Here’s Why the Cardano Price Has Pumped Over 20% In A Day As TGC Token Also Sees Bullish Growth

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Here’s Why the Cardano Price Has Pumped Over 20% In A Day As TGC Token Also Sees Bullish Growth – Crypto News

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1 year ago

December 9, 2023

Dripp

While the crypto market is experiencing massive bullish momentum, Cardano stands out as a top performer after pumping over 20% in the last 24 hours. It is priced at $0.59 and up 61% this month and 88% this year.

Meanwhile, TG Casino also looks primed to explode after its presale surges past $3.6 million.

Cardano Surges as Market Anticipates Unprecedented Adoption

Dan Gambardello says the Cardano ecosystem may be primed to experience its first-ever bull run.

The analyst backs the blockchain for immense success over the next 1-2 years, comparing its ecosystem to Ethereum’s pre-2020 bull run.

Dan highlighted that the top 20 Cardano ecosystem tokens have a combined market cap of $850 million, whereas Ethereum’s top 20 tokens have a combined $235 billion market cap.

He suggests a conservative estimation would be for Cardano’s tokens to reach a combined $100 billion valuation in the upcoming bull run, referring to the blockchain’s decentralization and security advantages as reasons it may explode.

Popular influencer SlumDOGE Millionaire is also bullish on the Cardano ecosystem, predicting that many projects could 100x or higher in the bull run.

Many critics have referred to Cardano as a “ghost chain” in the past, implying that the network lacks adoption. While this criticism has been somewhat valid, it is simply due to Cardano’s novel technology, which led to slower adoption.

However, the Cardano main net has seen significant growth recently, causing its TVL and stablecoins market cap to spike. This growth in liquidity inflows is a product of a network effect caused by its growing ecosystem and increasing utility.

Meanwhile, the daily number of new Cardano wallets has also steadily climbed since August.

Ultimately, the reason for Cardano’s pump is that traders believe it has much more room for growth due to its growing ecosystem. The market’s bullish sentiment can also be seen in Cardano’s social metrics.

Crypto analytics data provider Santiment recently tweeted that Cardano’s social discussion score is at a six-month high. The tweet also noted that this likely means “FOMO is kicking in,” warning traders to “proceed with caution.”

Given that it has already moved significantly, Cardano may be due for a cooling-off period before a trend continuation.

Liquidity will likely cycle into other altcoins, potentially with smaller market caps. This could cause even more parabolic pumps for these cryptos.

One of the cryptos backed for the strongest performance is TG Casino, a trending presale already experiencing significant adoption.

Telegram-Based TG Casino Surges Past $3.6M After Announcing 2450 Active Players

TG Casino is a Telegram-based casino offering users secure, KYC-free gambling. It taps into the promising Telegram-web3 narrative, which has recently seen countless cryptos like Toncoin explode.

Meanwhile, crypto casino projects are also experiencing immense demand thanks to their advantages over legacy casinos.

Yet, launching on Telegram provides TG Casino with added benefits like a seamless user experience, end-to-end encryption, and access to the platform’s one billion users.

The project is also one of the only licensed Telegram-based casinos, and it recently passed a team-KYC audit and smart contract audit.

TG Casino is currently undergoing a presale, with the $TGC token providing significant benefits like 25% cashback on losses, free rewards, up to 200% rakeback, access to exclusive games and rooms, and more.

It also features a buyback mechanism that will repurchase $TGC tokens from the market with a portion of the casino’s revenue. It will burn 40% and allocate 60% to staking rewards.

The team also recently announced there are over 2450 active players on the platform who have wagered over $30 million, with $3.7 million in net deposits. This illustrates significant demand for thanks to the outstanding value the platform provides.

So far, the presale has raised over $3.7 million and is gathering significant momentum, with the team recently noting a 14 ETH investment worth $31K.

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