What is Cardano? ADA Price Prediction 2021 to 2025 | 11.3 USD by 2030
ADA has done tremendously well in 2021 bull run. In this article, we have discussed what is Cardano, how it Cardano as a project and various other information related to ADA and the project. We have also mentioned about price forecast of ADA in 2021 till 2030. Read more to find out..
What is Cardano? Cardano is an advanced blockchain network for decentralized applications (DApps) and smart contracts. Cardano’s native, digital currency is known as ADA. It is popularly called the “Ethereum killer,” as it is a major competitor of the Ethereum blockchain. It has been created and designed for innovation, to make a change.
What we are going to learn?
Who developed Cardano?
Cardano has been developed and created by Input-Output Hong Kong company (IOHK) which is led by Charles Hoskinson, creator of BitShares and Co-Founder of the Ethereum blockchain network. It has an open source code base which means that the code can be viewed by anyone around the world.
When was Cardano Launched?
It was launched in the year 2015 and was considered unusual as it employed a proof-of-stake consensus mechanism or model called Ouroboros, which is being more widely used currently. This mechanism provides for a transaction validation system that is energy efficient and more environment friendly, unlike Bitcoin’s powerful and energy consuming mining.
Participants of the network are required to lock in their coins on the blockchain instead of using huge amounts of electricity or energy to mine Cardano to become validators as well as create new blocks for the network. This protocol of consensus was launched in July 2020 officially, which led to the transfer of the Cardano network from centralization to decentralization.
In March, 2021, Cardano stated that it seeks to employ a plan consisting of a range of updates for the advancement of the smart contract era by focusing on several industries such as education, health, and agriculture and more.
Other than Cardano’s white paper, the developers (Input Output HK) have additionally published five peer-reviewed scientific papers on the underlying technology of the blockchain, available for viewing by the public.
Before discussing about the price prediction for ADA, let us first understand about Cardano’s native token more.
Cardano’s Native Coin: ADA
Cardano’s native digital crypto coin is the ADA token as incentives for the use of the blockchain network. The coin has been named after a famous and recognized mathematician for computer programming, Ada Lovelace. The coin was launched in the year 2017 through an Initial Coin Offering (ICO), which was at its peak at that point in time. The ICO brought in funds of $62 million USD which was used for the expansion of the ecosystem.
After its launch, it faced drastic price fluctuations and the value rose by 5,900% in a mere matter of three months. The token gained recognition during the DeFi boom in the year, 2020. Ever since the “Mary” update, in the early months of 2021, ADA reported in a surge of more than 600% within two months.
Cardano has plans for users to stake ADA tokens for validating blocks. They are allowed to allocate their coins to full nodes or staking pool which comprises of the required knowledge as well as resources to run a node for validation. Validators are rewarded with ADA tokens. Users who have ADA tokens as part of their investment portfolio can not only obtain capital gains from price fluctuation in the market, but also earn a passive income by staking their coins.
The IOHK has developed a full node wallet which allows users to store their ADA tokens. It is a hierarchical deterministic (HD) wallet where users can create an indefinite set of keys from a singe seed. This is known as the Daedalus wallet recovery phrase. The wallet seeks to extend its support in the future for staking of Bitcoin (BTC) and Ethereum Classic (ETC), quantum resistant signatures, multi-signature transactions, to name a few.
ADA token details
It has a maximum supply cap of 45,000,000,000 tokens and the current total circulating supply is 32,844,877,815 tokens. The market cap of the ADA token is $40,613,037,127 USD and 1 AD token is equivalent to $1.27 at the time of writing this article. It is the 5th largest crypto coin in terms of market capitalization.
ADA Price History
The Cardano (ADA) token was launched on October 15, 2017 at the price of $0.02593 USD. The value of the token began increasing in the later part of the year from December and reached its first all time new high on January 3rd 2018 at $1.0797 USD. It faced a fall thereafter and sank lower , maintaining a bearish market throughout the year.
The value of the ADA token remained steady all through the year 2019 ranging from $0.04 USD to $0.03 USD. It faced an increase from early 2020 fortunately for ADA token holders. It constantly rose and beat its previous all time high by March 2021.
The value of the ADA token on May 16th, 2021 was reported as its new all time high, priced at $2.3091 USD. After this, it has fallen and recovered several times. The future for the token remains unpredictable but, it is ranked as the #5 token on Coinmarketcap in terms of market capitalization, which leads us to the conclusion that the future might not be bleak for the token, after all.
Now that you have understood about ADA’s current price, market cap, circulating supply and other tokenomics, let us try and understand technically about the Cardano project.
Structure: Learn more about Cardano
Cardano implements architecture of two layers, unlike other major blockchain networks that employ a single layered architecture. The first layer is known as the Cardano Settlement Layer which monitors the Peer-to-Peer (P2P) transactions conducted on the blockchain which is similar to the layer employed by other blockchain networks. The second layer is known as the Cardano Computational Layer which ensures chain security and provides for the deployment of smart contracts. This has been created for the network to adapt to dynamic regulations across the world without compromising on the innovative and creative aspects of the blockchain. The first layer, however serves as the primary layer and the base protocol, which will most likely never be changed.
Cardano has a total of three governing entities.
- The Cardano Foundation: This foundation is responsible for the promotion and standardization of the Cardano network’s ecosystem. It is based in Switzerland and is a non-profit organization which acts as a representative for the Cardano community. It assures a suitable environment for the development of Cardano. It also strives for increased adoption of the network. In terms of its functioning, it is similar to Ethereum’s EEA.
- Input Output Hong Kong (IOHK): It is a company which is in charge for the design, development and maintenance of the Cardano blockchain. The software development is driven by reviews provided by peers. IOHK implements open source and scientific development architecture for the creation of solutions that are sustainable in the long run.
- EMURGO: It is a multinational, for profit organization headquartered in Japan, which develops and maintains commercialized opportunities for Cardano to grow. It establishes partnerships with the network as well, for example, the the partnership with the Korean mobile platform known as Metaps Plus.When the right infrastructure of the network is placed, participants within the ecosystem will have control regarding the governance of the blockchain.
Improvements and future plans of ADA
As stated above, ADA token holders will be benefited in the future. The Cardano team wishes to decentralize the blockchain network’s governance with the next ranges of updates.
Cardano employs an efficient scalable network for its functioning through their multi layer architecture.
Charles Hoskinson, the founder of Cardano, Chief Executive Officer (CEO) of IOHK released an academic paper that consisted of a detailed plan named Hydra, a layer 2 scaling solutions which might possibly be released by the network in the upcoming future. The enabling of these solutions could result in the extension of the network’s capacity to process 1 million transactions per second. The implementation of this off-chain protocol began in March 2020.
Cardano (ADA) Pros: What I like of ADA?
- Cardano supports creation and deployment of DApps and smart contracts.
- It is a major competitor of the Ethereum network and offers similar functions with better scalability.
- It has a lot in store for the future in terms of decentralization and scalability.
- It has a strong social media presence for increased interaction within the Cardano ecosystem and provides constant updates about the blockchain network.
- It is an open sourced protocol.
- It is complex, yet innovative and unique.
- Many features and products are under development.
- It focuses on sustainability via its solutions.
Cardano (ADA) Cons: What I do not like of ADA?
- Ethereum is still preferred over Cardano and remains a market leader for smart contracts, DApps, DeFi tokens and NFTs,
- You can not make smart contracts on Cardano yet.
How can you buy ADA?
ADA tokens can be purchased on most crypto exchanges but a few leading crypto exchanges include Upbit, Binance, Bittrex, Huobi, and HitBTC. The crypto coin is essential for the governance of the blockchain network as well as for the consensus protocol.
How can you buy ADA with BTC and USD?
You can buy ADA with Bitcoin and against USD from the following exchanges:
|Binance||Sign Up Here||Read our Review|
|Coinbase||Sign Up Here||Read our Review|
|Huobi||Sign Up Here||Read our Review|
|Kucoin||Sign Up Here||Read our Review|
How can you buy ADA with INR?
If you are an Indian, you can buy ADA with INR from Indian crypto exchanges like WazirX, CoinDCX, BitBNS and Giottus.
|WazirX||Sign Up Here||Read our Review|
|CoinDCX||Sign Up Here||Read our Review|
|BitBNS||Sign Up Here||Read our Review|
|Giottus||Sign Up Here||Read our Review|
Cardano (ADA) Technical Analysis: Buy, Hold, or Sell?
The buy, sell or hold call is given based on some technical indicators like Oscillators, Moving Averages, and Pivots.
ADA USD Technical Analysis
Check the ADA/USD technical analysis and decide whether to buy, sell or hold ADA tokens. As per ADA/USDT technical analysis, ADA is a STRONG BUY for most of the time frame.
ADA BTC Technical Analysis
As per ADA/BTC technical analysis, ADA is a strong BUY in a monthly and hourly time frame. It is a BUY in a 4 hours, 1 day and 1 weekly time frame.
ADA Trading Price Chart Analysis
ADA BTC Price Chart
ADA USDT Price Chart
Cardano Price Predictions: ADA by 2021, 2022, 2023, 2024, 2025
Let us have a look at the Cardano price forecast for the year 2021 to 2025
ADA Price Prediction: September, October, November, December 2021
ADA Price Prediction 2021 to 2025 to 2030
|ADA by 2025||5.1||3.05|
|ADA by 2030||11.3||8.7|
Cardano Short Term Price Prediction
ADA Price Prediction for September 2021: ADA is expected to trade anywhere in between 3.39 to 1.49 USD.
ADA Price Prediction for October 2021: ADA is expected to trade anywhere in between 2.25 to 1.89 USD.
ADA Price Prediction for November 2021: ADA is expected to trade anywhere in between 2.59 to 2.07 USD.
ADA Price Prediction for December 2021: ADA is expected to trade anywhere in between 2.99 to 2.57 USD.
Cardano Long Term Price Prediction
ADA Price Prediction for by 2021 end: 2021 has been exceptional for ADA so far. Lowest price of ADA in 2021 is expected to be 0.175 USD. Highest price of ADA in 2021 is expected to be 3.39 USD.
Cardano Price Prediction for by 2022: 2022 for ADA is expected to be full of high and lows. Lowest price of ADA in 2022 is expected to be 1.5 USD. Highest price of ADA in 2022 is expected to be 2.54 USD.
ADA Price Prediction for by 2023: 2023 for ADA is expected to be sideways. Lowest price of ADA in 2023 is expected to be 1.14 USD. Highest price of ADA in 2023 is expected to be 2.23 USD.
Cardano Price Prediction for by 2024: 2024 is the year of ADA. Lowest price of ADA in 2024 is expected to be 2.1 USD. Highest price of ADA in 2024 is expected to be 3.45 USD.
ADA Price Prediction for by 2025: What will be the ADA’s price by 2025? ADA is expected to touch 5.1 USD by 2025. Lowest price of ADA in 2025 is expected to be 3.05 USD. Highest price of ADA in 2024 is expected to be 5.1 USD.
Cardano Price Prediction for by 2030: What will be the ADA’s price by 2030? ADA is expected to cross 10USD by 2025. Lowest price of ADA in 2030 is expected to be 8.07 USD. Highest price of ADA in 2024 is expected to be 11.3 USD.
Is Cardano a long term Hold?
Cardano is definitely not a scam. I like Charles Hoskinson, the founder, who is one of the former Ethereum developer. He has some strong ambition for the project. Provided the market sentiments stay strong, ADA is a good long term hold.
Cardano and ADA FAQs
Can ADA reach $100?
For ADA to reach 100USD, it needs to do more than 80X from the current price. Although we can’t be sure of what would happen in the near future, however, we can definitely say there is a very less chances of ADA reaching 100USD in the next 5 years.
Why is ADA so cheap?
ADA may seem cheap, but it is not. We should always look at the market capitalisation of a coin to determine whether the coin is cheap or not. ADA is one of the top 10 costliest cryptocurrencies.
Can Cardano make you a millionaire?
ADA can make you a millionaire, but do not be under the impression that ADA will one day cross BTC’s price. The best way to be a millionaire by holding ADA is to buy considerable size during the bear market and wait for the next bull cycle.
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ADA Final Call: Should you invest in Cardano?
The DeFi Wave is majorly focused on the Ethereum blockchain currently, but Cardano is moving ahead by offering and enabling smart contracts that are similar, but with increased and improved scalability. ADA is called an ETH killer. ADA has a strong community. The updates and development of Cardano in the future is definitely something to look forward to. Looking at the ADA price predictions and the way they have been growing, ADA can be a good investment. I would definitely like to have small amount of ADA in my crypto portfolio.
What do you think of Cardano? What is your ADA price prediction for 2021 (September to December) and the years to come? Let us know under comments.