Price Predictions

Cardano(ADA)/USDT Price Prediction: 16 December 2021

Cardano ADA Price

Overview

 

For quite a few years, Cardano has been said to be heavily undervalued as it’s back with strong fundamentals and a great team. Having roots with the Ethereum platform, Cardano emphasizes more on scalability and sustainability. Its Proof-of-Stake offers a much better environment than the current Proof-of-Work of Ethereum due to less energy consumption. However, ETH is also on the verge to flip to PoS soon. 

 

The smart contracts on Cardano are expected to be the real game-changer for the platform as the high gas fees on Ethereum is a huge concern for all. And hence realizing these concerns, the founder builds ADA to address the issues. However, the slow and silent trend is a little worrisome for the community. Having very little time left to end the yearly trade, Will the ADA price spike to $5? Let’s check out.

 

Cardano(ADA) Fundamental Analysis

 

Then the co-founder of Ethereum started building such crypto which could overcome the limitations of the Proof-of-Work consensus. Therefore Charles Honkinson began the development in 2015 and officially launched the platform in 2017. Cardano considers itself as a good replacement for Ethereum and is termed as the third-generation platform using the PoS algorithm. 

The Cardano ecosystem is completely decentralized and backed by its partners The Cardano Foundation, EMURGO & IOHK. Cardano native crypto-asset is ADA, whose name is derived from a great mathematician, ‘Ada Lovelace’. The development of the platform is yet again divided into different phases,

  • Byron Era (Foundation)
  • Shelly Era (Decentralization)
  • Goguen Era (Smart Contracts)
  • Basho Era (Scaling)
  • Voltaire Era (Governance)

The most interesting part is, the names of each era are derived from popular mathematicians. After competing with Byron and Shelly, ADA just completed the Goguen Era with the launch of Smart Contracts in September 2021. Smart Contracts on Cardano is offering tough competition to the leader Ethereum. Moreover, the platform will soon be the home of numerous DeFi projects and NFTs. 

 

Will Cardano ADA Price Reach $5 By 2021?

 

Cardano crypto price ever since the 2018 crash maintained a silent rally until the beginning of 2021 which led the crypto space on fire. The ADA token price closed the previous year’s trade on a bullish note that continued until the May 2021 crash. Ever since the beginning of 2021, the asset showcased a gigantic rally that spiked above $3. 

 

On the other hand, with the launch of the Smart contracts, Cardano received huge support as more than 100 were deployed in just 24 hours. But the native token, ADA price appeared to be in deep trouble. Despite multiple attempts in breaking through the consolidation, the asset failed every single time. 

 

As the crypto space stepped in the last month of 2021, the market yet again faced an extreme sell-off. While the other asset faced a huge loss of more than 20%, ADA price stood strong above $1 support levels. The asset may relax for some time shopping around similar levels until the Altseason gears up. Further could rise the next leg up towards the strong resistance levels around $2.3 ensuring through $1.72, $1.92 and finally surpassing crucial zones at $2.06. 

 

Cardano price today is around $1.29 with a jump of nearly 3.18% and trading volume stands just above $1 billion. Considering the present market condition, ADA prices could hover between $2.5 to $3 by the end of the year 2021. 

Additional Read: Cardano ADA Technical Analysis

Factors Affecting Cardano ADA Price Today

 

ADA prices witnessed a nice surge from $0.1 to its ATH at $3.160 before the Alonzo Hard Fork. One of the major factors affecting the ADA price is that only 27% of the total supply is in circulation. And the other 73% is staked which comes to nearly 23.9 billion ADA across 921,323 delegators out of a total supply of 33.3 billion ADA. 

Secondly, the strong fundamentals and developments across the platform have secured ADA as a safe-heaven for a long-term investment. The recent Smart-contract launch may turn the tables for Cardano coin as more promising and lucrative projects are being built on the blockchain. And hence Cardano may address the issues faced using Ethereum blockchain like scalability, sustainability and most importantly high gas fees. 

Coming to the technicals, the Relative Strength Index(RSI) appears to have cemented to the lower regions from some time. On the other hand, MACD could point towards a trend reversal in a couple of days as the selling pressure is appearing to be eased out. And hence after a healthy accumulation, a nice rebound may be pre-programmed.  

 

Where to Buy Cardano(ADA)

 

Cardano crypto is one of the most popular and trusted assets for long-term investment. And hence ADA is listed on all the major platforms in the world. If you are wondering where to buy ADA in India, then there is no better place than CoinDCX.

CoinDCX is one of the popular and most-trusted exchanges in India that offers hassle-free trades at affordable prices with a unique user experience. All you need to do is download CoinDCX mobile app on your smartphone and start registering for free to enter the world of crypto trade at a single touch.


Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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