Price Analysis

Cardano (ADA) Price Prediction: Seeking long term investments? Go for Cardano

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Cardano (ADA) is a decentralized blockchain based platform with an underlying scientific philosophy. In the otherwise volatile world of the cryptocurrencies, Cardano claims to be backed by the strong scientific ideologies and is being built around it to sustain the negative forces of market fluctuations. It is based on the proof-of-stake algorithm called Ouroboros which keeps track of every transaction and maintains a record for future references. Hoskinson introduced Cardano to the world in 2015 and since then, the coin has shown immense progress to make it to the top 10 list of the cryptocurrencies. The funding of the entire project including upgrades is taken care through a demographic governance system.

Current Statistics:

Cardano Price Chart (05.04.2019 - 02.05.2019)The circulating supply of the coin is 25,927,070,538 ADA as against the total supply of the coin which is around 31,112,483,745 ADA. As per the top 100 cryptocurrencies list of CoinMarketCap, Cardano is ranked 10th in the top 100 cryptocurrencies list. The ROI is reported as 216.50%. As on May 2, 2019 at 07:44:06 UTC, the market cap is recorded at 1,776,856,814 USD, the price is 0.068 USD & 0.00001269 BTC and the 24 h volume is around 54,964,488 USD.

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Comparison:

As on April 5, 2019 at 05:34:03 UTC, the market cap was 2,278,706,347 USD, the price was recorded at 0.087 USD & 0.00001785 BTC. The 24 h volume was 182,768,247 USD. In the past one month, the price reached as high as 0.099 USD & hit the lowest to 0.064 USD. In the last 7 days, the highest price was 0.076 USD and the lowest was 0.064 USD. The downward trend of over -21% has been seen in the last 30 days.

Prediction:

The sentiment related to the cryptocurrency is high and investors feel that the best is yet to come for Cardano. With the recent announcement of Shelley update, the price surge can happen a little sooner than expected. Shelley enables the release of funds to various stakeholders and the expansion of the overall network through community interactions. Moreover, the company is also seeking more and more partnerships to increase its adoption and overall visibility. In the next 2 quarters, the price can rise as high as 0.2 USD and has the potential to reach over 0.9 USD by the end of the year. From a 2-year perspective, the price can be estimated at 10 USD and can surge to 50 USD in the next five years. Cardano is the best choice for those looking for long term investments and will start yielding good returns in the next two years.

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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