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These days, many investors care about the Cardano(ADA) price prediction with the popularity of Cardano. It is now one of the top-ranking cryptocurrencies in the world.In this blog, Bexplus analysts will analyze the trend of Cardano’s price in the next few years.
What Is Cardano(ADA)?
According to the Cardano homepage, it is a blockchain platform for changemakers, innovators, and visionaries, with the tools and technologies required to create the possibility for the many and the few and bring about positive global change. It combines pioneering technologies to provide unparalleled security and sustainability to decentralized applications, systems, and societies. Simply put, it is a proof-of-stake blockchain and smart contracts platform with a native cryptocurrency called “ADA”.
Charles Hoskinson, the co-founder of the Ethereum network, developed the Cardano platform in 2015 and then launched it in 2017. IOHK, one of the organizations that promote the development of Cardano, is a non-profit foundation, just the same as Cardano Foundation while EMURGO is a for-profit entity. There is a decentralized team that works across these three independent bodies to advance and evolve Cardano.
The founders have set Cardano as an upgrade to Ethereum. Both ADA and Ethereum are used for similar applications, such as smart contracts, and they are committed to building a connected and decentralized system. Cardano utilizes Ouroboros—a proof-of-stake algorithm—to create blocks and confirm transactions taking place on its blockchain.
Cardano(ADA) Price History
Alike Bitcoin(BTC) and Ethereum(ETH), Cardano(ADA) is also a cryptocurrency asset, ADA is the native token of Cardano. Any user can use ADA as a secure exchange of value. On the Cardano blockchain, every transaction is permanent, secure, and transparently recorded.
Cardano’s supply has a limitation at 45 billion ADA, and its circulating supply now is just more than 32,000,000,000. At the time of writing, ADA is the fifth-largest cryptocurrency in the globe by market capitalization.
As mentioned before, Cardano began in 2015. But it is until October 2017 that investors can trade this open-source, decentralized cryptocurrency. Cardano price was recorded from late 2017, which was trading between $0.02 and $0.5.
ADA price created a new high at $1.1141 on Jan. 4, 2018, but then started declining and hit as low as $ 0.0275. This may mainly be due to the strict limitation towards the crypto sphere from some governments around the world.
From 2019 to 2020
These two-year are silent years for Cardano that the ADA price was hovering below $0.2 and registered an all-time low at $ 0.02396 in 2020.
Cardano(ADA) Price prediction
It’s already halfway through 2021. In the next five months or so, what will the price trend of it be like? Will Cardano reach $10? Let’s break it down year by year.
Cardano(ADA) Price Prediction 2021-2022
It is good to see that Cardano starts climbing up to $1 this year and finally set a new all-time high at $2.31 per ADA coin on May 16. Since February 24, the price of Cardano has been trading above $1 and the current price is $1.3 as of writing. It can be said the Cardano coin price is kind of stable and still well within price discovery mode. Following this trend of development, Cardano could reach $2 by the end of 2021 and then $3.5 by the end of 2022.
Cardano(ADA) Price Prediction 2023-2024
If the crypto market is still moving towards a good trend, the price of Cardano might keep increasing and reach $6 by 2023, then $8 by 2024. In addition, the cryptocurrency Cardano should break past the psychological resistance level, then it will see its wonderland.
Cardano(ADA) Price Prediction 2025-2030
In the next four years, Cardano could race up to $10. However, the price of ADA might be higher or lower than this amount depending on many unpredictable factors in the future crypto market. As long as the platform keeps making a great effort to build up a better system for its users and investors hold a positive attitude towards this cryptocurrency and the market, the price would go well.
Conclusion: Is Cardano(ADA) A Good Investment?
As the platform says, it is aiming to create a more secure, transparent, and sustainable foundation for individuals to transact and exchange, systems to govern, and enterprises to grow. Moreover, it is considered much greener than many other cryptos, including Bitcoin and Ethereum. Bexplus analysts believe that the Cardano future is bright based on its well-developed until now.