Cardano (ADA) is one of the most widely known altcoins besides Ethereum (ETH). For a certain period last year, the coin was always talked about within the crypto community; especially because of how it overtook the “third-largest cryptocurrency” title for a certain period. The name Cardano (ADA) had been in the news for months and had reached its peak; but some of its investors are now concerned about its rapid fall. This Cardano price prediction gives an intelligent foresight of the crypto.
Recent News and Updates About Cardano (ADA)
Commenced in September 2021, with the Alonzo testnet hardfork, ADA’s price soared to an all-time high of nearly $3. However, Cardano (ADA) has had a hard time keeping up with the crypto market; this is despite all of its announcements and improvements and is now down more than 50% from its all-time high.
And before bidding “bye” to the year 2021, Cardano (ADA), along with Bitcoin (BTC) and other smaller cryptocurrencies, had movedlower in value in early European trading hours. One of its challenges was claimed to be about its regulation. As uncertainty about the huge rise of digital assets spreads around the world, the crypto industry has recently faced various regulatory challenges. Although rumours had spread that Cardano (ADA) was experiencing regulatory concerns, its founder, Charles Hoskinson, disagreed with this statement.
For a few years, Cardano (ADA) has already established a good image with the public due to its offered features that are supported by the latest technology. Indeed, it’s a coin with great potential! Yet we all know that this cryptocurrency has a long way to go, which leads many investors to this question: will Cardano (ADA) hit $10?
In this coin price prediction article, we will go through Cardano’s (ADA) future potential based on technical analysis and what other experts have to say about this coin. But first, allow us to help you further your fundamental analysis.
So, let’s start with a brief introduction.
About Cardano (ADA)
Cardano (ADA) is a third-generation cryptocurrency that is designed to address the scalability issues of the earliest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH). Just like Ethereum (ETH), Cardano (ADA) is a smart contract cryptocurrency, but it uses a proof-of-stake mechanism instead. It was also given the title of being an “Ethereum Killer” since it functions as a platform wherein developers are allowed to create smart contracts and decentralised apps, or dApps. Last September 2021, the Cardano ‘Alonzo’ hard fork was formally implemented, providing smart contract features to the network.
Cardano (ADA) was built by two for-profit companies, namely Input Output Global and Emurgo, which are based in the United States and Japan, respectively. Its development was coordinated by the Cardano Foundation, a non-profit organisation, which is based in Switzerland.
At the time of writing (January 27, 2022), Cardano (ADA) is listed as the sixth-largest cryptocurrency by market cap. It is currently sold at over $1.12, with 33.55B ADA supply circulating around the world.
What Do Experts Say About Cardano (ADA)?
Due to their volatility, cryptocurrencies can really be a very risky investment. The recent downtrend of Cardano (ADA) has led a number of investors to pull out—which is what many crypto enthusiasts do when they’re placed in a doubtful perspective about their cryptocurrency. But one expert remains positive on ADA’s increase.
“Sure. Cardano has spent the last four months in a downtrend since its September all-time high of $3.10. But it’s safe to say ADA is alive and well.” – BitBoy Crypto
2022 will be another prestigious year for Cardano (ADA), as stated by another expert. Because of how promising the project is because of its recent developments, specifically its staking feature, some are optimistic that Cardano (ADA) will experience another all-time high this year and even in the next few years.
“ADA”s long term technical suggests it could rise as high as $4 in the coming months, assuming it can break that zone of price resistance at the $70 mark. If ADA doesn’t break past that point, we could see its price print a nasty head and shoulder pattern, which could bring ADA back down to 2020 lows. I highly doubt that this will happen because Cardano has lots of upcoming milestones which could easily take ADA to new all-time highs.” – Coin Bureau
Cardano (ADA) Price History
According to the historical data recorded by CoinMarketCap, Cardano (ADA) started the year 2020 with $0.03346 and a market capitalisation of $867,464,516. By the end of December 2020, Cardano (ADA) value increased to $0.1814, having a market capitalisation of $5,643,713,241. This year’s peak was $0.1962, dated December 29.
Last year, Cardano (ADA) experienced an all-time high right after the launch of Alonzo. On January 1st of 2021, the coin’s price ranged over $0.1753 with a market capitalisation of $5,455,571,953. It reached a market capitalisation of $43,873,068,347 at the end of December 2021. Cardano (ADA) closed with a price value of $1.31. 2020’s peak was $3.10, dated September 2.
*Charts fromCoinMarketCap
Frequently Asked Questions (FAQs)
Oh! You may have some questions in mind now, so we’ll have them answered before we continue reading the next part of this article.
So, what is crypto staking again?
Crypto staking is a “practice” that helps verify transactions on a blockchain network. Another way to describe staking is that it is a process of pledging assets to help with a blockchain consensus mechanism known as proof-of-stake (which we have also mentioned earlier). With enough assets staked, validators (those who process network transactions) can validate transactions on the blockchain network and generate incentives for this operation.
Interesting! But where can I stake Cardano (ADA)?
Staking for Cardano (ADA) is presently available on eToro. You can sign up for eToro now and invest in your preferred assets!
How much time is needed to complete a Cardano transaction?
The time it takes to complete a Cardano transaction can be as little as 20 seconds. For irreversibility, however, 15–30 layers of blocks are required, so the transaction time would most likely take 5–10 minutes.
What are the advantages of having Cardano (ADA) in my portfolio?
The answer to that is simple! In minutes, Cardano (ADA) can be transmitted anywhere in the world to anyone, and it’s completely anonymous, decentralised, and irreversible. Although it’s volatile, it can never lose its value.
Cardano Price Forecast
In this section, we gathered predictions from different crypto analysts to help us assess the possible price performance of Cardano (ADA) in the future.
Take note: When checking out Cardano forecasts, keep in mind that these predictions are based on a combination of historical and technical analysis, and crypto analysts’ readings can be inaccurate. There is no guarantee that the past results will be the same in the future.
Cardano Price Prediction 2022
According to the forecast system of Wallet Investor, Cardano (ADA) could be a profitable investment for this year. Based on their chart (as of January 26, 2022), it seems that ADA’s trendline for this year would go upward and describe the coin’s market environment as bullish. Their team has forecasted that by the end of December 2022, Cardano (ADA) could possibly hit an average price of $2.425, with a minimum price of $2.075 and a maximum price of $2.786.
Source: WalletInvestor
Other analysts have the same predictions with Wallet Investor, namely Digital Coin Price. Although it may not be as high as the first prediction, Digital Coin Price currently believes that the Cardano (ADA) price would increase by the end of this year, hitting the average price of $1.57. The same goes with Coin Price Forecast, which has a current price prediction that Cardano (ADA) would end the year ranging from $1.45 value.
Cardano Price Prediction 2025
In the next three years, we can anticipate its value increasing continuously. This could be possible because of the project’s upcoming developments that may excite the majority of crypto enthusiasts. Wallet Investor still has a positive outlook on its price. Looking into their prediction, Cardano (ADA) could reach the average price of $6.894 by the end of 2025, with a minimum price of $5.484 and a maximum price of $8.333. Meanwhile, still being hopeful about ADA’s price increase, both Digital Coin Price and Coin Price Forecast remained “realistically optimistic” by predicting its year-end average prices would be $2.05 and $3.40, respectively.
Cardano Price Prediction 2030
Could 2030 be the year when we’ll get to witness Cardano (ADA) hit the $10 mark? Among the three analysts, one prediction is gearing towards the answer “YES” to our question. Cardano (ADA) seems to have a bright future ahead and could race up to $10 according to the prediction. It is possible if investors would decide that Cardano (ADA) would be a great investment starting 2022.
Conclusion
Cardano (ADA) may still be one of the smaller cryptocurrencies in the market; but it has already shown its potential to many, which also had it earn the spot of being one of the top competitors of bigger cryptocurrencies like Ethereum (ETH). The coin even has a good spot in the list of ten-largest cryptocurrencies by market cap!
It may not have been a smooth path for Cardano (ADA) recently—well, it’s not just the only one in the cryptocurrency market; but many are still hopeful about its value and future improvements. Sooner or later, we may witness Cardano (ADA) hit new heights.
Let’s say you want to start with the most user-friendly and easy-to-understand trading platform available to invest in Cardano (ADA); you can sign up with eToro now to begin your crypto quest!
Disclaimer
When making investment decisions, please use this information with caution. Because it’s difficult to estimate future coin prices due to the market’s volatility, you shouldn’t rely on these price projections. This article’s viewpoint should not be construed as investment advice. We strongly advise you to do your own research and consult with a registered financial advisor.