Cardano (ADA) started 2021 trading at $0.1753. By early September, this coin's value reached $3.10. The price increased by a whopping 1,538% within eight months. Although the ADA current price is $1.31 (December 29), investors are still intrigued about Cardano's potential. Is it a good investment vehicle? Will ADA reach $10 in the future? If so, when will it happen? Please find the answers in our current Cardano price prediction prepared by our team of cryptocurrency analysts.
What Is Cardano (ADA)?
Cardano is an advanced blockchain platform, often referred to as a third-generation blockchain. The name of this blockchain honors the Italian polymath Gerolamo Cardano. By learning from the experiences of other cryptocurrencies, Cardano improves security and functionality. The Cardano blockchain is powered by its own cryptocurrency called ADA. The name of this cryptocurrency honors Ada Lovelace, widely considered the first computer’s programmer in history. Cardano is regarded as one of the main Ethereum competitors. As of December 2021, ADA is the 6th most valuable cryptocurrency by market capitalization, according to CoinMarketCap. It has a vast crypto stock of 45 billion ADA coins.
Cardano launched in September 2017. The entire project’s launch consists of five phases: Byron, Shelley, Goguen, Basho, and Voltaire. The Byron phase started with the mainnet launch of the Cardano blockchain in 2017. In his phase, the Cardano network supported ADA transactions only. The Shelley phase launched in July 2020, resulting in Cardano’s proposed Ouroboros Proas proof-of-stake (PoS) protocol. Currently, Cardano is rolling out its third launch phase, Goguen. This phase will support decentralized apps (DApps) and smart contracts. It will enable Cardano to issue native tokens too.
Besides using the PoS consensus mechanism, Cardano benefits from a rigorous academic approach. New ideas are peer-reviewed before implementation. This approach makes the Cardano blockchain durable, reliable, and more stable.
Cardano’s History
The Cardano project was launched in 2017 by Charles Hoskinson, one of Ethereum’s co-founders. Cardano is one of the most prominent blockchains that successfully applied a PoS consensus mechanism (Ouroboros). This consensus mechanism enables transaction validations by nodes. Network participants can lock some coins on the blockchain to become validators and create new blocks in the network. In March 2021, Cardano started a series of updates to move the network to the next level. The network prepares for the smart contracts era focusing on health, agriculture, and education.
Analysis of Past Years for Cardano
ADA launched through an initial coin offering (ICO) that brought $62 million. The raised funds were used for the expansion of the Cardano ecosystem. After the ICO, ADA faced drastic price fluctuations. From the starting price of $0.01735, the coin value reached 0.026 USD on October 1, 2017. Until the end of November 2017, ADA traded around this level. It seldom crossed the $0.03 mark. In December 2017, the ADA price started increasing after a short-lived drop to below $0.02 per coin. By the end of 2017, ADA traded at $0.7 per coin.
During the bullish run of 2017-2018, the ADA price skyrocketed to $1.130 per coin on January 3, 2018. However, this coin failed to keep this value. After a short correction, a slow decline of the ADA price ensued. By March 2018, the ADA price returned to the level of $0.02 per coin. Until the end of the year, the coin price fluctuated between $0.01 and $0.08 per coin. There were no significant price movements in 2019 and 2020.
Things changed dramatically at the beginning of 2021. ADA kicked off the year with a price of $0.1753. One week later, the ADA price was $0.3056. By February 9, this coin was trading at $0.9303. This upward trend took the ADA price to $2.3091 on May 15. Then, a downward trend ensued, bottoming at $1.0563 on July 19. However, the best was yet to come. The ADA price set its current all-time high on September 2 at $3.10. The price has been dropping since this event. By December 29, the ADA price was $1.31.
Cardano (ADA) Price Analysis
The Cardano project is among the most promising in the cryptocurrency world. With the growth of cryptocurrency adoption, the ADA price is expected to increase. Although it might not happen immediately, the forecasts are promising.
What Ensures Cardano Growth
Cardano employs several innovative approaches that influence its coin price growth. Cardano is the first project to use Ouroboros, a groundbreaking proof-of-stake algorithm. The development team utilizes the “first-principle” approach driven by academic research. The protocol aims at safeguarding the privacy of users while taking into account the needs of regulators. It is the first protocol that effectively balances these requirements.
The system is designed to be upgraded through soft forks. So, it can adapt to changing needs quickly. All these factors make the project suitable for many industries, positively impacting the ADA price.
Technical Analysis of ADA’s Price
To produce a reliable ADA price prediction, one must use analytical tools. You should get familiar with some indicators like the relative strength index (RSI), simple moving average (SMA), exponential moving average (EMA), and others. But if you want to avoid such complications, you can rely on our ADA coin price prediction. It is the result of price analysis by our cryptocurrency experts with insight from reputable sources.
Cardano Price Prediction 2024
Many investors wonder whether Cardano will reach $10. According to TradingBeasts, it may happen in 2024. TradingBeasts analysts predict an average ADA price of $9.823 for 2024. Some analysts believe the Cardano price target of $10 could be reached earlier. For example, Coinpedia forecasts a potential ADA price high of $10.17 in 2022. However, it also predicts a possible price low of $3.99 for the same year. So, Cardano will likely reach the $10 mark in 2024 or the following year.
Cardano Price Prediction 2025
By 2025, the ADA price will likely cross the $10 mark. Smartereum, for example, forecasts an ADA price roughly above $10 in 2025. WalletInvestor predicts an average ADA price of $12.169 in 2025. Accordingly, the maximum ADA price could be $14.507, whereas the minimum is $9.854. However, other analysts are less optimistic. DigitalCoinPrice forecasts an ADA price of $6.32 by the end of 2025. Coinpedia puts the ADA price for 2025 between $7.86 and $25.37.
Cardano Price Prediction 2030
Most experts agree that ADA will continue gaining value beyond 2025. WalletInvestor predicts an ADA price of $10.210 by the end of 2026. More optimistic predictions for 2026 put the ADA price at around $20. In the same vein, ADA would trade at $35 in 2027 and $67 throughout 2029. As such, the Cardano price prediction 2030 is quite optimistic. Some analysts believe that the ADA price will not be below $93 in 2030. By the end of the year, it could trade at $111.
Cardano Price Prediction 2040
Forecasting the price of a cryptocurrency for a very long term is challenging. Many factors determine the price of a cryptocurrency. Those variables can change dramatically in such a long time. Therefore, the resulting prediction could be wildly inaccurate. So, we will not dare to predict the ADA price for 2040 to avoid misleading potential investors.
Will Cardano (ADA) Rise Up?
Yes, it will. Practically all cryptocurrency analysts predict a bullish trend for ADA. The predictions disagree in the time that will take this cryptocurrency to reach some milestones (like crossing the $10 line, for example). However, Cardano will likely succeed in the long run, and ADA holders will be rewarded with significant gains.
Conclusion: Should You Invest in Cardano?
The Cardano project is promising in many regards. It can find applications in many industries. With the growing adoption of cryptocurrency and blockchain technologies, the ADA price will be increasing over the years. It would be wise to hold ADA as a long-term investment. However, the ultimate decision is yours.
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FAQ
Why Is Cardano (ADA) So Cheap?
The Cardano price per coin is relatively low because of the enormous supply of ADA coins (45 billion).
Will Cardano Reach $10 and $100?
There is little doubt about Cardano reaching $10. Most analysts think it could happen in 2024 or 2025. Cardano could reach $100 in the long term. However, not everyone agrees. Some optimistic analysts believe that ADA could cross the $100 line in 2030. But this prediction is disputable.
Does Cardano Have a Future?
Cardano is one of the most promising blockchain projects. It has a well-planned roadmap and a team of developers capable of taking the project to successful completion. Currently (December 2021), ADA is the sixth most valuable cryptocurrency per market capitalization. Therefore, we can confidently say this cryptocurrency has a bright future.
What Is Cardano Worth in 2025?
Cardano price predictions for 2025 vary widely. However, most analysts agree the ADA price will be above $10.
Is Cardano (ADA) Better than Bitcoin?
It is not easy to compare Cardano with Bitcoin since they are not competitors. However, in terms of price performance and market capitalization, Bitcoin will continue dominating the crypto market for several years.
Disclaimer
Please keep in mind that the above information is based exclusively on the author’s observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.