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Price Analysis

Cardano (ADA) Price Prediction: Cardano Can Deliver a Bullish Trend With New Partnerships

Cardano is a decentralized open source platform based on scientific philosophy. Ouroboros, a proof-of-stake algorithm has been used to build this blockchain based system. The platform was founded by Charles Hoskinson (co-founder of Ethereum) and had been doing rounds for its faster transactions in a fully secured environment. The team of developers has been involved in extensive research to keep enhancing the features of the platform and have achieved some significant milestones since its inception. It uses the Haskell programming language and dominance governance system to allow continuous evolution over the course of time.

Current Statistics:

Cardano Price Chart (05.04.2019 - 04.05.2019)

According to the CoinMarketCap, Cardano is ranked at the 10th position in the top 100 cryptocurrencies list. The ROI of the coin is currently 217.87%. The circulating supply is 25,927,070,538 ADA, the total supply is 31,112,483,745 ADA and the maximum supply has been 45,000,000,000 ADA. As on May 04, 2019 at 08:34:04 UTC, the market cap of the coin is 1,861,852,524 USD, the price is trading at 0.07 USD & 0.00001224 BTC and 24 h volume is 78,202,085 USD.

Comparison:

The downward trend of over -12% has been seen in the past one month. The highest price peaked to 0.09 USD & lowest dipped to 0.06 USD in the last 30 days. As on April 05, 2019 at 05:34:03 UTC, the market cap was 2,278,706,347 USD, the price reached 0.08 USD & 0.00001785 BTC and 24 h volume was 182,768,247 USD. In the last 7 days, the highest price recorded was 0.07 USD.

Prediction:

According to the expert traders and investors, this is the best time to invest in Cardano in bulk as the prices will shoot up suddenly in the second half of the year. The strategic partnerships and growing support from communities is an indication that the prediction might come true for the cryptocurrency. Although the world of cryptocurrencies is highly volatile some significant factors have contributed to the success of many coins including Bitcoin. One of them is gaining the trust of the key investors and Cardano team is investing heavily on securing faith from the industry’s who’s who through its scientific approach & introduction of innovative features on a regular basis. The recent announcement of the integration of Cardano’s ADA with Ledger Nano S is regarded as a stepping stone in increasing its mainstream adoption. Cardano has also collaborated with AION in the recent past which can lead to a surge in prices in the coming quarters. From a 2 year perspective, the prices can reach as high as 5 USD, and in five years down the line, if the coin sustains the market volatility, the highest price can peak to over 50 USD.

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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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