Cardano ($ADA), the eighth largest coin, is expected to skyrocket to $2.93 by 2025 and $6.53 by 2030, as forecast by Finder’s fintech panel. They also expect the coin to be worth $0.63 by the end of 2022.
The panel had predicted that ADA would end 2022 at $2.79. But that prediction has now changed after the stock market crash, with the coin now more likely to be worth that amount by the end of 2025.
Related Reading | NFT Markets Thrive as DeFi Protocols Suffer
Its value projections for the next ten years also fell sharply. Compared to the forecast of $58.04 made in January 2022, the current projection of $6.54 for 2030 is significantly more conservative.
Finder conducts quarterly surveys and asks its fintech experts to project cryptocurrency prices. Fifty-three industry experts were invited to participate in the study conducted in July 2022 and provide Cardano price predictions for 2030.
Dr. Iwa Salami of the University of East London, co-director of the Center for FinTech, predicts a price of $0.60 by the end of 2022. He believes the value of the Cardano blockchain is crucial, and is likely to rise its long-term use. and therefore will have a favorable effect on the price of ADA. According to him, this is because it aims to promote financial inclusion in developing economies.
As for the future usefulness of ADA, Charles Silver, CEO of Permission.io, has doubts. Since he sees no use case for Cardano and predicts its eventual demise, he estimates its value at $0.20.
ADA is currently trading at $0.44 on the daily chart | Source: ADAUSDT from Tradingview
Drops before Cardano (ADA)
On September 2, 2021, the price of ADA reached its all-time high of $3.10. ADA started trading on January 18, 2022 at $1.36 and eventually reached $1.63. But at the beginning of the Russo-Ukrainian crisis, investors may have started to liquidate their holdings, and on February 24 they fell to $0.7528.
At the end of March, the price bounced back to the $1.24 level, but was unable to continue its upward trajectory, falling back to $0.7424 at the end of April.
Additionally, on May 12, the collapse of the Terra UST and LUNA coins caused ADA to drop to an intraday low of $0.4065 in the crypto markets. As cryptocurrency prices surged, ADA rallied to $0.6823 before falling to trade in the $0.55-0.60 range in early June.
However, it has been fluctuating between $0.40 and $0.49 since the end of June. The ADA market situation is currently not improving significantly.
Related Reading | Layer One Blockchain Startup 5ire Raised $100M and Joins Unicorn Club
According to CoinGecko statistics, ADA is currently trading at $0.4405, almost 85% below its all-time high. In addition, it is trading in the red and its seven-day loss is 7.7%. Even their trading volume of 24 is also at a loss at 21.70% according to nomics data.
Featured image from Flickr, chart from Tradingview.com
- Click to share on Twitter (Opens in a new window)
- Click to share on Facebook (Opens in a new window)
- Click to share on LinkedIn (Opens in a new window)
- Click to share on WhatsApp (Opens in a new window)