One of the most popular blockchain platforms, Cardano, has had a fine year in development and research. The ADA cryptocurrency price, however, seems to lag behind, locked in a months-long downtrend. Most recently, though, it scored some gains, as ADA remained unaffected by the insolvency of FTX. In this article, we will weigh the prospects of ADA catching up with its organic growth, as well as take a look at the forecasts of top industry experts.
All ADA Price Predictions
- Cardano bulls hope December 2022 still has a surprise in store. Regardless, a composite ADA coin price prediction for the remaining 2022 forecast a continued correction;
- A new ATH for Cardano is not expected in a year or two. The best chances of it are predicted to occur only in 2025 when a new bullish market cycle is expected;
- What a new all-time high it will be, though! Experts estimate the target for the maximum price of ADA to be around $17.50.
What is Cardano and ADA?
Cardano is an open-source smart contract platform. Since smart contracts are self-executing programs that work when certain conditions are met, Cardano can be thought of as a decentralized global computing network. Even though it is decentralized, the transactions need to be checked and approved, and blockchains use the consensus of nodes for this purpose. Cardano is secured with a Proof-of-Stake consensus algorithm specification called Ouroboros.
Cardano is one of the most well-researched blockchains out there. The developers build on peer-reviewed research, and there is no single white paper for the platform.
One of the key contributors to the research and development of Cardano is Charles Hoskinson. After having taken key roles in the Bitcoin Association and the foundation of Ethereum, he founded Input Output Hong Kong (IOHK) in 2015. Another key contributor is Jeremy Wood, co-founder and Chief Strategy Officer at IOHK. With Emurgo Co., founded in 2017, the two companies lead the development of Cardano.
More about Cardano and ADA is covered in our Beginner’s Guide to Cardano. Make sure to check it out!
Cardano Price History
ADA Price in 2017–2019
A public pre-sale of ADA was held in several tranches over the period from September 2015 to January 2017. It was not an ICO because instead of tokens companies backing Cardano sold vouchers for redeeming ADA in the Daedalus wallet. As soon as it was launched, ADA started being traded on the market.
At the start, in late 2017, the Cardano platform was a federated mainnet: it was secured by a few pre-approved validators and the Cardano Foundation itself. In its earliest years, Cardano was a work in progress but it still saw a few significant updates.
However, the market trends had more effect on the ADA price. Its previous all-time high was reached when the rest of the crypto market was on the rise. In the previous cycle, it hit $1.35 at its peak, on January 1, 2018. From there, for more than three years, it would not reach this price level again and stay below 1 cent on average.
ADA Price in 2020–2022
More big things were coming for Cardano in mid-2020 with the Shelley phase rolling out to the mainnet. After it was locked in, the Cardano blockchain transitioned into the real proof-of-stake consensus algorithm. On the ADA price chart, the uptick is clear, although the 2021 Bitcoin bull run helped the ADA price skyrocket much more noticeably.
In 2021, ADA was enjoying particularly robust trading volume, and as a result, grew in price considerably. By May, it exceeded $2, and after a brief pullback, on September 2, 2022, scored an all-time high price of $3.10. However, as it was the peak of the bull market, so it was the peak for Cardano’s price. For the rest of 2021, and in 2022 so far, the downtrend in ADA has been prevailing, albeit with some local breakouts.
At the moment of writing, ADA ranks 8th by market capitalization and is worth $0.3382 according to CoinMarketCap.
What influences the Cardano price?
Being a research-driven blockchain platform, Cardano puts great weight into each advancement of the protocol. Cardano’s roadmap is divided into several epochs, each of which will fundamentally expand on the functions and completeness of the Cardano blockchain platform.Not to mention, a general expectation is that it will affect ADA price, too!
The most recent major hard fork Vasil was not a contentious one, so it did not result in a new network, blockchain, or cryptocurrency. On June 29, the Cardano blockchain hard fork combinator (HFC) confirmed community readiness and set a hard fork date of September 22, 2022. In brief, the Vasil upgrade increased network capacity and added quality-of-life improvements for Plutus, Cardano’s smart contract language. The previous Cardano hard fork of comparable magnitude, Mary, brought native assets to this blockchain in early 2021.
As of 2022, a couple of the trends that can help take ADA off the ground are NFTs and DeFi. Cardano bets big on both of these for good reasons.
At the beginning of November, the number of NFTs minted on the Cardano blockchain exceeded 6 million. At the same time, their 30-day trading volume scored a 170% gain.
With smart contracts, tokens, and dApps being made available on Cardano, it is a fully-fledged platform fit for building an ecosystem. The next step is to find and support the builders.
Cardano is also a popular digital asset in CeFi services thanks to its staking mechanism. A South-Korean “crypto bank” Delio has teased integration of ADA staking to its digital wallet.
Most of the heavy lifting to make Cardano more widespread and recognizable is done by the Cardano Foundation. It launches initiatives with governments and holds events such as the Cardano Summit every year. This year’s one is due on November 20–21, when the future of Cardano and its ecosystem will be discussed.
These events are vital to securing partnerships that would see the Cardano platform be applied in education, healthcare, chain supply management, and finance, as the official site describes.
ADA on Twitter
I think this bear market will prove foundational in demonstrating Cardano as the most reliable blockchain.— Dan Gambardello (@cryptorecruitr) November 13, 2022
I talk a lot about Cardano hitting $500B & $1T market caps, and this is why.#Cardano $ADA
Crypto influencer Dan Gambardello is one of the unofficial Cardano ambassadors in the crypto community. His ADA price prediction for the immediate future is a $1 trillion market cap this bear market. It sounds like a lot but that would make one ADA cost around $3.
CONFIRMED: #Cardano introduces Hydra for Payments to help $ADA blockchain carry out over 1,000,000 transactions without any significant increase in fees or processing time— Michael Wrubel (@michaelwrub) November 12, 2022
Michael Wrubel shared the news about Hydra, a Lightning Network-like payment channel system for Cardano. Previously, IOHK announced that the Hydra team were ready to present their SDK to the public.
Should I become a #Cardano maxi? 😅— Duo Nine | discord.gg/ycc (@DU09BTC) November 13, 2022
Let me know in the comments. 👇 pic.twitter.com/DsVYDdGtaT
Some call Cardano an “Ethereum killer”. While at the moment Ethereum remains #2, and Cardano lags behind, it still packs a lot of benefits over its main competitor.
Cardano Price Prediction for 2022
Technical analysis from BeInCrypto claims Cardano technicals are far from being healthy. ADA price sunk below a long-term support level of $0.35, and a bearish divergence in RSI points to a possibility of a short-term break below the level. As a result, the minimum price it can reach in the near future is $0.16.
FTXStreet also analyzed ADA charts but in addition to technical analysis, they complemented it with on-chain metrics. The altcoin’s price was left relatively unaffected by the FTX meltdown but movements of whale holdings and a drop in daily active addresses caused a 5% discount in ADA. Citing RektCapital, they provide short-term ADA targets: $0.51 for a move to the upside, $0.33 if the bears win for the time being.
YouTuber Cheeky Crypto, using Eliot Waves, considers the current move to the upside to be a fakeout. The RSI in the overbought area proves this claim. The ongoing fifth wave can take ADA further down to $0.27–0.29. On a larger scale, a downtrend can come to an end upon reaching the minimum ADA price in the $0.22 area.
Cardano Price Prediction for 2023–2024
In a Cardano (ADA) price prediction by CoinCodex, they use projections of the tech sector growth to estimate how high can ADA go. Therefore, if all goes well, ADA will be trading between $ 0.654751 and $ 1.134626 in 2023 and $ 0.838147 and $ 2.52 in 2024.
Cardano Price Prediction 2025 and 2027
CryptoTicker gives an optimistic Cardano price prediction for 2025. Their reasoning is both in fundamentals and recurring market trends: in 2024, the new cycle is due to be started by the Bitcoin halving. In the meantime, Cardano developers keep working on roadmap milestones, such as the Basho era. Their estimated range for ADA in 2025 is $1.35–17.50.
On the other hand, Coinpedia is less bullish, although they believe ADA will keep growing. Their expected maximum price of ADA in 2025 is $3.4952, and on average, the trading price will stay between $1.8098 and $2.6103.
As for five years in advance, BitNation predicts that ADA will reach $2.10 or even $2.31, making the average price of ADA in 2027 $2.21.
Cardano Price Prediction 2030 and 2032
Looking as far as the end of the decade and ten years in advance, even experts can only guess the future prices. Nonetheless, some do try.
According to the Traders Union portal, by 2030 ADA will have grown by 292%, and by 2032 — another 292%. Despite the decent figures of growth, this is tamer than previous forecasts: $1.31 by the end of 2030 and $1.52 in mid-2032.
Cardano Price Prediction by ChangeHero
The prospect of Cardano overtaking Ethereum anytime soon is far from a certainty. The Cardano platform still lacks some utility Ethereum had at launch, and now that the latter is a Proof-of-Stake blockchain, too, the robust ecosystem built with ETH is more of a deciding factor. Cardano boasts higher throughput and scalability but migration is not very easy, since it uses a different smart contract language.
With that in mind, ADA has more chances to remain in the top-10 crypto by market cap. If the entire crypto market is on the rise, ADA can feasibly reach a $1T capitalization again. The only question is when, and during the next cycle after the 2024 Bitcoin halving seems to be the most reasonable answer.
How to buy Cardano (ADA)?
Did you know can buy Cardano tokens on ChangeHero at the best rates and with no registration? Here is how:
- Choose the currencies on the home page, amounts, and the type of exchange. Provide your wallet address in the next step and check the amounts;
- Send in a single transaction the sum of the cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
- All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
- As soon as the exchange has been processed, your ADA is on the way to your wallet.
Our customer support is available any time, any day in the chat on the website or through the email: [email protected].
On our website, you can also buy ADA and sell it with a bank card for fiat currencies through our partner’s widget. Check out the full instructions to learn how!
As far as blockchain platforms go, Cardano remains a safe but not overhyped alternative to Ethereum. Once it stands on its own, it will stand a chance to gain real recognition.
Let us know what you think about our Cardano price prediction! Join the discussion on Twitter, Facebook, Reddit, and Telegram. Subscribe and get a daily stream of informative content from our team.
This article does not constitute financial or investing advice. No price prediction or forecast is guaranteed to provide exact information on the future price. Past performance is not indicative of future results.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investing in cryptocurrencies only after careful consideration and analysis and at your own risk.