Cardano is a blockchain enabled a decentralized platform that is fuelled by ADA coin. It is similar to that of Ethereum as it is also a smart contract platform that runs decentralized apps. But, basically ADA is a layered system, and it claims to be the first ever crypto that runs on a scientific peer review and assures of its safety. ADA was formulated by Charles Hoskinson, one of the co-founders of Ethereum and its developments get funded by Input-Output Hong Kong.
Current status of ADA
ADA is currently getting traded at USD 0.073536 (UTC time 02:16). With a market cap of USD 1,906,571,658 and a circulating supply of 25,927,070,538 ADA, it is the 10th largest cryptocurrency in the crypto sphere.
Price analysis of ADA
The above chart shows that ADA is currently getting traded at 0.073396 USD or 0.00001344 BTC (UTC time 02:19). Its present market cap is worth of 1,902,950,721 USD with a 24h volume of 87,661,500 USD. The same chart shows that approx. One month earlier, ADA had a trading value of 0.070765 USD. So, within this period, the value of ADA has been increased by 3.71% with 0.070451 USD as a good support resistance level.
Future price prediction of ADA
The first consideration that crypto investors must note is that ADA is still in a developing phase so, investing on the same currently, may be a futile idea. On the contrary, as its current price is still very low, so, investing in the same can yield great profits in the future. But that is also uncertain as the market condition is highly unstable and unpredictable. With Bitcoin and Ethereum as the first and the second-generation cryptocurrency respectively, Cardano is termed as third generation cryptocurrency. Moreover, Cardano is way too faster and secure than BTC. So, taking all the considerations, we predict its price to be around $0.45-$0.50 by the end of 2019.
It all depends on ADA’s progressiveness and current market condition, so far, its price stability is concerned. It’s better not to invest as of now and to wait for the right time when the market attains stability.