3 reasons this low-cap Cardano altcoin is primed to grow parabolic, says top trader Ben Armstrong
Popular trader Ben Armstrong from BitBoy Crypto shares with his subscribers a low-cap altcoin that is expected to be the number one DEX on Cardano network and pump to the moon.
Adax (ADAX) is a state of the art next gen DEX and liquidity protocol offering seamless trades within the Cardano ecosystem and beyond all in a completely decentralized non-custodial way. As Armstrong says, before deciding to build on the Cardano blockchain, the team’s vision was a fully optimized cross-chain exchange.
Adax price catalyst
According to the trader, there are 3 main reasons that set Adax apart and would push it to become the best DEX on the Cardano network. The first reason is its compatibility with Ethereum-based ERC-20s, the de facto industry standard so far:
“By harnessing IOHK’s Cardano-Ethereum bridge on ADAX, issuers and token holders can migrate their tokens to and from the Cardano network. And it couldn’t be easier. With just a few simple clicks, they’re instantly translated into a native token of the same value that works in the exact same way. Best of all, this isn’t a one-way street. It’s a two-way solution. Meaning users can move their tokens back to the source by simply burning them on the network.”
Secondly, Adax is also making full benefit of some new and innovative models to address dynamically fluctuating ratios in liquidity pools, and liquidity stress. Importantly, it is taking fees to all-time lows.
Lastly, the crypto KOL points out Adax’s UI appearance is seamless, easy-to-use, and having amazing features to boot:
“To compete for top DEX status in this day and age, having a good personality isn’t enough. You’ve also got to be pretty on the outside. Well, luckily for ADAX, their UI looks as good as any Lambo.”
He adds:
“Not only that, users can benefit from invaluable data like TVL, easily add liquidity to available pools, and thanks to ADAX’s partnership with StockGeist.ai, they’ve integrated a built-in social sentiment feature, providing real-time data from social media to show which tokens and pairs are gaining traction or losing steam. I mean, if the aim was to become the DEX of choice on Cardano, then this is to Uniswap what Netflix was to Blockbuster.“
Adax price potential
At the time of the video, Adax was trading at $0,87, almost 70% down from its ATH of $2.41. The current market cap for ADAX is only $58M.
Armstrong expects ADAX to see its price momentum in the upcoming weeks as more listings with gem specialists KuCoin and Bitrue are coming, pushing the price back to its ATH of $2.41.
Moreover, as ADAX first DEX on Cardano to release a token, and with low fees, interoperability, and that seamless user-friendly UI, the trader expects mass adoption of this DEX is inevitable and the price can further rise at least 20x.
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