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Simon Chandler
Author
Simon Chandler
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The Cardano price has risen by 3.5% in the past 24 hours, reaching $0.3828 on a day when the crypto market as a whole has dipped by 1%.
ADA is now up by 16% in a week and by 14% in a fortnight, with the coin benefitting from the recent news that Cardano founder Charles Hoskinson is likely to meet Argentina’s President Javier Milei in October.
Given Cardano’s existing presence in Argentina, the fact that both Hoskinson and Milei will be attending the same conference invites the belief that Cardano could soon gain more traction within the South American nation.
And because ADA has traded below its fair price for too long now, any significant adoption could see its price rocket.
Cardano Price Forecast: ADA Jumps 15% Ahead of Hoskinson’s Meeting with Argentine President
As we reported last week, Hoskinson’s expects to meet with Milei at the tech conference in October, and to discuss how blockchain adoption could further economic change.
While the meeting is not 100% confirmed for the event, Hoskinson expects it to happen sooner or later, and it could provide a very significant opportunity for Cardano.
The latter had already signed a Memorandum of Understanding with the province of Entre Ríos, with which it will work on boosting blockchain adoption in its area.
As such, it is credible to believe that Cardano will deepen its ties in Argentina, with this expectation helping to boost ADA’s price over the past week.
Even now, ADA’s chart continues to show considerable momentum, with the alt’s RSI (purple) remaining above 50.
It also looks as though the Cardano price is about to bounce off its support level (green), sending it towards $0.39 and potentially $0.40 in the next few days.
Now may therefore be a good time to buy ADA, at a time when it’s beginning to show renewed impetus but is still well below what many would regard as a fair price.
Indeed, it’s currently 87% below its all-time high of $3.09, which it recorded in September 2021.
It therefore has plenty of catching up to do, with Cardano’s fundamentals suggesting that it should recover strongly sooner or later.
For example, there are now over 1,300 projects developing applications and platforms on Cardano, with the blockchain having a total value of $212 million.
And when combined with the upcoming Chang hard fork (which brings zero-knowledge proofs to its network), the Cardano price could rise strongly in the next few weeks and months.
It may hit $0.50 by the end of October, before ending the year at around $1.
New Altcoins with Strong Potential
While ADA remains a dark horse in the cryptocurrency market, traders in pursuit of bigger and faster gains may find more success with newer alternatives.
While the market is awash with thousands of low-quality coins, one way of identifying more promising new tokens is to look for popular presales.
And one coin having a strong sale right now is DICE, the Solana-based native token of online casino Mega Dice.
It has now raised $1.8 million in its token offering, which will end in just over four days.
Mega Dice has had such a successful sale because it’s already one of the cryptocurrency sector’s biggest casinos, having launched in 2023.
As of writing, its website offers a big sportsbook and over 4,500 games, including classic casino staples and a wide variety of virtual slots.
Its new native token, DICE, will serve as the payment token within its platform, while also offering access to exclusive games and bonuses.
It has a max supply of 420 million tokens, with holders be able to stake the token for a passive income.
The combination of utility and staking should mean that DICE experiences significant demand, pushing its price up over time.
While its sale will end very soon, latecomers can still buy it a lower sale price by going to the Mega Dice website.
The coin is currently available at $0.116056 per token, with DICE likely to eclipse this price once it lists on trading platforms next week.
It will begin by listing on Solana-based DEX Raydium, with more listings likely to follow soon after.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
