. He had noted that a blow-off top could send the asset’s price even higher.
It is currently unclear when exactly in 2025, ADA could reach Gambardello’s targets. At the time of writing, however, the asset is trading around the $1.08 price point with resistance at $1.10.