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
- ARDR: key figures
- What does the chart say?
- What do the forecasters think?
Ardor: a brief background
ARDR is the native token of the Ardor blockchain, 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 like Ardor eliminates the need to maintain server networks, block validation nodes and security, all the while allowing businesses to customise their blockchains how 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 crypto price prediction, be sure to check out our in-depth guide here.
ARDR: key figures
Before jumping into the ARDR price prediction, a few essential facts: at the time of writing, ARDR is valued at $0.326. A circulation supply of 998.9 billion gives a market capitalisation of $326.4m.
The total supply of ARDR is also 998.9 billion. 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 upward ARDR value.
The latest 24-hour trading volume was $22.8m. This is a worryingly low figure against market cap and an indication that trading activity among ARDR holders is low.
What does the chart say?
ARDR 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.
That more than sevenfold bull run was pared back by a clear downtrend in the next quarter; bears took control, as observed by a falling wedge pattern.
Despite a brief uptrend, a large shooting star candlestick on 5 September preempted the range trade position currently observed.
The relative strength index (RSI) is at 48.93, which is a positive sign that ARDR is neither overbought or undersold. Since October, the RSI has behaved, after an erratic six months of spikes and troughs above and below the overbought and undersold lines.
This could be taken as a sign that ARDR is range trading, neither at risk of a sudden drop in value nor an uptrend. Moving averages are similarly lazy, ranging around the $0.32 to $0.34 price since 21 October.
What do the forecasters think?
The general ARDR price prediction consensus among forecasters is overwhelmingly bearish.
At Digitalcoin, the ARDR price prediction for 2022 is $0.56. While this does represent a return 1.75 times over current prices, this number is quite a ways below a vast range of other alt coins.
The forecaster has an Ardor price prediction for 2025 of $.955 and the psychologically important $1 mark could be reached some time in late 2026. While an Ardor price prediction for 2030 is not provided, Digitalcoin’s 2028 price target is $1.5.
Forecaster sentiment is in the “strong sell” category.
Wallet Investor’s Ardor coin price prediction presents a 12-month price target of $0.49, rising to $1.16 over the course of five years. With these modest predictions, the forecaster does not have a bullish sentiment. However, nor is it as bearish as others.
Gov Capital’s Ardor price prediction suggests a break above the $0.50 mark by the close of 2022. It says $1 could be reached by the end of 2025.
Please keep in mind that forecasters use highly speculative algorithms to determine the Ardor price prediction and results 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 bull runs this year, though bears have managed to resist them. Never invest more than you can afford to lose!
That is down to you. Predictions are modest at best, but it might surprise us yet. Regardless of what you chose to do, always conduct extensive due diligence before placing money on an investment.