Cardano (ADA) New Price Target Is Released

It’s been revealed that there’s a new price update for Cardano’s ADA. At the moment of writing this article, ADA is trading in the red, and the coin is priced at $0.50. Check out the new price target for the digital asset.

According to the latest reports, a popular crypto analyst said not too long ago that Cardano (ADA) is likely to surge leading up to the smart contract platform’s upcoming Vasil hard fork upgrade.

Crypto trader Benjamin Cowen said recently that while ADA is in a clear bear market, the Ethereum (ETH) challenger could soon jump to as high as $0.60.

“If you were to see ADA pump to around $0.52 to $0.60, I think that would be a fairly major milestone for ADA to get to, or to get past it. Especially as the bear market for Bitcoin sort of just drags on and the dollar continues to move higher.”

The analyst said that he’s keeping a close eye on the ADA/ETH valuation before getting overly optimistic about Cardano.

“If I’m going to be buying an altcoin like ADA, I need it to feel like it’s got a high chance of outperforming Bitcoin at the very least, but also, Ethereum.”

The analyst continued and said this:

“If it’s in the bottom of these [ADA/ETH] ranges, then I’m a little more optimistic that it could actually outperform them.”

Cardano (ADA) creator Charles Hoskinson recently revealed what’s next for the Ethereum (ETH) rival’s blockchain after the highly anticipated Vasil upgrade.

In a new video, Hoskinson confirmed the release date of the Vasil hard fork, an upgrade that aims to increase the scalability of Cardano.

Once the important Vasil update is up and running, Hoskinson says Cardano will continue evolving. There are a lot of exciting things that await Cardano these days.