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Cardano (ADA) is a cryptocurrency currently worth under $1 USD per coin. However, investors have realized a 200% return on investment since 2021, making Cardano an altcoin worth a second look. The coin has a market cap of roughly $20.5 billion in June 2022. And, while it has dropped in price from a high of $1.59 a year ago, innovations on the platform promise growth.
What is our Cardano price prediction for 2022 and beyond? And what changes to the platform could help create a bull run for the cryptocurrency this year? Will Cardano reach $10 this year? Read on for our Cardano price prediction and to determine whether you should buy this altcoin right now.
What Is Cardano?
In February 2022, GOBankingRates.com called Cardano “one of the notable firms to watch” for the year. The unique process and cutting-edge technology of the platform, which houses ADA altcoins, has caught the eye of tech experts and investors, alike. GOBankingRates called Cardano the first peer-reviewed blockchain. Created by a nonprofit organization under the guidance of Charles Hoskinson, a co-founder of Ethereum, Cardano was reviewed by a team of scientists and academics before launch.
The platform uses proof-of-stake technology, rather than the energy-hungry, inefficient proof-of-work algorithm, to grant miners more mining power based on the amount of coin already in their possession. Cardano is on the path to being able to process up to a million transactions per second, according to GOBankingRates.com. Cardano is considered one of the more energy efficient cryptocurrencies on the market.
A Short History of Cardano
Cardano rolled out its platform in five distinct phases. The ultimate goal is to have a multi-asset ledger with verifiable smart-contracts for decentralized apps. The smart contract functionality arrived in the third phase, with the Cardano Alonzo upgrade.
Smart contract functionality would give businesses and developers the opportunity to use the blockchain to support NFTs, crowdfunding and DeFi Dapps, as well. It could also introduce capabilities such as IoT monitoring and cost-efficient supply chain management.
Investors seem to like the way Cardano is progressing through its phases, having completed the Byron (Foundation) phase, and the Shelley (Decentralization) phase. The next phases, in order, are Goguen (Smart Contracts), and then Basho (Scaling) and finally, Voltaire (Governance).
You might have noticed that the phases are cleverly named after famous personalities in history. The token of Cardano, ADA, is, likewise, named after 19th century mathematician ADA Lovelace, while the blockchain is named after Gerolamo Cardano.
While all of this is an interesting matter of trivia, investors want to know what Cardano will be worth in 2022.
What Will Cardano Be Worth in 2022?
Like many cryptocurrencies, Cardano experienced a significant dip in 2022, dropping from its high of $3.09 in September 2021 down to just over 60 cents per coin in June 2022, according to CoinGecko.com statistics. However, only 75% of its maximum supply of coins has been mined, which means there is still potential for investors to accrue coins.
The advanced capabilities of smart contracts on the platform could promise to drive ADA’s price higher in 2022. CoinPriceForecast predicted that ADA will gain some value in 2022 but won’t approach its record high over $3-plus. The site predicted it will reach $1.43 by the end of 2022.
Meanwhile, analysts at LongForecast.com believe ADA won’t even hit $1 in 2022. And WalletInvestor.com predicted the coin could reach $2 in 2022. These numbers are a far cry from the coin’s high and even further from the $10 value many investors are hoping for. If Cardano does hit $10, it most likely won’t be this year, next year, or any time soon.
What Is Cardano’s Price Prediction for 2025?
Will Cardano continue its climb in coming years? Forecasters believe it could. CoinPriceForecast.com said that Cardano could reach $2.67 by 2025, according to a report from The-Sun.com.
What Will the Price of Cardano Be In 2030?
It is difficult to project crypto prices nearly a decade out. But modeling which evaluates the price of Bitcoin compared to other cryptocurrencies shows that Cardano could reach $3.31 by 2030, InvestingCube.com reported.
However, keeping in mind that Cardano was once the third largest cryptocurrency — behind Bitcoin and Ethereum — if developments work out and the blockchain continues moving through its phases it could reach as high as $7.49 with enough investor support. Right now, Cardano is the world’s sixth largest cryptocurrency.
What’s a Good Price To Buy Cardano?
If you had bought Cardano when it launched in 2017, you’d have paid roughly 10 cents per ADA. If you invested $1,000 then, you’d have roughly $6,500 now. Some experts say that, with the expected changes coming on the platform and the culmination of the two final development stages, the cryptocurrency is a deal right now at a sub-$2 price.
As the blockchain gets faster and more efficient, its real value to users will rise, and ADA’s value should rise with it. The experts at Motley Fool suggest that Cardano could reach $2+ again, making it a good buy right now.
Of course, cryptocurrency is highly volatile and a risky investment at any price. On the bright side, Cardano looks to be reversing course right now, after steadily dropping in 2022. This could be a “set-it-and-forget-it” investment where you park your money and let it grow at least through 2030.
After a sharp drop in 2022, the cryptocurrency Cardano looks like it may be on the rise again. Experts suggest that buying the coin while it is under $2 could offer tremendous value and a high return-on-investment in the future.
However, cryptocurrency is volatile and anything could happen. Never invest more than you can afford to lose.
If you want to invest in Cardano, you can purchase it on some of the best crypto exchanges, including Binance, Coinbase, Nexo, Crypto.com and Kraken. You can also invest on a platform like eToro, which enables you to invest in a basket of cryptocurrencies, much like ETFs are used to purchase collections of stocks.
Information is accurate as of June 9, 2022.
Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.
PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
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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