Cardano ( ADA ), the 7th largest cryptocurrency by market capitalisation , has ridden the wave of a sharp burst of activity in the cryptocurrency space and then some.
In lifting to $1.21 today (29 March) it has put on more than 28% in seven days.The total cryptocurrency market over the same period has grown 11%.
Should this trend continue it could mark the end of a long term bearish trend from a peak last September of $3.1.
Being a layer 1 protocol – that is, a base blockchain , which validates and finalises transactions without the need for another network – ADA faces fierce competition from other layer-1 protocols, such as ether ( ETH ), avalanche ( AVAX ), and solana ( SOL ) all of which have seen price surges over the last few days.
Can ADA outperform its rivals in 2022? Is it a good time to invest in cardano? What is a realistic target price?
Let’s consider the project’s fundamentals and latest news to get a clearer outlook on what might be a plausible cardano price prediction.
Cardano (ADA) price prediction: ‘People’s crypto’
According to Tim Harrison , marketing and communications Director at Input Output Global, there are over 500 projects built on the Cardano blockchain, from NFT collections to DeFi lending and new wallets.
Cardano community member Ed n’ ₳ltcoins, has tweeted lately that the cardano token ’s distribution is almost 90% retail, similar to bitcoin .He said that “distribution going into retail hands is growing.This trend is likely to continue.Cardano is the people’s crypto.”
Meanwhile, Dr Shweta, the owner and operator of two KiBloc Cardano stake pools (KIBC1 & KIBC2), said that the number of long-term cardano (ADA) holders grew by 32% in February 2022.
According to her latest cardano crypto price prediction, the ADA coin value could surge up to 25%, as large crypto investors accumulate their cardano holdings.
????Cardano price could jump up 25% — Dr.Shweta ???? (@Dr_shwetaPHD)
✅Large wallet investors increase their holdings of the [#ADA]
✅ [#Cardano] accumulation by whales is on, fueling a bullish outlook among investors.
✅Analysts believe ADA could regain lost ground with a 25% price rally.[pic.twitter.com/uy2zYUzxpm] [March 13, 2022]
Commenting on the coin’s future prospects, Mikhail Karkhalev, analyst at Capital.com, said that cardano investments should we considered with caution:
Karkhalev added that cryptocurrencies are currently less used as a hedge instrument and predicted that a bull market for cryptocurrencies, including cardano , can only be expected when the economic and geopolitical situation in the world starts to improve.
Cardano coin price prediction: Targets for 2022-2030
Is cardano a ‘buy’, ‘sell’, or ‘hold’? Short-term cardano price analysis from CoinCodex was neutral today (as of 29 March), with 24 indicators giving bullish signals and 10 bearish signals.
The 10- to 200-day simple moving averages and exponential moving averages , as well as the average directional index ( ADX ), Hull moving average ( HMA ), and volume-weighted moving averages (VWMA), were giving bullish signals.
The Williams percent range, the relative strength index (RSI) and the stochastic fast gave ‘sell’ signals.
Meanwhile, the moving averages convergence divergence (MACD) stayed neutral.
According to a short-term ADA crypto price prediction by CoinCodex, it could rise by around 3% to reach $1.25 by 3 April.
Meanwhile, several algorithm-based forecasting services gave bullish long-term cardano predictions as of 29 March:
– [WalletInvestor’s] ADA coin price prediction estimated the average price of ADA to reach $2.24 in 12 months’ time.Its five year ADA/USD forecast suggests that ADA could reach $6.39 by March 2027.
According to [DigitalCoinPrice] ’s ADA prediction, the cardano cryptocurrency could hit an average of $1.58 in 2022, $1.78 in 2023, $1.94 in 2024, $2.44 in 2025, $2.19 in 2026, $2.77 in 2027, $3.85 in 2028, $4.97 in 2029, $5.55 in 2030, and $6.39 in 2031.
– [PricePrediction’s] ADA price prediction was extremely bullish.It estimated that the average price of ADA could hit $1.15 in 2022, $1.62 in 2023, $3.56 in 2025, $21.35 in 2030, and $32.25 in 2031.
When looking for cardano price forecasts, bear in mind that analysts and algorithm-based projections can be wrong.
Their cardano future price expectations are based on fundamental and technical studies of a cryptocurrency’s past performance.Past performance is no guarantee of future results.
ADA/USD price analysis
ADA has performed strongly over the past few years.
It has yielded a ROI of 5,480% since its inception, according to CoinMarketCap statistics as of 29 March 2022.
Based on the earliest available price data, ADA traded sideways until November 2017.Then, its price spiked from $0.029 on 20 November to $0.119 on 28 November, an increase of 310% within a week.
The broader crypto market was bullish during this period.
The bitcoin ( BTC ) price spiked from $8,200 on 20 November to $10,058 on 28 November.ADA continued its bullish momentum and closed the year at $0.719.
The onset of 2018 was bullish for ADA.
It reached $1.11 on 4 January.However, the coin’s price collapsed to $0.028 on 14 December, a decline of more than 97% from January’s peak.It closed the year at $0.041, as of 31 December 2018.
2019 and 2020 were unremarkable years for cardano, with the ADA coin trading below $1.However, the broader crypto market regained its strength during this period.For instance, Bitcoin’s price spiked from $3,843 on 1 January 2019 to $29,001 on 31 December 2020, a more than 654% surge.
Cardano spiked in 2021.ADA coin value reached $1.48 on 15 April and surged higher to $2.30 on 16 May.ADA’s next bull run took it to the all-time high price of $3.10 on 2 September.A retracement then saw the price falling to $1.98 on 21 September and further down to $1.21 on 10 December.
It closed 2021 at $1.31.
Since the start of 2022, ADA’s price action has been volatile.First, it reached a 90-day high of $1.63 on 18 January amid the launch of SundaeSwap .Then it declined to a 90-day low of $0.75 on 24 February, as the broader cryptocurrency market crashed due to the Russia-Ukraine war .
At the time of writing (29 March), the ADA coin was trading at $1.21 and had a market capitalisation of $41.04bn.
What is your sentiment on ADA/USD?
Cardano crypto news and price drivers
Cardano has undergone a number of important milestones and developments lately, which may drive the cardano future price:
Launch of Fund8 via Project Catalyst
In March 2022, Cardano introduced Fund8 through its Project Catalyst platform.The Project Catalyst innovation fund enables Cardano users to obtain resources paid in ADA, and is utilised for protocol upgrades.The launch of Fund8 by Cardano Treasury will grant $16m for various initiatives.
Cardano said in an official announcement that certain issues had been identified, voted on, and will be funded to promote the developer and dApp ecosystem inside Cardano’s open-source framework.
Cardano for sustainability: One million trees planted
Cardano planted one million trees in partnership with Veritree, a Canadian reforestation company, in February 2022.Users gave 1 million ADA tokens to plant 1 million trees.
In exchange, each donor got a tree-planting certificate specifying the precise location of their trees and other information, such as the kind of tree planted.
Using Cardano’s on-chain metadata features, Veritree can easily capture and communicate GPS coordinates, pictures, and other unique elements of restorations.This data is traceable, permanent, unalterable, and available to the general public.
Cardano-based DEX SundaeSwap off to a bumpy start
On 20 January 2022, Cardano launched SundaeSwap, a decentralised exchange (DEX) built on the Cardano blockchain to facilitate liquidity on its network.
The price of ADA spiked to a high of $1.63 on 18 January, in anticipation of the event.
However, since the DEX went live, it has faced some bumps in the road.Users have complained that their transactions are failing on Twitter, and that they haven’t received their swapped tokens.
Swapping is now LIVE! ???????? — SundaeSwap Labs ???? (@SundaeSwap)
Head on over to and swap tokens, deposit liquidity, and enjoy! ???????? [$SUNDAE] Token Policy ID: 9a9693a9a37912a5097918f97918d15240c92ab729a0b7c4aa144d77 [#Cardano] [#SundaeSwap] [pic.twitter.com/jhLK6F8PuJ] [January 20, 2022]
[developers said] : “We want to inform you all that while orders (including swapping, providing liquidity and withdrawing liquidity) may take days to process, everybody’s orders will be processed fairly and in the order they were received and executable.”
The team assured the congestion was temporary: “Although we expect this backlog during the first days of the protocol, we’re very confident that the protocol can meet the normal day-to-day load once things settle down.”
Partnership with EMURGO
[collaborated] with EMURGO on 17 January 2022 to stimulate the creation of a community-generated and maintained tool stack to assist the Cardano ecosystem and speed the development of
[decentralised applications] .
This update broadens the range of possibilities that are accessible to developers for developing solutions on Cardano, and enables the creation of diverse apps by third parties.Additionally, it will support industry standards for infrastructure powered by smart contracts .
Launch of Djed stablecoin on COTI network
Hoskinson and Shahaf Bar-Geffen, CEO at COTI Group, revealed during the Cardano Summit in September 2021 that the COTI platform will be the official issuer of Djed, a new Cardano stablecoin .
Djed is an algorithmic design that uses smart contracts to assure price stability and stablecoin’s efficacy in decentralised finance (DeFi) transactions.
Investment of $6m in African economy
In September 2021, the Cardano network invested $6m to support and finance the African continent’s most creative blockchain start-ups.
Cardano said this initiative could level the global playing field in creating game-changing blockchain-based products and services between Africa and the West.The fund sought to provide funding to the most creative African start-ups desiring to build on Cardano.
IOHK guaranteed that successful ventures received training, finance, and ongoing support.
What is an ADA coin?
Cardano is a decentralised blockchain platform that employs a proof-of-stake consensus algorithm and focuses on smart contracts and security.It was founded in 2017 by Charles Hoskinson, the co-founder of Ethereum, and Jeremy Wood, both experienced developers in the cryptocurrency space.
[documentation] : “Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed and will serve as a stable and secure platform for the development of enterprise-level
[dApps] .”
Cardano’s unique proof-of-stake algorithm is called Ouroboros , which the network claims is one of the most energy-efficient and secure algorithms currently available.In addition, the protocol offers increased bandwidth and can process a significant volume of transactions without compromising network speed.
Cardano is working on Hydra , a multi-headed scalability protocol, which will allow the functioning of numerous side chains.A sidechain is a distinct blockchain linked to its parent blockchain by a two-way link, allowing assets to be exchanged between the parent and sidechain.
ADA is the Cardano network’s native currency.It is used to pay fees, make deposits and issue rewards, and for staking .
A strong development team and community support Cardano.Input-Output (IOHK) is the technology company behind the network and responsible for developing the Cardano platform.
At the same time, EMURGO focuses on building partnerships and supporting businesses that want to use Cardano’s technology.
On 1 February, IOHK announced it would increase the block size by a further 8KB, taking it to 80KB, to increase the network’s capacity.In addition, it revealed its proposal to increase the Plutus (the smart contract language) script memory units per transaction on the Cardano mainnet from the current 12.5 million to 14 million.
Note that it is important to do your own research and always remember your decision to invest in cardano or any other coin depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio and how comfortable you feel about losing money.You should never invest money that you cannot afford to lose.
FAQs
Cardano (ADA) is a layer 1 blockchain protocol for dApp development and the seventh-largest cryptocurrency project by market capitalisation (as of 29 March).
However, since the start of 2022, its price action has been very volatile.
Whether the ADA cryptocurrency is a good fit for your investment portfolio depends on your circumstances and risk tolerance.You should consider the level of risk you are ready to take before investing, and never invest any money you can not afford to lose.
There were 33.73 billion ADA coins in circulation as of 29 March 2022, out of a maximum supply of 45 billion, according to data from CoinMarketCap.
According to a cardano price prediction from WalletInvestor, ADA can reach $2.24 in 12 months’ time.
Algorithmic forecasting tools, including WalletInvestor, DigitalCoinPrice and PricePrediction (as of 29 March) suggested that the coin has the potential for gains.PricePrediction estimated that the ADA coin could exceed $10 by 2028.
Cardano’s blockchain is used to construct smart contracts, which can then be used to develop decentralised apps and protocols..
