The Cardano price prediction has taken a blow today, after the altcoin fell to $0.825, marking a 4.5% decline in the past 24 hours.
This means that ADA is also down by 13% in a fortnight, although it does retain a 7% gain in a month and a more impressive 128% increase in the past year.
Its movements today also come as founder Charles Hoskinson makes some ultra-bullish remarks about how payment network SWIFT and other traditional financial institutions will eventually die out.
If true, this could bode very well for Cardano and its levels of adoption, but even if it isn’t, the network’s strong fundamentals will still grow the Cardano price over time.
Cardano Price Prediction: Hoskinson Says SWIFT Will Die – Is ADA About to Replace the Banking System?
Speaking in an interview with David Lin, Hoskinson argued that SWIFT and other legacy financial systems were too complicated and inefficient, and that eventually more efficient alternatives would usurp them.
He said, “You can be a multibillion-dollar financial institution, and you have to put in all these bells and whistles, and even then you still have some guy call you after you’ve sent a wire saying, ‘Did you really send that wire?’”
These are confident remarks, yet they haven’t done much to help the Cardano price, which remains in a funk.
If we look at the coin’s chart today, we see that it may still be on a downward curve, as its indicators suggest.
Its relative strength index (yellow) continues to decline after reaching 70 a couple of weeks ago, and at 50 it could still drop to 40 or 30 before bottoming out.
Source: TradingViewLikewise, its MACD (orange, blue) has yet to turn negative after dropping from a peak in mid-August (and mid-July), so we may have to wait one or two weeks before seeing a turnaround.
Having said that, the Cardano price has formed a pennant since mid-July, so we may see a big move in the near term.
It’s also encouraging that its trading volume, at $1.6 billion today, is still around 500% above where it was in early July.
This suggests that demand is still high, and we have seen some significant whale buys of ADA in the past week, including a purchase worth $50.2 million on Bitstamp.
Based on such factors, and based on Cardano’s steady growth as a layer-one platform, we can expect the Cardano price to hit $1 by the end of September, and $3 by the end of the year.
Maxi Doge Presale Reaches $1.6 Million As FOMO For New Meme Coin Grows
If ADA is a little too safe and steady for some traders, they may prefer to invest in newer alts, which can often outpace the market when they list on exchanges for the first time.
This also includes presale coins, with the biggest such coins often rallying hard when they launch.
One of the biggest presales right now is Maxi Doge ($MAXI), an ERC-20 token that has raised just over $1.6 million after opening its ICO a few weeks ago.
Inspired by other Doge-themed tokens, Maxi Doge aims to ramp up the bullishness and bravado by several degrees, with its branding focused on aggressive trading.
Aside from being another viral meme coin, it will build an online community revolving around trading, with its Telegram and Discord organizing regular contests.
The winners of these trading contests – which center on making the biggest gains – will receive rewards in the form of $MAXI, something which will boost ownership and engagement with the token over time.
The project will also maintain a Maxi Fund, which is 25% of MAXI’s 150.24 billion supply, and which it will use to support new partnerships and promotional drives.
This should help Maxi Doge to quickly become one of the biggest new meme coins in the market, with investors able to join its sale by going to the token’s official website.
Participants can buy the token by connecting a compatible wallet (e.g. Best Wallet), with $MAXI currently selling at $0.0002545.
Visit the Official Website Here
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