ARDR price prediction: Token lacks steam after sluggish uptake
Ardor’s unique blockchain offers real-world solutions, but its token is yet to impress
- Ardor: a brief background
- From the ARDR whitepaper
- ARDR: key figures
- ARDR price history
- What do the forecasters think?
Ardor: a brief background
ARDR is the native token of the Ardor blockchain, which is described as a Blockchain-as-a-Service (BaaS) protocol using a multi-chain ecosystem.
As more and more businesses introduce blockchain technology into their operations, a BaaS offering such as Ardor eliminates the need to maintain server networks, block validation nodes and security, all the while allowing businesses to customise their blockchains as they see fit.
The customisable nature of the multi-chain ecosystem, in which bespoke ‘child’ blockchains can be built while taking advantage of the transactional security and server capabilities of the ‘parent’, presents significant potential benefits for users.
Ardor was launched in 2017, and it is fair to say that user uptake has so far failed to meet expectations, while numerous much-hyped projects have either folded, or failed to materialise.
However, Ardor is still a fully functional, unique piece of blockchain technology. If you want to arm yourself with the full scope of knowledge before diving into our Ardor price prediction, be sure to check out our in-depth guide here.
From the ARDR whitepaper
The whitepaper titled JULURIDA, Ardors’ parent company states: “Ardor is a blockchain-as-a-service-platform that evolved from the time-tested Nxt blockchain.”
“The unique parent-child chain architecture of Ardor, with a single security chain and multiple transactional chains, enables three fundamental advantages - reducing blockchain bloat, providing multiple transactional tokens, and hosting ready-to-use interconnected blockchains.”
ARDR: key figures
Before jumping into the ARDR price prediction, a few essential facts: at the time of writing on 3 May 2022, ARDR is valued at $0.1787. A circulating supply of 998,999,495.00 billion gives a market capitalisation of $326.4m.
The total supply of ARDR is also 998,999,495.00. As the ARDR cryptocurrency runs on a proof-of-stake (PoS) model, tokens are not mined and no new ARDR tokens will ever be generated. Instead, the deflationary process of airdropping ARDR to operating network nodes as an incentive for executing transactions is what will theoretically drive ARDR’s value upward.
The latest 24-hour trading volume was just over $5m. This is a decent figure against market cap and an indication that trading activity among ARDR holders is high.
ARDR price history
ARDR came into the market in 2016, trading initially at $0.042 and continued trading sideways until May 2017, when the token increased to $0.28. However, more prominent growth was seen towards end of 2017, in tune with general crypto market sentiment. The coin hit an extraordinary all-time high of $2.55 on 13 January 2017, but the coin has yet to come anywhere near that record price.
The coin fell rapidly from that price point, and continued trading around the $0.05 to $0.06 mark until 2021, when yet again plenty of public interest fuelled mass adoption of the cryptocurrency. On 11 April 2021, the coin was trading at another high of $0.7756, but it has retreated again since. The coin exhibited an unprecedented bull run in the first quarter, culminating in an inverted hammer candlestick on 10 April and a closing price of $0.53.
The bull run was pared back by a clear downtrend in the following months; bears took control, as observed by a falling wedge pattern. Despite the fleeting uptrends in 2021, the coin opened in 2022 at $0.2245.
On 5 April 2022, the protocol announced the following on Twitter:
As of 3 May 2022, the coin is currently trading at $0.1787. The Relative Strength Index (RSI) is at 34.13, which is a positive sign that ARDR is neither overbought or undersold.
However, the Exponential Moving Average (EMA) and Simple Moving Average (SMA) trends suggest a decline in the value of the coin.
What do the forecasters think?
The general ARDR price prediction consensus among forecasters is overwhelmingly bearish.
At DigitalCoinPrice, the Ardor price prediction for 2022 suggests a value of $0.23 in June. While this does represent a 1.28 times return over current prices, this number is quite a way below many other altcoins. The forecaster gives an Ardor price prediction for 2025 of $0.35, and its Ardor price prediction for 2030 is $0.83. Forecaster sentiment is in the “strong sell” category.
WalletInvestor’s Ardor coin price prediction presents a 12-month price target of $0.28, rising to $0.68 over the course of five years. With these modest predictions, the forecaster does not have a bullish sentiment, but nor is it as bearish as others.
Gov.capital’s Ardor price prediction suggests a break above the $0.50 mark in May 2024. It says $1 could be reached by April 2027.
Please keep in mind that forecasters use highly speculative algorithms to determine the Ardor price prediction, and their forecasts do not constitute genuine investment advice. Be sure to conduct thorough independent research if you are considering an investment.
Most forecasters are bearish about ARDR’s prospects. Support for the Ardor blockchain does not seem as strong as it could be.
Any investor should exercise caution before placing money on any crypto asset.
The ARDR price has room to grow. It is currently range trading but it could go either way. We have seen prominent bull runs last year, though bears have managed to resist them. Remember, never invest more than you can afford to lose!
That is down to you. Ardor crypto price predictions are modest at best, but it might surprise us yet.
Regardless of what you decide to do, always conduct extensive due diligence before placing money on an investment.