Price Analysis

Cardano (ADA) Price Analysis: Cardano Remains Afloat With New Partnerships; Gets Support Of Investors

  • Cardano (ADA) increases mainstream adoption by partnering with Ledger Nano S
  • Bulk investments from investors are on the cards for Cardano (ADA)

Cardano (ADA) has always maintained a unique approach to attract huge investments, whether it is through the underlying scientific philosophy, the proof-of-stake algorithm Ouroboros or through strategic meaningful partnerships. Being introduced in 2015, Cardano has been able to establish its position firmly in the crypto market as indicated by the current market analysis.

Current Statistics:

Cardano Price Chart

  • Cardano is ranked at the 10th position in the CoinMarketCap chart of top 100 cryptocurrencies globally
  • The market cap of the coin as on May 11, 2019, at 09:14:01 UTC is 1,672,276,276 USD
  • The price of the coin is trading at 0.064 USD & 0.00000984 BTC
  • The 24 h volume is now 87,484,742 USD
  • The ROI of Cardano (ADA) stands at 196.13%
  • The circulating supply of the coin is now 25,927,070,538 ADA

Comparison:

As on April 3, 2019, at 21:34:01 UTC, the market cap of Cardano was 2,436,603,234 USD, the price of each coin was trading at 0.093 USD & 0.00001875 BTC, and 24 h volume was 232,512, 186 USD. The value of the coin has been on a downward phase of over -31% since the past 40 days and its moving between the range of 0.070 USD & 0.059 USD in the last 7 days. The coin can hit its first resistance level at 0.065 USD in the next one month.

Cardano Price Prediction until 2020:

The value of Cardano coin showed a steady movement between 0.040 USD and 0.052 USD till mid-March 2019 post which it started moving upwards till April. There has been a dip since then due to market fluctuations. The coin had achieved an all-time high of 1.33 USD on January 4, 2018, and the traders are eagerly waiting for Cardano to cross the benchmark in 2019. However, as the prices are relatively low at present, this is the best time to buy Cardano in bulk. With new partnerships, the price of the coin can go as high as 0.9 USD by the end of 2019 and can reach up to 20 USD in the next 2 years.

Conclusion:

In a very short span of time, Cardano has become one of sought after cryptocurrencies and is the only one with a huge scientific backing. Hence, bulk investments of today in Cardano can definitely yield huge dividends in the long run as the cryptocurrency can sustain the market fluctuations.

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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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