What is Cardano?
Cardano is the habitat for the ADA cryptocurrency, which is mainly used to send and receive digital funds, making direct transfers fast and possible through the use of cryptography.
More than being a cryptocurrency, it is a technological platform that helps run the financial applications used by individuals and institutions worldwide. The platform is being constructed in layers that allow for upgrades of a soft fork.
Cardano blockchain also runs decentralized applications and services which are not being controlled by any third parties. This is the first blockchain project designed by a global team of engineers and can be implemented on mission-critical systems such as aerospace and banking applications.
Cardano is one of the biggest cryptocurrencies in the entire world, and so, in this article, we will discuss Cardano’s price and future possibilities.
The Cardano Foundation has also declared the launch of the final version of the Alonzo Testnet which will be featuring smart contracts on the platform. The new upgrade is termed Alonzo White and with this release, investors are attracted to Cardano. Along with this, the coin was also added to the Grayscale Trust and there are plenty of supporters of Cardano like eToro.
Owing to the increased interest of the public in Cardano and smart contracts, the organization behind the currency, Input Output Hong Kong has spun up the Alonzo Purple testnet. The onboarding process has already been initiated and once done, the testnet will be made live.
It was created by Charles Hoskinson, ex-Ethereum Co-Founder, and is considered a third-generation blockchain behind the likes of Bitcoin and Ethereum. It was launched back in 2017 to compete with ethereum.
The coin took over the number three spot after Ethereum after blockchain technology company IOHK developers of Cardano ADA announced the date for the Alonzo hard fork on the Cardano mainnet. Alonzo became live on the Cardano network on 13th September 2021 which might lead to a surge in Cardano prices.
|CardanoADA||ADA||$ 2.23||$ 67.60 B||2.28%|
Projects involving Cardano
Cardano has been involved directly or indirectly in several projects since its launch. In April 2019, The company behind the Cardano Blockchain, IOHK, also launched Atala, which is an enterprise blockchain framework designed for the Ethiopian government and other African countries. Later on, in September of the same year, Cardano entered into a partnership with the athletic wear company, New Balance which will enable the company to use the blockchain to detect fake footwear.
In 2020, IOHK launched Project Atlas and Project Catalyst. The goal of Project Atlas was to improve users’ experience on the Cardano platform through services integration and more accessibility to its tools and products. Project Catalyst, on the other hand, sought to accelerate community innovation and develop on-chain governance.
In order to understand the Cardano Price Forecast, it is imperative to look at the price history.
Before its launch in 2017, ADA coins were already on sale as far back as 2015, and sales continued till January 2017, after which it was launched. Its first rise in price was in January 2018, when it reached a record high of $1.31, a result of the cryptocurrency rally.
The price soon dropped to $0.15 by April, and by the end of the year, it was worth $0.04. it was worth only around $0.10 in 2019 started increasing again in late 2020, finishing the year at $0.19.
The crypto rally beginning of 2021 had seen the value of Cardano cryptocurrency increase greatly, too, reaching a record all-time high of $1.49 by February 27, 2021. But, this was just the start, and ADA prices kept increasing.
Later, in the month of May, a price of $2.46 was reached by ADA, and this was an all-time high. Thereafter, it continued to maintain its price within the range of $1.20 – $2.
On 2nd September 2021, Cardano reached a new all-time high at $3.10 and has been the best-performing coin with Solana, Algorand, Luna, and Tezos for the past month.
Technical analysis of Cardano Price
From the above analysis, it is clear that the pair ADA/USDT was able to attain a price of $2.12. It is clear from the 4-hour chart ADA/USDT price is below the 50-day MA and the 100-day MA.
For now, the bulls have seemed to have slowed down. The overall Cardano price action still trades with a bearish price action momentum. This fact will be incorporated in the Cardano price predictions. This can be a good time to buy Cardano.
Cardano(ADA) coin price prediction for 2021
There have been various views on how much Cardano could be worth by the end of the year, and here we examine the Cardano predictions. According to Wallet Investor, the ADA coin will jump in the price of $3.09 at the end of this year, and $4.59 by September 2022. Within 5 years from now, it will be worth about $13.9.
Digital Coin believes that ADA price will increase significantly over the coming years and its Cardano USD predictions put at an average price of $3.14 for 2021. In a matter of 5 years, the coin will reach $6.26.
Previsioni Bitcoin predicts that Cardano could be worth as much as $10.81 by the end of 2021 and even make a more outrageous prediction that it would be worth $13.04 by April 2022. While this seems impossible considering its current price, the cryptocurrency market has been known to be unpredictable, and anything can actually happen.
On the other hand, LongForecast predicts a range of $1.65-$1.89 by the end of 2021 which is bearish as compared to other analyses.
ADA price prediction 2023
According to Cardano, this will be the third generation crypto to overcome the problems other currencies have encountered. It was designed to offer fast transfers as well as a platform for financial applications. The Basho and Voltaire phase is likely to get introduced officially, which is akin to contributing to the overall performance, scalability, and security of Cardano(ADA).
Wallet Investor also has a long-term Cardano forecast where it sees the token would reach $8.153 by 2023 December. Digital Coin also predicts an increase in the price of the token and expects it to be worth $3.87 in 2022 and reach $4.34 by 2023. Previsioni Bitcoin is optimistic in its predictions as it expects Cardano to reach $8.70 by April 2023 and by December of 2023, 11.03 USD.
Cardano price prediction 2025
In 5 years or more, Cardano might achieve greater victory as there are lots of partnerships and integrations planned down the line.
This is going to impact ADA positively for the longer term. Cardano might even go up the ranking order and establish itself as one of the top 10 cryptocurrencies in the world.
By 2025, Cardano might reach $5. It can even touch the $10 mark. In the next five years, by 2025, Longforecast expects that the asset would be trading in the range of $1.13-$1.40. Digital coin sees Cardano reaching $8.28 in 2027 while another ADA coin price forecast predicts it will be worth $9.38 in 2028.
Adam Web, the author of Smartereum, believes that ADA has a bright future and expects that it will be worth about $10 in the next five years. Cryptoground.com predicts that the price of Cardano will reach $3.1740 in 2022, and by 2026, it would be worth $5.6725.
General cryptocurrency price prediction
It is impossible to rely solely on price predictions to determine how much a virtual currency will be worth in the next few years, but it can give a good idea. That is why we will look at other cryptocurrencies and their prediction.
One of such is the tokenized oracle network, chainlink. Looking at chainlink price prediction, there is a chance it could finish 2021 at an average of $34.498, as said by a wallet investor.
Another cryptocurrency worth reviewing here is Tron. Tron’s price prediction shows its expected maximum price is $0.153 by the end of the year. Ripple XRP is also one of the top cryptocurrencies by market cap. Although faced with an SEC lawsuit, at the end of the year, it is expected to reach $1.7.
Bitcoin price prediction believes it could reach $100,000. Its closest counterpart in terms of value and market capitalization is ETH which is currently above 3k USD. Experts believe that Ethereum price could reach $4000 very soon by the end of the year. Ethereum price prediction is generally optimistic, with Wallet Investor even predicting that it will trade around $ 4055.760 by the end of the year.
Final verdict on Cardano price
Due to the current crypto bearish run, Cardano, like all other altcoins and cryptocurrencies, has seen a significant fall in value. If the current predictions are anything to go by, there is huge room for more improvements. Most predictions point to a more increase, with the most ambitious prediction claiming it could reach $5.9 by the end of 2021. While this might seem outrageous, we believe that the price could inch close to $5 this year alone. Unless something totally disastrous happens, we don’t expect to finish the year at anything below $1.
On a long-term basis, we believe that the coin could finally reach $5 latest by 2023, and we see it reaching $10 by 2025. This is not to say the road will be completely smooth as we expect it to alternate between highs and dips within this period, but the chances of achieving $5 are more than likely.
However, the crypto market generally would have to remain favorable and what this means mostly is that bitcoin will maintain its value. The value of other cryptocurrencies depends greatly on the shifts in the bitcoin price trend, as we have seen so far, and it is very likely that this will remain so for some time.
What makes Cardano a good investment
If you are planning to invest in Cardano, you will most likely be wondering whether it is worth it and if it is a good investment. If we are to judge solely by the growth in the price over the past few years, Cardano is a great investment because it is more likely to increase significantly in the next few years.
The fact that it is similar to Ethereum and shares similar functionality means it has lots of growth potential.
The low cost of Cardano means there is potential for growth and cost less to acquire more coins as compared with other coins. Cardano offers security and scalability through layered architecture, which makes it unique and special.
Cardano is one of the best-performed cryptocurrencies with good potential. However, this should not be taken as investment advice, and if you’re thinking of investing, it’s always recommended to do thorough research before making any such decisions.
Frequently Asked Questions (FAQ)
Will Cardano ever reach $10?
It might take some time, but Cardano’s price can reach that value if the developments happen as per the Cardano roadmap, and it is likely to do so in the next five years.
Cardano price prediction: Can Cardano hit $100?
Yes, Cardano’s price can reach $100. The real question should be how long would it take the currency to reach this number. Using an analysis of the current price, it is crystal clear that the digital currency would not be reaching $100 anytime soon. At least not in the next life to ten years.
Does Cardano have a future?
Cardano ADA cryptocurrency has seen significant gains in the 2021 market, which has seen it rise in value. This was mostly due to the crypto bull run and the emergence of DeFi. At the same time, most of the DeFi applications have been running on its competitor, Ethereum blockchain. Cardano still has significant potential, and with its continuous development, it can become a force to reckon with in due time.
What makes Cardano special?
Cardano is the only peer-reviewed blockchain project. In simple terms, what this means is that academics reviewed its code to determine its validity and scalability. Its layered architecture also makes it incredibly safe. The three qualities that make Cardano truly special are its scalability, interoperability, and sustainability. It has a long-term goal of becoming the High Assurance Code, and according to the founder, the high level of the code maintains the integrity of the platform and will prevent a situation like the ETH-ETC split.
What price will Cardano reach?
There are several views on how much Cardano will be worth in the coming years. With the current state of the market, which has seen an unprecedented rise in the value of all cryptocurrencies in general and led by Bitcoin, every coin price prediction for the crypto asset points to a positive year. If the crypto market bull run should continue, there is no doubt that ADA price will also benefit from it and rise.
Most crypto experts believe that it may reach $5 by the end of the year. On a more long-term view, it is expected that ADA coin can reach $10 by 2030. Some believe 2030 is too far and will achieve this by 2025. However, the known fact is that all cryptocurrency price predictions are only that predictions. The market is a volatile place and could shift anytime.