Two months ago, we came upon a raging debate on Cardano dApps on Reddit.The rant was about the delay on any news about that topic.Did the concurrency problem get resolved? If yes, why are there no functioning DEXes on Cardano yet? Can someone from the Cardano community enlighten us, please? So, the rants go.
The live Cardano price today is $0.818588 USD with a 24-hour trading volume of $770,482,679 USD.Cardano is down 4.43% in the last 24 hours.The current CoinMarketCap ranking is #8, with a live market cap of $27,565,491,376 USD.It has a circulating supply of 33,674,435,777 ADA coins and a max.supply of 45,000,000,000 ADA coins.
Let’s see the potential of the Cardano blockchain network and why you should consider the ADA token for your portfolio.
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 https://www.cryptopolitan.com/cardano-founder-tesla-should-accept-ada/ .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 public’s increased interest 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 September 13, 2021, which might lead to a surge in Cardano prices.
Cardano overview
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, enabling 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.
Recently, Cardano has partnered with Nervos token along with the integration of Marlowe on Cardano blockchain that can come in handy for trading ETFs.
Cardano accelerating in NFT space
Cardano-based NFTs are quite popular nowadays because of the surge in Ethereum gas fees.
The rising congestion and gas fees make the Cardano ecosystem most suited for NFT tokens.Recently, we have seen a lot of partnerships between Cardano and NFT artists.
DJ Paul Oakenfold, a Grammy winner EDM artist , has teamed up with Cardano to launch his next album as NFTs.
The digital asset album will be based on the Cardano blockchain and is named “Zombie Lobster.”
The plan is to focus on new NFT projects on Cardano, and therefore, Starship Universe, an NFT project, deserves a special mention.
This project is being managed by Alon Shulman, who has partnered with Cardano to release thousands of NFT tokens under this new project.
Cardano Compatible Wallets
There are available wallets to store your Cardano crypto assets; to do that, you need to have at least one of the following wallets;
ADA Price History
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 and started increasing again in late 2020, finishing the year at $0.19.
The crypto rally at the beginning of 2021 had seen the value of Cardano cryptocurrency increase greatly, too, reaching an all-time record 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 September 2, 2021, the Cardano (ADA) price reached a new ATH or all-time high at $3.10 and has been the best-performing coin in the crypto world along with Solana, Algorand, Luna, and Tezos for the past month, experiencing a bullish trend.
Cardano Price Prediction 2022
The analyst at Investing Guide Youtube channel has a rather bullish perspective of Cardano price for the next 5 years.While the altcoin is way far from its $3 all-time peak, it is possible that the bulls will retest that area by the second half of 2022.
A steady increase in the price of Cardano could occur over the next nine years.Cardano’s progress is expected to be persistent and arithmetic.While there might be big breaks along the way, things will likely return and stay within this range.
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.
ADA token could be worth as much as $7.96 by the end of 2022 and even make a more outrageous prediction that it would be worth $8.43 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.
An interesting idea is by Viktor Vladzimirovich
In mid-December, the cryptocurrency bounced off the key support at 1.19738300, which contributed to the price exit from the downtrend channel , which began to form in November.The target at the moment for ADAUSD is located at the level of 1.85712240.But there is a prospect of growth to 2.25375150 and even higher.Below is a weekly chart showing a possible “head and shoulders” reversal pattern that is in the process of being formed.
Source: TradingView
According to Cryptopolitan , Cardano is bullish after regaining the top 5 altcoins position by market cap.
A rise of 10 percent was recorded yesterday.Therefore, as long as ADA/USD continues to respect the $1.40 support, we can expect another push higher to follow.
Source: TradingView
Cardano Price Prediction 2023
According to Cryptopolitan, this will be the third-generation crypto to overcome other currencies’ problems.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).
The long-term Cardano forecast sees the token would reach $7.050 by 2023 December.
Digital Coin also predicts an increase in the price of the token and expects it to be worth $3.43 in 2022 and reach $3.84 by 2023.
Cardano Price Prediction 2025
In 5 years or more, Cardano might achieve greater victory as many partnerships and integrations are 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.
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.
How to buy Cardano
If you are looking for places to buy Cardano (ADA), one of the best places you get it is Binance .
Other good exchanges for Cardano include Coinbase , Sofi, https://etoro.tw/2NCmdEO , etc.
If you are looking to buy, you just need to do the following:
Step 1: Set up an account on https://www.cryptopolitan.com/news/binance-bnb/
Step 2: Buy Bitcoin, Ethereum, or Binance coins so you can exchange them for ADA
Step 3: Exchange Bitcoin, Ethereum, or Binance coin for ADA using Binance exchange
Final verdict
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 2022..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 an average price of $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.
FAQs about Cardano
Is Cardano a good investment in 2022?
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.
While regarded as an Ethereum killer by many, this is extremely unlikely.In my own opinion, Cardano will create its own niche within the global blockchain ecosystem, but fail to flip Ethereum’s ecosystem.Nonetheless, if you are bullish on cryptocurrencies in general, then it makes sense to invest in Cardano.Also, if you own Ethereum tokens, then Cardano is a good hedge that will likely offer more profit.It is a win-win.
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.
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.
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.But it is also important to do your own research as our opinions expressed in this article give only a glimpse of the Cardano prediction.But, a long-term increase and all-time highs indicate bullish momentum for the current 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 in the crypto space.
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.
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