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Cardano price (ADA): opinion, evolution and prediction

Cryptocurrency projects around an open source blockchain and smart contracts are growing more and more. The Challenge is entering an era of masterful growth, driven by the explosion in the crypto currency price of many digital tokens. What about Cardano? How has the price of the ADA token evolved? Everything you need to know about the Cardano price, its history and the forecast in our Cardano review.

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Price and value of Cardano (ADA)

 

We begin our overview of the Cardano cryptocurrency (corner under the acronym ADA) with the most complete possible history of the key facts that have marked the evolution of the value of the digital coin and which explains the Cardano price in 2021.

Cardano Euro price (ADA) in 2017

 

The adventure of creating digital currency dates back to 2015 with the founding of the platform which is at the center of the exchange network. Yet the very first token was officially released on September 29, 2017. This period is known as the first wave of meteoric growth in the number of cryptocurrencies available. The Cardano (ADA) course is no exception despite its recent introduction.

Like others with ADA, the Cardano value starts at a low level: 0.02 euro. In a vein identical to Bitcoin or other Ethereum, crypto currency madness wins the Cardano coin, which allows its unit price to drop in November 2017 (barely 2 months later) to 0.10 euro cents. 

In a third, in December 2017, the ADA course takes off once again. It reached a first all-time high with a value of 0.56 euro. A spectacular increase of + 3000% compared to its IPO price.

Cardano (ADA) price in 2018

 

Following this prosperous and engaging period, the year 2018 shows the first limits of cryptocurrency which operates on a blockchain system and smart contracts (smart contracts) like Ethereum. The variation in volatility is felt.

First of all, a constant rise in the Cardano Token which takes it to a new peak of 1.02 euros on January 4, 2018. Vertiginous rise followed by a fall which is equally so with a Cardano Coin which falls back to a unit price of 0.47 euro. The fall continued until March 2018 when the price reached the first level of 10 euro cents in November 2017.

During the second half of the year, things don't get better. On the contrary, since the ADA Cardano token is flirting with its introductory value, ie 0.02 euro.

 

Cardano (ADA) price in 2019

 

Less is happening in 2019 for cryptocurrency. She is not the only one in this case. Cardano crypto is going through a period of calm and stabilisation. Over the 12 months of 2019, the unit price of the token fluctuates between 0.03 euro and €0.08.

 

Cardano price in euro (ADA) in 2020

 

The least we can say is that the global Coronavirus pandemic has not had a negative impact on the evolution of the virtual room. After the crash of March 2020 which affected all stocks, a rebound began at the beginning of the summer with a return of the unit price to around 10 euro cents.

Other periods of volatility follow. During a variation, the increases and decreases alternate very quickly. Finally, unlike exploding Bitcoin, the price of Cardano progresses slowly to reach the price of 0.15 euro.

 

Cardano (ADA) price in 2021

 

The year 2021 is about to make history with its dynamism and all the records broken one by one by a very large number of cryptocurrencies available on the market. 

At the beginning of January, the start of the increase is already being felt with a first price measured at 0.30 euros. This is just the start of the festivities. The value of the token is multiplied by 4, with a price of 1.21 euros (1.33 USD). In March, a slight drop began, followed by a period of stabilisation. 

In June 2021, users can exchange their cash for Cardano coins in an ADA / EUR transaction of around 1.28 euros each.

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Cardano Price and Value Prediction (ADA)

What prediction on Cardano is made by crypto experts? We will focus on the short term and the long term.

 

Short-term Cardano price prediction

 

A global consensus seems to have taken hold of the opinion of sites / magazines specialising in crypto. Wallet Investor and Trading Beats agree that the coin will continue to rise:

  • For Wallet Investor, it is a question of a fundamental uptrend with a unit value stabilising in a range of 1.28 USD and 1.63 USD (minimum €1.06 / maximum €1.34);

  • At Trading Beats, this range is, for the end of the year, between $1.21 and $1.81 (€0.99 / €1.49);

  • Long forecast analysts share this year-round uptrend view. The forecasts are even more optimistic with a price included in 1.53 USD and 1.89 USD (minimum €1.26 / maximum €1.56).
     

The year 2021 should benefit cryptocurrency as it already benefits several digital currencies. With Bitcoin (BTC) and Ethereum (ETH) at the top of the rankings. In their opinion, there is still plenty of room for many crypto projects that have learned from the experiences accumulated during their development, or that of another.

 

Long-term Cardano price prediction

 

In the longer term, the voices begin to show dissonance.

For Wallet Investor, the good results of 2021 should be confirmed throughout the year 2022. With potentially a new high of prices around $2.12 maximum (€1.75).

For experts at Trading Beats, the upturn will end in 2022. A basic downtrend will set in with a unit value of $1.07 - $1.50.

Wallet Investor experts are even betting on a longer forecast sustainable growth with a price of the token which could experience a new boom accompanied by its peak: $3 (€2.47).

For Long forecast, by 2025, after a series of more or less significant periods of variation, the token should settle in a curve between $1.29 and $1.50 (minimum €1.06 / maximum €1.24).

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Definition: Cardano crypto (ADA), what is it?

Who are the thinking heads at the start of the Cardano project? What is the objective (s) of cryptocurrency? How does the network work? To discover our complete and explanatory summary.

 

Creation history

 

The Cardano cryptocurrency takes its name from the collective founded around the creation of digital coins. This collective name was initiated by the name of a renowned Italian scientist.

Its structural development began in 2015 but its official launch did not take place until September 29, 2017. All the preparatory phases are the result of a close partnership between the company Input Output Hong Kong and one of the former founders of 'Ethereum, Charles Hoskinson.

These last elements explain very concretely why the operation of the Cardano blockchain is a 2.0 replica of that used within the framework of the ETH project, that is to say with a clearly defined objective to submit to users, without distinction of competence or medium, decentralised payment solutions, without being subject to the governance of a third party (eg a bank).

Cardano has a quite different philosophy from other crypto projects circulating in the market. Indeed, the technical contributors to the implementation of the blockchain and its decentralised applications (Dapps) come from universes as varied as Finance or astronautics.

Little by little, the network is growing in order to serve the DeFi (Decentralised Finance) ambitions in Cardano's sights. Growth occurs in stages to maintain the flexibility of the system. A protocol system where anonymity, data protection and efficient regulation by users coexist.

Since the start of the adventure, trust between users has been an inseparable motor, which Michael Parsons (CEO of Cardano) has strived to maintain so as not to degrade the concept.

 

What is it for?

 

Like other crypto currencies with decentralised applications (Ethereum), Cardano offers itself the luxury of going beyond its simple condition of virtual currencies, such as Bitcoin (BTC) or its derivative Litecoin (LTC). Cardano fulfils 3 main functions:

  • A simplified and secure online payment method. This is how the Ethereum source code was modified to give birth to a 3rd generation cryptocurrency that integrates very naturally into an economic ecosystem that tends towards dematerialised payments. More and more sites now offer the possibility of paying in cryptos including Cardano which is developing in this direction. For example, in sports betting or certain e-commerce sites;

  • The financial transactions between users quick and simplified through the Ouroboros protocol that is in capacity to handle 1 million financial transactions per second on blockchain. It is an ideal, suitable and inexpensive way to do business or pay for a service in a few seconds with the best guarantees that the transmitter and receiver of the smart contract respect the agreed terms of the transaction;

  • A very versatile trading asset. Also in the logic of DeFi, Cardano coins were thought to be simply used as a currency against another digital currency, via the blockchain or not. It is therefore quite possible to trade, thanks to coins, other crypto currencies with which to exchange them. For example: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), NEM, etc. This capacity is very specific since it is based on additional chains which evolve independently while maintaining interoperability between the different elements of the network.

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Blockchain Cardano: how does it work?

The first thing to establish about the Cardano blockchain is that it is based on a Proof of Stake protocol. The name of the algorithm used is Ouroboros. The PoS protocol promotes collaboration and the sharing of resources between each user. It is to be put in opposition with the Proof of Work (PoW or proof of work) which a system which exploits the energy of each user individually. For example, the Bitcoin (BTC) blockchain works in PoW. The 2 big advantages of a PoS type blockchain are a colossal saving of energy to run the network and a significant saving of time in the validation of financial transactions.

But the peculiarities of Cardano do not stop at this one element. As we indicated above, the technical contributors to the development of the network and the blockchain come from many research circles. This directly impacts the foundations of the system. Smart contracts are the pragmatic expression of this. Everything is automated in order to facilitate decentralised applications (Dapps) in parallel.

The effectiveness of cryptocurrency is based on permanent innovation in the security and protection of user data, which fits perfectly into the new logic imposed by the regulatory authorities.

2 systems coexist:

  • Management of transactions carried out on the ADA coin blockchain via the CSL (Cardano Settlement Layer);

  • Development and execution of Dapps via CCL (Cardano Computation Layer).
     

Great transparency is required for the entire project. It is possible to follow, by each user of the platform, the developments made, started and planned in the Cardano Roadmap which is a monitoring register divided into 5 tabs: Byron, Shelley, Voltaire, Goguen and Basho. Each section deals with a set of specific features that are accessible by the corresponding codes.

How to get Ada crypto?

 

Let's move on to the more practical part: what way is there to add coins to your Cardano Wallet? 3 main methods must be identified to obtain these tokens legally: 

  • Use of a trading platform;

  • Block mining;

  • Registration on a Faucet Cardano site.

 

Obtain the cardano via brokers

 

In our opinion, it is much easier for even a beginner trader to go through a broker to collect Cardano tokens.

When we talk about brokers, 2 ways of doing things compete for the attention of users:

  • Open a trading account with a CFD broker to speculate on the upward and downward price variation. Ex: eToro, Libertex, XTB, etc;

  • Register on a crypto exchange platform to make a purchase via a credit card or Paypal of Cardano coins / sell crypto currencies in possession / exchange Bitcoin (BTC) or Ether (ETH) for Cardano token / store digital currencies in your wallet or send them to an independent wallet.

 

Forex / Stock CFD Broker

 

The use of a forex CFD broker is that it is a very complete platform. Traders have access to several types of financial markets: forex for currencies, stocks of listed companies, stock market indices (ETFs), commodities (like gold or oil) and crypto assets. It's a good way to diversify your investments without having to manage multiple trading accounts.

The fees of forex / equity CFD brokers are among the most competitive on the market. It is possible to carry out transactions on a very small scale by taking advantage of the presence of leverage which increases the investment thanks to a credit granted by the broker. This leverage is a source of increased income and proportionately increased losses in the event of a losing position.

In our opinion, this is a fantastic gateway to the crypto market, without having to deal with things like storage or the best time for a long-term purchase to make your cash grow. Graphical analysis via technical indicators allows you to take advantage of each variation (rise / fall) in the price of an active crypto including Cardano. Ex: eToro, Capital.com, XTB, Libertex.

 

Specialised crypto platform

 

Amateurs and long-term cryptocurrency investors have every interest in opening an account on a specialised platform. A set of tools is brought together to facilitate transactions (purchase / sale / exchange) and storage in an integrated wallet (or wallet) as much as possible. 

Another significant asset to note: the wide variety of crypto assets available. This makes it easier to trade between digital currencies a bit like forex pairs. It is possible to buy against cash (in euros for example) or via funds paid during a deposit by credit card / Paypal / bank transfer; or to make a direct purchase of Cardano tokens through an authorised means often the credit card or Paypal.

A crypto platform - like Binance, Coinbase or Kraken - is a guarantee of great security of personal and financial data and of benefiting from the best quotation prices, without the risk of shameful margin taking by the operator.

It is a complete and functional ecosystem where it is easy to invest and manage a portfolio of crypto currencies to develop its capital.

 

Mining the cardano

 

As stated previously, the Proof of Stake protocol is based on a network of collaboration and sharing of resources. When a smart contract is submitted to the network, the users (minors) initiate the solution of the equations submitted by the Ouroboros algorithm. In other words, machines across the network do all the validation work.

When a block is broken, the miners involved are rewarded with Cardano coins, which are either stored in the wallet of the mining software being used or in a personal wallet.

 

Faucet Cardano

 

A Cardano faucet is a tap that regularly distributes tokens to

registrants who request them. In general, this distribution is

scheduled every 60 minutes, every day of the week without

interruption. At each connection, the user can claim his share,

which varies according to criteria specific to the Faucet

platform used.

Other methods are available to pocket additional coins: 

  • Watch paid advertisements;

  • Validate captcha;

  • Participate in the referral program by sharing its affiliate link.
     

The minimum withdrawal from the integrated wallet is often set at 1 token. Transferring from one wallet to another is easy, at no cost. The faucet principle is available in all major cryptos: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), etc. This is a great way to acquire tokens for free.

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Wallet Cardano: how to find?

One thing is certain when it comes to crypto currency trading, it is essential to have a digital storage wallet to secure your precious Bitcoin (BTC), Ethereum (ETH) or Cardano (ADA) coins. Opening an electronic wallet is a prerequisite for getting into decentralised finance by reducing the risks of hacking while waiting to benefit from the best price variation forecasts.

Cardano is no exception to other crypto assets. Several types of wallet are available on the market. Each user finds advantages and disadvantages according to his preferences and means:

  • Cardano Hot Wallet: Free, online and convenient version of digital wallets. It is a very accessible way to shelter your ADA tokens from an Internet connection and your favourite browser. You can retrieve them at any time from your account to transfer them to an exchange platform. The big downside of a Cardano Hot Wallet is exposure to the risk of piracy. Ex: Coinbase Wallet;

  • Cardano Desktop Wallet: the computer version of the browser-based wallet. It works like a Hot Wallet, but you must first install wallet software on your computer. We find the same risk of exposure to hacking because a connected computer is a machine at risk. Ex: Atomic Wallet;

  • Cardano Cold Wallet or physical wallet: the ultimate in security and convenience. This wallet is presented as an encrypted USB key where information relating to digital possessions is stored and inaccessible from the outside. A big downside: the purchase price. Ex: Cardano Ledger Nano X.

67% of retail investor accounts lose money when trading CFDs with this provider. You have to ask yourself if you can afford to take the high risk of losing your money.

Advice: should you invest in Cardano?

ADVANTAGES

Opportunity
 

  • Cryptocurrency project that continues to develop to offer new solutions to facilitate payments and integration with decentralised finance (DeFi);

  • Versatility of virtual currency: storage for added value, exchange, trading;

  • System based on its use. More users = a rising price.

DISADVANTAGES

Risks
 

  • High volatility;

  • Uncertain forecasts as to its sustainability in the market in the face of aggressive competition.

FINAL CONCLUSION

It must be admitted that it is very difficult to give a definitive answer to the question of the relevance of an investment in Cardano coins. 

However, if we were to give an opinion now, several elements suggest that the Cardano is an interesting option for using your cash money. The large dynamic community and the content of the project make it one of the crypto currencies to watch.

Its evolution is not yet as remarkable as Bitcoin but several analyses prove that great opportunities are still to come. Its low purchase price is an additional motivation.

67% of retail investor accounts lose money when trading CFDs with this provider. You have to ask yourself if you can afford to take the high risk of losing your money.