Cryptocurrency analyst Sebastian explained why he believed Cardano (ADA) this year it may go up to $3. The events highlighted by the analyst undoubtedly paint a bullish picture for the crypto token. However, it remains to be seen how Cardano will react given that it is currently one of the worst performing crypto assets this year.

Why Cardano price is expected to reach $3 this year

Sebastian mentioned in X (formerly Twitter) post four reasons why he believes Cardano will hit $3 this year. First, he mentioned Cardano’s partnership with Argentina. Cardano Foundation recently announced partnership with Entre Ríos, the country’s central province. The move aims to support blockchain adoption in Argentina. The partnership will also benefit ADA as it will lend a hand the network enter the Argentine market.

Secondly, Sebastian mentioned about Chang challenging fork this is another reason why Cardano is expected to reach $3 this year. This network modernization is expected to usher in the “Volter” era of Cardano, focused on decentralized governance. Once that Chang challenging fork occurs, the Cardano network will become more community-oriented, which could lend a hand elevate the Cardano ecosystem and further augment investor confidence.

Sebastian alluded to up-to-date decentralized applications (dApps) launching on Cardano as another reason why the crypto token could hit $3 this year. The launch of these dApps will lend a hand augment Cardano’s network activity and ultimately positively impact the price of ADA as the crypto token gains additional utility.

Finally, Sebastian mentioned that 1.5 billion Cardano tokens will be unlocked for marketing and other investments. He believes that these funds can significantly lend a hand promote the Cardano ecosystem and attract up-to-date users. However, some of his supporters disagreed with him on this point, noting that unlocking such a significant number of tokens would only result in huge sales pressure he YES.

Cardano Chang challenging fork is a ‘massive deal’

Crypto analyst and Cardano bull Dana Gambardello Lately he noticed that the Chang Challenging Fork is a bargaining deal for the Cardano ecosystem, given that the network will become the “ear of decentralized community governance.” The network update is expected to go live later this month, and Gambardello says now is the perfect time to roll out the update altcoin season.

Despite this, Gambardello remains bullish on Cardano not very impressive price action and even assured his followers that the crypto token’s current price action is normal. He he stated that the ADA took a similar position in the case the last running of the bulls but it still saw a huge price in this market cycle. He expects something similar to happen again and hinted that a massive ADA move could happen once the altcoin season gets into full swing.

According to company data, ADA is trading at around $0.40 at the time of writing, down more than 2% in the last 24 hours. data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com