Cardano is the world’s first decentralized blockchain solution ever to be academic, peer-reviewed. ADA is Cardano’s native cryptocurrency.
Cardano was released in 2015 and it uses the Ouroboros proof of stake technology. Its main goal is to run a public blockchain platform for smart contracts and to make “positive global change”.
So Cardano is the result of great scientific research initiated by Charles Hoskinson. In addition to supporting smart contracts, Cardano has the potential to be implemented in supply chain traceability and governance also. Since Charles Hoskinson was part of the Ethereum founders group, he split from Ethereum, embarking on a new project that would eliminate the flaws that Ethereum had, and would call it Cardano.
In 2017, the project raised $60 million through an ICO. EMURGO, the company that supports the implementation of Cardano is based in Japan. Also, a significant number of investors are based in Japan, which is why Cardano is often referred to as “the Japanese Ethereum”.
There are five stages (eras) that will take place for the full implementation of the Cardano blockchain: Byron, Shelley, Goguen, Basho, and Voltaire. Each phase contributes to the implementation of various functions in the Cardano blockchain. For example, in the Shelley era, Staking was introduced. In the Goguen rollout, work is underway to implement smart contracts.
In addition to the EMBURGO we mentioned above, there are two other companies that help run Cardano; the Swiss-based Cardano Foundation, whose role is to monitor the development of Cardano and Input-Output Hong Kong (IOHK) which builds the blockchain and the tools for its application.
Why Should You Pay Attention To Cardano (ADA) In 2021 and Beyond?
Cardano has gained a lot of attention in 2021 and its price has increased significantly. Cardano has actually become one of the fastest-growing blockchain assets in 2021 positioning itself in 4th place in Coinmarketcap’s list.
The sentiment for 2021 is favorable because most analysts and experts believe that the demand for Cardano might grow positively. The beginning of 2021 has been good for the crypto industry overall.
As mentioned above, Cardano is receiving a lot of attention and recently it went through the ‘Mary’ protocol update. At the moment Cardano’s price is $1.12 and its market cap is $35,6 billion.
Crypto analysts believe that Cardano’s price might grow significantly in 2021. Smartereum.com’s 5-year ADA price forecast (made in 2018) stands at $10. Taking into consideration that a very large team inspired by the vision of creating a next-generation cryptocurrency is guiding Cardano, it might turn into a reality in 2021 and beyond.
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Cardano(ADA) 2020 Price Analysis
In early 2018, analysts predicted that Cardano would cross the $1 mark and potentially grow further. ADA started at $0.03 in 2020 and quickly reached $0.07 by mid-February. The coin slumped to an intraday low of $0.01 on 13 March, driven by the wider sector selling at the start of the Covid-19 crisis.
The coin has risen exponentially since reaching the bottom of the year and peaked at $0.14 in August. ADA, however, started to fall lower in just a few days, decreasing to $0.077 by 24 September. After that, Cardano surged to $0.17 on December 1. In the last month of 2020, the price of the ADA fluctuated from $0.13 to $0.19, and it finished the year with a price of $0.18.
Cardano (ADA) Price Prediction 2021
Cardano has gained a lot of attention in 2021 and its price has increased significantly. It actually reached an all-time high of $1.48 on February 7, 2021. Among the crypto community, there are many hopes that Cardano may reach high levels in 2021.
The Coin Price Prediction is optimistically predicting that by the end of 2021, the ADA price may close at $2. Cardano’s projections for 2021 are remarkably diverse. Most of the forecasts are positive and it is obvious, with a relentless team behind it, that Cardano’s price could potentially grow. Digitalcoin which is known for a more conservative approach when predicting prices believes that Cardano might stay under the $2 mark, reaching only as high as $1.87 in 2021.
Walletinvestor is even more conservative predicting that Cardano’s price in 2021 could maximum reach $1.67.
Cardano trend line. Source: Walletinvestor
Trading Beasts is not so optimistic, also predicting Cardano to reach only as high as $1.86 in 2021. The most optimist approach comes from Previsioni Bitcoin. They believe that Cardano might reach $ 5.75 by December 2021.
2021 Cardano price prediction. Source: Previsioni Bitcoin
Cardano (ADA) Price Prediction 2023, 2025, 2026
When it comes to longer-term predictions forecasts are also positive, believing that Cardano price may significantly increase. According to Previsioni Bitcoin Cardano may reach $5.82 by 2023. Digitalcoin predicts Cardano to increase and reach $2.77 by 2023. By 2025 they predict Cardano to reach $3.87. Moreover, they are even more optimistic when predicting Cardano price for 2026 believing that the coin could reach as high as $4.40. Walletinvestor is more conservative predicting Cardano to reach as high as $2.58 in 2023. For 2025 they predict Cardano to reach $3.62, and then to have a slight increase and reach $3.82 by February 2026.
Is Cardano (ADA) A Good Investment In 2021?
Cardano can be said to be a good investment, as its price is expected to rise. There is a hype when it comes to Cardano, and expectations are high in the crypto community. Although there may be skeptics here and there, there is still a positive perception of Cardano.
According to the predictions mentioned above Cardano is a strong bet in the long term. The average projections indicate that from the beginning of 2021, the ADA price might rise upwards. Throughout the year, Cardano may realize its highest value upsurge and may record a new all-time high. Many analysts actually believe that ADA could reach $10 by the end of 2021.
What Will Be The Future Of Cardano (ADA)?
Speaking on how the coin has acted in the past, things appear to be fine. Digitalcoin confirms that in 2021 the price of Cardano may grow. That being said, Cardano is a third-generation cryptocurrency that aims to overcome the obstacles that Bitcoin and Ethereum have.
Future releases for Cardano could improve performance, scalability, and security, as stated by Digitalcoin and thus attract more investors. According to Digitalcoin ADA may reach $2.95 by 2025. The coin might hopefully hit $5.93 by 2028. This indicates that Cardano’s future is bright.
Where Is The Cryptocurrency Industry Headed?
The year 2020 was a landmark one for cryptocurrencies. This year, their unpredictable essence came to the fore recognizing that cryptocurrencies suffered a dramatic downturn due to the COVID-19 pandemic in March. But later in 2020, they returned strongly. Indeed, cryptocurrencies such as Bitcoin and Ethereum have proved to be robust. In recent months, market interest, both retail and institutional, in digital currencies has grown sharply.
The core technology behind cryptocurrencies, Blockchain, has expanded well beyond the digital currency industry and this year is likely to see fresh applications. Cryptocurrencies are getting special attention in 2021. They are currently experiencing a bull-run. Experts believe that by the end of 2021 cryptocurrencies will have significant growth, with Bitcoin as the leader. Crypto adoption and DeFi are growing significantly and are expected to have an even greater impact on the financial world in the future.
Predictions vary, some believe Bitcoin could reach $100k, some like Plan B, the creator of the Stock-To-Flow model believe it could go up to $288k by the end of 2021.
In addition to Bitcoin, 2021 is also the year of altcoins, or as it is otherwise called “altcoin season”. Cardano is proving to be one of the most promising altcoins, experiencing steady growth in 2021. Overall it is a great time to be part of the crypto industry in 2021 because the profit opportunities are great.
And it’s a good time to be alive and witness the first investments of big companies like Tesla, in cryptocurrency. Some even believe that cryptocurrencies are currently in the same position as the Internet in the 1990s, indicating that they can really have a big impact on the world of finance in the future.
Should You Invest In Cardano (ADA)?
Cardano relies heavily on the academic market, in comparison to the rivalry. The architecture of the platform was developed from the ground up using evidence-based approaches based on scientific philosophy, theoretical theory, and finalized by peer-reviewed analysis.
It is primarily targeted at solving the issues of scalability, accessibility, and longevity on Blockchain networks. Also, several partners are funding the long-term growth potential of Cardano.
If the predictions mentioned above turn out to be right then Cardano is a good investment option. Moreover, industry dynamics and analyst reviews say that Cardano is a good investment option. Since it is now altseason, altcoins are expected to have a significant increase in prices in 2021.
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