Many things in the cryptocurrency world have changed since the introduction of Bitcoin in 2009. As time passed by, developers used to research and analyze blockchain technology to improve their crypto products. This resulted in improved crypto projects with way more features than the famous Bitcoin. To better understand these stages of development, people divided crypto projects into generations. Until today, three generations have passed.
To better portray this, we will take three projects as examples: Bitcoin, Ethereum, and Cardano. Bitcoin is a first-generation cryptocurrency; Ethereum is a second-generation cryptocurrency; Cardano is a third-generation cryptocurrency.
Throughout today’s article, we will focus on a third-generation project – Cardano to be more precise. Moreover, we will cover its fundamentals, its price history, and its price prediction.
Cardano (ADA) Fundamental Analysis
To begin with, let us briefly touch upon the fundamentals of Cardano. It all started in 2015, when, the co-founder of Ethereum known as Charles Hoskinson, began working on Cardano. Hoskinson initially released Cardano on the 27th of September 2017, more than two years after he began its development. This project is still actively being developed, having its stable release launched earlier this year, on the 13th of May 2021.
Cardano is a blockchain platform that uses a Proof-of-Stake (PoS) mechanism. Lately, the environmental concerns regarding the Proof-of-Work (PoW) cryptocurrency mining have been growing, meaning that people are directing their eyes towards liable and serious PoS projects – with Cardano being one of them. This network is also eligible for processing peer-to-peer transactions using its internal cryptocurrency known as ADA. Cardano has around 3000 ADA staking pools that secure the network and validate its transactions. When it comes to speed, Cardano claims to be able to process around 300 transactions per second, which is very high when compared to the crypto giant, Bitcoin, whose network is able to process only around 4 transactions per second.
They claim to be the first blockchain platform to be built and developed using evidence-based methods and research. That being said, Cardano aims to be a blockchain platform for innovators and visionaries, providing them with the necessary tools and technologies to create new possibilities for the masses and affect the world positively.
Similar to Ethereum, Cardano is a ‘smart contract’ crypto that aims to become the main pillar of the future of finance. However, because Cardano is still in its development phase, it does not have smart contracts yet. They state that the reason behind this occurrence is that they prioritize research over practice; in other words, they want to be prepared before making any major updates. This means that Cardano is at the end of the third phase of its roadmap – the Goguen phase.
Cardano is expected to launch smart contracts after releasing the Alonzo Hardfork. This might serve as a big booster on its price. Recently the founder of Cardano Charles Hoskinson in a live stream on Twitter announced that he would reveal the date on which smart contracts will be launched on the Cardano main network on August 13th.
Brief Update https://t.co/mDR4U0BFBW
— Charles Hoskinson (@IOHK_Charles) August 10, 2021
This year, Cardano made huge progress, building many partnerships and being listed in major exchanges like Coinbase. One partnership that helped solidify its claims of being a serious project and investment was that done with the Bloomberg Terminal – a tool used by professional traders. Furthermore, the University of Wyoming has started running staking pools for the Cardano blockchain to increase its funding.
All this news around Cardano may be too much, but we all know that Cardano is just getting started. This is just an indicator that the Cardano project is still under development and has a long way to go. The latest announcement done by Hoskinson was about the upcoming stable-coin for the Cardano network, Djed. There is not much known about Djed, though, but it was made public that the Cardano team is working on it. We must note that Cardano has a maximum supply of 45 billion ADA. As of right now, only 32 billion ADA are in circulation. The rest is said to be distributed through staking rewards.
Cardano (ADA) Price Analysis
According to Coinmarketcap, Cardano’s ADA officially joined the crypto market with a price of $0.02, in October 2017. Only two months after its initial release, ADA began experiencing huge growth, reaching the price of $0.13 at the beginning of December. This 550% price increase was huge for Cardano, yet, it was only the beginning. By the end of December, ADA had surpassed the $0.50 milestone, setting a new all-time high of $0.51; in other words, Cardano experienced a 2450% increase in its price in a span of two months. This growth continued until the end of the year, with ADA closing the year 2017 with a price of $0.63.
This cryptocurrency entered the year 2018 during a surge in its price. Only 3 days after the year started, ADA had set a new staggering all-time high, surpassing the $1 milestone and reaching the price of $1.07 by the 3rd of January. This was the highest trading value ADA would reach for a while. Afterward, the price of ADA started a slow downtrend, which resulted in the coin losing about 80% of its value by March 2018. ADA saw another spike in its price, reaching the price of $0.39 on the 29th of April. Its price fell again, and this time it went as low as $0.06. ADA continued to slowly lose its value, trading for $0.04 by the end of December 2018.
The upcoming year was not as fruitful as the others were for ADA. Throughout 2019, this cryptocurrency experienced small price movements. It entered the year with a price of $0.045 and left it with a trading value of $0.032. ADA experienced somewhat of an uptrend during May-June 2018 however, reaching a high of $0.092 on the 16th of June. The year 2020 was similar to that of 2019 regarding price movements. During the first months of 2020, ADA constantly jumped between $0.03-$0.06. This started to change by July 2020, with its price jumping to $0.14. ADA ended the year 2020 with a price of $0.17 and a trading volume of $1.4 billion.
Just as for many cryptocurrencies, the year 2021 served as a very fruitful year for ADA, with its price skyrocketing to $0.92 in February. The price consolidated itself around that price until May when ADA experienced another huge increase, reaching a trading value of $2.46 on May 16 and setting its current all-time high during the crypto bullish period.
At the time of writing, ADA has a trading value of $1.88 with a market capitalization of $59 billion, giving it the #5 market rank in CoinMarketCap.
Cardano (ADA) Market Price Prediction
The cryptocurrency Youtuber that goes by the name of CoinBureau continuously made videos regarding cryptocurrencies and their potential. In one of his latest videos, CoinBureau gives an in-depth analysis of the Cardano project. He even states that a portion of his crypto portfolio consists of ADA coins. After talking about the recovery of Cardano after the last market correction, Coin Bureau proceeds with claiming that ADA might reach a trading value of $4-$5 by the end of 2021.
According to the forecast done by WalletInvestor, Cardano might continue to grow steadily but slowly. Their prediction states that Cardano may have a trading value of $2.97 exactly one year from now. This would mean only a 100% increase in the price of ADA. As per the long term, their forecast shows a 566% increase in its value, giving ADA a price of $9.56 five years from now.
Another big cryptocurrency Youtuber that is known as BitBoy Crypto has previously touched upon the ADA cryptocurrency. Throughout the video, BitBoy Crypto elaborates on some news regarding the future of Cardano. Moreover, this Youtuber explains why most of his crypto portfolio is made up of ADA. To add to this, he states that Cardano may hit $8-$9 by the end of 2021 if another bull run begins – which is likely. He claims that ADA might continue its growth even after this year.
Crypto Academy Cardano (ADA) Price Prediction
After doing our own research and analyzing the market around Cardano, we came up with our own forecast for this promising cryptocurrency.
Cardano (ADA) Price Prediction 2021
Our prediction shows that ADA is likely to grow tremendously as we move towards the end of the year 2021. On a bullish note, with the release of smart contracts, ADA might even hit a yearly high of $5, setting a new all-time high.
Cardano (ADA) Price Prediction 2022
For the year 2022, we at Crypto Academy believe that ADA may continue its growth. Additionally, we believe that 2022 may be the year during which Cardano might surpass milestones and set new all-time highs. Our research shows that it is likely for Cardano to reach a trading value above $7 by April 2022. However, that might be the highest this cryptocurrency may go during the year. After reaching a yearly high above the $7 milestone, we believe that ADA may lose a portion of its value as it moves towards the end of 2022, leaving the year with a potential price of $4.20.
Cardano (ADA) Price Prediction 2023
We at Crypto Academy tend to look at all the factors when estimating the future price of a cryptocurrency. When it comes to Cardano, we noticed that its supply might prove problematic for its growth. Yet, if we compare the developments happening to Cardano, its supply looks like nothing. Moreover, Cardano has a maximum supply, which means that sooner or later ADA will become a deflationary asset. We believe that ADA might experience a yearly high of $9 sometime during 2023.
Cardano (ADA) Price Prediction 2024
Proceeding to the next year, we expect ADA to experience small price movements throughout 2024, too. During the first months of 2024, ADA might lose 10-20% of its value. However, our forecast shows that, as we move towards the end of 2024, the price of ADA may start to increase. By the end of the year, we believe that Cardano is likely to surpass yet another milestone by possibly hitting the price of $10.50.
Cardano (ADA) Price Prediction 2025
We believe that the year 2025 might be the biggest ever for Cardano. Our forecast shows that Cardano may experience a staggering price increase during 2025. On an extremely bullish note, ADA may reach a trading value between $40-$50 by the end of 2025, giving Cardano a fully diluted market capitalization of $2.2 trillion.
Cardano (ADA) Price Prediction 2026
We believe that 2026 might prove to be a steady year for Cardano, with small price movements from time to time. Throughout the months, Cardano may experience +-10% price movements at most. According to our predictions, this crypto may enter the year 2026 holding a trading value between $80-$90 and leave it with a slightly higher price.
How To Buy Cardano (ADA)?
You can buy Cardano in 3 easy steps:
Step 1: Create an Account on a Cryptocurrency Exchange
In order to buy Cardano, you must first decide if you want to acquire such cryptocurrency through an exchange or a Peer-to-Peer (P2P) transaction.
- If you decide that you want to obtain Cardano through a Peer-to-Peer transaction, you must first create a wallet that accepts and supports Cardano. Some handy examples for this would be Daedalus Wallet, Yoroi Wallet, and Ledger. Afterward, you will need to use the address of your wallet as the deposit destination of the ADA coins that you are seeking to buy directly from a Cardano owner.
- However, if you choose to buy Cardano using a cryptocurrency exchange, you must first create an account of a cryptocurrency exchange that has listed ADA.
Read more: Top 9 Cryptocurrency Exchanges in 2021
Step 2: Deposit Funds on Your Account
After creating an account on the exchange of your choice and successfully verifying it, you should deposit the number of funds you are interested in investing in ADA. This can be done in many ways, but the most common payment methods are bank transfer, Paypal, or directly using a credit/debit card. After you have deposited your funds into the account, make sure to locate a market pair that includes ADA. Some examples are USD/ADA, EUR/ADA, BUSD/ADA, BTC/ADA, etc…
Step 3: Buy Cardano
To wrap it up, write down the amount of Cardano you want to buy and click on the “BUY” button. Now that you have finally bought ADA, you must store them somewhere safe. This is usually done using a cryptocurrency wallet. There are a variety of wallets, with some being considered cold wallets and some hot wallets. Nowadays, most exchanges have their own wallets implemented into their platform and most of them are very secure – some even offer insurance for your crypto holdings.
Read more: Top 9 Cryptocurrency Wallets in 2021
Frequently Asked Questions (FAQ)
Is Cardano (ADA) a good investment in 2021?
Yes. Investing in Cardano in 2021 might be the safest cryptocurrency investment available right now. Many crypto experts and prediction websites, including us, believe that Cardano is likely to skyrocket sometime this year again. Some people even claim that we might never see ADA trading at a price this low again.
Where to buy Cardano (ADA)?
Cardano has been part of the 5 biggest cryptocurrencies for quite a while now. This has resulted in it being listed for trading nearly everywhere. At the time of writing, the most credible places to buy and sell Cardano are Coinbase, Binance, Kraken, and eToro.
Is it possible for Cardano (ADA) to hit $100?
Maybe. Hitting the price of $100 would mean that the fully diluted market capitalization of Cardano must be above $4.5 trillion. That being said, it is very hard for Cardano to reach that height soon. However, with the pace at this market is growing, we would not be surprised if ADA would hit the price of $100 by the end of 2030.
- Cryptocurrencies have been separated into three generations, with Bitcoin being first-generation, Ethereum being second-generation, and Cardano being third-generation.
- Cardano was created in 2015 but its mainnet release was in 2017. Moreover, its stable release occurred in 2021.
- Cardano’s network uses a Proof-of-Stake (PoS) mechanism to secure the network and validate transactions.
- Cardano is expected to launch smart contracts after releasing the Alonzo Hardfork. This might serve as a big booster on its price.
- The founder of Cardano revealed plans for releasing a stable coin called Djed.
- The ADA coin currently holds the #5 rank on Coinmarketcap with a market capitalization of $46 billion.
- According to the combined research of Crypto Academy and many other prediction websites, investing in ADA might prove very fruitful for investors.