Cardano
50 fintech leaders predict Cardano trading above $0.60 by the end of 2022
There has been a lot of speculation about the price of Cardano (ADA) and what it will trade at by the end of 2022, particularly in light of the promising upcoming Vasil hard fork.
In particular, the consensus of 53 cryptocurrency and Web3 industry fintech experts predict that the price of Cardano will trade at $0.63 by the end of 2022, downgraded from $2.79 in their earlier January prediction. Looking further down the road, the panel thinks ADA will close out 2025 at $2.93 and 2030 at $6.54, according to the results of a Finder poll shared with Finbold on July 15.
Before the market crash in January, the expert group predicted that ADA would finish out 2022 at $2.79, which is now closer to their forecast for the coin’s projected worth in 2025.
In addition to this, they anticipate a significant drop in its value over the course of the next decade. The current prognosis for 2030, which is $6.54, is far more cautious than the prediction made in January 2022, which was $58.04 for that year.
Expert opinion
Paul Levy, a senior professor at the University of Brighton, predicts that the value of ADA will be worth $0.5 by the end of the year and $5 by the end of 2025.
“As a native token of a proof-of-stake blockchain with some firm inventor foundations, there is still a lot of potential in Cardano to challenge and even overtake Ethereum. Proof of stake is likely the future of most if not all crypto in the future. Cardano, despite current volatility, is well placed,” he said.
Meanwhile, 26% of the panel believes that the moment has come to sell ADA, while another 26%, including the creator of PLAYN, believes that the time has come to buy ADA. The “strong adoption, expanding features and a careful management team that is taking a quality first approach” are the reasons he believes it will reach $1.50 in December.
According to 51% of the panel, Cardano’s usefulness will rise due to the Vasil hard fork upgrade. Whereas 37% of the panel anticipates that this will result in a spike in the price of ADA.
However, one in five (20%) of the panelists believe that this will lead to a price rise in the long run, while just 17% believe that this would merely be an increase in the near term.
Fintech specialists split over Cardano
Dr. Dimitrios Salampsis, the director of Swinburne University of Technology, believes that the Vasil Hard Fork will bring about efficiency and optimization as a result of the increased amount of data that will be able to fit into each smart contract transaction.
“This is expected to improve speed of transactions and settlements and reduce transaction fees (compared to high gas fees in Ethereum). Moreover, I believe that the Vasil Hard Fork will increase the utility value and boost more innovative projects utilizing smart contracts.”
However, Kevin He, the Chief Operating Officer of Cloudtech Group, believes that the Vasil hard fork will result in a price fall in the immediate term based on observations of the price of other tokens following a fork.
Additionally, he is a member of the minority of 17% of those who believe that Cardano’s competitive advantage obtained by the Vasil Hard Fork would be rendered useless if Ethereum’s’sharding’ takes place.
“Cardano’s advantage of fast transactions will no longer exist after the launch of ETH 2.0. And due to the efficiency problem of the development team causing Cardano to significantly lag behind other competitors in smart contracts and dapp compatibility, coupled with the bear market blow we are not optimistic about the value of Cardano in the future.”
Over a third of panelists, or 37%, disagree with He’s assessment, and the remaining panelists are unsure as to whether Cardano will keep its competitive edge in the future (46%).
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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