Ada is a native token of the Cardano network — one of the oldest projects in the space, founded in 2015 and aiming to overcome the issues plaguing other Level 1 blockchain networks, such as scalability and interoperability while keeping the network just as secure. Its creator is Charles Hoskinson, a co-founder of Ethereum, who had a vision of commercializing blockchain tech, as opposed to keeping it non-profit, which resulted in him leaving Ethereum.
Cardano’s stated purpose is to provide the platform for dApp development. While it may not be a unique use case, what sets Cardano apart from similar projects is its technology. Cardano employs a team of highly qualified scientists and boasts peer-reviewed research as a base for all the technological developments in the ecosystem. Cardano is managed by three entities: IOHK, which oversees the technological side, Cardano Foundation, responsible for the platform expansion, and Emurgo, working with entrepreneurs and dApp developers to commercialize the platform.
The network is secured using the Proof-of-Stake consensus protocol first developed by academic researchers, called Ouroboros. It allows users to stake their ADA tokens in a mining pool or delegate them to the pools to earn rewards. It’s one of the first PoS solutions, more energy-effective and environmentally friendly than Proof-of-Work. ADA is also used as a currency, enabling transactions within the network.
Cardano began 2021 on a strong note, surging above $1.3 in February on the wave of public enthusiasm for crypto. Ada’s price continued to rally in the spring, experiencing an all-time high of $2.46 in May. After the general trend on the crypto market reversed and prices started to fall, Cardano followed suit, and Ada’s price gradually declined. However, by July it still didn’t go below $1, besides, Cardano’s price graph has been following a wide wedge since its latest peak, which is very promising for Ada’s future.
Despite the fact that 100% accurate technical analysis for Cardano cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated ADA buy-and-sell rating for selected timeframe. The summary for ADA/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Below we have collected the most reliable price projections for Cardano (ADA) from popular forecast platforms.
According to WalletInvestor, Cardano price will grow from $1.309 to $3.013 in one year. That makes ADA an awesome investment. The long-term earning potential is 130.18%. Predicted price for the end of 2026 is $9.710.
Answering the question about if Cardano is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $1.71967 with a reduction to $1.45323 by the end of 2022.
In DigitalCoin analysis, the price of Cardano cryptocurrency will rise in the next 5 years starting from $1.32134 as of today’s price to $5.172359. It will go up to $2.1958834 by 2022 and continue its growth in 2023–2024. Based on this forecast, Cardano is a profitable long-term investment.
In 2021, the average Cardano price will go up to $1.331. In 2022, Cardano’s price will rise significantly to an average of $2.0208333.
As it can be clear from the analysis cited above, Cardano (ADA) projections are rather contradictory. There is no universal consensus either about positive or negative future ADA price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Cardano projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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