Cardano price development since the beginning of 2021
Investing.com – and usually dominate the headlines of the relevant financial media. In the last few weeks, however, a completely different crypto currency has caused a sensation: ADA, the native cyber motto of the crypto project .
With a performance of 1,094 percent since the beginning of the year, ADA dwarfs the two top cryptocurrencies in the world, Bitcoin and Ethereum. namely only comes to plus 38.75 percent, after all to 288.45 percent.
Cardano course current
According to Investing.com data, an ADA is currently changing hands for $ 2.12. With a market capitalization of $ 67.92 billion, Cardano now ranks third among the most important cryptocurrencies in the world.
It made its record high out in May. At that time the exchange rate rose to a peak of $ 2.46. Then there was a sharp correction that had pushed the token back to the psychologically important level of $ 1.00. This was followed by a dynamic countermovement that caused the Cardano price to rise to $ 2.25 on Sunday. This puts the digital currency just under 10 percent below its record high from three months ago.
How the Cardano course will develop in the future cannot be said with certainty, but many experts and investors are already making forecasts.
Long-term future prognoses should always be viewed with skepticism, because there is no guarantee.
There are several factors influencing the cryptocurrency market, including government regulations and comments from famous people.
Cardano course forecast
Cardano could climb to $ 3.71 by the end of 2021 and $ 6 by the end of 2024, CoinPriceForecast believes. According to the forecast page, the cyber currency should not reach the $ 10 mark before 2029.
The developers at WalletInvestor are more optimistic, predicting the Cardano price at $ 3.928 in one year and at $ 11.010 in five years.
The forecast model developed by Digital Coin sees the ADA rate at the end of 2021 at $ 3.15, followed by an increase to $ 3.82 in the following year.
In 2028, the platform estimates the Cardano price at $ 9.43.
What is Cardano?
The starting signal for the Cardano project was given in 2015, before the platform was completed and made available to the public in 2017. It was created by Charles Hoskinson, a co-founder of Ethereum.
ADA is the native cryptocurrency of the Cardano platform, inspired by academic research. Every transaction is recorded permanently and transparently in the platform’s blockchain. The Cardano Foundation acts as the guardian that promotes and standardizes the platform. Input Output Hong Kong (IOHK) is responsible for building the blockchain and developing the tools for its application.
According to a study by Kursat Aydinli at the University of Zurich: “Cardano is a Proof-of-Stake (PoS) blockchain that was initiated and developed by the IOHK Foundation, a technology company that operates on a peer-to-peer basis – Specializes in peer applications and cryptocurrencies. “
Bitcoin, like Ethereum, uses a proof-of-work system. There are two essential layers: the Cardano Settlement Layer (CSL) and the Cardano Computational Layer (CCL). In the CCL, ADA transactions are processed almost immediately and with the lowest transaction fees.
One of the most common criticisms of Cardano is its non-existent smart contracts functionality. But that should change soon. . According to the chief developer of the blockchain, the last phase of the Alonzo upgrade, which is dedicated to smart contract integration, will come in September.
The smart contract functionality allows Cardano to integrate more applications, including so-called decentralized financial platforms (DeFi), which enable automated lending and trading in cryptocurrencies. With this improvement alone, the network would be in a better position to challenge the big opponent Ethereum, the current top dog among blockchains with smart contract functionality.