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