Cardano (ADA) Price Analysis: Check Out For ADA’s Supremacy As It Upgrades To Shelley And Backed Up By Powerful Partnerships

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Cardano, undoubtedly, is one of the most interesting crypto projects in recent days. It is unique for its excellent scientific philosophy and backing of peer-reviewed academic research. Its developers even include academic researchers from all over the world. It was initially conceptualized by Charles Hoskinson, co-founder of Ethereum. The distinctive feature of Cardano is that it is significant for its sheer amount of care.

Current status of ADA:

Trading value: 0.065928 USD

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Market cap: 1,709,330,175 USD

Market rank: 10

Circulating supply: 25,927,070,538 ADA

Price analysis of ADA:

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The above chart displays that at present, ADA is getting traded at 0.065822 USD or 0.00001258 BTC (UTC time 09:43). Its present market cap is worth of 1,706,581,933 USD with a 24h volume of 72,806,748 USD.

The above chart also showed that nearly 1 month earlier, ADA had a trading value of 0.090218 USD. So, within this period, the value of ADA has spiked up by -27.04%.

Future price predictions of ADA:

Already the major updates for ADA 1.4 and 1.5 have been done, and only some limited works are left to ensure smooth transitioning to the Shelley update. With the release of 1,5 version, there will be a shift from Cardano’s Byron era’s version to Shelley version. On IOHK Summit, the specifications of the Shelley update were released, and it stated that the primary aim is to bring decentralization to ADA where the community can control its ledger via stake pools. Another significant update of ADA is that Ethiopia’s Ministry of Science and Technology has currently signed a memorandum with the CEO of ADA. This partnership will greatly benefit ADA’s future prices as they will be using its blockchain in domestic agriculture.

Due to brilliant performances of ADA and its great updates, we think that ADA is really a promising cryptocurrency and it can trade around $0.045 by the end of this year.

Conclusion:

ADA is promising crypto due to its own capacity as well as for the effective partnerships it is concentration on these days. It is worth investing in this crypto for having good returns in the future.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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