While he acknowledged ADA’s two-year-long bearish market conditions, the analyst believes that, like Amazon, Cardano has the potential for long-term growth. Since both entities’ technology differs with varying achievements, he compared the underlying principles and price action.
Similarly, ADA’s value, which rose above $3 during the bull market in September 2021, has now plummeted to 25 cents. Therefore, the analyst likened buying ADA in 2023 and acquiring Amazon stocks in 2001.
This is particularly true given Cardano’s growth potential in the financial market. Moreover, Gambardello forecasted that Cardano (ADA) could become the world’s number one financial operating system.
In addition, he mentioned that currently, ADA’s market cap is approximately $8.9 billion. That is even 90% higher than Amazon’s market cap of $2.2 billion after a similar crash in 2001.
In his comparison, Gambardello drew similarities between ADA’s current position and Amazon’s during the downturn. He noted that Cardano Blockchain is more robust and better than before, citing improved smart contracts, scalability, and staking utility.
The crypto analyst emphasized that Cardano is in the initial stages of user adoption, with several developers building on its network. It is similar to Amazon’s commitment to enhancing customer experience, which fueled its long-term growth.
Again, Gambardello shifted focus to Cardano’s security and decentralization. He explained that Cardano’s robust security and decentralization give it an edge over other blockchain networks like Solana.
In conclusion, the analyst said Cardano has numerous unexplored potentials with striking similarities to Amazon’s early days. Therefore, he is confident that Cardano has a high potential for long-term success and could offer massive returns to investors bullish enough to see it.
