Cardano Price Index – Real-time ADA rate
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Cardano Price Summary
At the time of writing, Cardano (ADA) was selling at $0.0793, which is 2.14% less than it was during the last 24-hour trading session. Also, this price means that ADA is about 47% below the year-to-date peak established on July 27. But let this decline, which is possibly a minor correction, not blind us to ADA’s impressive year to date performance of 235%.
In between the year’s opening price and the current one, ADA has enjoyed many ups and suffered some lows, especially in March. The important message here is that the price evolution of the digital currency is quite eventful and that investors will do better if they stay informed about the behaviour of price action.
Cardano Price History
Cardano is a blockchain platform that is almost three years old. In this period, the Cardano (ADA) price has seen some all-time high and near bottom performances. When the project launched in September 2017, Cardano founders capped the supply of ADA at 45 billion. However, only 31 billion tokens are in circulation.
Charles Hoskinson, who is the founder of the Cardano ecosystem, and his team offered token sales of the digital currency in five phases and the opening price was $0.0228. Because the token launched in the middle of an ongoing crypto craze, ADA took less than two months to attain the all-time high price of $1.18, which represents a 4,160% growth.
The crypto cataclysm of 2018 did not spare Cardano as the digital currency quickly descended from its perch in January to $0.1481 in April. Although Charles Hoskinson and his team have launched some groundbreaking projects via Cardano, this has not been enough to return ADA to its record, or anywhere close even. Instead, ADA holders have had to endure near-zero ADA prices for the better part of the token’s existence.
However, 2020 looks like the year the coin will turn around its fortunes. Year to date, ADA has gained 235% in value despite a few major and many minor corrections. The Cardano protocol is unique in that it is built on a technology conceived through rigorous and peer-reviewed research. As a result, Cardano is poised to become close to 100 times decentralised relative to major platforms like Bitcoin. For this reason, the Cardano blockchain will have hundreds of assets and applications running on the platform. As a result, ADA is on its way to becoming a top cryptocurrency in cryptoverse.
Cardano Price Prediction
CoinMarketCap ranks Cardano (ADA) at position 12 at the time of writing, meaning that it carries more value than 7,153 coins in its database. But price predictions often consider the value of an asset at a future date. For ADA, certain factors will determine how it fares in the coming weeks, months, and years. Most important, though, is the ability of the coin to gain mainstream usage, which will help grow its value.
The Cardano ecosystem is built around six major use cases across various industry verticals. For instance, the Cardano blockchain underlies a solution for tracking agricultural products along the supply chain to ensure safety. EMURGO helps to certify and trace food from farm to plate to increase transparency. Given the rising need for more transparent and secure supply chains, there is no doubt that demand for Cardano’s solutions will be more in demand in future. This development should underwrite ADA rise to prominence.
Before the end of 2020, ADA is likely to retest the $0.15 resistance level because of the strength in momentum, despite the recent decline. Post-2020, Cardano’s enterprise use cases, like EMURGO’s traceability solution, will push ADA more into the mainstream. Possibly, we might see ADA break above $1 and continue to soar higher.
Expert Tip on the Price of ADA
ADA is full of potential to earn investors a comfortable return. The digital currency will be more attractive if it holds onto the current year-to-date performance. However, the crypto market is inherently volatile and a certain level of risk is inherent in its investment. You can take safety measures as you trade the token over cryptocurrency exchanges by using technical analysis tools to find the best entry and exit points. A great number of indicators exist to hold your hand in this endeavour some of which include the Ichimoku cloud and the Fibonacci retracements.
Charles Hoskinson came from being one of the founders of Ethereum to creating Cardano. Although Cardano includes some of Ethereum’s features such as smart contracts, it is based on a proof of stake (PoS) system, although Ethereum is about to join the PoS system soon.
Cardano’s use of PoS has enabled it to develop novel solutions for Agriculture, Retail, Finance, Healthcare, Education, and Government sectors. Because of its energy efficiency, Cardano blockchain is increasingly gaining traction and this builds a strong foundation for ADA to contest for the best crypto status in future.
Cardano Value Compared to Other Cryptocurrencies
Frequently asked questions
Cardano has fetched less than $1 for almost the entirety of its existence. Whether this will change depends on the adoption of Cardano’s solutions in sectors such as Finance and Agriculture. Already, EMURGO’s traceability solution is having a good run, which suggests that the other novel solutions might revolutionize target sectors. If all these solutions make the consumers tick, then ADA can potentially surpass $10 in no time.
ADA is not available on Coinbase but the cryptocurrency exchange has committed to listing the crypto before the end of 2020.
First, you need to buy ADA on a cryptocurrency exchange such as Binance. Then, you need to acquire a relevant wallet like Yoroi or Daedalus that will give you access to a stake pool. From your wallet, send your tokens in an available stake pool for staking. From Cardano’s perspective, staking entails validation of transactions on PoS blockchain. Stakers need to meet the required minimum ADA balance.
No. Actually, ADA has spent the year climbing and the ADA at the time of writing was last seen in July 2019.
By and large, the cryptocurrency sector experiences high levels of volatility. For the past year, however, the volatility levels have gone down significantly. Although ADA price is volatile, it is slowly stabilising as the coin continues to gain mainstream adoption.
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