Cardano (ADA) price
Cardano is a decentralized platform that aims to deliver more advanced features than any other blockchain project. It is the first cryptocurrency to be based on a scientific philosophy and peer-reviewed research. Cardano uses a unique proof-of-stake algorithm called Ouroboros, which ensures security, scalability, and sustainability.
Cardano's native token is ADA, named after Ada Lovelace, the 19th-century mathematician and computer pioneer. ADA is used to pay for transactions and smart contracts on the Cardano network. ADA can also be traded on various cryptocurrency exchanges, such as Binance, Coinbase, Kraken, and more.
Cardano has a fixed supply of 45 billion ADA coins that will ever exist. New coins are introduced through a process called coin minting. Coin minting reduces the rate of new ADA introduction by half approximately every 4 years. This happens via a preset mathematical formula and is not based on block heights like Bitcoin.
The first Cardano halving occurred in August 2021, reducing the annual rate of coin issuance from about 1 billion ADA to around 500 million ADA per year. The next Cardano halving is estimated to happen around August 2025, further lowering the annual minting rate to about 250 million ADA.Halvings are done to control inflation and maintain scarcity of the ADA coin over time. It mimics asset scarcity in precious metals.
Each halving reduces the inflation rate of the currency, which some analysts believe could boost the price of ADA after it occurs due to reduced coin supply entering circulation. However, the impact of halvings on price is not guaranteed and depends on other market factors as well. ADA value is ultimately determined by supply and demand dynamics.
Cardano price live
The live Cardano price today is $0.244013 USD, with a 24-hour trading volume of $113,616,206 USD. Cardano is down 0.48% in the last 24 hours, according to CoinMarketCap. The current market capitalization of Cardano is $8,571,791,734 USD, making it the seventh-largest cryptocurrency by market cap as of September 30th, 2023.
The Cardano price today (on the day of writing)is influenced by various factors, such as supply and demand, news and events, market sentiment, and technical analysis. You can track the latest Cardano prices with our real-time price charts, which show the current and historical data of ADA/USD and other trading pairs.
The line chart tracking the price of Cardano (ADA) over time can show traders and investors the historical performance and trends of the cryptocurrency. The chart typically displays the ADA price in US Dollars or another fiat currency along the y-axis, and dates or time periods along the x-axis. This allows users to easily visualize how the value has changed hourly, daily, weekly or monthly.
When viewing the Cardano graph, popular timeframes include 1 hour, 1 day, 1 week and 1 month candles. Zooming out further to view years of price action on a line chart can provide meaningful context about longer term Cardano trends and overall market cycles.
The Cardano chart will fluctuate daily and show rises and falls in the ADA price. Significant events like announcements, listings on new exchanges or network upgrades may cause visible spikes or dips on the graph. Understanding past price behavior can help predict future price movement.
In addition to the charting interface, some crypto price tracking sites include a Cardano calculator to estimate the potential value of holdings under different price scenarios. Traders may use this calculator to simulate profits or losses if ADA reaches certain price targets. However, past performance does not guarantee future results.
Common trend indicators like 50-day and 200-day simple moving averages are often displayed on the Cardano line chart to identify entry and exit points more easily. Crossovers of the short-term average with the long-term average signal potential trend changes.
Some of the indicators that you can use are:
- Bollinger bands: These are bands that surround the moving average and show the volatility of Cardano price. They can help you spot potential breakouts and reversals.
- RSI: This is an oscillator that measures the momentum of Cardano price. It can help you identify overbought and oversold conditions, as well as divergence signals.
- MACD: This is another oscillator that shows the difference between two moving averages. It can help you spot trend changes and crossovers.
You can also use the chart to perform your own technical analysis, by drawing trend lines, channels, Fibonacci retracements, and more.
Cardano price history
Cardano was launched in 2017 by Charles Hoskinson, one of the co-founders of Ethereum. The project was funded by an initial coin offering (ICO) that raised $62 million USD. The first version of Cardano, called Byron, was released in September 2017, along with the ADA token.
The initial Cardano price was $0.02 USD per ADA. The price remained relatively stable until November 2017, when it started to rise rapidly along with the rest of the crypto market. By January 2018, Cardano reached its all-time high of $1.33 USD per ADA, with a market cap of over $33 billion USD.
However, this was followed by a sharp decline that lasted for most of 2018 and 2019. Cardano price dropped below $0.03 USD per ADA by March 2020, losing over 95% of its value from its peak.
The year 2020 marked a turning point for Cardano, as it launched its second version, called Shelley. This upgrade introduced staking and delegation features, allowing users to earn rewards for securing the network. The Shelley launch boosted Cardano price by over 300% in July 2020.
The year 2021 was even more bullish for Cardano, as it launched its third version, called Goguen. This upgrade enabled smart contracts and decentralized applications (DApps) on the Cardano network. The Goguen launch propelled Cardano price to new highs, reaching over $3 USD per ADA by September 2021.
The year 2022 was a mixed bag for Cardano, as it faced some challenges and opportunities. On one hand, Cardano faced increased competition from other smart contract platforms, such as Ethereum 2.0, Solana, and Polkadot. On the other hand, Cardano continued to develop its ecosystem, with more partnerships, integrations, and innovations. Cardano price fluctuated between $1 and $4 USD per ADA throughout the year.
The year 2023 has been positive for Cardano so far, as it launched its fourth version, called Basho. This upgrade improved the scalability and performance of the Cardano network, allowing it to handle more transactions and users. The Basho launch boosted Cardano price by over 50% in September 2023.
Cardano price prediction
Cardano is one of the most ambitious and innovative projects in the crypto space, with a vision to create a global platform for social and financial inclusion. Cardano has a strong team of developers, researchers, and partners, who are working hard to deliver on its roadmap.
Cardano has also a loyal and growing community of supporters, who believe in its potential and value. Cardano has attracted many investors, both retail and institutional, who see it as a long-term investment opportunity.
However, Cardano is not without risks and challenges. Cardano faces stiff competition from other blockchain platforms, who may offer faster, cheaper, or more user-friendly solutions. Cardano also faces regulatory uncertainty, as governments may impose restrictions or bans on cryptocurrencies.
Therefore, predicting the future price of Cardano is not an easy task. It depends on many factors, such as supply and demand, market sentiment, innovation, adoption, and more. However, based on some expert opinions and analysis, we can provide some possible scenarios for Cardano price in the next few years.
According to some experts, Cardano price could reach $3.67 USD per ADA by the end of 2023 (68% increase), $5.88 USD per ADA by 2025 (170% increase) and $15.18 USD per ADA by the end of 2030 (596% increase).
Of course, these are just estimates and not guarantees. Cardano price could be higher or lower than these predictions, depending on how the market evolves and how Cardano performs.