Cardano price prediction: will ADA go up to $10?

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The price of the ADA coin, which runs on the Cardano blockchain, has been trending higher in the past two weeks, gaining 40% as the cryptocurrency markets have started to rebound from a collapse in May.The Cardano blockchain has been undergoing upgrades this year to add new functionality, including native assets and tokens as well…

The price of the ADA coin, which runs on the Cardano blockchain, has been trending higher in the past two weeks, gaining 40% as the cryptocurrency markets have started to rebound from a collapse in May.The Cardano blockchain has been undergoing upgrades this year to add new functionality, including native assets and tokens as well as smart contracts.What will this mean for the Cardano (ADA/USD) forecast? In this article, we look at the cryptocurrency’s recent developments, and the latest ADA predictions for the direction of the price for the remainder of the year.Cardano poised to add smart contracts Launched in 2017, ADA is the world’s fifth-largest cryptocurrency, with a market capitalisation of $44.34bn as of 6 August.It was developed by Hong-Kong based blockchain infrastructure firm Input Output (IOHK), which was co-founded in 2015 by Ethereum co-founder Charles Hoskinson.

The Cardano blockchain is one of the biggest to use the proof-of-stake (PoS) consensus algorithm, which other blockchains such as Ethereum are now adopting.Like Ethereum, Cardano is in the process of going through a series of upgrades.

The Mary hard fork, which went live in February, allowed users to create custom assets such as native coins and non-fungible tokens (NFTs).The date for the Alonzo hard fork, which will introduce smart contracts, will be announced in mid-August, Hoskinson said in a recent livestream .Smart contracts will enable Cardano to add decentralised applications (dApps) and decentralised finance (DeFi) functionality.That will allow the blockchain to compete in the DeFi space with the likes of Ethereum, Polkadot, Binance and Solana.Unlike other blockchains that introduce and vote on updates, Cardano has taken a peer-review approach managed by IOHK, and rolls out features gradually.IOHK is developing an ecosystem around the Cardano blockchain and the ADA cryptocurrency.In 2020, it announced the launch of cFund, a $20m early-stage investment fund focused on supporting companies that are using the blockchain.

On 3 August, BlockSwap Network reported that cFund has invested $500,000 in its platform, which offers fixed income DeFi products with an automated staking liquidity for PoS chains.

The funding will help BlockSwap integrate ADA into its new “Open Saver” account, which will offer a 7% return through a bonded asset market that will be based on BlockSwap’s investment in various PoS cryptocurrencies.

On 29 July, the Occam Association, which bills its Occam.fi ecosystem as “Cardano’s Smart DeFi Layer”, https://medium.com/occam-finance/occam-fi-receives-strategic-investment-from-cardano-ecosystem-vc-fund-86c40a28cbb2 that cFund had made a strategic investment.It said: “Occam.fi is a suite of DeFi solutions tailor-made for Cardano.” The first part of the ecosystem is a decentralised funding platform called OccamRazer.

Occam.fi will transition to Cardano from Ethereum when smart contracts go live with the Alonzo hard fork, having developed a bi-directional bridge between the two blockchains.IOHK is also working on cross-chain bridging with Nervos Network to allow users to transfer assets between the blockchains to conduct transactions interchangeably.The Nervos ‘Common Knowledge Base’ (CKB) is a proof-of-work (PoW) protocol that is focused on interoperability.It allows users to keep any crypto asset in a secure, permissionless environment.Users of the Nervos platform will be able to create native assets on Cardano and port them across the blockchains.Developers on Nervos and Cardano will gain access to features that will enable them to expand their dApps.

Cardano price trends higher after bottoming ADA traded down to an intraday low of $1 on 22 June, its lowest level since February.That was before the cryptocurrency market rally took the price up to an all-time intraday high of $2.46 on 16 May.The coin then reached $1.40 on 26 July and again on 5 August, its highest price since 8 July.The ADA price shed 59% from the top to the recent bottom, in line with a 59% decline in the ether (ETH) price over the same period.Altcoins, the collective term for alternative cryptocurrencies to bitcoin, have largely taken direction from the largest crypto market in recent months.What do the latest predictions from analysts suggest about the direction of the ADA price? When will Cardano explode higher, if at all? Cardano price prediction: what is the outlook for ADA? In the short term, veteran trader and analyst Peter Brandt has identified a technical pattern in ADA similar to a top that was seen in litecoin (LTC) in 2018 before the price of that cryptocurrency dropped, which suggests the ADA price could fall back.I remember being scoffed at unmercifully when I identified this top in — Peter Brandt (@PeterLBrandt) [$LTCUSD] back in mid 2018 Hey Cardano trolls [$ADAUSD] , take aim…[pic.twitter.com/3gytNHW4cR] [July 30, 2021] In contrast, Michael van de Poppe, a cryptocurrency trader and analyst at the Amsterdam Stock Exchange, sees Cardano as bottoming out on support, with the potential for a Cardano investment to gain as much as 400%-800% as the ADA/BTC pair moves up with rallying bitcoin (BTC) .

Forecasting site WalletInvestor predicts that the Cardano future price will rise steadily from the $1.32-$1.36 range in August to $2.03 by the end of the year.It then projects the price will reach $3.68 by the end of 2022 and more than double to $9.56 in five years’ time.The ADA coin price prediction from DigitalCoin estimates that it will average $2.05 this year and rise to an average of $2.53 in 2022.Over the long term, it predicts the price will reach an average of $4.08 in 2025 and $6.13 in 2028.

It is important to keep in mind that cryptocurrency markets remain extremely volatile, making it hard to predict what the price of the coin will be in a few hours, and even harder to give long-term estimates.Therefore, we recommend you always do your own research and consider the latest market trends and news, technical and fundamental analysis, and expert opinion before making any investment decisions.Where to buy Cardano (ADA) coins in 2021 If you are looking to invest in Cardano now, you can buy the coin on cryptocurrency exchanges like Coinbase, Binance and Huobi.You can then withdraw the coins to a secure software or hardware wallet for safekeeping.

Alternatively, you can trade ADA using contracts for difference (CFDs) on Capital.com.CFDs allow you to speculate on short-term price fluctuations without having to buy and sell the actual coin.Trading CFDs offers the opportunity to try to benefit from both bullish and bearish price action.If you expect the ADA price to rise, you can open a long position; and if you think it will drop, you can open a short position and still make a profit on the trade if the price moves lower.Trade Cardano to US Dollar – ADA/USD CFD With Capital.com, you can trade ADA not only against the US dollar but also bitcoin .

As a leveraged product, CFDs are designed to maximise gains, which can be large on volatile products such as cryptocurrencies.However, you should be aware that using leverage also increases the size of the loss if the price moves against your position.Make sure you understand how CFDs work and do your own research before you begin, and never invest money you cannot afford to lose.

Learn more about cryptocurrency CFDs with our comprehensive guide .Create an account on Capital.com to stay on top of the latest Cardano crypto news, price analysis and predictions, and start trading one of the market’s largest coins today.

* Note that CFD trading on cryptocurrencies is currently not available in the UK under FCA regulations.Edited by Valerie Medleva Cardano price prediction for tomorrow, and next weeks |Date||Price||Min Price||Max Price| |2021-09-25||$ 2,237||$ 2,085||$ 2,390| |2021-09-26||$ 2,230||$ 2,070||$ 2,391| |2021-09-27||$ 2,116||$ 1,952||$ 2,291| |2021-09-28||$ 2,023||$ 1,864||$ 2,186| |2021-09-29||$ 2,007||$ 1,841||$ 2,175| |2021-09-30||$ 2,027||$ 1,862||$ 2,186| |2021-10-01||$ 2,003||$ 1,836||$ 2,160| |2021-10-02||$ 2,056||$ 1,892||$ 2,208| |2021-10-03||$ 2,049||$ 1,877||$ 2,216| |2021-10-04||$ 1,936||$ 1,782||$ 2,091| |2021-10-05||$ 1,843||$ 1,681||$ 2,003| |2021-10-06||$ 1,826||$ 1,667||$ 1,990| |2021-10-07||$ 1,847||$ 1,677||$ 1,991| |2021-10-08||$ 1,822||$ 1,662||$ 1,977| FAQ There are 32.08 billion ADA coins in circulation, out of a total supply of 32.96 billion, according to data from CoinMarketCap.The circulating supply accounts for 71% of the maximum supply, which is capped at 45 billion.Whether ADA is a good addition to your portfolio depends on your personal financial circumstances, asset diversification and risk appetite.

Cryptocurrencies are highly volatile assets, making them riskier than other forms of investment.You should never invest what you cannot afford to lose.

Some forecasts predict that the ADA price will rise in line with a rebound on the broader cryptocurrency markets, led by ether and https://capital.com/btc-usd-chart .Others are more cautious, and indicate the price could fall back after recent gains.The price will also be affected by the success of the rollout of the next hard fork on the Cardano blockchain in driving its usage.Forecasts such as those from DigitalCoin and WalletInvestor indicate the ADA price could climb to $5 over the medium term, with the possibility of reaching $10 over the long term.Analyst Michael van de Poppe predicts ADA could gain as much as 800%, which would put it on track to exceed $10.In the meantime, the coin’s price will depend on the trend in the broader cryptocurrency markets, as well as adoption of ADA and the Cardano blockchain among developers and users of DeFi, dApps and NFTs.Read more: Ripple analysis: is it time to buy XRP despite its SEC case? .

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