Cardano price predictions begin to appear everywhere for 2024 and 2025 with the recovery of the cryptocurrency market and bitcoin above US$52 thousand this year.
The price of the cryptocurrency ADA, which runs on the Cardano blockchain, has been on an upward trend over the past two weeks, gaining more than 20% as crypto markets began to recover from a sharp drop in 2022 and 2023.
The Cardano blockchain is undergoing updates this year to add new functionality, including native assets and tokens, as well as smart contracts. What does this mean for the Cardano (ADA/USD) price prediction?
In this article, we look at recent cryptocurrency developments and the latest Cardano price prediction for ADA's value direction for the remainder of the year.
In this article, we will discuss:
Cardano Updates 2024
Launched in 2017, ADA is the ninth largest cryptocurrency in the world, with a market capitalization of $22 billion as of February 18, 2024. It was developed by the infrastructure company blockchain Hong Kong-based Input Output (IOHK), which was co-founded in 2015 by Ethereum co-founder Charles Hoskinson.
The Cardano blockchain is one of the largest to use the Consensus Proof of Bet (PoS) algorithm that other blockchains like Ethereum are now adopting.
Like Ethereum, Cardano is undergoing a series of upgrades. In parallel, the Cardano network shows signs of continued growth and development, demonstrating an unwavering commitment to expanding its ecosystem.
Recent reports indicate the launch of 157 projects on the Cardano blockchain, in addition to 1.322 projects in the active development phase. Notably, progress on the Plutus script, a key element for implementing smart contracts on the network, is impressive, with 6.356 Plutus V1 scripts and a jump to 18.821 Plutus V2 scripts.
Furthermore, Cardano's infrastructure has been consistently strengthening, with significant advances in performance and the introduction of new features. The Voltaire phase, focused on decentralized governance, is an example of notable progress. “The education team is planning the second iteration of the Cardano developer training course in collaboration with the Africa Blockchain Center (ABC). They also continue to update other Haskell Bootcamp course lessons,” shared IOHK.
A recent milestone is the launch of Plutus v3 on SanchoNet, a test environment for Cardano's fully decentralized on-chain governance mechanism, slated to be implemented with CIP-1694. This new version of Plutus promises significant improvements over its predecessors, aiming to enhance the development experience, simplify the adoption of smart contracts, and foster cross-chain interoperability.
Cardano Price Trends Rise After Rock Bottom
Cardano (ADA) stands out with an impressive leap in its financial journey. Cardano had its highest price on August 8, 2021 and traded close to $3,10. Now in the last 24 hours, the cryptocurrency has witnessed a vibrant 21% recovery in trading volume, crossing the nearly $730 million mark. This rebound is not just an isolated number, but rather an indication of growing investor enthusiasm, even amid upward price movements that defy expectations.
During the week, the ADA price has been hovering between $0,58 and $0,62, demonstrating a stable upward trajectory. This market behavior not only consolidates recent gains, but also signals renewed confidence in the cryptocurrency's long-term potential.
The Cardano ecosystem, as highlighted in the Messari Q4 2023 report, reveals a scene of bustling development and innovation. With a 166% increase in total value locked (TVL) from the previous quarter, reaching a peak of $450 million, Cardano signals robust 693% year-over-year expansion. This astronomical growth is a testament to the accelerated adoption of Decentralized Finance (DeFi) within the network, marking a promising chapter for the cryptocurrency.
Protocols such as MinswapDEX and the emerging Indigo Protocol are cited as catalysts for this expansion, with Indigo, a synthetic derivatives exchange, quickly establishing itself as the largest protocol in terms of TVL. The diversity of applications and protocols within the Cardano ecosystem opens up a range of opportunities for continued growth and innovation.
In addition to financial success, Cardano boasts a vibrant community of developers dedicated to shaping the future of the ecosystem. Progress in the development of Cardano Hydra, especially version 0.15.0, is particularly notable, focusing on significant improvements in scalability and transaction efficiency. Continued advancements towards Hydra implementation underscore Cardano's commitment to innovation and technical excellence.
Cardano price prediction: what are the prospects for ADA 2024 and 2025?
Sector analysts, such as Gambardello and Ali, share optimistic views about the growth potential of this crypto, although they recognize a different path from previous cycles.
Gambardello points out that, despite Bitcoin and other cryptos showing decreasing returns cycle after cycle, with lower volatility and gains, the expectation for Cardano is a significant jump.
However, it moderates expectations compared to the astronomical 4.000% of the last cycle. Current analysis suggests a 2.100% upside for ADA, envisioning a price target of $10. This would equate to a staggering market cap of $350 billion, a considerable milestone, yet lower than Ethereum's market peak in last cycle.
On the other hand, Ali brings a detailed perspective on Cardano's potential movement. According to his analysis, a break in ADA's consolidation could precede market expectations. Ali projects a scenario where ADA could rise to $0,80, retreat to $0,60, and then rocket on an upward trajectory towards $8 by January 2025. Such a progression would mark a 1.233% increase in relation to current values.
The #Cardano breakout may come earlier than expected! Still, if history repeats itself, we are anticipating $ ISLANDS to rise to $0.80, retrace to $0.60, and then enter a bull run toward $8 by January 2025! pic.twitter.com/HuVAxFEg9Y
— Ali (@ali_charts) February 15, 2024
These analyses, although they vary on specific numbers, converge on the belief that Cardano is about to experience exponential growth. The similarities in technical movements with previous cycles reinforce this perspective, indicating a possible and imminent bull cycle for ADA.
It's important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to predict what the currency's price will be in a few hours and even more difficult to provide long-term estimates.
Therefore, we recommend that you always do your own research and consider the latest market trends and news, technical and fundamental analysis and expert opinion before making any investment decisions.
Where to buy Cardano coins (ADA) in 2024
If you are looking to invest in Cardano now, you can buy the coin on cryptocurrency exchanges like Coinbase, Binance, Huobi and others. You can then withdraw the coins to a hardware wallet for safekeeping.
Conclusion: Cardano Price Prediction 2024
As we move towards 2024 and beyond, the future of Cardano (ADA) shines with an optimistic glow on the market horizon. cryptocurrency market. Driven by the remarkable market recovery, highlighted by bitcoin surpassing US$52, and the substantial upgrades planned for the Cardano network, ADA is positioned as a promising investment option. The rise of more than 20% in the last two weeks is not only a reflection of ADA's intrinsic potential, but also a sign of growing confidence among investors regarding its lasting value.
Looking ahead, forecasts point to a potential increase in the price of ADA, possibly reaching as high as $8 by January 2025, as the development of projects on the Cardano blockchain continues. This growth is supported by an active and dedicated developer community along with an unwavering commitment to innovation and technical excellence, setting the stage for exponential growth.
With its continuous innovations, an expanding ecosystem, and a robust foundation for future growth, Cardano emerges as an attractive choice for those looking to diversify their portfolios in the dynamic and ever-evolving world of cryptocurrencies. As we move beyond 2024, ADA not only promises financial returns, but also represents a leading edge in the adoption of blockchain and smart contract technology, redefining what is possible in the decentralized finance space.
Frequently asked questions
How many Cardano coins are there?
There are 32,08 billion ADA coins in circulation, out of a total stock of 32,96 billion, according to CoinMarketCap data. The current supply accounts for 71% of the maximum supply, which is limited to 45 billion.
Is it good to invest in Cardano?
Yes, it could be a good investment due to the cryptocurrency's upward trend, significant updates to the Cardano network, and the growth of its ecosystem.
How much will Cardano be worth in 2025? ADA Price Prediction 2025
Some cryptocurrency analysts project a prediction of cardano price with a large increase for the currency, with an optimistic scenario pointing to a price of up to US$8 by January 2025.
What are the chances of Cardano rising?
The upside odds look promising due to market enthusiasm, network upgrades, and expert analysis predicting exponential growth.
What to expect from Cardano in 2024?
Continued growth and development of the Cardano ecosystem is expected, with the implementation of new features and infrastructure improvements.
What is the future of ADA coin?
ADA's future looks promising, with expectations of exponential growth based on network upgrades, ecosystem growth, and market analysis.
What is ADA coin for?
ADA serves as the native currency of the Cardano network, used for value transfer operations, payment of transaction fees, and participation in ecosystem governance.
What was Cardano's highest price?
The highest price of the Cardano cryptocurrency was around $3,10 on August 8, 2021.
Why buy Cardano?
Buying Cardano can be considered due to its recent uptrend, significant upgrades to the network that promise to increase its functionality and value, and the continued growth of its ecosystem.
What is happening with ADA?
ADA is showing a significant recovery, with an increase of over 20% in the last two weeks, driven by network upgrades and growing market interest.
Why is Cardano rising?
Cardano is rising due to a combination of a recovering cryptocurrency market, significant upgrades to the Cardano network, and a growing ecosystem of projects.
What is the best currency to invest in today?
Although there is an optimistic view on the forecast of cardano price ADA, it is important to note that the best currency to invest in depends on an individual analysis of risk, growth potential and personal preferences. That being said, it is crucial to carry out your own research and, in addition, consider the importance of investment diversification.
Is Cardano a good investment?
Whether the ADA is a good addition to your portfolio depends on your personal financial circumstances, asset diversification and risk appetite. Cryptocurrencies are highly volatile assets, making them riskier than other forms of investment. You should never invest what you cannot afford to lose.
Will the ADA increase?
Some forecasts predict the ADA price will rise in line with a rebound in the broader cryptocurrency markets, led by ether and bitcoin. Others are more cautious and indicate the price could fall after recent gains.
The price will also be affected by the successful launch of the next hard fork on the Cardano blockchain in driving its use.
Can the ADA reach $10?
Forecasts such as those from DigitalCoin and WalletInvestor indicate that the price of ADA could rise to US$5 in the medium term, with the possibility of reaching US$10 in the long term. Analyst Michael van de Poppe predicts that ADA could gain up to 800%, which would put it on track to surpass $10.
Meanwhile, the price of the currency will depend on the trend in the broader cryptocurrency markets, as well as the adoption of the ADA and Cardano blockchain among developers and users of DeFi, dApps and NFTs.
