Cardano Price Prediction

Already convinced by a bullish Cardano price prediction? You can buy Cardano on eToro, WeBull, Uphold and Gemini.

The 2022 cryptocurrency bear market has been nothing short of brutal. At the time of writing, the cryptocurrency market is in one of the deepest periods of realized losses ever. Many investors have lost interest, while others have exited the cryptocurrency market entirely. However, despite the doom and gloom, the cryptocurrency market has historically always made a resounding comeback. In hindsight, times of extreme fear have turned out to be excellent opportunities to scoop up bear market gems (undervalued bear market projects) at dirt-cheap prices. 

Among the few bear market gems is Cardano – a leading Ethereum competitor and one of the most respected altcoins in the cryptocurrency industry. As a more volatile alternative to Ethereum, Cardano tends to outperform in bull markets and underperform in bear markets. From the 2020 COVID-19 lows to its all-time high (ATH) in August 2021, Cardano exploded by a mind-blowing 18,000% – providing a 180x return for investors that bought the dip. 

However, is this time different? Will Cardano reclaim its position as one of the leading Ethereum competitors once market sentiment reverses? This article will explore these questions and more, providing you with a holistic outlook for Cardano in the short term and long term through expert and artificial intelligence (AI)-powered ADA price predictions.

What is Cardano?

Cardano is a blockchain platform that was founded in 2015 by Charles Hoskinson – a co-founder of Ethereum – and launched in 2017. Cardano is a general-purpose blockchain based on peer-reviewed academic research and spearheaded by a multidisciplinary team of mathematicians, engineers, scientists and business professionals.  It is positioned to be a next-generation evolution of the Ethereum idea – with a sustainable, flexible and scalable platform for running smart contracts and facilitating the development of a broad ecosystem of decentralized apps (dApps).

While these projects are secure and decentralized, generation 1 (Bitcoin) and generation 2 (Ethereum) blockchains suffer from bottlenecks that fundamentally limit the amount of throughput they can handle. This feature makes them an inefficient and impractical solution for bridging cryptocurrency to the mainstream market. As a generation 3 blockchain, Cardano solves this problem by improving scalability through its own proof-of-stake (PoS) consensus mechanism called Ouroboros and its unique Layer 2 solution referred to as Hydra.

Cardano’s PoS protocol – similar to Ethereum’s PoS protocol – is designed to reduce the energy expenditure required by proof-of-work (PoW) mining as well as generally improve on the PoS mechanism. Rather than using a network of miners that contribute computing power to verify transactions, PoS uses a network of invested participants referred to as validators that stake their own ADA. As the platform’s native currency, ADA is used for paying transaction fees, sending and receiving payments and staking on the Cardano network. 

The Cardano blockchain is also divided into two separate layers: the Cardano Computing Layer (CCL) and Cardano Settlement Layer (CSL). On the CCL layer, all computations for apps running on the blockchain are executed via smart contracts. Conversely, the CSL contains the ledger of balances and accounts and is where the transactions are validated by the Ouroboros consensus mechanism. The key idea behind splitting the blockchain is to help Cardano process as many as a million transactions a second.

Like Ethereum and other Layer 1 blockchains, Cardano has a vast set of use cases and acts as a base layer for applications to be built upon. 

Cardano Market Position

At the time of writing, Cardano’s market capitalization is approximately $9 billion, making it the ninth-largest cryptocurrency by market capitalization in the world. Cardano, alongside Binance Smart Chain, Solana and Polkadot, are core competitors to Ethereum and key projects within the Layer 1 sector of the cryptocurrency market. 

Cardano’s growth is largely driven by the performance of Bitcoin and Ethereum – the two behemoths in the cryptocurrency space with market capitalizations of roughly $330 billion and $160 billion respectively. When Bitcoin and Ethereum are in a downtrend, Cardano tends to underperform, as investors look to more conservative investments. However, during euphoric times, Cardano tends to outperform, as investors seek riskier projects with more growth potential.

When analyzing Cardano’s market position, it's important to distinguish between market capitalization and price. The low price of ADA can be deceiving to new investors, causing them to inaccurately gauge Cardano’s price potential. Market capitalization is calculated by multiplying the total circulating supply of coins by the current market price of a single coin. It measures the total value of a cryptocurrency on the open market and can be useful for determining growth potential. 

At the time of writing, Cardano’s price is roughly $0.25. Therefore, if ADA were to reach $100, investors would experience a return of 400x. However, more importantly, to reach $100, Cardano would need to reach a whopping market value of roughly $3.5 trillion. This value is larger than the market cap of Apple ($2.3 trillion) – the largest company in the world by market cap.  As a result, when making realistic price predictions, it’s paramount to take into account market capitalization.

Dan Gambardello’s Bullish Long-Term Cardano Price Prediction

Dan Gambardello is the founder of Crypto Capital Venture – a leading recruiting firm in the cryptocurrency, blockchain, and AI sectors – with over 229,000 Twitter followers. In mid-2022, Gambardello told his Twitter followers: “ADA will probably hit $10 a lot sooner than most think.”

Gambardello explained that ADA’s price upon reaching $10 would make Cardano’s market cap over $300 million. He went on further to compare ADA and ETH, suggesting that Ethereum has already achieved a $500 billion market cap in the past, meaning that Cardano doesn’t necessarily have to flip Ethereum to achieve its $10 price point. Gambardello believes that as the cryptocurrency industry grows, Cardano is well-positioned to capture the growing demand for scalable, secure and environmentally sustainable blockchain solutions.

Evan Van Ness Bearish Long-Term Cardano Price Prediction

Evan Van Ness is a well-known die-hard Ethereum maximalist who claims that death is already at Cardano’s door and that the blockchain will soon turn into a zombie chain – a blockchain with diminishing use cases over time.

While Van Ness didn’t provide a firm price target for Cardano, he made it extremely clear that he believes Cardano will phase out of the mainstream crypto market in the near future.

Aside from his strong beliefs in Ethereum’s prosperity, dominant market position and recent upgrades, Van Ness justifies his stance by highlighting Cardano’s slow development speed and lack of infrastructure compared to other Layer 1 competitors. 

2023 Cardano Price Prediction

Changelly is a useful tool that can be used to predict the future prices of Cardano and many other digital assets. ​​It offers a wide range of forecast data that it derives through AI and market research. Overall, Changelly suggests that Cardano’s price should increase over the next few years, although not without risk. 

Based on Cardano’s historical price performance, it is assumed that in 2023, the minimum price of Cardano will be around $0.45. The maximum expected Cardano price may be around $0.55. On average, the trading price may be around $0.47. From current prices, this would be over an 75% ROI.

2025 Cardano Price Prediction

Changelly has an optimistic outlook on Cardano in 2025. The minimum ADA price is predicted to fall to $0.91 in 2025, while its maximum price can reach $1.13. The trade price on average will be about $0.95. From current prices, this would be over a 300% ROI.

2030 Cardano Price Prediction

While 2030 may seem far away, Changelly still provided price predictions for Cardano. Note, it is important to take this prediction with a grain of salt given how far it is in the future. This prediction also assumes that the cryptocurrency market, and more importantly Cardano, will still be relevant. 

Changelly predicts Cardano will be traded for at least $5.43, with a possible maximum of $6.58. As a result, on average, one could expect the ADA price to be around $5.62 in 2030. This would yield a colossal return of over 2,000%

It is important to note that historical performance does not predict future performance. Prediction tools can be useful; however, they are by no means accurate, especially for longer-term predictions. For a more thorough prediction, it is important to consider historical price performance and the macroeconomic backdrop, among other factors.

Where to Buy Cardano

Cardano can be traded on major exchanges such as eToro, WeBull, Uphold and Gemini. Many of these platforms allow you to purchase Cardano using your credit card, through swapping features or by different trading pairs such as ADA/USDT. 

How Long Will It Take for Cardano to Reach ATHs?

Like the overwhelming majority of altcoins, Cardano’s ability to reach its ATHs is largely dependent on the performance of Bitcoin. Bitcoin is the flagship of the cryptocurrency sector, possesses significant first-mover advantages and maintains a dominant market position.

Most experts, such as Benjamin Cowen, believe the bull market could be revived by the end of 2023, which would set the stage for Cardano to increase in price. However, these forecasts are purely speculative and are based on the views of market analysts. It is impossible to precisely foresee how prices will fluctuate in the future.

Another key determinant of the crypto market’s trajectory is Bitcoin halvings. Most investors believe the value of Bitcoin, and therefore many popular altcoins, will increase and may achieve greater growth between now and its fourth halving in 2024. This is another time period in which Cardano could reach its ATH of $3.10. 

Where to Store Cardano Safely

Convinced by a bullish Cardano price prediction above and decided to invest? You should also know how to store it safely. Hardware wallets and software wallets can be used to store Cardano. Hardware wallets are regarded as the most secure way to store Cardano. With a hardware wallet, the only person who can access your crypto is you because it keeps your private keys offline. 

Software wallets enable crypto holders to securely store their digital currencies and tokens in one place. These types of wallets allow users to buy, swap, lend and earn cryptocurrency in an efficient manner. The Coinbase Wallet is an example of a software wallet. 

Best Hardware Wallet: Ledger

Ledger claims to offer the highest level of protection for crypto assets, making it an excellent option for a hardware wallet. In addition to Cardano, Ledger hardware wallets are compatible with more than 1,800 altcoins including Ethereum (ETH), Dogecoin (DOGE), Chainlink (LINK) and all ERC-20 tokens. 

Best Software Wallet: ZenGo 

ZenGo is one of the most secure mobile crypto wallets in Web3. Leveraging MPC technology, ZenGo removes the vulnerability of the need for a private key, making it much more secure than traditional crypto wallets. ZenGo allows users to buy, sell, send and receive Cardano and securely connect to Web3 dApps. 

Current Crypto Prices

The cryptocurrency market is inherently volatile, often fluctuating by large amounts within a short period of time. Prices are extremely volatile as a result of their reliance on investor sentiment and market emotion. As a result, prudent investors will actively follow the prices in the cryptocurrency market.

So, is Cardano a Good Investment?

Overall, if you are a long-term investor, then it may be a good time to start building a Cardano position over the coming months. Cardano could be one of the safest hedges against Ethereum in the cryptocurrency sector. Its dominant market position, vibrant community, resolute academic and scientific philosophies and ambitious roadmap make Cardano a lucrative investment opportunity. 

However, despite the big promises, Cardano has yet to fully deliver – just like almost anything in the cryptocurrency sector apart from Bitcoin. Given Cardano’s relatively slow development and the inherently volatile nature of the cryptocurrency market, prudent investors will only invest money they are willing to lose.

Frequently Asked Questions