The Cardano project is starting to thrive as the heavyweight Layer-1 project begins to roll out products to improve its DeFi ecosystem.
The unveiling of its DeFi ecosystem has helped ADA start to see some positive price movements, with analysts expecting the additional utility to help the coin turn parabolic again.
We’ve found three reasons why ADA is set to hit $0.5 in the coming weeks, providing the perfect entry opportunity at today’s low prices.
Meanwhile, as investors wait for ADA to pop, they’re turning their attention to Wall Street Memes, which recently hit the extraordinary $18.7 million milestone in its presale this weekend as it becomes the most sought-after meme coin in the industry.
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Three Reasons Why Cardano Should Pump to $0.5 in the Coming Weeks
Cardano ($ADA) has struggled this year after returning to its 2023 opening price of around $0.25 last month. Nevertheless, it’s seen some bullish price action after breaking an ascending triangle pattern and reaching as high as $0.38 in mid-July.
ADA is still yet to touch $0.5 in 2023. The last time it was at these highs was September 2022.
Despite this, ADA is shaping up to have a fruitful end to 2023, with many analysts expecting it to hit $0.5 in the coming weeks and surging to $1 later in the year.
Here are three reasons why ADA is imminently set to explode.
- Mithril Upgrade Provides Security and Decentralized Decision-Making
Cardano recently launched one of its groundbreaking network upgrades over the weekend – dubbed Mithril. This innovation is set to allow the Cardano network to become more efficient, helping the ecosystem of decentralized applications to thrive.
The upgrade is set to improve the efficiency of the speed of transactions on the network and increase its security.
It also allows dApps in the ecosystem to facilitate decentralized decision-making – expanding the product offering that developers can release.
- Cardano is Outperforming all layer 1 metrics
Another reason why analysts expect ADA to surge to $0.5 is because Cardano is outperforming all its competition in the Layer-1 space.
Data recently released from Messari shows that Cardano is outperforming all layer-1 networks in terms of DeFi growth, stablecoin market cap, and DEX volume;
4/ @Cardano dominated Q2'23 DeFi growth, leading in TVL, Stablecoin Market Cap, and DEX volume among featured L1s despite a 27% QoQ decrease in $ADA's price. @MinswapDEX remained vital, but other post-Q4'22 protocols like Indigo, Djed, Liqwid Finance, and VyFinance also excelled. pic.twitter.com/4qrHzANCcO— Messari (@MessariCrypto) July 20, 2023
The data shows that the quarter-on-quarter growth for DeFi TVL, stablecoin market cap, DEX volume, and DeFi diversity is much higher than the median value for all layer-1 projects – indicating that Cardano is ahead of the game.
In addition, Cardano’s product offering continues to grow, with 135 dApps already launched and another 1,200 building on its network.
- Development activity spiking
Furthermore, the growth of the Cardano network is showing no signs of slowing down as metrics for development activity and contributors continue to increase.
Data from Sentiment shows that the development activity has been exponentially rising since July 2023;
With the Mithril network upgrade already in place, the number of developers on the network will continue to rise as the overall Cardano ecosystem expands.
Meanwhile, Wall Street Memes Crosses $18.7 Million Milestone as Investors Rush to New Meme Coin Sensation.
As Cardano starts to re-appear in mainstream circles, traders are shifting their attention to alternative projects that can deliver higher returns in the short term.
In particular, Wall Street Memes keeps hitting traders’ radar as it quickly becomes one of the most sought-after meme coins in the industry.
The project recently crossed an astonishing $18.7 million fundraising milestone, making it one of the fastest-growing presale projects in 2023.
Investors are rushing to this project as they believe it has the potential to be the next low-cap altcoin to enter the top 50 ranked projects, providing 20-100x returns for early adopters.
It’s usually challenging to find a promising project, but the internet culture, meme-based humor, and huge community are primary reasons driving investors to get positioned at the lowest possible prices.
In addition, Wall Street Memes have also received particular attention from Elon Musk, pushing further adoption of the protocol.
The billionaire tech tycoon has been commenting on the memes from Wall Street Memes on several occasions, sparking speculation from investors regarding his involvement in the project;
🤣— Elon Musk (@elonmusk) April 22, 2023
The entire idea behind Wall Street Memes is to make a mockery out of the giants on Wall Street and the traditional financial system while providing an avenue for continued speculation through the $WSM token.
The memes on its social media profile are incredibly popular, generating over 40 million monthly impressions.
The popularity of the memes and the additional attention from Elon Musk has allowed Wall Street Memes to build a cult-like community of over 1.1 million followers.
As a result, experts believe that $WSM is guaranteed a major tier-1 exchange listing as soon as it launches, as exchanges like Binance and OKX would seek to capitalize on the huge trading volume.
Lastly, the community-driven aspect behind the project intrigues investors about its long-term prospects.
The team is selling 50% of the tokens in the presale, with the other 50% reserved for community rewards and adding liquidity to major exchanges.
YouTube analysts increasingly believe that $WSM will be at the forefront of the next bull cycle;
Overall, Wall Street Memes has set the foundation to become the next meme coin sensation in the industry.
With the presale approaching the $20 million milestone, the $WSM allocation is quickly running out. Therefore, prospective investors must act quickly to get positioned at presale prices or face higher prices when the token launches on tier-1 exchanges.
What Other Coins Are Set to Pump?
It’s not just Wall Street Memes and Cardano gaining traction this week as traders seek new investment opportunities for outstanding gains.
Let’s take a quick look at them both and see why they’re gaining swift investment from traders.
yPredict Is Using AI to Make Profitable Traders
yPredict is an AI-based research and analytics platform that gives traders data-driven insights to help them make better trading decisions and become profitable.
Investors are rushing to this project because they believe it will be at the forefront of the next AI cycle in the market.
The project has expertly integrated its token, $YPRED, into every feature of its product suite – providing it with exceptional utility.
The flagship feature of the platform is the yPredict Marketplace, which allows AI/ML developers to list their financial prediction models in a results-as-a-service economy.
Traders can choose the highest-performing prediction models according to their trading styles and subscribe to them on a monthly basis using $YPRED tokens.
There’s also a yPredict analytics section that provides a range of AI-based tools to help alert traders to imminent breakout patterns and newly forming trends.
Using pattern recognition and sentiment analysis, the AI is capable of sending alerts with confidence scores to traders about the likelihood of the trade playing out.
However, yPredict is using its technology to revolutionize the SEO and content creation space.
For example, the yPredict Backlink Estimator allows SEO experts to accurately predict backlink count and authority metrics to help them make data-driven decisions to drive traffic.
The yPredict Editor helps streamline the workflow for editors in content creation through NLP-driven keyword suggestions and comprehensive scoring.
Overall, the utility behind $YPRED is genuinely outstanding and is expected to provide over 20x returns for early investors as its ecosystem gains adoption – driving demand for $YPRED.
The presale is currently in the fifth stage, selling the token for $0.1. However, with $3.2 million already raised, investors will have to be quick to get positioned at these prices before all of the tokens are sold out.
Launchpad.xyz Helps Investors Find the Next Best Web3 Investment.
The last project turning heads is Launchpad.xyz, a groundbreaking all-in-one solution to help investors find the next best Web3 investment and manage their assets.
The project has already raised $1.2 million in its presale as investors flock to be positioned in his groundbreaking solution to help traders identify and invest in newly emerging Web3 ecosystems.
It’s designed to provide all the tools investors need to research, analyze, and invest in Web3 ecosystems.
Users can get data-driven research in the Web3 industry, including in NFTs, play-to-earn ecosystems, fractionalized assets, presales, metaverses, and utility tokens.
Investors can find all the hotly trending projects in these sectors and see all the research and data on one platform.
Furthermore, it uses a revolutionary AI technology called Launchpad Quotient (LQ) to help rank all the opportunities in each sector.
The LQ will provide a single value score to denote the risk-to-reward ratio for any Web3 project, helping investors make their decisions.
Users will need to stake their $LPX tokens to access the platform through a monthly subscription service, helping provide utility for the token.
Overall, Launchpad.xyz is certainly a project that will help make the Web3 landscape easier to understand for new investors and is expected to become a one-stop solution for gem hunters in Web3.
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com