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Price Analysis

Cardano (ADA) Price Analysis: Cardano May Hit $2 Mark, With Unique Technology And Stability as USP

Cardano is one of the most promising blockchain projects in the market at present. Instilled with unique technology and massive potential to overtake the scalability issue, Cardano is serving as a medium for fast and easy transfers. ADA is the cryptocurrency that powers this peculiar blockchain. Similar to Ethereum, it is a smart contract-based system and can be used to run decentralized apps. However, Cardano has a layered system and the first cryptocurrency which runs on a scientific peer review to ensure safety. In this way, Cardano (ADA) can be considered as the third generation cryptocurrency; Bitcoin and Ethereum being the first and second respectively.

CardanoToday, at UTC 05:56, Cardano (ADA) was trading at USD 0.083159 with a total market capitalization of USD 2,156,064,619. In comparison to BTC, it was valued at 0.00001595 per chip. Moreover, Cardano’s last 24 hours trading volume was approximately USD 68,598,979. At present, it is ranked at 10th position in cryptocurrency chart. On March 23, 25-days back, Cardano (ADA) was trading around $ 0.063781, however, since then there is a rise in its price, and it saw an unprecedented bounce back of 30.38%.

On January 4, last year, Cardano (ADA) made an all-time high and traded at USD 1.33. Since then its value got corrected and in last 52-weeks it back and frothed between the range of USD 0.389749 and USD 0.027393. Yesterday, it opened at USD 0.082265 and closed around USD 0.083783 with an intraday gain of USD 0.001518 (1.85%). Additionally, it marked the high and low of intraday trading at USD 0.083860 and USD 0.080451 respectively, which seems to be fairly stable considering the volatile nature of cryptocurrencies. Cardano’s trading volume for the previous day cumulated to USD 65,962,870.

Cardano (ADA) price prediction:

Even though Cardano exited 2018 without having too optimistic prospects, it entered 2019 with a slight bounce back. There is an optimism in price prediction of Cardano (ADA) based on the observation that it has seen rises on its daily and weekly charts. Another backing for Cardano (ADA) comes from its strong and dedicated community. In addition to that Cardano’s developers have a very solid roadmap with a long list of developments that are expected to be launched or finalized in 2019. It is also regarded as being one of the most stable currencies of the crypto market, which is why most are inclined to assume that Cardano (ADA) will perform positively this year. Different websites and analysts have different opinions. However, the overall writing on the wall is that Cardano (ADA) will see an upward trend this year and may hit a $ 2 mark till the end of 2019.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.
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