Charles Hoskinson, IOG CEO, is busy with the Consensus 2022 event, ongoing June 9-12 in Austin, Texas. He mentioned his excitement about the Vasil hard fork, also expected to take place in June:
As many of, you know, a major major major hard fork combinator event is happening in June, which is the Vasil hard fork, and that is going to contain pipelining, which will be a massive performance improvement to Cardano, alongside the first wave of significant Plutus enhancements since Plutus shipped in September.Charles Hoskinson, , IOG CEO
With the disaster that happened, I am glad I have chosen the turtle in this race, the turtle being Cardano; slow and steady wins the race!Redditor
Today’s Cardano price is $0.420400 with a 24-hour trading volume of $1,013,702,786. Cardano is down 1.91% in the last 24 hours. The current CoinMarketCap ranking is #8, with a live market cap of $14,183,880,361. It has a circulating supply of 33,739,028,516 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 Cardano. 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.
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.
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;
- Ledger Nano
Cardano 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.
The Cardano price analysis shows rising signs as the market shows massive upside potential. The bulls have regained their control of the Cardano market, which will change the course of the market for the better, and ADA now expects the bullish period to take over in the next few days. However, the bears will do everything in their power to regain their control. The ADA price has experienced fluctuating dynamics in the last few hours but will get through it soon.
The market shows the price of Cardano crashed yesterday to the $0.5 mark but spiked soon after to $0.69. Cardano continues a slight negative movement. However, the next day, Cardano prices declined again and reached $0.66. The current price of Cardani is $0.66; ADA has been up 0.22% in the last 24 hours with a trading volume of $2,914,702,106 and a live market cap of $22,446,406,645. ADA currently ranks at #8 in the cryptocurrency rankings.
Cardano Technical Analysis
Cardano’s price is in a downtrend and trading in a descending triangle, which leads to a bearish breakout below the $0.40 support zone. Again, the coin’s momentum is mixed as the MACD line is above the MACD signal line (bullish), but its RSI is neutral. Cardano ADA is below its 50 and 100-day Moving Average. The coin’s nearest support zone is $0.40, while its nearest resistance zone is $0.75 (previous support). We might see a bearish trend in the coming days; hence, traders should trade carefully.
Cardano Price Prediction By Authority Sites
Wallet Investor predicts that Cardano ADA is a bad long-term investment. They project that the coin will be worth $0.06042 in one year. They expect the coin to devalue in the future by 97%. Hence, long-term investment in this coin may not be wise, according to Wallet Investor.
Trading Beasts’ Cardano ADA coin price prediction is bullish. They expect the coin to increase by 40.23% by the end of the year 2022. By that time, they predict that the coin will have a maximum price of $0.749 with a minimum price of $0.509.
By 2023, Trading Beasts expects ADA to decrease in value. They expect the coin to have a minimum price of $0.464, with a maximum price of $0.683. The average price of the coin is expected to be $0.546.
Furthermore, Trading Beasts forecast the coin will regain its bullish momentum in 2024 and have an average price of $0.778. The highest price the coin is expected to have is $0.972, while its minimum price is expected to be $0.661.
Trading Beasts predict that ADA will have a maximum price of $1.163, while the minimum price is expected to be $0.791 by 2025. The average price of the coin by then is predicted to be $0.930.
Digital Coin Price is also bullish on ADA. They expect Cardano to have a minimum price of $0.52 with a maximum price of $0.59. The average price of the coin is expected to be $0.55. By 2027, Digital Coin Price expects the coin to increase in value. They expect the coin to have a minimum price of $1.18 with a minimum price of $0.82. Digital Coin Price also predicts that Cardano ADA will have a minimum price of $1.87 and a maximum price of $2.03 by the end of 2030. The average price of the coin by then is expected to be $1.96.
2031 is predicted to be a good year for Cardano ADA. They expect the coin to have a maximum price of $2.32 with a minimum price of $2.09. The average price of the coin by then is predicted to be $2.18.
Cardano Price Prediction By Cryptopolitan
Cardano Price Prediction 2022
According to our price prediction, we expect the minimum cost for ADA in 2022 to be $0.59. We expect the maximum price of the coin to be $0.70. The average trading price of the coin by 2022 is expected to be $0.61.
Cardano Price Prediction 2023
After analyzing Cardano ADA’s past price actions in previous years, we assume it will do well in 2023. The minimum price of the coin is expected to be $0.85, with a maximum price of $1.01. The average trading price of the coin by 2023 is $0.87.
Cardano Price Prediction 2024
We expect the price of ADA to continue its bullish run due to the several projects and roadmap behind it. We expect the coin to reach a minimum value of $1.25 by 2024. The maximum price of the coin by then should be $1.46, while the average trading price is predicted to be $1.29.
Cardano Price Prediction 2025
2025 is also expected to increase and continue its bullish trend. The coin is predicted to have a maximum price of $2.19 and a minimum price of $1.87. The average trading price of the coin is predicted to be $1.93.
Cardano Price Prediction 2026
By 2026, ADA is expected to increase and reach new heights. The coin is expected to reach a minimum price of $2.79 with a maximum price of $3.29. The average trading price of the coin is expected to be $2.89.
Cardano Price Prediction 2027
By 2027, we predict ADA to reach a maximum price of $4.84. The average trading price the coin will have is expected to be $4.24. The minimum price of the coin is predicted to be $4.12.
Cardano Price Prediction 2028
In 2028, ADA might fluctuate between $6 to $7. But reaching this level could be difficult for Cardano as long-term price targets could be found to purchase or sell orders. However, this shows that Cardano is likely to reach a new all-time high soon in the next six years as per our price prediction.
Cardano Price Prediction 2029
In 2029, ADA prices could reach $11. The minimum price the coin will have in 2029 would be $8.99. The average trading price of the coin is expected to be $9.30.
Cardano Price Prediction 2030
As per the latest upgrades and developments, we expect Cardano to have a maximum price of $15.69 with an average price of $13.92. The lowest price the coin will have by then is predicted to be $13.55.
Cardano Price Prediction 2031
We expect 2031 to be the year for Cardano (ADA). The coin is predicted to have a maximum price of $23.19. The coin’s lowest price will have is $19.67, while the average trading price of the coin is expected to be $20.22.
Cardano Price Prediction By Industry Experts
Famous industry expert FXStreet is bullish on the price of Cardano. They reveal that an 80% bull rally on Cardano in the long term is expected.
Dan Gambardello, a crypto influencer, explained why he is waiting for a Cardano (ADA) breakthrough in a tweet on June 8.
- One of the first things he said was that the Vasil Hard Fork from the ADA is approaching. ADA’s chart also included an increasing triangular pattern, which Gambardello observed. The triangle is approaching its apex, but for Gambardello, the most crucial aspect is that the pinnacle is “essentially wrapping around the Vasil Hard Fork” near the end of June.
ADA is also challenging the $0.647 barrier and closing daily candles above the 20-day moving average, according to Gambardello.
- Another important factor for the influencer is that Cardano is becoming more popular. The crypto community appears to be positive about the coin, and a lot of whales have been loading up on ADA.
- Gambardello believes that the crypto market, as well as traditional markets, are poised for a rally if all goes according to plan. He further clarified that he is not attempting to make a forecast about ADA, but rather is pointing to the consistent statistics that the organization has generated in the past.
There is a bright future ahead of the Cardano ecosystem. Due to ongoing developments happening in the ecosystem, we may see the price of Cardano (ADA) reach new heights.
In the past year, Cardano has shown to be one of the most active and busy digital assets in the crypto market. With that in mind, it’s safe to assume that ADA is a viable investment opportunity.
Cardano is expected to have a good future in 2022, according to several analysts. Cardano might possibly achieve a new high as the Cardano ecosystem and the crypto-asset industry as a whole continues to flourish.
Due to its innovations and fundamental concepts, Cardano (ADA) is one of the greatest coins and has garnered the attention of experienced investors.
The project has all it needs to flourish in the future thanks to a large investment in the currency and a well-seasoned workforce.
Our ADA price forecast for 2022 is $0.70. In 2031, our bullish Cardano ADA price prediction is $23.19. Even though we are bullish on Cardano, we advise you do your research before you invest money in this cryptocurrency.
However, it is always highly advised to do your own research and seek investment advice from experts in price movements before investing as cryptocurrencies are extremely volatile.