Cardano Price Prediction 2023 – 2040

Cardano (ADA) needs no introduction in the cryptocurrency world. As one of the prime 'Ethereum Killers', it's often considered one of the best altcoins. Are you considering investing in Cardano? Our Cardano price prediction guide will be helpful in many ways.

In this guide, we’ll cover Cardano price prediction in the most comprehensive manner. We’ll cover Cardano price forecasts, including short and long term forecasts. We’ll also discuss Cardano background and ADA price history, as well as factors that affect the coin’s price.

Finally, we’ll provide Cardano latest news, current and future utility, as well as provide answers to some frequently asked questions about Cardano investment opportunities.

 

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Cardano Price History 

Cardano has quickly gained a lot of popularity, therefore it's common to believe that it's a new cryptocurrency. On the contrary, Cardano has been in existence for a while and has progressively advanced to become one of the top cryptocurrencies to invest in. Before delving fully into Cardano price forecast and prediction, we’ll discuss its background and ADA price history.

The objective of the Cardano cryptocurrency network is to strive to be the best eco-friendly blockchain. It replaces BTC and ETH’s energy-intensive proof-of-work approach with a novel proof-of-stake mechanism dubbed Ouroboros. With regard to scaling, connectivity, and longevity issues on blockchain networks, Cardano is particularly designed to perform better than the rest.

The Cardano Settlement Layer (CSL) and the Cardano Computation Layer (CCL) are the most distinct levels that make up the Cardano blockchain. The CSL includes the credits and financial ledger (this is where the operations are authenticated by the Ouroboros consensus mechanism). Using the application of smart contracts functionalities, all calculations for programs operating on the network are carried out at the CCL layer. By dividing the system into two levels, the Cardano platform will be able to execute about 1,000,000 transactions per second.

Charles Hoskinson, the co-founder of Ethereum, started working on Cardano's development in 2015. The Cardano Organization, headquartered in Zug, Switzerland, is in charge of and supervises the initiatives. It was finally launched in 2017.

Cardano (ADA) has succeeded in establishing itself as a prime alternative to Ethereum. They both have the vision to design a linked, decentralized approach and are utilized for related operations like decentralized applications (dApps) smart contracts. This is why, in contrast to Ethereum's "gen 2" characteristics, Cardano insists that it is an improved variant of Ethereum and it has dubbed itself a "gen 3" infrastructure.

Cardano first appeared in September 2017, when its native token (ADA) price started trading at about $0.02. The first ever significant price change occurred at the close of November 2017 when ADA's capitalization exceeded $1 billion for the first time. Following a few brief spikes, the value rose by about 4,000% to climax at $1.21 on January 4, 2018. ADA's market capitalization stood at approximately $31 billion at that time.

The overall price trend for Cardano (ADA) exhibits the well-known sequence of two significant surges, the first occurring at the close of 2017 through the start of 2018, and the other commencing in the latter part of 2020 and lasting into 2021. This is due to the fact that its trading activity is comparable to that of several major altcoins, a number of which underwent huge gains as a result of the publicity surrounding Bitcoin's 2017–2018 and 2020–21 bullish trends.

According to market data aggregator kriptomat.io, Cardano has experienced a remarkable rise from its initial value of $0.02 to over $1.40 a few years after its inception in 2017. There were some spikes and collapses along the route, thus preventing a smooth journey. Notwithstanding, it has been a favorite for crypto enthusiasts on the best crypto exchanges.

Before moving on, let's quickly recap what we have already covered in this Cardano price prediction guide:

• Cardano is an eco-friendly technology that aims to replace Bitcoin and Ethereum’s energy-intensive proof-of-work approach with a novel proof-of-stake mechanism dubbed Ouroboros
• The Cardano Settlement Layer (CSL) and the Cardano Computation Overlay (CCL) are the two distinct levels that make up the Cardano blockchain. The CSL includes the credits and financial ledger whilst all calculations for programs operating on the network are carried out at the CCL layer, this distinct functionality has positioned ADA as one of the best crypto to invest in
• Charles Hoskinson, the co-founder of Ethereum, started working on Cardano's development in 2015, and the project was launched in 2017. Its token, ADA, started trading in top crypto exchanges within the same period
• Cardano (ADA) has succeeded in establishing itself as an alternative to Ethereum. In contrast to Ethereum's "gen 2" characteristics, Cardano insists that it is an improved variant of Ethereum and it has described itself as a "gen 3" infrastructure.
• Cardano first appeared in the crypto universe in September 2017, when its native token (ADA) price started trading at about $0.02. First ever significant price change occurred at the close of November 2017 when ADA's capitalization exceeded $1 billion for the first time
• Cardano recorded its all-time low price of $0.01925 on 13th March 2020, and this value is approximately 1,877% lower than the current price of the token
• Cardona (ADA) reached its all-time high value of $3.09 on 2nd September 2021. At the moment, this is an approximately -87.67% difference from its current price
• Cardano experienced a remarkable rise from its initial value of around $0.02 to over $3.0 a few years after its inception in 2017 

What was Cardano’s starting price?: 1 ADA = $0.0024 in December 2016 during its ICO. CoinMarketCap first started tracking the price of Cardano on the 10th of February 2017 trading at $0.026.

What is Cardano’s highest price?: Cardano’s all-time high is $3.10, which it reached on the 2nd of September 2021.

What is Cardano’s lowest price?: Cardano’s all-time low is $0.01735, which it hit on the 1st of October 2017.

In 2022, Cardano began the year at $1.37 and ended the year at $0.25. ADA has a 52-week low of $0.24.

Cardano Price Prediction 2023

What will the Cardano price prediction curve look like in 2023? From our research and analyses, Cardano will have a steady upward trajectory through the coming years. What exactly will happen in this bullish Cardano (ADA) price forecast in 2023? We’ll explore the possibilities below.

Before discussing anything else, it's critical to understand that Cardano is an excellent blockchain network. A self-sufficient, eco-friendly and distributed network, Cardano has always set out to be excellent. Whilst Ethereum may have pioneered some innovations in the crypto economy, Cardano increased the market’s user preference. Considering that Cardano is still a thriving altcoin and Ethereum is already an established network, both have succeeded in achieving their objectives. However, the Cardano network is taking it a step further.

Generally, there are a lot of smart contracts and dApps platforms. Ethereum was the first of many, growing rapidly to dominate the crypto-sphere. Cardano differs from Ethereum in that it is extremely fast, affordable, autonomous, carbon-neutral (eco-friendly), and fitted with state-of-the-art self-executing functionalities.

Cardano will perform millions of operations every second with quick resolution and low transaction costs. Despite its similarities to Ethereum and the fierce rivalry it presents, Cardano has a clear edge because of its architecture and features. As a result, it will also be considered among the best altcoins. This factor has a significant impact on the question of ADA's long-term price forecast.

As you may anticipate, our experts have big expectations for the Cardano price prediction in 2023. Although Cardano (ADA) is one of the most undervalued cryptocurrencies and our permutations indicate a modest upward tendency, crypto experts forecast that the ADA cost in 2023 will be $0.87, which is significantly high based on Cardano's recent price fluctuations history since its launch.

In conclusion, we expect that the price of ADA will fluctuate over the year but would rise steadily over the course of the months. In view of this entire scenario, we anticipate that Cardano price prediction for 2023 could be higher than the predicted $0.87 price per token. But we need to be modest.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Cardano Price Prediction 2024

One of Cardano's most impressive features is its transparency and versatility in hosting decentralized applications (dApps). Software developers may add additional functionality to an app in accordance with its modularity feature. Decentralized apps developed in this manner are much more sophisticated than dApps of the earlier days.

Cardano prioritizes keeping its ecosystem developer-friendly and energy-efficient in order to encourage greater adoption of blockchain among individuals, enterprises, institutions, and authorities. The genius of Cardano is that developers may build assets in a computer language they are familiar with.

It is important to note that the dynamics of economics and market flow will have a considerable impact on Cardano price prediction for 2024. Demand for the token, as well as obvious improvement in the blockchain network, will be significantly influential.

According to our research and Analysis, it is likely that ADA will have a great year in 2024. As per the latest Cardano price forecast for 2024, ADA could be worth as much as $2.40 before the year comes to an end.

So, should I invest in Cardano? Well, our short-term ADA Cardano predictions suggest short-term investing could pay off handsomely. Between 2023 and 2024, ADA could be worth between a low of $0.24 and a high of $0.70. But could Cardano perform better in the long term? 

Cardano Price Forecast Long Term Outlook – 2025 Prediction

Given that it can accommodate a wide range of smart contracts and decentralized applications, Cardano is seen as one of the best crypto in the market today. It has the requisite architecture to enable a huge variety of innovative dApps and creative crypto initiatives. These and many other reasons all contribute to the long term positive price forecast for Cardano.

It's important to understand that the Cardano coin (ADA) is actually relatively affordable, particularly when you factor in its prospective value. Without a doubt, it is one of the most undervalued crypto assets on the market right now. This means buying now is a great idea.

Digital assets that are undervalued have the best long term price prospects. As we've already elaborated, Cardano's ecosystem has a lot of room for growth. This makes it more obvious why Cardano (ADA) is one of the next crypto to explode.

Cardano price is progressively rising as more individuals get knowledge of the advantages it offers to all classes of users. Because the network is sustainable and transparent, numerous entities are keying into it.

Remember that ADA can be categorized among the best new cryptocurrencies. We should not really expect it to be as widely accepted or highly priced as the more established Bitcoin or top altcoins like Ethereum. It will have its time, and it will most likely explode in the future.

Cardano is anticipated to become more well-known over time. Its increasing popularity will be one of the variables affecting its long-term prospects. We all know that an increase in popularity will often result in increased utility, which affects the value and price of the token.

Based on the consensus of analysts, Cardano is indeed one of the best altcoins to buy right now, given its long term price outlook. It will continue to attract crypto enthusiasts, investors and entrepreneurs in the future. This will definitely drive its price further.

You’re probably eager to know the Cardano price forecast for 2025. But first, you should be mindful that a variety of factors, mostly market factors, could affect the eventual price. Due to that, our Cardano price prediction for 2025 estimates that the value of Cardano will be $3.85 in 2025.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Cardano Price Prediction 2030

As you can see from the previous sections, we believe that ADA will surpass its current all-time high valuation in about two years’ time. By 2030, how much more could the coin's value increase? We predict a significant rise.

Examining how BTC or ETH performed in their respective early years, we can deduce that Cardano could rise meaningfully in the future. Though it may not eclipse these mainstream digital assets, it will gain more ground in the crypto space, and its token (ADA) will rise significantly.

We made it clear from the beginning of this Cardano price prediction guide that ADA is one of the most undervalued crypto assets. This suggests that the coin is super affordable. In fact, an ADA token is selling for way below $1. If you can buy now and hang onto this token until 2030, you could be in line for an amazing payoff.

Cardano is currently without a doubt one of the best altcoins to invest in. Although it is one of the cheapest crypto to invest in, ADA is precious and has been accepted by lots of individual and institutional investors. Because of its uniqueness and value proposition, it seems logical to regard ADA as one of the top investment vehicles in the crypto space.

Cardano attracted several top-level organizations in its early stage. Afrilabs, EMURGO, and IOHK are a few of Cardano's partner organizations in enterprise finance. Given that it is a prosperous blockchain and crypto network, Cardano can attract several new investors in the near future and in the long run.

So, how much, exactly, will ADA be worth in 2030? Our analyses and algorithm-based Cardano price prediction suggest that the ADA token could be worth as much as $18.60 before the end of 2030.

The further ahead an Cardano price prediction looks, the more inaccurate it is likely to become. This is not a reflection of the analytical platform, it is simply that the speed of which the market changes is almost impossible to map out. This is easy enough to see for yourself - simply look at how much blockchain technology has progressed over the last ten years - and how many platforms and exchanges were able to accurately predict prices.

Cardano’s approach of working with governments could be a winning strategy. Not only does it show governments that cryptocurrency is nothing to be afraid of, but it is also actively making a difference in some places which will earn it a loyal following. And this following could come in mighty handy if we see strong regulations imposed on crypto in the next few years.

Cardano stands the best chance of surpassing Ethereum out of the crypto market and all of its rivals. It has a great degree of trust in comparison to the Binance Smart Chain (which is mostly controlled by Binance) and has never had any downtime like Solana.

Now let’s analyze our Cardano price prediction over the long term. As highlighted earlier, Cardano retains enormous support from both retail and crypto investors on the markets.

Cardano could be running whole countries and the lifeblood of many multinational corporations by 2030. Beating its current all-time high, Due to the high demand, our Cardano price prediction 2030 forecasts that the coin could reach the $18 level by this point.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Cardano Price Prediction 2040

If you are confident and committed to HODLing, Cardano is without a doubt among the best altcoins to invest in right now. We’ve maintained that it is arguably one of the most undervalued cryptos. This implies that the price increase could be mouth-watering by 2040.

There are many factors that can guarantee our positive Cardano long term price prospects, including the possibility of wide crypto adoption in the next decade. If we factor in the uniqueness of the Cardano blockchain and its ability to attract talents and established organizations, then you're looking at one of the biggest blockchains in the industry's history.

We have every reason to believe that Cardano will stand the test of time. In addition to its state-of-the-art infrastructure and tendency to attract the best developers across the world, Cardano is gaining popularity steadily. The Cardano team and its partners have invested in many places, including Africa. Cardano has captured some of the most genuine crypto users, especially the unbanked and under-banked population across the world.

Before rounding off this section of our Cardano price prediction guide, it’s important to reiterate that a lot of factors will influence the actual prices of Cardano token (ADA) in the years to come. Market factors may be hugely influential, but the overall state of the crypto universe will have more influence.

So, how far can Cardano go in 2040 and how much will its native token (ADA) be worth at that time? Considering the predictions made by other analysts and our algorithm-based forecast, ADA could rise to as much as $35.00 before the end of 2040.

Coin Price Forecast believes that ADA will see exponential growth over the next 15 years. It has Cardano trading well over $40.60 per token by 2032 and believes Cardano price will continue to grow until reaching the $50 mark in 2040.

Elsewhere, Libertex believes that by 2040 Cardano will more than likely dominate the dApps market but is considerably more subdued in its prediction than Coin Price Forecast, believing that ADA will see modest gains in the very long terms and perhaps exceed $50 per token by 2040. 

Similarly, Crypto-Rating’s algorithm has Cardano at around the $55 mark by 2040, however, this is in spite of what the platform believes is an inevitable market-wide bear market that will hit between 2032 and 2037 - which Cardano will weather admirably. 

Potential Highs And Lows Of Cardano

The sections above have represented a deep analysis into our Cardano price prediction for the years ahead. Presented below are some critical areas of note that ADA investors may wish to keep their eyes on going forward.

The below prediction figures outline the potential highs and lows of Cardano price prediction forecasts offered by technical analysts and industry experts.

Year	High	Low
2023	$0.87	$0.24
2024	$2.40	$0.75
2025	$3.85	$1.63
2028	$18.63	$4.52
2030	$35.45	$13.38

 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

What is Cardano Used For?

The best coins often have real-world uses, thus an asset's true value depends on what it is meant to be used for. You can understand how a digital currency could potentially rise or fall by analyzing its use cases. We'll quickly go through a few immediate and potential uses cases of Cardano tokens (ADA):

Transactions and Gas fees

Using the Cardano ecosystem for creating and deploying dApps, NFTs and other crypto-related products and services require fees. It could be in the form of a transaction fee or a gas fee. In any case, ADA is used to settle these payments.

Even as Cardano’s use cases improve, ADA will continue to serve as the primary payment currency in the ecosystem. This means its relevance within and beyond the network will continue to rise.

Method of Payment

As a top altcoin, ADA can be used as a payment method across a variety of blockchains. In fact, its usage as a payment method transcends the Cardano ecosystem. As a top cryptocurrency, it is recognized by many in the industry as dependable virtual money.

Using Cardano to make a payment for goods and services within and outside the crypto industry can be super-easy. Once you confirm that the counterparty can accept the token, sending from your wallet to theirs should be seamless.

Unique Staking for Rewards

Like other coins that use the proof-of-stake consensus mechanism, Cardano tokens can be staked for network rewards. Staking involves locking an asset for a specific period with the aim of generating passive income.

Staking works perfectly in the Cardano ecosystem, and it can be very rewarding. It is one of the best and few ways to generate passive income in crypto without selling your assets.

Paying for Services Offered By dApps

There are numerous dApps at different stages of development, completion, and circulation on the Cardano blockchain. As the native token of the blockchain, the ADA token is used to pay for the services offered by these decentralized applications.

As the ecosystem expands and new dApps and features are made available, the value of the Cardano token will continue to increase. This is one of the reasons to accept a strongly positive long term Cardano price forecast.

As an Investment Vehicle

Anyone interested in buying Cardano for economic gains understands that it is an investment vehicle. It has the potential to gain and yield profit for investors, and this is one of its most popular use cases.

ADA’s quality as an investment vehicle will continue to endear it to many. Individuals and institutional investors will continue to align with the value proposition of Cardano, and we understand that wider acceptance translates to higher use cases, which ultimately result in a price increase.

How Could Cardano Future Utility Affect Price?

By now, you should know why an asset’s value will increase as it becomes more useful. Increased utility or usefulness ideally translates to higher value and price appreciation.

When Cardano was launched, its features and functionalities were limited. With the advancement of blockchain technology and the emergence of DeFi and other relevant subsectors, smart contracts platforms like Cardano has experienced exponential growth.

From Ethereum to Cardano to other smart contracts platforms, there's no telling what tomorrow may bring. Of course, we know that blockchain technology is still underutilized. It also follows that Cardano's use cases are still highly unexplored.

From all indications, Cardano and its native token (ADA) will have several new use cases as the industry develops. Also, there’s no disputing the fact that this development will result in increased ADA valuation.

We’ve seen Cardano move from a decentralized and smart contracts platform to a platform that even supports NFT minting. More developments are expected in the future, and their impacts could be huge. Cardano will definitely be included in crypto ETFs. The popularity of Bitcoin ETFs is a clear testimony.

What Drives the Price of Cardano?

The price of Cardano (ADA) can be impacted by a wide range of variables, including status reports, opinions, and macroeconomic variables. Cardano, like BTC, has a defined total circulation, making it immune to the factors that affect fiat money. We’ll discuss some of the known factors that drive its price right now:

Events taking place within the Cardano Ecosystem

Cardano is not a project with a narrow focus. It is a flexible smart contracts, dApps and NFT platform that may be used for many different things. The value of the token will be influenced by how the platform advances, including the development and application of cryptographic protocol innovations.

Attention and Activities on Social Media

We all know that the internet has a big influence on how shoppers and merchants respond. Given that the majority of crypto users, traders and investors use social media sites, it makes sense that social media activities and trends will affect ADA PRICING.

Social media is also commonly used for crypto marketing. The efforts of Cardano and all other crypto projects in its ecosystem in marketing will be influential on its short term and long term price prospects.

Rising Crypto Adoption

In spite of the many achievements the cryptocurrency industry has recorded so far, we must admit that it is still a long way from gaining the level of adoption we all crave for. However, there is high hope that crypto adoption will improve in the near future.

We also know that increasing crypto adoption means the market is becoming mature and more acceptable globally. This will definitely have an impressive impact on the price of all digital currencies, including ADA.

Regulation of the cryptocurrency market

Several countries have restricted cryptocurrency markets to some level. As it stands, world leaders are becoming aware of the inevitability of crypto going mainstream, hence the need and push for market regulations.

While the impact of crypto market regulation cannot be determined with certainty, we expect that it will be mixed to a great extent. If the industry is regulated the right way, there are high chances that digital assets will gain more value instead of going down.

Institutional Investment

Institutional investments play a huge role in the success of any project, including crypto projects like Cardano. The bigger the institutional investment a project receives, the higher its chances of achieving its goals and objectives.

Even from its earliest days, Cardano was able to attract a host of top-level institutional investors, including Emurgo. We expect the platform to attract other high-value institutional investors, and we believe their involvement will bring about Cardano price appreciation.

Latest Cardano News

Before concluding this Cardano price prediction guide, it is important to emphasize that getting the latest news about an investment vehicle is important at all times. So, let's talk about a few of the most notable developments involving the Cardano project and the ADA coin in recent times:

• Cardano (ADA) is set to become the largest EVM chain, thanks to a killer innovation
• Cardano DeFi TVL (total value locked) reaches a new all-time high of 341M
• Cardano appreciates 6% against BTC in spite of wide market sell-off
• Cardano’s  founder Charles Hoskinson affirms intentions in procuring CoinDesk
• USDA and DJED, two Cardano stablecoins, aren't the only eagerly anticipated advancements for 2023

The ADA Token: True Successor To ETH? 

Just as Ethereum is to Ether and the Ripple Network is to XRP, Cardano is to ADA. In short, this means that Cardano is the name of the platform on which the native cryptocurrency ADA runs.

Cardano is named after Gerolamo Cardano, and ADA is named after Ada Lovelace. ADA has a max supply of 45,000,000,000 tokens, has six decimal places and is broken down into ‘lovelaces’.

Aside from Ethereum (ETH), Cardano’s biggest rivals include:

• Solana (SOL)
• Polkadot (DOT)
• Binance Coin (BNB) — specifically the Binance Smart Chain.
• Avalanche (AVAX)
• TRON (TRX)

The ADA token can be used on the Cardano platform to stake and earn more tokens or take part in the project’s governance.

What’s The Point Of Cardano?

A potential ‘Ethereum killer’, Cardano was created to solve many of Ethereum’s problems, specifically network congestion and transaction fees.

Cardano takes a more academic approach to cryptocurrency. Before Cardano, Bitcoin (BTC) and Ethereum (and basically all other older cryptocurrencies) were not tried and tested, they were simply thrown out into the real world to see if they would work. This has left us with thousands of coins with difficult issues to fix that could prevent them from succeeding in the long run.

Cardano is the first peer-reviewed blockchain project. What that means is that proposals to improve or add features to Cardano are reviewed by experts who critique the potential impacts. This prevents flaws from being implemented to the Cardano protocol as proposals can be improved based on feedback or simply rejected.

Aside from these technicalities, Cardano wants to create a blockchain network that can run entire countries. A great example of this is Cardano Africa which has been set up to empower people in Africa by giving them an ‘economic identity’ and giving them access to DeFi (decentralised finance) services.

In Ethiopia, Cardano has been highly successful in launching an identity and record-keeping system for school students. This will better help students keep track of their school performance and prove their grades. So far, record-keeping has become one of Cardano’s top applications.

Cardano also has a commercial arm called EMURGO which seeks to provide blockchain solutions to developers, companies, and governments.

Some of Cardano’s benefits include:

• Tokenisation of assets (including NFTs).
• Dual-layer architecture.
• Processes 250 transactions per second — potential for one million per second in the future.
• Written in the universally recognised Haskell programming language (which makes it easier for developers to learn to use).
• Most developed cryptocurrency project — outranks all other cryptos in terms of GitHub commits.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Is Cardano A Better Version Of Ethereum?

Cardano was launched in 2017 by Charles Hoskinson, one of the co-founders of Ethereum. Cardano’s mission is to improve where older competitors have struggled and produce a stronger blockchain as a result.

Hoskinson’s blockchain company Input Output Hong Kong (IOHK), of which he serves as CEO, is primarily in charge of developing Cardano. Hoskinson and IOHK have also worked on developing Ethereum Classic (ETC) after the community split.

There are two phases left of Cardano’s roadmap.

Upcoming Cardano updates include:

• Basho. This phase will focus on scaling Cardano and interoperability with other blockchains. It aims to improve the performance of Cardano to support growth and will introduce sidechains.
• Voltaire. The last phase of Cardano’s development will focus on governance and turn Cardano into a self-sustaining system. It will introduce a voting and treasury system. It may be a few years before we get to this point.

Read Also: Ethereum vs Cardano

Battle of the Upgrades: Can Cardano Take on Ethereum 2.0?

Numerous cryptocurrencies have been touted as the next rival to Ethereum, including EOS, TRON, and Polkadot, but the reality is that the launch of Ethereum 2.0 has laid waste to several such claims. In fact, many altcoins have been tipped to potentially collaborate or even integrate with Ethereum once the upgrade is fully operational.

So what about Cardano? It appears that the competition between Ethereum and Cardano could boil down to a battle between upgrades. The latter is undergoing its Goguen ‘Mary’ update which will ultimately allow for the creation of on-chain tokens that are ‘native’ to the network, making Cardano a multi-asset blockchain and a much more credible rival for Ethereum. 

The next phase of the Cardano upgrade is expected to go live from next month and will give users the power to create their own tokens with similar functions to ERC-20 fungible and ERC-721 non-fungible tokens on Ethereum. However, despite these apparent similarities, there are a few key differences in the respective networks of Cardano and Ethereum. 

One significant advantage Cardano has over Ethereum will be the elimination of execution fees once the Mary update is complete. Ethereum users interacting with a token smart contract are charged have to pay gas fees, whereas Cardano wouldn’t charge its users. Cardano also has the advantage over Ethereum in that it already uses the proof of stake mechanism - something which Ethereum intends to implement in the future. 

Don't Miss: Could Cardano Be a Millionaire-Maker Coin?

Demand for Cardano is Increasing

One issue that has dogged Cardano to some degree is that a few major cryptocurrency exchanges are yet to support the token - most notably, Coinbase, which is one of the most popular platforms for retail investors. However, there have been rumblings that this is due to change in the near future.

In addition,  the largest exchange in South Korea, Korbit, began listing ADA in December 2020, opening up Cardano for millions of users and - crucially - allowing it to compete in one of Ethereum’s biggest trading grounds, with as much as 40% of global ETH trading believed to take place in South Korea.

Ultimately, demand for Cardano will likely be dependent on the success of its upgrades, but it seems crypto investors are optimistic - there has been an increase in the number of Cardano wallets, according to AdaStar, with an average of 121 new wallets created every hour since ADA’s record-breaking price run - an increase of 98% on the 63 wallets created per hour as of January 1.

Any suggestion of increased demand is always a positive sign for Cardano price predictions and with more technical developments in the pipeline, it’s just possible that ADA could maintain its recent growth. 

What Is Cardano Coin Used For?

Cardano is an open-source proof-of-stake (PoS) blockchain platform. In a PoS system, users can add new transactions to the blockchain by ‘staking’ their cryptocurrency as collateral to validate transitions. This is much less energy-intensive than platforms that use proof-of-work algorithms. IOHK refers to Cardano’s proof-of-stake protocol as a ‘permissioned Ouroboros-BFT’ (Byzantine Fault Tolerant) consensus protocol.

Cardano has been built with two distinct layers. The first is called the Cardano Settlement Layer (CSL), sometimes simply known as the cryptocurrency layer, and this is where users can carry out crypto transactions. 

The second layer is the Cardano Computation Layer (CCL). This layer enables developers to run apps such as decentralised apps (dApps) and smart contracts. Smart contracts are automatic contracts that encode the specific terms of an agreement, such as the price you’re paying and the party to whom you’re paying the amount. Much like the process of Bitcoin mining, this makes the payment system incredibly transparent and also means that people don’t have to go through third parties such as banks.

Cardano’s unique architecture is one of the features that sets it apart from first and second-generation cryptocurrencies. At the time of Cardano’s launch, the idea of using multiple layers was ground-breaking. The two different layers make it much easier for potential hard forks to occur in the future and generally improve Cardano’s long-term scalability.

Should You Invest In Cardano?

Cardano is arguably the most promising cryptocurrency on the market. From the way it was designed to the numerous upgrades it has undergone since its launch.

Cardano is one of the few networks that can tick all the boxes and displays no apparent shortcomings when it comes to the future of blockchain - the same of which cannot be said for either Ethereum or Bitcoin. 

Most Cardano price predictions have the token continuing its growth throughout 2023, but there is some divergence over what happens further down the line.

Naturally, a good way to hedge your bets is to diversify. The current price of Cardano (ADA) per token is still relatively cheap, so it may well be worth buying a small amount in any case, especially if you are already invested in Ethereum - having both onboard could be a good way to hedge your bets. 

Ultimately, Cardano’s future depends on continued technological innovation. There will no doubt be other third-generation coins coming onto the market and ADAs selling point as a peer-reviewed blockchain is not something that can be patented. The developers at Cardano therefore not only need to have their sights firmly on Ethereum, but they also need to stay ahead of the market in general.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Where To Invest In Cardano

As we mentioned earlier, there are some popular retail exchanges that, for one reason or another, are yet to list Cardano.

One of the best brokers on the market is eToro. It offers support for Cardano (ADA) as well as a good selection of other popular cryptocurrencies and is a very user-friendly platform - especially for the less experienced crypto investor. 

Once you’ve completed the short registration process, you’ll have access to several financial markets, as well as a host of professional trading and analytical tools. In addition, eToro also offers plenty of educational materials for those looking to conduct further research before they invest in Cardano. 

Conclusion — Cardano Price Prediction 

We have provided an in-depth Cardano price prediction guide in this piece for both big investors and regular traders. We discussed the main factors affecting the price of the digital currency, as well as its potential and how future utility will influence the price.

We discovered that ADA is one of the most undervalued investments right now. We also came to the conclusion that Cardano will advance in the future, and its token will become a lot more valuable. From its latest news, we can also deduce that Cardano is on its way to a major bullish trend.

Based on Future Cardano price prediction, the ADA coin can expect to see significant growth over the coming years. Leading analysts vary wildly on their forecasts - but if even the most conservative predictions pan out, anyone who chooses to buy Cardano could see decent returns.

Cardano is arguably the most professional cryptocurrency project to date. It benefits from a peer-review system that scrutinises its development to ensure that it delivers only the best solutions. No other blockchain project can claim to have the same level of expertise as Cardano.

If you’ve been looking for the latest Cardano price prediction, we hope you’ve found this article helpful. Cryptocurrency investing is notoriously risky and it’s vital to have a robust risk management strategy in place if you’re considering adding Cardano to your portfolio.

In conclusion, it is important to realize that Cardano (ADA) is a volatile asset. It will fluctuate in the months and years to come. However, a positive outlook is expected. We also need to reiterate the importance of buying crypto from a genuine and reliable source. eToro happens to be one of the best online brokers and the best place to buy crypto, stocks, ETFs and other investment vehicles.

eToro – Best Place To Buy Cardano

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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Here are some important questions investors should be asking themselves right now.