Cardano (ADA) is exhibiting indications of a bullish breakthrough following a consolidation phase. Captain Faibik, a crypto analyst, projects a 70% increase in ADA in the upcoming days. Given Cardano’s close ties to Japan, Sony’s push into the Japanese crypto exchange sector may prove beneficial.
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Cardano (ADA) Price Prediction
Captain Faibik revealed insights on ADA’s price movement, noting that the falling wedge breakout has finally confirmed after a long period of consolidation. Faibik expects a price increase, projecting a 70% bullish rally in the coming days.
This technical analysis comes after ADA’s extended period of sideways trading. Investors and traders often view falling wedge breakouts as bullish signals. Consequently, this pattern could indicate a potential trend reversal for Cardano’s native token.
Read also: Why is Mantra (OM) Price Pumping?
Sony’s Entry into Japanese Crypto Market
Sony has announced plans to launch a crypto exchange in Japan. This move by the tech giant could have major outcomes for the crypto market in the country. Moreover, it might create new opportunities for established projects with strong ties to Japan, such as Cardano.
TapTools, a crypto information platform, highlighted Cardano’s connections to Japan. The project was initially launched in the country and maintains a robust community there. Additionally, EMURGO, one of the founding entities of Cardano, is a Japanese company.
These strong ties to Japan have already benefited Cardano. In 2021, the project secured regulatory listings in the country. This early compliance with Japanese regulations positions Cardano favorably in the growing market.
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Show more +Potential for Market Expansion
Currently, about 4% of the Japanese population owns or holds crypto. However, interest in digital assets is on the rise. Cardano’s established presence and regulatory compliance make it well-positioned to capture a share of this expanding market.
TapTools suggests that Cardano could be “a front runner to capture the untapped Asian markets.” The project’s familiarity with Japanese regulatory requirements and cultural nuances may give it an edge over competitors.
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