Lark Davis forecasts Cardano could reach $2 on community strength
Cardano (ADA)
Editor:
Eugene Serbin
digitaltoday.co.kr reports that market analyst Lark Davis believes Cardano could rise to $2, citing the project's strong community cohesion. Davis noted that ADA’s price movement may depend on sustained interest rather than current network usability metrics. The report highlights that ADA is trading around $0.242, requiring a 726 percent increase to reach the $2 target.
At that price, the market capitalization would reach approximately $73.6 billion based on a circulating supply of 36,780,000,000 tokens. Davis emphasized that he does not view network utilization and token price as necessarily moving in the same direction. This optimistic view contrasts with his recent criticisms of Cardano’s low transaction counts and fees compared to Solana.
He previously described the ecosystem as a "ghost town" despite eight years of development. In an update, Davis stated, "#Cardano's got enough of a cult following, it probably gets back to $1.00, maybe even $1.50, $2.00." The forecast is presented as a long-term recovery scenario rather than a short-term technical target. ADA remains more than 92 percent below its all-time high of $3.10 set in September 2021.
How the market reacted
Whalio's own Binance spot order flow for ADA, measured when this story was written up on 30 September 2026. Not the outlet's figures.
Whalio spot data shows ADA trading at $0.2445 with a 24-hour buy ratio of 51.1 percent, indicating a slight majority of buyers. The 1-hour buy ratio sits at 40.2 percent, suggesting immediate selling pressure, while the 4-hour ratio is 49.7 percent, showing near parity. Volume delta reflects this divergence, with a negative $899,765 in the last hour but a positive $904,189 over 24 hours. This means that while short-term traders are selling, cumulative buying has outweighed selling over the full day. The 24-hour cumulative volume delta closed at -$459,799, indicating that despite higher buy ratios, aggressive selling has erased net gains. Net buying occurred for 11 of the 24 hours, with spot volume reaching $42,122,115 across 218,230 trades.
The latest daily buy ratio of 45.6% sits at the 5th percentile of the last 322 days, against a median of 49.2% - among the weakest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for ADA, averaged over the days leading up to the story.
Over the preceding week, the 7-day average buy ratio was 50.3 percent, with the latest day showing a marginal increase of 0.7 points. Volume for the day was 0.81 times the weekly average, indicating lighter trading activity than usual. The coin experienced a price change of -3.9 percent over eight days, with a total volume delta of +$2,738,826. Net buying occurred on 4 of the 7 days, suggesting inconsistent accumulation. This day is slightly more bullish than the weekly average in terms of buy ratio but trades at lower volume, marking a quiet but balanced session.