Cardano (ADA) Price Analysis: Cardano’s Only Hope Rests On Internal Restructuring; No signs Of Bull Now

eToro
  • Cardano’s internal restructuring will help booming its value.
  • There are no signs of bullish movement in the near future.

Cardano (ADA) is a crypto platform based on blockchain technology. It is written on the Haskell programming language, and it’s predominantly known for its less turnaround time and scalability of transactions. It aims for establishing democratic governance system which the international financial system can rely upon.

Current Statistics-

Cardano

eToro Crypto
  • Cardano (ADA) is the 10th largest cryptocurrency in the global crypto market.
  • The ROI (Return on Investment) of Cardano stands at 197.38%.
  • The total number of ADA coins in current circulation stands at 25,927,070,538.
  • The current market cap of Cardano as on 09th May at 01:24 UTC is 1,677,161,763 USD.
  • The value of each Cardano coin stands at 0.064688 USD and 0.00001066 BTC.
  • The current 24h volume stands at 35,914,047 USD.

Comparison-

Cardano (ADA) started the year at 0.4 USD mark, and it managed to retain a stable and sustainable growth until April. At the onset of April, when the whole market gained, Cardano took the lead and managed to double its value in just 4 days. However, this growth of Cardano was not sustainable after the 1st week of April. Now the coin is on a downfall. The market cap of Cardano (ADA) on 09th April was 2,218,977,686 USD. The value of each coin stood at 0.085585 USD. The current market cap is 24.41% less than the market cap of last month.

Prediction-

Cardano (ADA) is due been long due for internal restructuring. There have been some stories of possible restructuring, which is yet to be verified officially. If the plan goes well, the restructuring will include many factors like brand awareness, increased transparency and community interaction among others. This will surely help to build confidence in the movement of Cardano. But as of now, the coin does not seem to revive any time soon. We predict the coin to fall further to 0.045 USD level before rising. The rising part may come by the end of this quarter. Once it starts getting back on its feet, the resistance will be there at 0.09 USD. As per our prediction, the 2019 price will be there above 1.5 USD and by the end of 2020, Cardano (ADA) will surely breach the 10 USD mark.

Conclusion-

We advise the short term investors to wait until the end of this quarter to start investing. Holding for a long term will benefit the investors as there are multiple reforms ahead on the way.

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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