ChatGPT predicts 2024 will see Cardano hitting $10

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice, and is solely the writer’s opinion.

Cardano’s native token rose by over 60% in 7 days, outpacing other popular cryptocurrencies like Bitcoin and Ethereum. However, it wasn’t too last, with the bears rapidly gaining an edge in the market too.

Even so, Cardano’s latest uptrend has practically reversed all of its losses from earlier in the year. This indicates an astounding 150% rise in value for ADA in 2023, with a majority of the gains happening in the last six months. This positive price performance is fueling the present expansion of its decentralized finance (DeFi) ecosystem.

Hoskinson defends Cardano

Charles Hoskinson, the founder of the Cardano blockchain recently took a firm stand against critics who questioned the protocol’s capability to handle full blocks. He addressed the network’s critics in one of his most recent posts on the X app, praising the network’s scalability and comparing its victory to that of flagship cryptocurrency Bitcoin (BTC).

I can’t help but watch with glee all the concerns floating around about Cardano’s blocks being too full. I recall the ghostchain narrative for years, the no use and utility. Suddenly we are too busy?

In reality, Cardano is designed to operate at these loads and there is a huge…

— Charles Hoskinson (@IOHK_Charles) December 18, 2023

Hoskinson began by recalling a period when there were worries about Cardano’s blocks being excessively full, as well as a ghost chain narrative claiming that the blockchain had no use.

He went on to highlight Cardano’s outstanding progress, noting that the network is not only capable of handling current demands but also has significant scope for optimisation and scalability. Hoskinson’s optimism is reinforced by tangible results and data that illustrate Cardano’s progress despite hardships.

Now, let us dive right into the history of the cryptocurrency that remains one of the most popular proof-of-stake (PoS) based

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Author: AMBCrypto Team

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