Cryptocurrency news today has not been favorable to most altcoins. At press time, according to Coin Market Cap, Cardano is the top winner in the top ten digital currencies. Smartereum predicted that Cardano will become a top 5 cryptocurrency in 2020. This Cardano price prediction 2019 comes after extensive research on the applicability of the coin. Is Cardano the best cryptocurrency to invest 2019?
Cardano (ADA) Price Today – ADA / USD
Cardano is a blockchain based system which is fully decentralized. It runs on the Cardano platform. The platform bears some similarities with Ethereum when it comes to running a smart contracts-based system. It is also used to execute dApps. The network has an edge over other cryptos with these same capabilities – it has a 2 layered system. Each layer runs separately. One runs the ADA exchanges while the other layer executes all smart contracts.
This platform has advanced technology with the main goal of providing secure and fast exchange platform. It also permits the users to run different apps seamlessly and concurrently. The use of smart contracts makes it more attractive for corporations and large organizations.
Cardano price prediction 2019/ Cardano price analysis
Top 10 Cryptocurrencies prices during the past hour
The biggest winner of the hour was Cardano $ADA, reaching a price of $0.085114627; an increase of 1.26%
Tether $USDT was the biggest loser, it has dropped to $1.01, representing a loss of 0.00%
— Crypto Gulp (@CryptoGulp) April 9, 2019
ADA is currently being traded at $0.084492 according to Coin Market Cap. The cryptocurrency has a market cap of $2,178,893,621 and this places it at the 9th spot in the entire crypto market. Presently, the coin has 25,927,070,538 ADA coin in circulating supply. Also, considering the 24-hour price movement, about $137,045,451 has been traded. Analysts believe that the coin has a 288.19% approximate return on investment. This figure was gotten from Coin Market Cap.
Is Cardano the best Cryptocurrency to invest 2019?
The coin has seen a huge growth in its market trend, and it achieved all this within a short time.At the beginning of March 2019, the market cap of the coin was at 1150 million. ADA price was also at $0.043629. the market saw a 65% growth at the end of March and reached $0.073065 and had a market cap of $1,894,360,212.
The market saw more growth on the fourth day of April and its market cap was $2,587,720,799 and the coin traded at 0.099808 USD. This figure amounts to 36.60% increase. However, ADA price saw a drop of 18.76% from its peak values.
ADA price prediction 2019
Several top analysts have dropped predictions for the coin for the end of the year. Some predict that ADA price would reach $0.40 by the end of the year. For a longer-term price prediction, analysts predict a spike to $1 by 2020. If the coin continues in this trend, the price can spike to $2 by 2024.
Other analysts believe that it is a profitable investment in the long term. The price is estimated to rise by about 98.46% in 2020.
The coin’s market growth is impressive. Even though it has been swift, analysts believe it will be sustained. To determine if it is the best cryptocurrency to invest 2019, traders and investors can follow the current market trends. However, in the short and long term, the coin seems to have a positive outlook.
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.