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Price Analysis

Cardano (ADA) Price Analysis: Cardano’s Polymath Association To Bring The Bull Earlier

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  • Cardano has partnered with Polymath on the security of the coins.
  • The medium-term bullish forecast places the value at 1 USD.

Cardano (ADA) has been partnered with a securities token platform, Polymath. And this is officially announced on the Consensus 2019 event by Cardano’s co-founder Charles Hoskinson and Trevor Koverko, Co-founder of Polymath. Polymath posted. “Polymath Announces Polymesh with Charles Hoskinson, Co-Founder of Ethereum and Cardano, and CEO and Founder of IOHK.” This collaboration is expected to increase the focus of Cardano (ADA) on the security of the cryptocurrencies. We predict the value of each Cardano (ADA) coin to reach as high as 1 USD by the end of 2019. To understand the reason behind this prediction we need to analyze the current facts first.

Current Statistics-

Cardano

  • Cardano (ADA) is the 10th largest crypto coin in the global crypto market.
  • The ROI (Return on Investment) of Cardano stands at 296.16%.
  • A total of 25,927,070,538 ADA coins are in current circulation.
  • The current market cap as on 15th May 03:44 UTC stands at 2,235,107,867 USD.
  • The value of each coin stands at 0.086207 USD and 0.00001075 BTC.
  • The 24h volume at the same UTC stands at 210,855,793 USD.

Comparison-

Cardano (ADA) has performed comparatively well in the market as far as stability is concerned. The coin started its journey with a 0.04 USD level. However, the major growth in the path of Cardano can be seen at the onset of April. The value is currently on a growing trend. The market cap as on 15th April was 2,202,180,634 USD. And the value of each coin was 0.084938 USD and 0.00001646 BTC. The current market cap and the value of each coin are 1.49% more than the figures for the previous month.

Prediction-

As mentioned earlier, the new collaboration is surely going to have some positive implications on the market of Cardano (ADA). Our prediction goes with a bullish medium term and long term outlook. The next resistance level should be at 0.1 USD. Supply zone should be at $0.1200, $0.1400, $0.1600 in the long term and the Demand zone should be at $0.0500, $0.03000, $0.01000.  By the end of 2019, the value should easily go past the 1 USD mark.

Conclusion-

We advise the potential new entrants to dive into the market now. This is the best time to lock in in order to get a profit over 10 times the current value if the holding will be for a longer term.

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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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