How High Will Cardano (ADA) Go In The Next Years
✍️ 2 November, 2022 - 8:17 👤 Editor: Jakub Motyka
- Cardano (ADA), the proof of stake blockchain, is touted as the closest rival to Ethereum.
- Some of its recent upgrades, including the Vasil hard fork, inform the predictions below. How high will Cardano go in the next years?
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Cardano (ADA) currently trades at $0.4, representing a 4% decline in the past day and an 11% increase in the last week. Overall, the token ranks #9 in crypto listing with a market valuation of $13 billion, according to CoinMarketCap. How long will Cardano’s ADA go in the next years?
This write-up will look at some of the experts’ price predictions for ADA in the coming years. The most bullish projection places ADA at $500 due to an increase in Cardano’s institutional adoption. According to the forecast, Cardano, also dubbed a scientific blockchain due to its extensive research, is a more feasible competitor to Ethereum.
Vasil Hard Fork Is A Factor In ADA’s Bullish Outlook
Paul Levy, a senior lecturer at the University of Brighton in the UK, believes that ADA could rise to $2.45 by 2025. Levy pegs his prediction to the ‘culture of well-planned executed upgrades on Cardano.’ The protocol’s most anticipated update, Vasil, which aims for network efficiency and higher transaction speeds, went live on September 22.
Vasil hard fork enhances the capacity of decentralized applications, meaning that the demand for ADA tokens will rise, and so will its value. Similarly, another expert’s prediction puts the price range of ADA as high as $100, with at least $1.5 by 2025. The prediction is based on Cardano's innovative approach to smart contracts.
What Is Cardano, And How High Will Cardano (ADA) Go In The Next Years?
Cardano is a proof of stake blockchain, meaning that computers or nodes, stake their tokens in smart contracts so as to validate transactions. In this case, its native token, ADA, is used as collateral in the staking process. ADA token supply cannot exceed 45 billion, another factor informing the price predictions above. The implication of a capped supply is that as the market capitalization increases, the supply becomes scarce, and the value per token rises.
The last prediction in the aggregated experts’ forecasts puts the price of ADA at $15 by 2040, and as high as $20 by 2025. The projection is based on the historical prices of ADA - data from CoinMarketCap shows that ADA peaked at $2.9 in August 2021.
Although the price has since plunged to $0.4, equivalent to an 86% decline, it is not unique to the PoS crypto alone. The overall sector has lost over 60% in valuation, to $1.01 trillion as at press time. Once the market embarks on an upward trend, ADA is one of the most promising tokens to watch.
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- cardano-ada-how-high-will-it-go: Unsplash