2009, for Bitcoin, and 2015, for Ethereum. But how many of us knew that the year 2015 marked another master cryptocurrency’s advent? Not many, until it became the third most popular crypto money, smashing 74,00% up last year! That’s the Cardano network, now considered as one of the most scalable systems, in the World Economic Forum.
Before we look into the Cardano future plans and price prediction, let us have a look at some of the unique features of this altcoin.
- What Is Cardano (ADA)?
- Who Are the Founders of Cardano?
- Fundamental Analysis
- Cardano Price Prediction 2021
|All Time High||$2.46 May 16, 2021|
|All Time Low||$0.01735 Oct 01, 2017|
|Circulating supply||31,946,336,676 ADA|
|Total Supply||32,704,886,184 ADA|
|Average ROI||632.58x USD|
What Is Cardano (ADA)?
Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change.
The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals” — helping to create a society that is more secure, transparent and fair.
Cardano was founded back in 2017, and the ADA token is designed to ensure that owners can participate in the operation of the network. Because of this, those who hold the cryptocurrency have the right to vote on any proposed changes to the software.
The team behind the layered blockchain say that there have already been some compelling use cases for its technology, which aims to allow decentralized apps and smart contracts to be developed with modularity.
Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.
Who Are the Founders of Cardano?
Cardano was founded by Charles Hoskinson, who was also one of the co-founders of the Ethereum network. He is the CEO of IOHK, the company that built Cardano’s blockchain.
In an interview for CoinMarketCap’s Crypto Titans series, Hoskinson said that he got involved in cryptocurrencies back in 2011 — and dabbled in mining and trading. He explained that his first professional involvement in the industry came in 2013, when he created a course about Bitcoin that ended up being taken by 80,000 students.
As well as being a technology entrepreneur, Hoskinson is also a mathematician. In 2020, his technology company donated ADA worth $500,000 to the University of Wyoming’s Blockchain Research and Development Lab.
What Makes Cardano Unique?
Cardano is one of the biggest blockchains to successfully use a proof-of-stake consensus mechanism, which is less energy intensive than the proof-of-work algorithm relied upon by Bitcoin. Although the much larger Ethereum is going to be upgrading to PoS, this transition is only going to take place gradually.
The project has taken pride in ensuring that all of the technology developed goes through a process of peer-reviewed research, meaning that bold ideas can be challenged before they are validated. According to the Cardano team, this academic rigor helps the blockchain to be durable and stable — increasing the chance that potential pitfalls can be anticipated in advance.
In 2020, Cardano held a Shelley upgrade that aimed to make its blockchain “50 to 100 times more decentralized” than other large blockchains. At the time, Hoskinson predicted that this would pave the way for hundreds of assets to run on its network.
How Many Cardano (ADA) Coins Are There in Circulation?
There is a maximum supply of 45 billion ADA — but at the time of writing, there was a circulating supply of about 31 billion. Five rounds of public sales of Cardano tokens were held between September 2015 and January 2017.
Approximately 2.5 billion ADA was allotted to IOHK once the network launched. Meanwhile, an additional 2.1 billion ADA was given to Emurgo, a global blockchain technology company that served as a founding entity of the Cardano protocol. Last but not least, 648 million ADA was given to the not-for-profit Cardano Foundation, which aims to promote the platform and increase levels of adoption.
Overall, about 16% of ADA’s total supply went to the project’s founders, with the remaining 84% being split among investors.
How Is the Cardano Network Secured?
Cardano is secured through an “environmentally sustainable, verifiably secure” PoS protocol that’s known as Ouroboros.
The project says that Ouroboros improves upon the security guarantees that are delivered by a PoW consensus mechanism while using substantially less power — claiming that it is four times more energy efficient than Bitcoin.
It is described as a blend of unique technology and mathematically verified mechanisms, with behavioral psychology and economic philosophy thrown in for good measure. Overall, the objective of Ouroboros is to achieve sustainable and ethical growth.
An incentive mechanism means that participants in the network are rewarded for their involvement.
Where Can You Buy Cardano (ADA)?
As one of the biggest cryptocurrencies in the world in terms of market capitalization, you shouldn’t have much difficulty in finding a major exchange to buy Cardano on including Binance, Bittrex, eToro, and HitBTC.
If you’re struggling to find a trading pair that unites ADA with your local currency, check out this guide on how to convert fiat into Bitcoin — giving you a gateway to buying altcoins.”
The Official Cardano Website States That, ‘The World Can Use Ada As A Secure Exchange Of Value Without A Third Party Mediation”.
Jump in to read more about the latest Cardano Future, Updates, ADA prediction, and many more…
The blockchain is halved into two layers, namely the Cardano Settlement layer and Cardano Computational Layer. Sounds complicated? Not anymore!
Let’s see how the layers add meaning to the network’s stars. The CSL stimulates the peer-to-peer transactions within the network using the Ouroboros mechanism. On the flip side, the smart contract mechanism is taken over by the CCL layer, allowing a seamless progression in both segments!
Cardano uses a PoS algorithm. However, it’s not the conventional Proof of Stake mechanism, but a model similar to it with a distinction. The consensus of Cardano is often labeled Ouroboros PoS and brings a different dimension to the creation of blocks.
Unlike PoS, where the highest token holders get preference, Ouroboros redefined this and made time slots called an epoch. Each epoch has a slot leader chosen by other nodes in the slot. These leaders carry out block creation in each epoch, and each leader gets a chance to do it. This mechanism reduces network congestion, increasing transaction speed!
Having a look at the Cardano Road Map, it’s quite interesting to see the network bringing new updates on a weekly schedule. Commencing the month, The network had an important update, creating the Deadalus Mainnet 4.1.0, which facilitates the wallet to support tokens in decimals. The team is also working on a Proof of concept mechanism currently. This week’s progress includes advancement in decentralization by adding Cardano API dependencies.
Cardano Price Prediction 2021
The asset started with a bullish trend at the beginning of the year. Later, the altcoin hit an all-time high of $2.4 as the Cardano Foundation published an infographic that suggests its ADA cryptocurrency is ideal for Tesla. When the market crashed, the price plunged substantially to $1.48 from $2.
Currently, Cardano is being buzzed because of its efficient Proof of stake mining process that limits the carbon footprint. If the network works more towards sustainability, then it might attract environment-conscious investors, hiking the price up to $3.294 by the year-end.
However, if the network does not carry out any remarkable development, it might merely carry over its current investors who stick to the currency due to its increased scalability and user-friendliness. In such cases, the price may move at a decent average figure of $2.761.
On the other hand, several critics are expressing the Synchronisation issues on the network, which might lead to missed transactions. If the network fails to work on fixing the matter, in the coming months, the price may slide down to $1.893.
Cardano Price Prediction 2022
If this year closes on reaching the predicted high, Cardano might resume the trade in 2022, bullish. So, the 2022 yearly trade may begin with bullish values between $3.244 and $3.342.
However, if this year ends with the price falling into a bearish trap hitting the lows, Cardano will start trading bearishly, initiating the year 2022. That is, early 2022, will see an ADA price between $2.298 to $2.521.
If more celebrities debate about the environmental aftermaths of crypto monsters like Bitcoin, Cardano’s price will eventually surge and even smash new ATH at $5.17, as ADA will act as a better alternative and many people will begin investing in this token.
On the flip side, if more problems arise with the usability of the network’s proof of Stake method, many investors may withdraw from the ADA community and the price might dip substantially to $3.99 levels.
ADA Price Prediction 2025
In five years from now, if Cardano implements its open voting system, the network might lose a sector of its traders risking the price to plunge near $7.86. However, considering that ADA has improved bug prevention systems, and if it might work efficiently with the same system down the years, the price may sail in average figures near $12.73.
Another way round, if ADA successfully flags some projects and collaboration that can further work to improve its two-layer security, the price might rise. Also, new updates in smart contracts might begin to start working efficiently, and so the ADA price might strike a maximum of $25.37 by the end of the next five years.
Thus, the average price for Cardano price prediction 2025 is $10
Cardano Price Prediction 2030
The more long-term the investment, the harder it is to predict its outcome. However, Cardano has a lot of things going for it. It has good adaptability to change, a solid roadmap, a dedicated and talented team behind it, and it is eco-friendly. All these factors mean it’s here to stay. While it is impossible for ADA price prediction 2030 and beyond, we think it is a good long-term investment.
It is likely that the ADA price will continue to rise and may even reach the $50 mark in 2030.
What Does the Market Say?
Here is what some eminent websites view on Cardano price prediction, which will give us a fairer idea
Smartereum author Adam Web believes that the future of ADA is bright where he claimed that the one-year prediction for the ADA token is around $2.50, with the potential to reach roughly $10 in 5 years’ time.
According to WalletInvestor’s algorithm-based forecast, the ADA prediction is revised from Cardano $2.175 to $3.319 in one year. Their estimates say that investment in ADA has a long-term earning potential of +116.21% in one year.
According to TradingBeasts, Cardano could reach $1.33 at the end of 2021 with a change of -8.8%. And, also ADA would be trading at $2.769 by the end of 2024.
This platform has provided an extremely strong Cardano price forecast of $2 in the future. In 5 years, they expect ADA to reach over $3.
Our Cardano Price Forecast
If ADA focuses on building the user base turning it from developing to developed network, as well as its protocol, it may gain new investors, raising the year-end’s figures to $3.114. Also, investors with FOMO will start investing in ADA since it is trending post-Elon Musk stepping back from Bitcoin.
This can further extend the bulls to rally near $3.77. If any negative perceptions and external forces strike as ADA is still a developing project, the bears may take over leaving the price to plunge deep to $1.881.
|Year||Potential High||Potential Low|
ADA Historic Price Sentiments
Cardano’s team raised more than $63M during its ICO. Over the first week from launch, ADA experienced significant growth, soaring in value and hitting a market cap of over $600M by October 1, 2017.
It quickly got listed on multiple top cryptocurrency exchanges. On November 29, 2017, the coin skyrocketed over 142.4% boosting its market cap to $3.5 billion.
In early January 2018, the value of the altcoin hit an all-time high of $1.162, peaking at a market cap of over $33bn. Woefully, the rally remained short-lived and the price fell into the bear market. The price fumed into ashes and declined drastically below $0.04, marking the end of 2018.
The first half of 2019 was bullish for Cardano (ADA). Initially, after reaching $0.05 by 9 January, the price declined before finding support at $0.035 on 6 February. The buyers showed increased interest and pushed ADA to $0.10 on 3 April.
After a slight pullback to $0.057, Cardano tried five times to break through the resistance at $0.10. On 26 June 2019, ADA managed to reach $0.11, but sellers stepped in and dragged the price down. The rest of the year was bearish for Cardano; it was only in December that ADA found support at the $0.03 price mark.
On a bearish note, ADA continued to trade at $0.03 during the beginning of January. With certain variations, the price reached $0.06 in the mid of February. Later, the coin started to decline. Shockingly, the price sank to $0.02 in March as the crypto market crashed due to the Covid-19 outbreak. With a steady recovery, the price moved to $0.15 at the end of July.
Later, the price again fell to $0.07 by the end of September. Further, the price managed to grow and dramatically hit $0.17 at the end of November as Bitcoin continued to grow high. With some variations, ADA ended the year 2020 with a trading price of $0.17.
Cardano is one of the best-performed cryptocurrencies. It might be a good investment if you are planning for a long-term investment.
Cardano is one of the coins with good potential, which means the future looks promising.
ADA could moonshot to $50. Cardano needs four and a half times the market cap to reach the level of ETH. Crypto expert says it is better to hold both ETH and ADA.
It might take some time, but it can reach if the developments happen as per the roadmap.
Disclaimer: No information in this article should be interpreted as investment advice. Coinpedia encourages all users to do their own research before investing in cryptocurrencies.