When you have 100,000 Cardanos, you will get $1 million

In this bull run, if ADA surges by 2,054%, an investor holding 100,000 Cardano tokens will become a millionaire.
Despite Cardano’s retracement to a four-month low ten days ago, it still maintains its position as one of the most important cryptocurrencies. On May 1, when Bitcoin dropped to $56,555, ADA fell to $0.4195.
Although Cardano briefly recovered from a major crash, its trajectory remains disappointing compared to its performance in the first quarter of this year. Despite this, ADA remains the most popular digital asset in the cryptocurrency market, with many investors viewing it as their potential opportunity to become millionaires.
Therefore, it is crucial to understand the price targets that could turn Cardano holdings into a million-dollar portfolio. We recently assessed the prospects of a wallet holding 100,000 ADA becoming a millionaire in this bull run.
When 100,000 Cardano Becomes $1 Million
Currently, ADA is trading at $0.4642. Based on this value, wallets holding up to 100,000 Cardano tokens currently have a balance of just $46,420, a far cry from the coveted $1 million goal.
To boost this portfolio to a million-dollar fortune, ADA’s market cap would have to grow by 2,054%. This massive percentage increase means that Cardano would have to grow more than 20 times from its current price of $0.4642 to $10 for 100,000 ADA tokens to be worth $1 million.
Can Cardano reach $10?
As mentioned above, Cardano still has a long way to go before it can reach the $10 milestone.
The feasibility of this is debated among market analysts, but the possibility remains uncertain, especially considering that ADA has never come close to such a threshold.
In the last quarter, ADA reached a high of $3.10 but is currently down by 85%. Basically, reaching $10 is uncharted territory for Cardano.
Meanwhile, ADA has not been able to reach its target of $1 during its bull run over the past seven months. However, this has not suppressed optimism about its potential to reach unprecedented price levels in a full-blown bull run.
Market observers like Ali Martinez, who sees the possibility of reaching $10 within the next year, base their opinion solely on Cardano’s history.
It is worth noting that after the 2017 surge, ADA continued to trade at low prices for a period of time before rebounding at the end of 2020. In September 2020, the ADA price was $0.08, but by February 2021 it had surpassed $1. It continued to rise to $2.3 in May 2021 and reached its all-time high of $3.10 on September 2, 2021.
This trajectory represents a growth of over 3,700% from the $0.08 low in September 2020 to the high a year later.
If Cardano follows the same path, the price could approach $20. However, the likelihood of this happening remains uncertain.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article may contain the personal opinions of the author and do not necessarily reflect the views of The Crypto Basic. Readers are encouraged to perform adequate research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.