Cardano (ADA) – is one of the fastest growing cryptocurency in the world right now. Launched just September 2017, it has already produced a return of more than 1500% to its holders and investors. With its present market capitalization at $18 billion, there is certainly a lot more to expect from this cryptocurrency, given a favorable market condition. This capitalization makes it one of the 10th largest cryptocurrencies in the world today.
The main aim of the coins developers was to create a sustainable system for crypotocurrencies. In reality, the coin is gradually gaining recognition and awareness in the market.
Hi Bertalan. You bring up a good point, but as you may know. Cardano is built in the spirit of collaboration and efficiency. This is why it is completely open-source and patent-free. You may find this forum topic interesting as it relates to your question: https://t.co/84hK4ZAPPW
— Cardano Foundation (@CardanoStiftung) February 14, 2018
Open source technology is the main technology used for Cardano Ada, which makes it easy for more development to be carried out on the platform. So what is the price prediction for the cryptocurrency for 2018? Is the market for Cardano Ada going to move to the bull direction or bear direction? Let’s look at the present indications and the current market indices to find out where the cryptocurrency is headed.
The current market price of Cardano Ada is valued at $0.21 (as at May 24th) and currently ranked number 6 based on market capitalization. It reached an all time high of $1.33 early this year. With the current market speculations, it’s expected that the coin may bounce back to its highest value before the year runs out. But right now, Cardano Ada is seriously fluctuating and showing little signs of weakness (which is not just peculiar to the cryptocurrency). It seems most other cryptocurrencies are not doing really well presently.
Although it’s not quite clear why some smaller crypto currencies have been fluctuating in recent times, Cardano Ada actually saw a tangible profile boost last week. This, to some experts, is a result of the coin’s listings on Houbi (a giant in currency exchange) and the fact that it has been recommended by CNBC.
The decision by Binance to add Cardano tether and Cardano-binance to its trading last week will also increase the popularity of the coin.
How are investors responding?
Although Cardano Ada fell short in the latest cryptocurrency correction, majority of its investors still have strong faith in the coin. They still believe the coin will soon bounce back to its previous levels and even surpass those levels in the long run. Whether this will be possible this year remains to be seen. It depends on a lot of factors, including the activities of the developers and how other cryptocurrecies will perform this year. Since investors are still forecasting a bullish direction for the coin, a lot of them will still want to hold on to the coin and see how things go.
Investors are aware of the fact that the coin is still prone to more volatility as volumes might be impulsive. But majority still believe in the coin and they are willing to stick with it for a bit longer.
How the coin compares to others
There are other good performing cryptocurrencies at the top ten list as well, but Cardano Ada may have an edge when it comes to outlook. Looking at the predictions of the coin before the turn of the year, it’s expected to grow to $2.5 before the year runs out. That will be more than 200% gain in less than 7 months. Yes there are risks to bear considering the fluctuating and volatile nature of the coin (all coins basically have risks), there are strong indications the coin will soon bounce back and follow the track it was predicted to go.
Remember that Cardano Ada isn’t a blue chip crypto currency, so you have to face some volatility as a result of volume changes. But it’s an investment and those who finally reap the benefits usually stay unperturbed until the stages of fluctuations are over.
Present indicators and future outlook
Cardano Ada dropped about 23%, which is not just peculiar to the cryptocurrency. The past week in the cryptocurrency market has been a bearish one. But this is largely due to some activities of stakeholders in the market. The market is expected to return to an upward trend as investors are rallying around and still holding on to their investments. Moreover, Cardano Ada was listed on Cryptopia platform just recently. This move is expected to raise the current value of the coin, as Cryptopia is a strong player in the market.
Duncan Coutts, Director of Engineering at IOHK, explains the release of the first Cardano smart contract testnet, as well as the types and process of forthcoming testnets. Watch the video and read about it here: https://t.co/GCM7FsgEc7
— Cardano Foundation (@CardanoStiftung) May 30, 2018
Cardano Ada has rolled out a series of activities for this year, and some have already been achieved. Currently the coin has three trusted nodes which were set up by IOHK, Emurgo, as well as Cardano foundation. But this migration will be on hold, since Cardano is still operating on its own Main net and blockchain technology. However, the decentralization of the main net technology will be carried out at the 3rd quarter of the year.
With Cardano’s interest in exploring 3D technology that allows users explore and navigate through blockchain technology concepts, the coin may likely surpass all expectations from even its investors. The developers have begun experiments into VR systems to improve their grounds and explore the use of virtual concepts in the market. All these are indications that Cardano developers are really serious to establish a very strong cryptocurrecncy that will lead the market into an entirely new face.
Cardano Ada has been predicted to rally around $10 for the long term. At the present price of $0.21, it surely makes sense to invest in the cryptocurrency now the price is low. Moreover, the developers of the coin are doing a great job to keep it at an optimum performance until it gradually takes a continuous bullying trend. With the development and establishment of their blockchain technology, the open source system will surely be less difficult to utilize. With all these positive vibes surrounding it, there’s no doubt the coin has a great potential to be among the top three in the nearest future. All indices and indications show that it’s a great time to invest in Cardano Ada, because it seems he coin will turn up and pay off in the long run.