by : ada_coin News, Price Prediction

Cardano Price Prediction – Can ADA Reach $10 by 2023?

Cardano’s ADA token has been a beneficiary of the current market rally. However, what are the prospects of the asset hitting the $10 mark by the end of next year?

At press time, ADA trades at $0.40, marking a downtrend of 1.36% in the last 24 hours. However, ADA increased by 12.36% over the past week, in line with the crypto market.

The crypto asset has benefited from the recent market rally, which pushed the industry over the $1 trillion market cap value for the first time in over two months.

ADA’s strong performance has led it to some impressive technical gains. The asset is trading in line with its 10-day moving average (MA) of $0.4020, and it currently outperforms all other short-term MA metrics. ADA’s 100-day and 200-day MA, which stand at $0.41 and $0.40, respectively, also align with its trading price.

ADA displays a positive moving average convergence divergence (MACD), indicating a buy signal. And with a relative strength index (RSI) of 39.20, the token is still underbought.

Last week, Cardano founder Charles Hoskinson announced that he would be accepting ADA at his restaurant and whiskey bar in Wheatland, Wyoming — where he lives.

Hoskinson had said in July that he would launch the venture. The crypto founder claimed at the time that he would make his restaurant crypto-friendly, and he reiterated that sentiment last week.

Market participants and ADA enthusiasts would be watching to see how well ADA performs as a payment method. The restaurant industry hasn’t been swift to accept crypto for payments, but this doesn’t mean that ADA will fail.

The current price action for many crypto assets has been impressive. Because the crypto market has been on a sustained downtrend, many investors will likely troop in to cash out on the market’s gains.

However, the crypto market is still significantly affected by the broader economy. Inflation fears remain high, and possible interest rate hikes by the end of the week could put a damper on the current rally.

by : ada_coin Price Prediction

Cardano Price Prediction: 2023 – 2031

Cardano Price Prediction 2023

After the analysis of the prices of Cardano in previous years, it is assumed that in 2023, the minimum price of Cardano will be around $0.689931. The maximum expected ADA price may be around $0.789921. On average, the trading price might be $0.709929 in 2023.

Price Prediction 2024

Based on the technical analysis by cryptocurrency experts regarding the prices of Cardano, in 2024, ADA is expected to have the following minimum and maximum prices: about $1.01 and $1.18, respectively. The average expected trading cost is $1.04.

Cardano Price Prediction 2025

The experts in the field of cryptocurrency have analyzed the prices of Cardano and their fluctuations during the previous years. It is assumed that in 2025, the minimum ADA price might drop to $1.46, while its maximum can reach $1.75. On average, the trading cost will be around $1.50.

Cardano Price Prediction 2026

Based on the analysis of the costs of Cardano by crypto experts, the following maximum and minimum ADA prices are expected in 2026: $2.52 and $2.10. On average, it will be traded at $2.16.

Cardano Price Prediction 2027

Crypto experts are constantly analyzing the fluctuations of Cardano. Based on their predictions, the estimated average ADA price will be around $3.05. It might drop to a minimum of $2.96, but it still might reach $3.60 throughout 2027.

Cardano Price Prediction 2028

Every year, cryptocurrency experts prepare forecasts for the price of Cardano. It is estimated that ADA will be traded between $4.19 and $5.12 in 2028. Its average cost is expected at around $4.34 during the year.

Cardano Price Prediction 2029

Cryptocurrency analysts are ready to announce their estimations of the Cardano’s price. The year 2029 will be determined by the maximum ADA price of $7.23. However, its rate might drop to around $6.01. So, the expected average trading price is $6.19.

Cardano Price Prediction 2030

After years of analysis of the Cardano price, crypto experts are ready to provide their ADA cost estimation for 2030. It will be traded for at least $8.40, with the possible maximum peaks at $10.36. Therefore, on average, you can expect the ADA price to be around $8.65 in 2030.

Cardano Price Prediction 2031

Cryptocurrency analysts are ready to announce their estimations of the Cardano’s price. The year 2031 will be determined by the maximum ADA price of $15.01. However, its rate might drop to around $11.74. So, the expected average trading price is $12.08.

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About Cardano

Cardano is a blockchain project focused on developing a framework for smart contracts and decentralized applications (dApps) that prioritizes advanced functionality and scalability. The native cryptocurrency of the Cardano network is called ADA, which can be used to transfer value in the same way as other digital assets. However, the maximum supply of ADA coins is capped at 45 billion.

Cardano operates on a public, decentralized network that utilizes the Proof-of-Stake algorithm to achieve consensus about ledger state. The project was launched in 2017 by Charles Hoskinson, a co-founder of Ethereum.

Cardano was created as a solution to Bitcoin’s poor network performance and Ethereum’s lack of scalability. Cardano is based on the principles of scalability, interoperability, and regulatory compliance.

Cardano has two features, the Cardano Settlement Layer (CSL) and the Cardano Computational Layer (CCL). CSL tracks transactions and uses ADA as its currency while CCL, which is similar to Ethereum, focuses on smart contracts and dApps.

Cardano is a cryptocurrency project that takes a rigorous approach to development. For example, the protocol’s Ouroboros Proof-of-Stake consensus protocol has been subject to academic peer review. Thanks to its blockchain architecture, Cardano uses less than 0.01% of the energy consumed by Bitcoin, as reported by the University of Cambridge.

Cardano’s Haskell-based smart contracts offer greater security than those written in other languages. With Plutus, developers can use Haskell to write self-executing contracts and create new tokens.

There are hundreds of blockchain projects in the Cardano ecosystem, including decentralized exchanges (DEXs), wallets, DeFi protocols, NFT marketplaces, token launchpads, games, and more.

Charles Hoskinson, one of the original founders of Ethereum, came up with the idea for Cardano. However, he left Ethereum because he disagreed with where the team wanted to take the project in the future. Afterward, Hoskinson started IOHK–a blockchain infrastructure company and primary developer of Cardano.

Cardano began development in 2015 but did not launch until 2017, accumulating $62 million from its ICO campaign. In total, the project held five fundraising events between 2015 and 2017, selling nearly 30 billion ADA.

Cardano is managed by three organizations which serve different purposes – IOHK, Cardano Foundation, and Emurgo. IOHK manages the technical development of the Cardano protocol, the Cardano Foundation promotes adoption of Cardanao blockchain technology while Emurgo focuses on commercial applications.

Cardano is focusing on five major aspects of the protocol, each in a different phase. The phases are listed below in order from first to last:

  • Byron (Foundation)
  • Shelley (Decentralization)
  • Goguen (Smart contracts)
  • Basho (Scaling)
  • Voltaire (Governance)

Upon finishing the objectives detailed in the five phases of our road map, Cardano will be a fully decentralized blockchain ecosystem not under IOHK’s management. In addition, it will have advanced scaling and governance features on top of interoperable smart contracts.

by : ada_coin Cardano Price History

Cardano Price History

Soon after first entering circulation following the ICO campaign, the price of Cardano has solidified the ADA token in the upper echelons of blockchain projects. ADA’s early market success could be in large part attributed to the ICO craze of late 2017 and early 2018, which saw numerous tokens reaching multi-billion dollar valuations.

During the ICO phase, roughly 25.9 billion ADA tokens were made available to investors participating with Bitcoin at the initial ADA token price of $0.0024. The Cardano team successfully hit its fundraising goal of $62,240,000. Shortly after it started trading, Cardano’s price shoot up to $0.03 and went on to hit $1.20, valuing the project at almost $32 billion. Since then, the Cardano project retained its high ranking on the list of largest market cap digital currencies.

Here are several key milestones in Cardano’s price history:

  • $0.0024 – Initial investors were able to obtain ADA with BTC during the ICO campaign at a sale price of $0.0024
  • $0.0250 – The Cardano token price surpassed $0.0250 on the first trading day in early October 2017
  • $0.1000 – The price of ADA surpassed $0.1000 in November 2017, showing more than 40x returns compared to its ICO price
  • $0.5000 – Cardano price reached the $0.5000 price level in December 2017, two months after it started trading
  • $1 – The first time that ADA reached $1 came in January 2018
  • $2 – After a prolonged bear market between 2018 and 2020, the price of Cardano surpassed $2 in May 2021
  • $3 – The price of ADA coin hit the $3 milestone in September 2021

For a glimpse into a potential future ADA price movement in addition to the Cardano live price, you can follow our algorithmically generated Cardano price predictions that take into account ADA’s current price and a number of market indicators, including Fear & Greed Index, market sentiment, overall volatility, and more. You can also check the up-to-date market rate of 1 ADA to USD via our handy crypto-to-fiat and crypto-to-crypto conversion feature.

Cardano Market Cap

The market capitalization of ADA shot well into the multi-billion dollar territory shortly after the token entered circulation in late 2017. Since then, Cardano has never relinquished its position among the largest market cap coins.

Here’s what the ADA market cap data tells us about the most notable Cardano market cap milestones:

  • $500 million –  The market cap of ADA surpassed a $500 in October 2017, shortly after its launch
  • $5 billion – The ADA token market cap surpassed $5 billion in December 2017
  • $10 billion – Cardano hit decacorn status in the final days of 2017
  • $20 billion – The first time that the market cap of Cardano surpassed $20 billion was in January 2018
  • $50 billion –  The combined value of all ADA tokens in circulation reached $50 billion in June 2021
  • 90 billion – ADA’s market cap surpassed $90 billion in August 2021
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Key facts about Cardano

  • Cardano was launched in 2017, two years after initial development began in 2015 by Ethereum co-founder Charles Hoskinson
  • In order to fund development, the Cardano project raised $62.2 million in an initial coin offering (ICO) that was completed in January of 2017.
  • Cardano is a blockchain platform designed to run for smart contracts and decentralized applications
  • The Cardano network is based on a unique Ouroboros Proof-of-Stake consensus mechanism
  • IOHK, Cardano Foundation, and Emurgo are the main organizations in the Cardano ecosystem
  • The Cardano network consists of the Cardano Settlement Layer (CSL) and the Cardano Computational Layer (CCL)
  • Cardano is one of the leading blockchain projects in the industry, boasting a multi-billion dollar market cap and hundreds of apps running on its chain