Cardano (ADA) Price Prediction for 2020, 2021, 2023, 2025, 2030
The problem of scalability as the number of transactions and smart contracts increases is becoming more urgent. According to this indicator, Bitcoin is far behind VISA and MasterCard, and Ethereum hacks have added optimism to cryptocurrency developers who are focused on improving the blockchain’s network security.
One of the most promising attempts to solve these two pressing problems is the cryptocurrency Cardano. What is Cardano (ADA)? What are the prospects for this cryptocurrency? Investors are keen to know the future price prediction for Cardano (ADA). Throughout this article, we’ll review ADA cryptocurrency price predictions, starting with the project’s fundamentals and ending with expert predictions.
Charles Hoskinson, a mathematician and entrepreneur, and scientist Jeremy Wood organised the IOHK platform in 2015. Both programmers worked with Ethereum, a platform for creating decentralised online services based on a blockchain, and decided to create their own digital financial service technology. (Note: you can read our blog article What is Ethereum?) The IOHK platform develops cryptocurrencies and blockchain technology for academic institutions, government agencies and corporations..
At the same time, starting in 2015, Charles Hoskinson worked for two years on developing the Cardano cryptocurrency. The project’s developers include many people from academia, which is reflected in the cryptocurrency’s ticker symbol, ADA. This three-letter symbol was chosen in honour of Ada Lovelace, considered the first programmer in history, while the project itself is named after the medieval Italian scientist Gerolamo Cardano.
The creators promised an entirely new type of crypto coin developed on numerous scientific studies. The Ethereum blockchain was used as Cardano’s basic framework. Developers promised to solve the problems of the most popular cryptocurrencies, such as scalability and security. In their opinion, the development of the Cardano blockchain on a Haskell language would make their cryptocurrency one of the most protected and valuable in the world. Haskell is a programming language on which the security systems of banks and military networks are developed.
Cardano’s developers — who include not just university professors, but also young geek students — announced a solution to the scalability problem. As they see it, Cardano would bypass Bitcoin, which can handle only seven transactions per second.
Cardano entered the market in mid-autumn 2017 and, in a matter of days, gained hundreds of millions of dollars in capitalisation. On 4 January 2018, the cryptocurrency reached its peak of almost $35 billion in market capitalisation and a price of $1.32 per ADA token. After that, the figures went down; at the time of writing, Cardano was changing hands for about 10 cents per coin, and its capitalisation was estimated at $3 billion. Given the extreme volatility of cryptocurrencies, these figures are still quite impressive.
What is Cardano (ADA)?
The Cardano project is a platform for smart contracts. The developers assure that it’s an innovative product with unique functionality. Cardano is founded on scientific philosophy and numerous studies and is positioned as a third-generation blockchain (Blockchain 3.0).
The principle work of Cardano (ADA) is based on the algorithm of proof of stake (PoS), which is considered more advanced than the algorithm of Bitcoin, proof of work (PoW). The PoS algorithm is used to operate the network and protects the network from attacks and increases its stability. Work is currently underway on a voting system and the platform management model. According to developers, the voting system for suggesting improvements and funding will be available as early as October 2020, which means that the first votes for all ADA holders will be held in October.
The PoS algorithm gives more capabilities to create and add a new block to the blockchain to users with more tokens in their account. This reduces the load on the network, decreases electricity costs for miners for electricity and increases transaction processing speed by increasing the speed at which new blocks are found and added. You can learn more about mining in our cryptocurrency mining tutorial for beginners.
On the other hand, proof of stake isn’t really an ideal algorithm because, if a particular user or group holds a large amount of funds in a wallet, they’ll be able to control the network mining, which would compromise the payment system’s decentralisation. However, modern cryptocurrency payment systems try to combat this by adding an element of randomness when choosing a channel and other methods to preserve decentralisation.
In addition to proof of stake, the network uses the Ouroboros algorithm, which provides high security comparable to Bitcoin’s system security. The platform itself is written in the Haskell programming language, which allows the system’s high functionality. The Ouroboros algorithm is used to operate the network, protect it from attacks and increases its stability.
The key idea behind Cardano is to build a future global digital economy on blockchain and smart contracts. The Cardano ecosystem will be self-sufficient and capable of autonomous development and change depending on conditions. Decentralised applications (DApps) will be created on the Cardano platform.
The plans this year are to launch a beta version of the platform. Users will be offered the opportunity to evaluate the work of DApps. Next year, plans are in place to scale the network in order to create an autonomous system that operates without any third-party intervention. In addition to that, the project plans to release its own plastic card, which will be tied to a wallet. All users will be able to easily pay wherever the cards are accepted; the amount will be instantly converted from the user’s ADA cryptocurrency account.
Cardano (ADA) features
Here are the three main features of the Cardano (ADA) cryptocurrency:
- There is no mining for the Cardano cryptocurrency in the traditional sense; all 45 billion ADA tokens are created in advance.
About 35 billion were distributed among the creators and within the preliminary ICO. The rest are being gradually put into circulation after finding a new block, with an additional percentage charged for ownership. This uses the traditional scheme of inflation control and distribution of most of the cryptocurrency in favour of a limited number of people. So far, however, there has been no information about any speculation.
- The Ouroboros confirmation algorithm is used.
This algorithm is advertised as being fully secure and suitable even for bank transactions. However, because the work goes on a modified ‘delegated confirmation of the share’ (DPos), everything depends on the right choice of ‘delegates’ who will confirm the transaction. The rating is usually based on the size of the balance or activity of the nodes. Because only a narrow circle of people own most ADA coins, there is no guarantee that the cryptocurrency won’t be artificially inflated as Ripple and NEO are constantly accused of being.
- ADA features accelerated confirmation.
The creators of Cardano have a policy that the slow work of Bitcoin and Ethereum is because chains in the blockchain are becoming longer and therefore require more time to confirm the invariance. It’s sufficient to check only the last few transactions and perform the required action. Of course, this makes the process faster, but it’s important to maintain a balance between speed and security. These algorithms may be sufficient for a library but won’t be enough for financial and government authorities. It’s important to check the entire history of transactions, not to try to work faster than competitors by any means necessary. Although the software allows users to set the required depth of verification, doing so decreases the speed of Cardano’s cryptographic software.
Cardano (ADA) Price Analysis
As of 5 October 2020, Cardano (ADA) is ranked 11th by market cap at $3,034,641,842. The cost of one ADA token is approximately $0.097538/0.00000912 BTC. Here is a summary of Cardano:
Cardano (ADA) Price Today
Circulating Supply/Total Supply
31,112,484,646 ADA / 45,000,000,000 ADA
Daily Trading Volume
$1.33 (4 Jan 2018)
$0.017354 (1 Oct 2017)
Cardano’s (ADA) Price History
In early 2018, analysts made a prediction that Cardano (ADA) cryptocurrency would exceed the one-dollar psychological mark and possibly continue to grow. The first part of that Cardano (ADA) price prediction materialised quickly, but the cryptocurrency failed to increase further and moved down instead. In support of Cardano, it is important to mention that 2018 marked the beginning of the bear market in which many projects suffered. Despite the downside price action, the Cardano team kept working on the project and achieved progress. They implemented the important Shelley update, and a voting system for suggesting improvements and funding will become available in October 2020.
In October 2017, ADA token was placed on the cryptocurrency exchanges with an initial price of $0.02. High interest and demand for the cryptocurrency allowed ADA to set an all-time high at the $1.33 mark on 4 January 2018. Unfortunately, the pullback across all cryptocurrency markets dragged Cardano (ADA) down. After reaching an all-time high, ADA fell to $0.013 in April, where the rebound took the coin to $0.04 in early May. The rebound was temporary, and Cardano’s price fell as low as $0.026 by December 2018. Cardano (ADA) closed the year at $0.044.
Cardano (ADA) Price Prediction 2019
The first half of 2019 was very positive for Cardano (ADA). 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.
Cardano (ADA) Price Prediction 2020
Cardano’s crypto price 2020 prediction is much better than it was in 2019. Cardano performed well at the beginning of the year, rising to $0.072 by 13 February. ADA may have continued to grow, but the entire crypto market has suffered, and Cardano fell as low as $0.02 by 13 March. After testing all-time lows, the crypto coin’s price rebounded to as high as $0.155 on 27 July, showing a seven-fold increase in price since the March drop. A slight pullback followed that to $0.075. Currently, Cardano looks bullish, consolidating above the $0.075 support level and trading at $0.097 per coin.
Cardano (ADA) Technical Analysis
According to ADA/USD’s four-hour chart, from mid-March to late August, Cardano was trending up above the 200-Day Moving Average, indicating a strong bullish trend. It was only in late August that ADA broke the 200-day moving average (200MA) support level and retested the $0.076 support that had previously served as resistance in prior years. After that, Cardano bounced back up to pierce the 200MA, currently consolidating above it and aiming to continue its bullish uptrend.
Cardano (ADA) is currently trading above 200MA, under the double bullish cross of the 12-day and 26-day Exponential Moving Averages, and the 200MA with 26 EMA, respectively. Today’s realistic Cardano (ADA) price prediction shows that the asset looks bullish and aims to continue its growth. The asset’s bearish trend should be considered when it trades below 200MA and breaks the $0.076 support level.
Cardano (ADA) Price Prediction for 2020, 2021, 2025, 2030
The Cardano cryptocurrency looks very promising, so the number of investors willing to invest in ADA is gradually rising. The forthcoming October update of the voting and governance protocol may lead to a price increase. Let’s look to the future and analyse the probable scenarios of Cardano’s mid-term and long-term price prediction from experts for 2020, 2021, 2025 and 2030.
Trading Beasts Cardano (ADA) Price Prediction for 2020, 2021, 2023, 2025, 2030
Per Trading Beasts’ Cardano price prediction, ADA’s price will rise in 2020. They forecast that price will reach $0.123 by December 2020. For 2021, Trading Beasts predicts that Cardano will hold in the range of $0.106 and $0.17. In subsequent years, the price will continue growing and could go as high as $0.23 by 2023. This is a fairly conservative price prediction for ADA.
WalletInvestor Cardano (ADA) Price Prediction for 2020, 2021, 2023, 2025, 2030
According to WalletInvestor’s price prediction, Cardano is a good long-term investment. They predict that ADA may reach $0.30 in December 2020. WalletInvestor expects that Cardano will trade in the range of $0.10 and $0.50 in 2021. Cardano (ADA) will keep growing and will rise as high as $0.70 by 2025.
Coinliker Cardano (ADA) Price Prediction for 2020, 2021, 2023, 2025, 2030
Coinliker has given the most bullish price prediction on Cardano for the upcoming years. They predict that ADA will grow to $0.47 in just one year! Cardano will keep growing and may reach $1.85, with an over 5000-per cent price increase in just five years.
CoinSwitch Cardano (ADA) Price Prediction for 2020, 2021, 2023, 2025, 2030
The CoinSwitch news website concurs with the previously mentioned experts that the price of Cardano will rise in 2020. That said, Cardano is a third-generation cryptocurrency, which should overcome the problems BTC and ETH encountered. As CoinSwitch states, future Cardano updates will improve its performance, scalability and security, thus attracting more investors. According to CoinSwitch’s price prediction, ADA may reach $3 by 2025.
Cardano (ADA) Future Value Predictions in General
Does Cardano have a future? There is every reason to believe that Cardano will change the industry’s rules of the game, just like Ethereum did in its time. Investing in this project now could potentially bring solid returns. The only thing that could stop the bullish momentum is negative market sentiment. If general market sentiment becomes negative, the asset’s price may suffer along with other cryptocurrencies.
Will Cardano (ADA) Go Up?
Currently, Сardano is under the influence of a strong upward trend. The successful launch of the Shelly update has boosted ADA’s functionality to a higher level, thus bringing more value to the blockchain network. Cardano has gained tremendous confidence in its actual use, as experts say it is one of the truly decentralised networks in the blockchain industry. The odds of ADA going up are pretty high, considering the October voting and governance update.
Cardano (ADA) Price Prediction Today
Cardano boasts an impressive development team and a long-term vision for its blockchain and cryptocurrency. While the platform’s primary goal is to use ADA crypto, the blockchain can reach a new level, and its capabilities will extend its applicability to participants of the cryptocurrency ecosystem. Cardano’s solutions for scalability, transaction speed and increased network security will bring benefits for investors in the foreseeable future.