Can $1000 Cardano Make You a Millionaire as Charles Hoskinson Predicts Crypto to Beat SEC?

Cardano has been one of the most successful cryptocurrencies since its launch in 2017. It was backed by a massive community with a wide range of use cases. However, the ongoing SEC crypto crackdown affected the platform tremendously after it labeled it as a security. It exposed the nature of crypto assets, leading to massive losses for Cardano and numerous other altcoins.

Cardano's founder, Charles Hoskinson, is now trying to bridge the gap with the XRP community, hoping to revive the dying platform after criticizing them for online trolling in the past. Will his effort lead to a price boost for the ADA token? Let's dig deeper and see.

Cardano Founder Charles Hoskinson Settling Differences with XRP Community

As mentioned above, the founder of Cardano is now actively trying to find a way to resolve the feud with the XRP community. ADA tokens depend on the XRP community, as that's where they get their utility from, and since Cardano is amid an SEC crackdown, they need all the help they can get.

For those who don't know, Charles Hoskinson was waging war with the XRP community that finally culminated in a public outcry that exposed how some members of the XRP community abused and bullied Cardano team members.

It seems that Charles has had enough of the back and forth between the two blockchains and is now looking for a way to make peace. He Tweeted about it on his official Twitter, surprising the entire crypto community.

However, many users think his public effort to improve things is simply a last-ditch effort to avoid public criticism and secure a more stable future for his platform.

Even though there are no details about the ongoing event, things will likely take a turn. Some XRP community members welcomed Charles's call for peace, understanding that the outcome of the SEC regulatory search will probably impact the entire cryptocurrency sector.

Charles Hoskinson Refutes SEC Allegations

According to Cardano's owner, ADA tokens can not be considered security. However, SEC, on the other hand, believes that ADA tokens are exactly that. Mr. Hoskinson is now doing all he can to prove that selling ADA tokens is not the same as selling security.

His main argument is that no ADA tokens were sold in the U.S. and that the original financing that helped create the blockchain came from Japan using vouchers later converted into ADA tokens. However, the SEC lawsuit against Coinbase and Binance states that ADA tokens were sold freely as an unregistered security.

SEC Uniting Cryptocurrency Platforms

The recent SEC anti-crypto lawsuits aimed against Binance, Coinbase, and platforms such as Ripple and Cardano are forcing the crypto community to unite and stand against the SEC together. Some of the most significant crypto stakeholders, including the Tron Network founder Justin Sun, expressed their public support towards Binance and Coinbase.

The crypto sector was even backed by Senator Cynthia Lummis, a professional crypto lawmaker, as she criticized the SEC for taking legal action against the world's leading crypto exchanges. No matter how hard the SEC tries to deter investors from these crypto platforms, the overall support keeps getting stronger. As many leading cryptos, including MATIC and ETH, lose value, ADA tokens are on a bullish run, gaining 2% in the same period.

Cardano Holders Unwilling to Sell ADA Tokens

The latest MVRV data shows that investors who bought ADA tokens in the past 30 days are looking at 24% losses if they sell their assets. Such a huge price drop is forcing token holders to wait until the storm passes. Cardano went through a similar situation in May 2022, and if the community manages to withstand the dropping pressure to sell tokens, ADA will likely have a positive price movement in the next few days.

Long Term Holders Demonstrate Resilience

The news about the SEC lawsuit and other issues surrounding crypto markets resulted in a huge sell-off frenzy that pushed ADA and other altcoins into a bearish market. However, long-term ADA investors are buying as many tokens as possible, planning to hold on to them until the next bullish phase. The sentiment among long-term investors shows that they are choosing to hold on to tokens rather than sell them at a lower price. The selling pressure is dropping, and everyone expects a comeback in the next few days.

Investors Move Their Capital To New Cryptocurrencies

While Cardano and other altcoins are facing huge issues and an uncertain future, there are plenty of new emerging cryptos that are yet to go on a bull run after reaching the markets. Here are some of the best options that will outperform Cardano in 2023 and result in massive gains for all early investors.

AiDoge - New AI-Powered Meme Generation Platform

AiDoge is a new meme coin platform that aims to become the next King of Memes." It focuses entirely on user engagement and provides an interesting meme-generation platform that uses artificial intelligence to pull relevant information from social media allowing users to create and share viral memes. After users provide keywords in the prompts, the AI will generate memes automatically.

The platform's official presale hit the hard cap of $14.9 million in about a month, and AiDoge made its first CEX/DEX appearances on June 19. According to the project roadmap, AiDoge will add more features, including a voting system, token staking for daily rewards, and more. $AI tokens are expected to explode and lead to 100x gains in the next few weeks, so make sure to invest to enjoy the highest returns.

>>>Visit AiDoge Site

Wall Street Memes - Emerging Meme Coin Backed By a 1-Million-Strong Community

Wall Street Memes is one of the most exciting new cryptos in 2023. It's a new meme coin platform created by the Wall St. Bulls Reddit community that has well over 1 million members across all social media. It's the same community that managed to push one of the wealthiest hedge funds out of business over the GameStop stock. They also created the Wall St. Bulls NFT collection that sold out for over $2.5 million in 30 minutes last year.

The platform is designed to make fun of large investors and to give the little guy the chance to earn big. The native token $WSM is currently available in presale and has already raised over $8.5 million in just a few weeks. If you invest in $WSM you will become a part of one of the most anticipated new cryptos on the market, so visit the official site and secure a spot among the earliest investors.

>>>Visit Wall Street Memes Presale

Launchpad LPX - All Web 3.0 Tools In A Single Crypto Trading Platform

Launchpad LPX is also a new crypto platform still available in presale. It's a crypto analytics platform that comes with a full set of tools and digital assets built using Web 3.0 technologies. Its primary feature is a Web 3.0 marketplace where users can trade anything from cryptos and NFTs, but also explore new Play-2-Earn games, follow the latest ICOs, and much more.

Everything is powered by the native $LPX token that works as the utility. The tokens are required to unlock the features you need, but you can also use them to get monthly paid subscriptions to get unlimited access to all available tools. $LPX tokens are still available in presale, so if you invest right now, you will likely get massive returns by the end of the year.

>>>Visit Launchpad XYZ Presale

ADA Token Price Predictions

After considering all of the factors covered above, Cardano Bulls predict that the ADA token will return to the $0.30 level in the near future. However, for that to happen, the ADA token must first break the $0.28 price resistance level, which will take work. Everything depends on 39.540 investors who bought over 880 million ADA tokens at a price level of $0.28. If ADA manages to beat the resistance level, it will likely reach the $0.30 price point.

On the other hand, if ADA tokens drop below the critical $0.25 support zone, and if the 31,000 holders who bought the token at $0.25 decide to sell to get even, ADA could drop as low as $0.20.

On June 16, ADA tokens lost 1.14% in the past 24 hours, about three times less than BTC and ETH lost during the same period. According to the most optimistic price predictions, ADA tokens could reach a maximum of $0.45 by the end of the year. However, that's yet to be seen.

Wrapping Up

Cardano is a crypto platform made according to the best industry practices, and its founder Charles Hoskinson is a well-respected name in the industry. The eco-friendly platform offers all kinds of potential and real-world use cases that will likely keep it a relevant crypto investment for a long time.

It's one of the most popular long-term cryptos on the market, but despite all that, investing $1000 in ADA tokens will not turn you into a millionaire any time soon. However, they could be an excellent short-term investment, but the outcome depends on the SEC lawsuit against Binance and Coinbase.

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