Cardano price prediction: What will Cardano be worth?

Cardano’s ADA coin made gains over 2021 but recently suffered. Is a recovery on the cards in 2022?

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Cardano and the ADA coin have grabbed a lot of attention since the coin became the world’s fourth-largest cryptocurrency by market capitalisation. It is currently the seventh-largest. What will happen to this cryptocurrency in the future? Here we’ll look at making a Cardano price prediction for 2022 and beyond.

ADA and cardano explained

What are the Cardano blockchain and the ADA coin? One of the key things to remember is that Cardano is the network and ADA is the cryptocurrency. While people talk about the “Cardano cryptocurrency” and the “Cardano coin”, that isn’t accurate. Nevertheless, an ADA coin price prediction is a de facto Cardano price prediction, so don’t worry too much about terminology.

Cardano is a blockchain, and the organisation behind the technology likes to emphasise how much it bases what it does on research. It wants people to notice the academic nature of its work, issuing its reports in peer-reviewed papers, which it hopes will encourage people to make use of the blockchain themselves.

Cardano was launched in 2017 by Charles Hoskinson, one of the founders of Ethereum. It was created to help in the world of decentralised finance, also known as DeFi.

The concept behind DeFi is, at heart, the concept behind cryptocurrency itself. Many people across the world have access to a mobile phone but do not have a bank account, and DeFi is designed to let them access financial services without having to go to a bank. DeFi also helps people send money internationally without having to pay commission, which makes transferring money across boundaries easier and cheaper.

Cardano uses smart contracts to carry out transactions. These are computer programs that carry out agreements once particular conditions are met. Most importantly, though, Cardano has its own native coin called ADA, after the 19th-century British mathematician Ada Lovelace – daughter of the poet Lord Byron – who worked on Charles Babbage’s proposed mechanical computer, the Analytical Engine. She is often regarded as the world’s first computer programmer.

ADA lets holders vote on proposals concerning the governance of the blockchain. They can also delegate their voting rights in return for rewards.

As far as obtaining ADA goes, it can be bought and traded on a range of exchanges and it is also issued to people who manage the blockchain, called mCore nodes.

The coin is mined using an algorithm called Ouroboros, named after the mythical serpent that eats its own tail, and uses the proof-of-stake method. That means that how much you can mine is tied to how many coins you hold, rather than the miner having to solve increasingly complex equations. Proof-of-stake is also more ecologically sound than the proof-of-work method because it uses less electricity. 

In December, the Cardano team made several UX improvements to the wallet’s interface.  They also made progress working on the UTXO HD properties, improved chain database operations, and implemented tracers for chunk validation. Additionally, the team updated Nix setup tooling; tested and deployed a new candidate for node v.1.33; and also modularised the Bitte deployment tool so that it is less AWS specific.

In January, the development team made the following updates: they finished updating the trezor-connect dependency to the latest version, performed a cardano-node and wallet backend version update, and upgraded packages. 

There is anticipation of a node upgrade and further project launches later in January.

But what of the future? Before we can make an ADA coin price prediction, it makes sense to take a look at the ADA coin price history. While past performance is no indicator of future results, it helps provide context for how people are reacting to Cardano and ADA.

When ADA launched in 2017, it traded at around the $0.02 mark for most of the year. This changed dramatically in early 2018. Cryptocurrency prices soared around this time, and ADA was no exception. It went from an intraday low of $0.3679 on 28 December 2017 to an intraday high of $1.33 on 4 January, a rise of more than 260% in less than a week.

While those highs were, ultimately, unsustainable and the coin ended up settling back to somewhere around the $0.08 mark for the next couple of years, the ADA coin and the Cardano blockchain had, albeit briefly, made their mark on people who followed the crypto market.

ADA in 2021 and 2022
 

ADA/USD price history

Date Close Change Change(%) Open High Low
Jan 23, 2022 1.07563 0.00850 0.80% 1.06713 1.09683 1.04789
Jan 22, 2022 1.06712 -0.04942 -4.43% 1.11654 1.15118 0.92102
Jan 21, 2022 1.11654 -0.13943 -11.10% 1.25597 1.27959 1.09705
Jan 20, 2022 1.25631 -0.07575 -5.69% 1.33206 1.42244 1.24901
Jan 19, 2022 1.33235 -0.12157 -8.36% 1.45392 1.52887 1.32245
Jan 18, 2022 1.45416 -0.14315 -8.96% 1.59731 1.63147 1.40139
Jan 17, 2022 1.59730 0.19024 13.52% 1.40706 1.59880 1.38355
Jan 16, 2022 1.40706 0.11835 9.18% 1.28871 1.41809 1.28286
Jan 15, 2022 1.28870 0.00080 0.06% 1.28790 1.31405 1.24858
Jan 14, 2022 1.28894 0.06003 4.88% 1.22891 1.30494 1.21673
Jan 13, 2022 1.22890 -0.07837 -5.99% 1.30727 1.34988 1.22368
Jan 12, 2022 1.30726 0.12376 10.46% 1.18350 1.30749 1.18244
Jan 11, 2022 1.18349 0.06363 5.68% 1.11986 1.19162 1.11853
Jan 10, 2022 1.11986 -0.04600 -3.95% 1.16586 1.17693 1.06023
Jan 9, 2022 1.16586 -0.01224 -1.04% 1.17810 1.20264 1.14360
Jan 8, 2022 1.17809 -0.02718 -2.26% 1.20527 1.25001 1.12444
Jan 7, 2022 1.20526 -0.07045 -5.52% 1.27571 1.28051 1.18039
Jan 6, 2022 1.27560 0.05078 4.15% 1.22482 1.29200 1.18241
Jan 5, 2022 1.22482 -0.07993 -6.13% 1.30475 1.34813 1.18952
Jan 4, 2022 1.30482 -0.01023 -0.78% 1.31505 1.34653 1.29117

The ADA coin price changed significantly in early 2021. This was a time of substantial growth in the cryptocurrency market, which rewrote some people’s ADA predictions. On 1 January, the coin opened at $0.1814. By 16 January, it had more than doubled to $0.3654.

This was followed by some steady progression. Then, on 5 February, it leapt up, with ADA’s intraday low of $0.4396 being followed by an intraday high of $0.5567 on the same day, notching up a rise of more than 25% in a matter of hours. ADA and Cardano did not stop there, though – on 10 February, the coin reached an intraday high of $0.9439, representing an almost 70% increase in the space of five days.

By now, it seemed inevitable that the ADA coin price would break through the dollar barrier, which it did on 20 February, closing at $1.12.

Although it retreated somewhat after that, hitting an intraday low of $0.9931 on 13 March, it spent most of the next month above the dollar mark. More growth followed, with ADA reaching $1.56 on 14 April. Again, though, the peak was followed by a trough and it fell to an intraday low of $0.9352 on 23 April before recovering to close at $1.16.

It was after this blip that things became really encouraging for the cryptocurrency’s followers. ADA closed at $1.55 on 12 May, but that was down from the day’s intraday high of $1.82. Two days later, it broke $2 for the first time and reached a new peak at the time of $2.46 on 16 May.

Storm clouds were on the horizon, however, and the great cryptocurrency crash of 19 May saw the value of ADA almost halve – going from an intraday high of $2.03 to an intraday low of $1.03. While there was some recovery, with it closing the day at $1.48, it looked as if the damage had been done and the ADA coin price stayed below the $2 mark.

That was until the start of September, when it reached an all-time high of $3.10 on 2 September. The ADA price crashed following its Alonzo hard fork upgrade on 12 September, however. Cardano also suffered a 3% drop following China’s announcement that declared all cryptocurrency transactions to be illegal and by 5 October, the ADA price closed at $2.23. The price stabilised around this point for the next week or so, but then started to deflate. It hit an intraday low of a little over $2.07 on 12 October, before rallying slightly to a little over $2.19 on the morning of 14 October and advancing upwards to $2.22 that evening. Five days later, it dropped back to $2.10. On 24 October, the coin was trading at $2.17.

On 26 November, the coin was trading at just $1.50. The dip may have followed the announcement that eToro was delisting the coin, citing regulatory concerns. Over December, many altcoins suffered but by the middle of the month, projections looked increasingly optimistic. Cardano (ADA) went live on Gemini-backed crypto payments network Flexa on 17 December and Cardano users could then spend ADA at 40,000 US stores. Despite losing almost a quarter of its value in early December, the coin may be poised for a 40% upswing in the long term.  

On the afternoon of the 13 January 2022 the coin was valued at $1.29 with an intraday high of $1.35. Some sources suggest the reason for the rapid appreciation since the December lows could in part be attributed to Cardano’s plans to become a carbon-negative blockchain, as news it had planted over one million trees reverberated online. 

So, what now of the future? What sort of Cardano price predictions can be made? What is the Cardano price prediction for 2022 and beyond? Let’s take a look.

ADA coin price prediction

Long-term coin price predictions are made using computer algorithms and should never be taken as an accurate forecast of the Cardano future price. Wallet Investor indicates a slow development for its Cardano coin price prediction. It forecasts the ADA coin price will hit $2.79 in a year’s time and $9.22 in five years.

CoinPriceForecast’s ADA coin price prediction for 2022 suggests closing out the year at $1.40, and says that the coin will hit $2.28 by the middle of 2024, and $2.62 by the end. The ADA price prediction for 2030 is for the coin to reach $5.13 by the end of the year.

DigitalCoinPrice’s Cardano prediction for 2022 states that the ADA coin price could be $1.90 by February 2022, but go down to $1.83 in the December. Its Cardano prediction for 2023 could see an average price of $2.03; in 2024 an average of $2.13; in 2025 and average of $2.88; and in 2026 an average of $2.47. Their Cardano prediction for 2028 is $4.51. 

FAQs

As of 13 January 2022, there are 33.51 billion ADA coins in circulation, out of a maximum supply of 45 billion. That’s almost 75% – according to CoinMarketCap. 

There is no pubished forecast data to suggest Cardano will reach $10 within the decade; but CoinPriceForecast suggests the coin could be worth $6.33 by the middle of 2033. It is worth bearing in mind, though, that cryptocurrencies are highly volatile and price forecasts are very often wrong, so you should always exercise caution.

DigitalCoinPrice suggests a value of $2.88 for the year, Wallet Investor suggests highs of around $7.46 and CoinPriceForecast suggests a mid-year value of $2.96. These figures are highly speculative, so you need to do your own research before committing to ADA.

The ADA coin might be, but equally, it might not be. Always remember that cryptocurrencies are extremely volatile and that prices can go down as well as up. You should always do your own research and never invest more money than you can afford to lose.

Cardano to US Dollar
Daily change
1.09504
Low: 1.04729
High: 1.14798

Further reading

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