Price Analysis

Cardano (ADA) Price Analysis: Cardano Moves a Step Closer With Full Ledger Nano S Hardware Wallet Support

Cardano is the home to ADA cryptocurrency. It is used to send and receive digital finds with fast direct transfers, and it is possible via the use of cryptography. Besides, being a cryptocurrency, it is a technological platform that helps in running various financial applications that are used by individuals and financial institutions around the globe. Its platform is constructed in layers which gives the flexibility to allow upgrades of a soft fork.

Present status of ADA

Currently, ADA is getting traded at USD 0.089619 (UTC time 06:31). With a market cap of USD 2,323,569,215 and a circulating supply of 25,927,070,538 ADA, it is the 9th largest cryptocurrency in the world.

Price analysis of ADA

CardanoThe above chart shows that at present ADA is currently getting traded at 0.089485 USD or 0.00001696 BTC (UTC time 06:35). Its current market cap is worth of 2,320,071,171 USD, and its 24h volume is worth 115,184,072 USD. The same chart shows that approx. One month earlier, ADA had a trading value of 0.042922 USD. So, within this period the value of ADA has been increased by 108.48%. Its previous price point of 0.062780 USD has provided a good support resistance to its current bull trend.

Future price predictions of Cardano (ADA)

ADA recently moved closer towards wider acceptance after being fully integrated with the famous Ledger Nano S hardware wallet. This device is now responsible for protecting the private keys of the ADA network. With this news of Ledger integration, the value of Cardano almost remained the same. Moreover, ADA overtook Tether and Stellar Lumens very recently, and it is on the way to become the 8th largest crypto.

Considering the above issues, Smartereum believes that ADA token can reach $2.50 by the end of 2019 and it can reach $10 within five years. Crypto Town thinks that the value of ADA is supposed to be hiked up by 200% this year. US Lifted predicted that ADA could possibly reach $72.30 in 2019 and by 2020, it can reach to $410.45.

Conclusion

Cardano (ADA) is potential crypto, and with so many developments, it can be considered as a valuable cryptocurrency for long term investment.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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