Ben Armstrong, a well-known cryptocurrency researcher and influencer, recently released a video where he went headfirst into Cardano ($ADA), a proof-of-stake blockchain platform.
Armstrong discussed the value of $ADA in the future as well as the recent release of Mithril on the Cardano network.
In the first segment, Armstrong spoke about how the state-based protocol Mithril has just been released on the Cardano mainnet. This was a big deal for Cardano since it reflects well on the network’s overall speed and efficiency.
The major objective of Mithril is to shorten the amount of time needed for nodes to sync with the blockchain. The present state of the blockchain may be obtained by users without their needing to get the whole blockchain history. For those who have waited for the Daedalus wallet to sync, the Cardano native wallet, Armstrong emphasised how this technical innovation is a welcome relief.
Mithril significantly shortens the synchronisation process. Because it improves both the user experience and the general efficiency of the Cardano network, this improvement is crucial.
The programme was most memorable for Armstrong’s speculation that Cardano’s price may reach $100. While this may be the stuff of fantasy for many Cardano investors, Armstrong offered some reality check.
He said that even if Cardano reached $10, it would be very unlikely to hit $100. Armstrong thinks it’s very improbable that Cardano’s price would rise by 32,260% in the near future, which is needed to hit $100, given the state of the market.
But Armstrong did include a disclaimer. If hyperinflation sets hold, the value of the dollar will continue to fall. These obviously absurd pricing projections could really become reasonable under these conditions. It’s worth noting, however, that this scenario hinges on the falling value of the dollar and not on anything special about Cardano.
Dan Gambardello, the creator of Crypto Capital Venture, is yet another influential figure in the cryptocurrency space, and he recently discussed his optimistic long-term forecast for Cardano (ADA). In the next bull market, Gambardello expects ADA will surge to an all-time high of $7.80, based on analysis of historical data and comparisons to other digital assets.
Also Read: Benjamin Cowen forecasts a 50% decline in Ethereum versus Bitcoin
