ADA, which is the native currency of the blockchain Cardano, was launched in 2015, and initially, it traded pretty low, at around $ 0.0007 cents, until early November 2017, when the “Gold Rush” for cryptocurrencies sent them surging higher. The digital currencies, which were priced very low, like ADA, absolutely surged, and the ADA/USD increased 2,000 fold, to 1.38. But then the surge ended, and Cardano ended up back where it started at 0.0007. It formed a base there, which it tested in February for the last time, but now the base has moved higher to the 20 SMA (gray) on the monthly chart, as shown above.
Recent Changes in the Cardano ADA Price
|Period||Change ($)||Change %|
Factors Affecting Cardano ADA/USD
The Cardano blockchain network was founded by a leading team of scientists and engineers, which makes it stand out from the crowd, as it leads the crypto market in terms of new developments. It is followed by [[Ethereum]] . This cryptocurrency is based on peer-review-research, which attempts to bring it closer to the public, by making it more adaptable. As a result, it undergoes small changes constantly. That is part of the reason why ADA has been among the bullish altcoins since April, having increased around 200 times, from its lowest level of 0.0007. The price retraced lower in August and September, but ADA held most of the gains, and the bullish momentum is resuming again.
|ADA Forecast: Q4 2020||ADA Forecast: 1 Year||ADA Forecast: 3 Years|
|Price: $ 0.07
Price drivers: Technical indicators, crypto market sentiment, Voltaire development.
|Price: $ 0.15
Price drivers: Release of Voltaire, ERC20 Token Converter, Technical charts
|Price: $ 0.25 – $ 0.30
Price drivers: Cardano evolving, Crypto market sentiment, International legislation
ADA Live Chart
Cardano ADA Price Prediction for the Next 5 Years
Recent Developments for Cardano
Cardano is a blockchain-based platform that doesn’t necessary need a wallet, competing against other similar platforms, like [[Ethereum]] and EOS, but Frederik Gregaard, the incoming CEO of the Cardano Foundation, made the following statement recently:
“I think the biggest competitors are really the largest technology companies that are around today, the large tech platforms such as Google, Amazon, Tencent, Alibaba, those kinds of players.”
He aims at bringing all these kinds of currencies together, in order to offer the full range of services to customers, rather than them competing against one another and missing the boat that the big companies will take.
Cardano’s team is working on a number of developments in all areas, one of which is Volatire. Voltaire’s aim, which involves the governance area of blockchain, is to evolve Cardano into an outstanding innovation management platform. Cardano will release Goguen as well – the initial feature of the metadata transactions is already out. The next phase of the…