Can Cardano Reach $1?
It has been a frustrating year for Cardano (CRYPTO: ADA) investors. After soaring to $0.45 in mid-April and largely keeping pace with the performance of Bitcoin, Cardano is back almost to where it started at the beginning of the year. Trading at just $0.26, Cardano is now up only 7% year to date.
For Cardano to break the $1 mark and nearly quadruple in value, a lot obviously has to go right. There are two factors especially that could determine whether Cardano bulls finally get rewarded for their patience.
The first key factor, of course, is the increased level of regulatory risk now facing Cardano. Back in June, the Securities and Exchange Commission (SEC) named Cardano as an unregistered security in its court cases against cryptocurrency exchanges Coinbase Global and Binance. The news came as a shock to the market, and the price of Cardano promptly fell off a cliff.
Source Fool.com
Coinbase Global Inc. Stock
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