Cardano (ADA) currently ranks 6th in the ranking of the most valuable cryptocurrencies. This altcoin is positioned as one of the most environmentally friendly cryptocurrencies. The closest ADA competitors are Ethereum (ETH), Avalanche (AVAX) and Solana (SOL). What to expect in 2022?
Features of the ADA coin
Cardano is a first level blockchain. The platform focuses on smart contracts and security and uses the Proof-of-Stake consensus mechanism.
The main goal of the project is to provide more advanced tools for developing enterprise-grade smart contracts and dApps.
The network uses its own modification of the Proof-of-Stake algorithm, which is called Ouroboros. This protocol is considered one of the most energy efficient and secure. It is important that the protocol provides high performance and network scalability.
The Cardano team continues to work on Hydra, a multipurpose scalability protocol that will power sidechains.
The native ADA coin is used for staking, paying commissions, paying out rewards and making deposits on the network.
ADА price analysis
For the first time after the launch, the coin was trading sideways. In the last decade of November 2017, the price of the coin soared from a modest $0.029 to $0.119. The coin closed 2017 at $0.719.
The growth of the coin continued at the beginning of 2018, but in general it can hardly be called rosy. In mid-December, the price collapsed and the year ended at $0.041.
For the next two years, the coin did not shine at all and traded below the dollar mark. The movement to new heights resumed only at the beginning of 2021. By mid-April, the price of the ADА rose to $1.48 and after a short decline, the $2 barrier was broken in mid-May.
Autumn 2021 has been a successful year for the cryptocurrency market in general and the ADAs in particular. In the first days of September, the historical maximum of the ADA price was recorded – $3.10 per coin. The triumph did not last long and until the beginning of December the price of the coin was declining. The year closed rather modestly at $1.31, but the price movement turned bullish. On January 18, a 30-day high of $1.63 was reached. At the time of writing, Cardano is trading at $1.15.
Cardano Price Prediction
Cardano Price Prediction for 2022
The short-term outlook for the coin is still mixed. The vast majority of popular indicators give bearish signals and some uncertainty remains in the market. If subtle hints of a recovery from the fall turn into a new uptrend, it is possible that by the end of 2022, the ADA price may stabilize at a level close to $1.4-1.5.
Expectations of growth to 12-15 dollars per coin, expressed a few months ago, now look too high.
Cardano Price Prediction for 2023
Based on the analysis of market trends, Wallet Investor expects that in 2023 the price of the coin may approach $2.46. Digital Coin gives an ADA price prediction of $1.62.
Cardano Price Prediction for 2024-25
The most realistic scenario today seems to be a price increase to $4.6-4.8 by the end of 2025.
No matter how optimistic the Cardano price prediction look, remember that it is terribly difficult to take into account all the possible factors influencing the cryptocurrency market. It is impossible to accurately predict the reaction of the market to certain events. For example, the price of members of the “Ethereum killer club” will be influenced by their main competitor. The next delay, success or failure of the expected launch of Ethereum 2.0 is one of the key factors setting the tone for the entire DeFi segment. How and when this will happen is still unknown.
Among other things, analysts may be wrong or wishful thinking. Therefore, before investing in any digital assets, do your own research.
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