Cardano is one of the top digital assets in the crypto world. The digital asset endured a though period months ago during the extended bearish season. It is now enjoying the current market upswing. The market capitalization of ADA is $1.3billion. The trading volume of the coin is $183million. The monthly price action of ADA shows that the price of Cardano has depreciated by 40% against the market leader, Bitcoin. Cardano has announced several new features in the sector to draw more adoption. The network has also engaged partners to drive its ambition as a top ten coin forward.
Cardano’s Hoskinson Enters Into Partnership With Polymath for Security Tokens Initiative
Cardano has reportedly entered an accord with Polymath to create Security Tokens. This is one of the ways the network is using to drive adoption and impact the price of Cardano. Anew virtual machine was also introduced by Cardano. The goal is to allow customers to use dApps on the Cardano Blockchain. Another feature that makes transactions easier was introduced, known as infinito wallet. this The recently signed MoU between Cardano with Mongolian Fintech Association allows Blockchain-powered tracking system to reduce the long-standing issue of adulterated drugs that are distributed in different regions in Mongolia. It is safe to say the price of Cardano has a strong future trend due to its current market position.
Comparing the Price of Cardano From the Last 30 Days to Now
The speculation regarding the price of Cardano reaching the $0.55 mark can still become a reality because the performance of the coin is remarkable. There are typically fluctuations in crypto price, hence nothing can be sure. Predictions are just suggestions nothing more. But as of September 21 last year, the price of Cardano increased by 12%. However, it failed to hold that momentum for an extended period.
The upward movement of 10% in the price of Cardano has been seen in the last 30 days. The price of Cardano has risen to $0.100. The least was recorded at $0.059 in the same period and in the last seven days. By April 18, Cardano’s market cap was at $2, 159,230,686. The price of Cardano was $0.083 and its 24 hour volume was $68,001,443. The price of Cardano will reach its initial resistance at $0.097 in coming days.
The Price of Cardano Will Reach $50 by the End of Next Year
The price of Cardano has increased by 2 and a half times in the past 5 months. The coin went from starting the year at $0.040 to reaching $0.100 in April. The price of Cardano saw its highest value at $1.33 in January 2018. Investors are currently following the price of Cardano closely because the network has been making the technology handle real-world issues. Hence, ensuring mass adoption is feasible for the currency. The price of Cardano can rise to $5 by year end. It can cross $50 by 2020 end.
Cardano is arguably one of the best coins for the year so far. Making huge investments today will likely lead to massive dividends for long term investors. It will be wise to buy and stack up ADA now and enjoy gains later.