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Live ADA/USD priceCardano to US Dollar
Anton Kharitonov, analyst at Traders Union, believes that Cardano will be traded at $0.7029 by the end of 2024, $0.7643 by the end of 2025, and the coin could be worth $1.1617 by 2030.
Cardano (exchange ticker ADA) is one of the most successful and popular cryptocurrency platforms among investors, which is positioned as a more advanced and faster analog of Ethereum (ETH). By market capitalization, Cardano is stably ranked in the Top 10 by CoinMarketCap.
Today, Cardano is actively used as a platform for other decentralized applications, smart contracts, NFT tokens, super-fast online payments and also as a popular means for investment. Cardano emission is limited and as of today, the majority of coins have already been issued, which makes investment value of the cryptocurrency higher.
Key differences between Ethereum and Cardano:
- Cardano offers a higher transaction processing speed than Ethereum. There was an expectation that the transaction processing speed would increase manifold from the current 15 TPS once Ethereum transitioned to the PoS algorithm, but that hasn’t happened yet. Meanwhile, Cardano offers a speed of around 250 TPS (transactions per second).
- Improved management system. Cardano employs a principle of democratic management and decision making through the Treasury mechanism, which allows the community to have a say in the development of the platform.
- Cardano’s staking rate on most exchanges is 1.5-2 times higher than Ethereum staking rate.
Ethereum has an advantage thanks to popularity and trust, aided by its compatibility with other blockchains through “satellites” – parachains, sidechains, L2 solutions. Similar tools have been developed for Cardano as well, although their number is fewer. Nevertheless, ADA (Cardano’s native cryptocurrency) continues to compete successfully with ETH (Ethereum), maintaining its position within the top ten cryptocurrencies.
Cardano evolution: 2017-2021
Cardano’s being on the list of the largest exchanges coincided with a dramatic increase in capitalization of the entire market. At the time of its introduction to the CoinMarketCap rating, the coin was priced at $0.02461. In less than 2 months, ADA price soared to $1.1711, having registered a more than 45x growth. It did not stay at that level, however, plunging to $0.03, which was almost an all-time low, following the bursting of the bubble.
In 2018-2020, ADA price remained in a narrow range of $0.03-$0.08. Traders used this period for short-term volatility trading within the channel.
The price regained its growth only in the second half of 2020. By the end of 2020, the coin price rose to $0.1754.
Analysts note ADA’s high potential as compared to BTC and ETH, which are the main market drivers. However, this concerns only those moments when the market starts to move from the bottom to all-time highs. If in the future BTC increases by more than 100%, Cardano could grow tenfold or more. This is clearly confirmed by the peak movements on the chart of the summer 2021.
On 3 January 2021, BTC price was $32,129.41, while ADA price was $0.1754 on the same day. BTC peaked in April and November 2021 at around 63K and 64K, respectively. ADA peaked in May and September at $2.17 and $2.96, respectively.
The conclusion is as follows: BTC drives the entire market, and Cardano price is rising as long as the BTC price increases. If BTC becomes twice as expensive, Cardano, due to general enthusiasm, can increase by more than 10 times. This rule, however, also works in reverse. If BTC decreases by 2 times, ADA will rapidly lose about 90% of its price.
Cardano evolution: 2022-2023
The year 2022 turned out to be perhaps the most difficult year for the cryptocurrency market in its entire history. After the bull run of the previous year, two unpleasant events happened: the spring bankruptcy of the Terra platform (LUNA) and the autumn bankruptcy of FTX, one of the largest cryptocurrency exchanges. In both cases, abuses on the part of top managers were found, and in both cases, large related projects were abandoned.
Lack of market transparency caused investors to lose their interest in cryptocurrencies. At the end of 2022, BTC dropped below 17K, more than 70% as compared to its historical maximum. Cardano dropped to $0.2464, losing almost 92% of its value as compared to the all-time high.
The year 2023 began with a mild market revival. However, despite the previous tenfold increase, the smooth movement of Bitcoin did not lead to an explosive rise in ADA price. In April, the BTC price rose by more than 80%, reaching 30K (the “golden middle” relative to the all-time high of 63K), and ADA added 84% to its price, reaching the level of $0.45. Then it rolled back below $0.29.
In July 2023, a key event that could have had a strong impact on ADA took place. In the U.S. the Securities and Exchange Commission (SEC) previously classified several coins, including Ripple and Cardano, as unregistered securities in direct violation of the law. The coins were excluded from the list of exchanges and a lawsuit was initiated against Ripple Labs, which went on for about 3 years.
In July 2023, a New York court found that these coins were not securities, and therefore they did not violate U.S. law. Against this news, ADA price spiked from $0.2868 to $0.3608, or by 25.8% within 1 day. Unfortunately, this news was not enough to turn the impulse movement into a strong uptrend. Due to general negative market sentiment, caused, among other things, by rumors of a possible bankruptcy of the Huobi exchange with risks for the Poloniex exchange, the Tron platform, and the USDT stablecoin, ADA price returned to the level of $0.29 a month later.
Using our review, you can check out Cardano price prediction 2024, and also long-term Cardano forecast for 2025 and even 2030. Will Cardano be able to repeat a strong growth after correction? We have collected forecasts from reputable experts to gain a better understanding of the issue.
Also in our article, you will be able to learn the latest signals on the ADA price for 1 day and 1 week. Cardano signals are based on the technical analysis indicators.
Do you prefer watching videos? Then watch the video summary of this article.
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