Cardano (ADA) is one of the most popular cryptocurrencies currently. In terms of market cap, it is the 4th-largest cryptocurrency (over US$59 billion market cap). Now, the question comes should you invest in it? Is it a good investment? Is it an Ethereum Killer? What will be its price by the end of 2021, 5 years later (2026), or in 2030? To answer all your queries, let me walk you through Cardano (ADA), its fundamentals, and the ADA price forecast.
Cardano network is the first of its kind P2P (peer-to-peer) reviewed decentralized blockchain solution. This protocol is powered by its native cryptocurrency ADA. Charles Hoskinson, the ex-cofounder of Ethereum, founded the Cardano protocol in September 2017. This token has an upper cap on its supply limit at 45 billion ADA tokens. Reports claim that around 95% of the ADA tokens are held by people from Japan. Cardano is considered as a 3rd generation blockchain and is significantly different from that Bitcoin and many other projects.
All these facts and figures (as of October 12, 2021) will help you to make a decision on investing in Cardano:
The Cardano blockchain has 2 layers:
The Proof of State (PoS) algorithm is used by the Cardano protocol where the consensus mechanism is often regarded as Ouroboros PoS. It, therefore, brings a different dimension to block creation.
Ouroboros makes time slots known as epoch, where other nodes in the slot chooses a slot leader. It is these leaders who lead in the task to create blocks in each epoch. The problem of congestion in the network is reduced to a large extent by increasing speed of transaction. This process is way ahead than the simple PoS mechanism.
New updates are brought by the network on a weekly basis. Recently, the Deadalus Mainnet 4.1.0 update has been released and the dedicated native tokens screen has been implemented. This helps the wallet in supporting tokens in decimals. Currently, the Cardano team is currently working on a Proof of Concept mechanism.
ADA price is hovering around US$2.14 at press time and it has increased by more than 1,105.94% in the last ten and half months.
By the end of 2021, the price of each ADA coin is expected to reach anywhere around US$2.761 to US$5.294.
By the end of 2022, the price of each ADA token is expected to reach anywhere from US$15.17.
Cardano’s price is expected to hit an all-time high price at US$25.37 in the next 5 years.
Cardano’s price is expected to reach an all-time high price at US$50 by 2030.
Always remember that cryptocurrency investment advice always comes with the risk of loss. As prices of cryptocurrencies are highly volatile, you should be ready to consider the loss aspect too. If you can’t afford to lose money, crypto investment is not for you. Instead invest in fixed income assets. To be sure about your investment, always go through the fundamentals, technicals, and price history trends of the Cardano market. Once you are absolutely sure about investing, go through the Cardano network price prediction, and then invest.