This post was most recently updated on April 24th, 2020
As per the recent studies of CoinMarketCap, all the cryptocurrencies have been struggling with their prices as its continuously fluctuating. This is happening from the last few weeks and Cardano is no expectation of this. There are many factors behind this struggle but the primary reason for this fluctuation is Corona Virus. The entire crypto market and global economies have been affected due to this virus. That’s the reason why many of the traders and investors have started selling their cryptocurrencies.
So before we discuss detailed about Cardano price prediction and clear few doubts from your mind like, is it right time to invest in Cardona, is ADA is good for investment or not, what will be the future price of Cardona. Let’s get started from the basics and start understanding this Coin in a better way.
- 1 What is Cardano?
- 2 Cardano (ADA) Price Prediction 2020
- 3 Cardano (ADA) Price Prediction 2023
- 4 You May Also Like: Ethereum Classic (ETC) Price Prediction 2019, 2020 Future Forecast
- 5 Cardano (ADA) Price Prediction 2025
- 6 Is Cardano (ADA) a Good Investment Option?
- 7 Cardano (ADA) Price Future Forecast
- 8 Where to Buy Cardano (ADA)?
- 9 How to Buy Cardano (ADA)?
- 10 Where to Store Cardano (ADA)?
What is Cardano?
The Cardano platform is very much similar to Ethereum as this platform is used for the development of smart contracts and decentralized applications. As we know Ether is used to make transactions on the Ethereum platform similarly, ADA is the key asset for Cardano which is mostly used to send and receive digital funds. Beyond this, if we look at technological improvements many features are not available in Ethereum and many other cryptocurrencies. The most surprising thing is that the complete idea of this platform was of Charles Hoskinson who is also co-founder of Ethereum.
In this situation, if anyone in the crypto market who can replace or compete with Ethereum is one and only Cardano. Also, they are working on Scientific Physiology and have become the first cryptocurrency to entered in the medical facilities. Now due to some technical advancement in recent times, this cryptocurrency is in limelight. The transaction speed on this platform is very fast compared to their competitors, also they don’t charge transaction fees for the small transaction which makes them different from other cryptocurrencies.
|Market Cap||$784,110,258 USD|
|Total Supply||31,112,483,745 ADA|
|Max Supply||45,000,000,000 ADA|
|Highest Market Price||$1.33 USD|
|Lowest Market Price||$0.017354 USD|
|Launch Date||2 October 2017|
Cardano (ADA) Price Prediction 2020
Now as we move forward to the next section and this is very important, Cardano Price Prediction 2020. The crypto market is very volatile so it’s really difficult to predict the future price of any coin. In the first three months of 2020, Cardano has gone through many ups and downs but the best part for them was the first half. At the start of this year, they signed the partnership with PWC which is a live streaming company. Both companies are looking forward to competing with Ethereum and bring more investors.
The growth of the first two months was then affected by the Corona virus and suddenly their prices started dropping. Within three to four months the world may get recovered from this corona effect and then we will again see the spike in the cryptocurrency prices. Also, Cardano has some upcoming projects which are going to release in a few months so this will make an impact on their prices.
Looking at the potential of Cardano and its upcoming projects we can say that by the end of 2020 this coin may reach up to $0.088 USD.
|Month & Year||ADA Price Prediction|
|April 2020||$0.048 USD|
|may 2020||$0.054 USD|
|June 2020||$0.041 USD|
|July 2020||$0.052 USD|
|August 2020||$0.067 USD|
|September 2020||$0.059 USD|
|October 2020||$0.045 USD|
|November 2020||$0.062 USD|
|December 2020||$0.088 USD|
Cardano (ADA) Price Prediction 2023
Cardano has also planning to launch the third generation of a crypto platform where they will try to overcome the problems faced by other cryptocurrencies. Also, they are planning to make the transaction faster than ever before. Overall they are going to work on the performance, security, and scalability of the Cardano. So by doing this, they will try to beat Ethereum and become a first-choice option for the investors.
You May Also Like: Ethereum Classic (ETC) Price Prediction 2019, 2020 Future Forecast
In the upcoming time, people will prefer Blockchain technology as they are more secure and trusty for transactions. According to our experts, Cardano will touch $0.924 USD.
Cardano (ADA) Price Prediction 2025
If you are looking for long term investment then we can say that Cardano may grab top spots in the crypto market. Also, they will bring a new partnership and this will help them grow faster. During these 5 years, Cardano may enter the top 10 coins list and it would not be surprising for any of us. By the end of 2025, Cardano may reach $2.59 USD. So if you are planning to invest your money in cryptocurrency then Cardano is a good option.
Is Cardano (ADA) a Good Investment Option?
Now as we have discussed so many things about Cardano (ADA) everyone one of you has only one question that is Cardano a good investment option? Here I will share my opinion about this coin, what’s good and what’s bad in this coin. So hopefully after going through the following points, you will make your decision. But always remember there will be uncertainty in all the cryptocurrency market.
Pros of Cardano (ADA)
The best thing about Cardano is that they provide the platform for creating a decentralized application and smart contracts. Most of the famous currencies like Bitcoin and Litecoin don’t have this feature.
Along with this, they have technological advancements and solutions for current scalability issues, and many other cryptocurrencies failed to provide this. Definitely, this will make them different from others.
Cardano has a protocol named Ouroboros, under this protocol they have increased security and scalability at the same time. On the other side remaining blockchains thinks that if they scale they will lose the security.
- Speed of Transaction
The transaction speed on this platform is almost double if we compared it to other platforms. Also, they don’t charge transaction fees for small transactions.
The best part is that Cardano has its own highly secured wallet which will be a bonus for its investors. The wallet is specifically created to store ADA coins and it is known as Daedalus.
Cons of Cardano (ADA)
- Less experienced track record
Due to recent advancements in the technologies, Cardano is in limelight from the last eight months and so there is very little historical investment data available for us. Also recently it has become the youngest coin to enter the top 10 coins of the market. So there is a risk to invest your money in this coin.
- Under Construction
Most of the features that have promised by the ADA team are under construction so it will take time to add few features. And the success of this coin is completely dependent on the successful implementation of these features.
- High Competition
There are many new smart contract platforms are available in the market and that is also well established. Platforms like Ethereum, NEO and EOS are also well established in the market so they will give tough competition to Cardano.
Cardano (ADA) Price Future Forecast
As per the reports, the 95% investors of ADA are from Japan that’s why it is also known as Ethereum of Japan. At this moment Cardano prices are continuously fluctuating and due to the Corona effect, traders have started selling out their coin which results in a 10.44% drop in the price. It will get back upwards as the effect of the corona virus goes down. Looking at the current scenario Cardano is having a very bright future and in the upcoming time, we will see a sudden upward spike.
Like all other cryptocurrencies Cardano prices are also dependent on Bitcoin’s performance, if Bitcoin prices get hike then Cardano’s price will get upwards directly. And we have seen right from the start of this year that Bitcoin is doing well so we can expect something big in the upcoming time. Also at this moment, the price of this coin is low so this is the right time to invest your money. In the upcoming five years, the price of ADA coin may reach $2.59 USD so this cryptocurrency has a very bright future.
Where to Buy Cardano (ADA)?
At this moment it’s very difficult to directly purchase the Cardano with Credit card, as like other cryptocurrencies. But there are few platforms like eToro, Coinmama, Binance Exchange, HitBTC Exchange, Bittrex Exchange, Gate.io Exchange where you can purchase this cryptocurrency.
How to Buy Cardano (ADA)?
If you wanted to buy Cardano then Binance exchange is one of the trustiest platforms in the market. Here are the basic steps required to purchase Cardano (ADA) which will make your way easy to buy.
How to Buy Cardano on Binance Exchange
1. Create an account on Binance
2. Add Funds to your Binance account
3. Now you can buy Cardano (ADA)
Where to Store Cardano (ADA)?
The first thing you need after buying the cryptocurrency is the wallet to store your coins, so after purchasing the Cardano you will need a wallet. There are few options available for wallets where you can store your Cardano (ADA) and here we have listed all of them.
- Daedalus Cardano Wallet
- Guarda Cardano Wallet
- ADA Lite Wallet
- Infinito Cardano Wallet
- Trezor Wallet
- Ledger Nano S
- Atomic Cardano Wallet
- Yoroi Wallet
Out of these Daedalus wallet is one of the best wallets and this wallet was specially created to store the ADA coins. And the advantage is that it is the official wallet which was created by the Cardano team.
Now after going through the complete article, we come to know the Cardano Price Prediction for the short term and long term. And hopefully, all these things will help you to make your decision at the time of investment. All the prediction made here is completely based on market studies done by experts and we all know the Crypto market is volatile. So you can’t predict the future of any cryptocurrency.