Cardano (ADA) Overview
Cardano is an open-source blockchain platform powered by the ADA cryptocurrency token. It is widely used to host globally decentralized systems and applications.
Charles Hoskinson, one of the people who started Ethereum, launched the Cardano ecosystem in 2015.
You can get in-depth information about Cardano from our big “What is Cardano” article. And here, as we mentioned, we will talk mainly about Cardano’s price predictions.
Cardano’s cryptocurrency is named ADA after Augusta Ada King, Countess of Lovelace (1815-1852). She is commonly regarded as the first computer programmer.
What is ADA
Thus, ADA is the Cardano blockchain’s own token. The number of ADA tokens can be made is limited to 45 billion. These tokens will be made over time through a process called “minting.”
NOTE: Crypto minting refers to the process of creating new coins through the verification of data, creation of new blocks, and documentation of the verified information on a blockchain network.
The hard limit on the total number of tokens guarantees that ADA will have a deflationary effect. But the ecosystem will show an inflationary trend until a large part of the reserves are put back into circulation, which is expected to happen around 2030.
Like Bitcoin (BTC) and Ethereum (ETH), ADA can be traded for fiat currencies like the US dollar and stored on crypto wallets. Cardano’s own wallets, like Daedalus and Yoroi, can store and transfer ADA.
Please remember choosing a high-quality wallet to store your tokens is very important. Naturally, hardware wallets are the safest. But if you decide to use a software wallet from a third party, you can consider Blocktrade’s wallet as a reliable product.
Check out our guide on choosing “the best wallet for Cardano“.
Factors affecting Cardano’s price
Now let’s discuss the main factors to consider when making Cardano price predictions and, in general, determining how high Cardano can go.
- Supply and demand and the price of Bitcoin are two of the most important factors to consider when predicting Cardano prices. Due to the limited supply of ADA, its price will rise as demand for it rises. The rising interest in Bitcoin in the upcoming years will only intensify this. Demand for ADA is projected to grow as a result of the expansion of the Cardano platform, its user base, and increasing partnerships.
- The pace at which Cardano is developing is another serious factor. It can’t sit back and watch as rivals fail. Because of its open-source nature, Cardano’s competitors have caught up with it. Moreover, many of its ground-breaking ideas are no longer novel (for example, blockchains with multiple layers). That said, Cardano needs big and significant innovations. Otherwise, it will be challenging to stay competitive.
How can you predict Cardano’s price?
It is important to note that the Cardano future price predictions are not just the product of someone’s imagination or wishful thinking but rely heavily on technical analysis.
Technical analysis involves using mathematical indicators to evaluate statistical trends to predict price direction in the crypto market. This is done by looking at past price changes and volume data to determine how the market works and predict how it will affect future price changes.
Technical analysis is fundamental, but you should not forget the opinion of experts, which is mainly based on the coin’s comprehensive analysis. Thanks to their experience and profound knowledge, these people can read the price movements of various cryptocurrencies, and Cardano is no exception.
Therefore, you can compare the results of technical analysis with expert opinions and get a relative picture, but remember that no one can predict with 100% accuracy.
There are always risks.
Cardano’s Price Forecast Based on Technical Analysis
The calculator from “Technical Ratings” can be a valuable technical analysis tool for analysts or potential investors. The thing is that many traders try to use a selection of complementary indicators to make better decisions. “Technical Ratings” simplifies this task by combining the most popular indicators and their signals.
Permanently check the Cardano’s (ADA) price technical analysis from Technical Ratings, updated in real-time. As of the end-2022, it looks like this:
Cardano (ADA) Token Price Market Prediction by Experts
What is the Cardano price prediction for 2023 and beyond?
Will cardano reach $10?
Well, let’s find out how the internet’s most credible experts answer these questions:
CaptainAltCoin had a Cardano price prediction for 2022 that suggested ADA could drop to $0.3389 in November before potentially closing the year at $0.3588. The site indicated there could be a recovery after that, though, with Cardano possibly worth $0.6395 in September 2023.
By 2025 the token could have re-emerged above the dollar to trade at $1.15, but there could then be a dip to $0.9784 by September 2027. By 2030, though, the site suggested that ADA could rebound to $2.88 and even made a Cardano price prediction for 2040 of a potential $5.77.
Here are the month-by-month Cardano price predictions for 2023, 2024 made by TradingBeasts։
Next, PricePrediction made an ADA crypto price prediction which was more bullish for the latter half of the decade, with its Cardano price prediction for 2030 estimating that the coin could average $10.57, up from a Cardano price prediction for 2025 of $1.63 and $0.54 in 2022, based on its deep artificial intelligence-assisted technical analysis.
Finally, WalletInvestor was rather downbeat regarding its ADA price prediction, suggesting that the token could drop substantially from current levels to trade at $0.0531 by September 2023.
Here is the full graph of their price forecast:
Is now a good time to invest in Cardano?
According to the technical analysis tools mentioned above, the end-2022 is not the best time to buy Cardano. Unless, of course, you don’t aim to get high incomes in the short-term plan. And if your goals are more far-reaching, then again, considering some expert opinions, Cardano can be bought now. Although, in anticipation of long-term growth.
So, before deciding, please research well and calculate carefully.
Cardano (ADA) Historical Price Performance
Can ADA reach $5? The value of an ADA coin tends to follow the general trend of the cryptocurrency market, going up during rallies in late 2017 and early 2021 and going down during wider sell-offs.
Let’s examine point by point the ADA’s price journey till mid-2022.
- When the price of ADA hit its all-time high of $3.10 on September 2, 2021, just before the Alonzo hard fork, which added smart contracts to the blockchain, people had high hopes. After the launch, developers set up more than 100 smart contracts. However, as the chart shows, the ADA token was sold off and didn’t participate in the November crypto rally that took Bitcoin (BTC) and Ether to new highs.
- ADA started 2022 at $1.36, and on January 18, it went up to $1.63. Then, on February 24, when the conflict between Russia and Ukraine started, investors sold off their assets, lowering the price to $0.7528. Late in March, the price went back up to $1.24, but it couldn’t keep going up, and by the end of April 2022, it was back down to $0.7424.
- On May 12, 2022, the coin fell to an intraday low of $0.4065.
- As crypto prices went up, ADA went back up to $0.6823, but then it went down to $0.4234 in the middle of June. The price went up to $0.546 on July 20, 2022, and then back down to $0.4521. It stayed around $0.50 until the beginning of August. On August 14, it hit a monthly high of $0.5939. By August 31, it had gone down to around $0.4575.
- In September, the price started to go up again as investors got excited about Vasil. On September 10, ADA hit a high of $0.5235. But after that, market forces caused the price to go down. Even though there was news about Vasil, the price of ADA went down to $0.4344 on September 19, 2022. On September 20, 2022, it went back up a little and was worth around $0.4451. At that time, out of a total supply of 34,854,947,575, there were 34,18 billion ADA in circulation. This made the coin’s market cap about $15 billion, making it the eighth-largest cryptocurrency.
Cardano (ADA) Price Prediction 2023
Since we already have a clear understanding of Cardano’s price history, as well as various expert and technical analyses, let’s summarize Cardano’s year-by-year price predictions.
Of course, we will start with 2023.
As the development of Cardano speeds up in 2023, ADA will be worth $2.11 by the end of 2023. Up from $1.52 at the beginning of the year. In the short term, the highest price for Cardano might be $2.53, and the lowest price will be $1.33. In 2023, the average price of ADA will be $2.85.
Cardano (ADA) Price Prediction 2024
In 2024, there is a good chance that bulls will push ADA as high as $4.16, while bears will be unable to push the price any lower than $2.51. Predictably, Cardano will have an average price of $5.52 by the end of 2024 if the cryptocurrency market performs well.
Cardano (ADA) Price Prediction 2025
Suppose all goes exceptionally well, and Cardano developers will implement the abovementioned factors. In that case, the token will roll out several improvements by 2025 that will further democratize the platform and draw in additional investors. As a result, Cardano will continue to grow in 2025, reaching a maximum target price of $10, a low price of $6.88, and securing an average of $10.30 by the year’s end.
Cardano (ADA) Price Prediction 2030
Let’s dive a bit further into the future. The analysts predict that the coin’s maximum price might be $15.69 with a minimum of $13.55.
What are the risks of investing in Cardano (ADA)?
In general, Cardano is a reasonably secure investment. Nevertheless, ADA is volatile and regarded as high risk by conventional standards, just like other cryptocurrencies.
As a co-creator of Ethereum, the team’s founder Charles Hoskinson is well-known in the crypto industry. Additionally, ADA is a coin on its own blockchain, apart from other projects. It provides various staking alternatives, enabling users to hold their ADA in staking pools while earning passive payments. We will discuss the “Cardano Staking” in a separate article. Definitely read it!
Where can I buy Cardano?
A crypto exchange is the best place to purchase digital assets like ADA. You should extensively study Cardano before opening an account and buying it to determine whether it meets your needs (and to avoid fraud!). After purchasing ADA, you should keep it safe in a Cardano wallet.
We at Blocktrade try to ease the process of cryptocurrency purchases. And what is more important, you can buy ADA tokens from Blocktrade without any fees!
Cardano is one of the most famous cryptocurrencies on the market. As a result, Cardano’s price predictions in the double and triple digits are not inconceivable.
However, those high price targets may take longer to materialize, as Cardano is already among the top 10 cryptocurrencies by market capitalization. Besides that, it is one of the cheapest cryptocurrencies to purchase for less than $1. At the same time, the total and circulating supplies are crucial variables for understanding token pricing and generating Cardano price predictions. The entire supply of ADA coins is 45 billion, with 33.6 billion in circulation.
Given all of this and numerous forecasts, it would appear that purchasing Cardano could be a good investment if you’re willing to play the long game. Although a sharp price increase is doubtful, the charts indicate that it might still be a wise investment for those willing to hold onto positions for the long term.