Ada is the native token of the Cardano network-one of the oldest projects in the field. It was established in 2015 to overcome the problems that plague other level 1 blockchain networks, such as scalability and interoperability, while maintaining the same network Safety.Its creator is Charles Hoskinson (Charles Hoskinson), he is Ethereum, His vision was to commercialize blockchain technology, rather than keep it as non-profit, which led him to leave Ethereum.
The stated purpose of Cardano is to provide a platform for dApp development. Although it may not be a unique use case, the difference between Cardano and similar projects is its technology. Cardano employs a team of highly qualified scientists and uses peer-reviewed research as the basis for all technological developments in the ecosystem. Cardano is managed by three entities: IOHK, which oversees technology, the Cardano Foundation, which is responsible for platform expansion, and Emurgo, which works with entrepreneurs and dApp developers to commercialize the platform.
The network is protected by a proof-of-stake consensus protocol first developed by academic researchers, called Ouroboros. It allows users to put their ADA tokens in the mining pool or delegate them to the mining pool for rewards. It is one of the earliest PoS solutions, which is more energy efficient and environmentally friendly than proof of work. ADA is also used as a currency to support transactions within the network.
Cardano has a strong start in 2021. Due to the high public enthusiasm for cryptocurrencies, it soared to more than $1.3 in February. The price of Ada continued to rise in the spring and hit a record high of US$2.46 in May. After the general trend of the crypto market reversed and the price began to fall, Cardano followed closely, and the price of Ada gradually fell. However, by July, it still did not break below $1. In addition, Cardano’s price chart has been in a wide wedge shape since its most recent peak, which is very promising for Ada’s future.
Although it is almost impossible to perform 100% accurate technical analysis of Cardano cryptocurrency, on this advanced technical analysis tool of TradingView, you can view real-time aggregated ADA buying and selling ratings within the selected time frame. The summary of ADA/USD is based on the most popular technical indicators — moving averages, oscillators and pivots.
Below we have collected the most reliable price forecasts for Cardano (ADA) from popular forecasting platforms.
According to WalletInvestor, the price of Cardano will rise from $1.309 to $3.013 within one year. This makes ADA a great investment. The long-term profit potential is 130.18%. The forecast price at the end of 2026 is 9.710 USD.
When answering the question about whether Cardano is a good investment, TradingBeasts responded in the affirmative. From the perspective of 2021, the price of the token is expected to reach US$1.71967 and drop to US$1.45323 by the end of 2022.
In the DigitalCoin analysis, the price of Cardano cryptocurrency will rise from today’s $1.32134 to $5.172359 in the next 5 years. By 2022, it will rise to US$2.1958834 and continue to grow in 2023-2024. Based on this prediction, Cardano is a profitable long-term investment.
In 2021, the average price of Cardano will rise to $1.331. In 2022, the price of Cardano will rise sharply to an average of US$2.0208333.
From the analysis cited above, it is clear that Cardano’s (ADA) forecast is quite contradictory. There is no general consensus on positive or negative future ADA price trends. In fact, the possible future growth depends on various factors: announcements, new technological solutions for the Cardano project, overall encryption environment, legal status, etc. We would like to remind you that you must conduct your own research (DYOR) before investing in any cryptocurrency.
Disclaimer: This article should not be considered as providing trading advice. The cryptocurrency market suffers from high volatility and occasional arbitrary fluctuations. Any investor should research multiple viewpoints and be familiar with all local regulations before investing.
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