The crypto markets have been in a downtrend in 2022 with the Ukraine-Russia crisis, news of Biden signing an executive order on crypto regulation, recession fears, and being correlated to a correction in the S&P 500.
There’s new bullish news for Cardano investors though – its developers announced three major upgrades will be rolled out in 2022, one implemented so far – we’ll list those in this guide and our ADA price predictions.
B2C Cardano Price Prediction – Overview
- In the short-term, Cardano may need to re-test historical support at the $0.3 level to fill the void in the large impulse move it made to the upside during the 2021 Cardano bull run
- The ADA coin price could then consolidate and range between the $0.3 support level and $1 level – now a resistance level – until the end of 2022
- If all ADA upgrades are successfully implemented it might reclaim and flip the $1 resistance level to support in early 2023, printing macro higher lows – confirming a new bullish market structure
- The Cardano price would face little resistance above if it can close a monthly candle back above the $2 level by the end of 2023 – only two monthly candles ever closed above that key level
- If the crypto markets rally in the run-up to the 2024 Bitcoin halving, the most bullish ADA crypto price prediction would see it making a new ATH in 2024, going into price discovery until 2025 – another one year ADA bull cycle with expansion to the upside fuelled by retail investor FOMO
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Cardano Price Chart
Cardano price today – via Tradingview
Cardano Upgrades – Latest News
In a post on Iohk.io, the marketing and communications director Tim Harrison wrote:
‘Following the deployment of smart contract capabilities with the Alonzo update, Cardano is now focused on performance optimization and scalability. We’re now starting to see a diverse range of decentralized applications (DApps) and exchanges (DEXs) launch, with many more to come over the months ahead. 2022 is the year when Cardano starts evolving into a platform to provide sustainable finance (RealFi) for real people.’
The research and development (R&D) firm that created and own Cardano, Input Output, posted a Twitter thread with news of core network improvements as part of an ongoing scaling plan:
As a part of #Cardano’s ongoing scaling plan across three major releases in 2022, we yesterday delivered the first of these, upgrading the core network and introducing some powerful improvements and enhancements 1/n
— Input Output (@InputOutputHK) March 1, 2022
Further upgrades set to take place in 2022 include:
- pipelining and network capacity increases
- performance improvements to Plutus, Hydra and input endorsers
- the deployment of supporting products and architecture from UXTO on-disk storage to light wallets
- a new Dapp store, tools and APIs
- the Mirthril fast sync solution and sidechains
Cardano Price History
The Cardano price began trading at just under $0.02 when it became available to the public in Oct 2017, on Bittrex exchange and later Cryptopia which was hacked and liquidated, now defunct – underscoring the importance of choosing well regulated crypto exchanges if you invest in Cardano or any crypto asset.
Realising the 40x return on investment (4000% ROI) made since then as an early investor wouldn’t have been possible if your ADA had been held a scam site or low security platform.
Cardano price today and from 2017 – present
During the 2017 crypto bull run that saw retail investor FOMO (fear of missing out) push the Bitcoin price to $20k, ADA spiked to over $1 within three months of launch. During the 2018 bear market it then fully retraced the whole move, back to $0.02.
One of the ‘OG’ altcoins, that bull run and reversal encapsulates the volatility of cryptocurrency and shows it is ‘time in the market, not timing the market‘ that makes the difference for an investing strategy, alongside dollar cost averaging (DCA) to get a better average entry – don’t go ‘all in’ at one price point.
Cardano ATH – $3.10, September 2021
The ADA coin price went on to make new all-time highs in 2021 but many Cardano investors would have capitulated and sold their ‘bags’ during the multi-year bear market between those two bull cycles. Some new additions to the Cardano community will have bought the top at $3 and now be wondering if Cardano will go up in 2022 or if they should sell now.
In the past 12 months the Cardano price is down a little under 30%, but from its peak has corrected 75%.
Cardano price history 2021 – 2022
If it does retrace to the $0.3 support level – where it opened for trading on Binance when it was first listed there – it will have repeated past price history and fully retraced a bull cycle.
If it then repeats its past bullish performance – in a fractal pattern – we’d next the top of the next bull run to be 3x higher the previous one again, and Cardano to hit $10.
Nasdaq Business Analyst Cardano Prediction
Josh Enomoto, a former senior business analyst for Sony Electronics who has worked with Fortune 500 companies, wrote in Nasdaq.com that it’s not ‘out of reach‘ for Cardano to break the ‘double-digit threshold‘.
He made that case back in May 2021, and even speculated on an ADA price of $22 by the end of 2022, and potentially $100 by the end of 2027. Altcoins do trend very strongly in both directions, up or down. We’ll analyze that Cardano forecast below and make our own Cardano price predictions.
You can also get Cardano price predictions today at eToro, an FCA regulated crypto platform and social trading network where professional traders share their insights and investors have the option to copytrade them or their portfolio allocation.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Cardano Price Prediction 2022
For the Nasdaq analyst’s Cardano forecast of $10 in 2022 to play out at this point, it would likely require the current red monthly candle on the Cardano price chart to close green, leaving only a wick and short deviation below support – a ‘fake out’ to the downside before reclaiming $1.
That would be achievable if Bitcoin were to move up to $48,000 (25% higher) over the next month or two – achievable if a ceasefire in Ukraine is reached after talks between world leaders.
Alternatively the Cardano upgrades could increase investor confidence in ADA enough for it to decouple from Bitcoin and move up on its own. However it happens, ADA would need to get back above $1 as soon as possible and rally to test the $1.50 – $2 level – that’s possible based on the chart even as part of a short squeeze and putting in a lower high before further downside – shorts rarely get a free ride all the way down.
Update – shortly after this post Bitcoin pumped 11%, back over $42,000, after it emerged Biden’s call for crypto regulation wouldn’t be too excessive.
Next Cardano Bull Run?
Then Cardano would need to go on a 5 – 6x bull run the remainder of the year sparked by news of all its upgrades being successfully implemented and the optimizations being noticeable, and target $10. That kind of price expansion has happened before in Cardano’s price history.
Reaching $22 by the end of 2022 seems very unlikely however – an almost 30 fold increase in its market capitalization ($27 billion) to reach that price would actually see Cardano flip Bitcoin – slightly overtaking its marketcap ($734 billion). Prominent crypto trader @Pentosh1 did predict Bitcoin’s market cap will be flipped by another coin by the end of 2022, however that was Ethereum and the ‘flippening‘ narrative.
Cardano Price Prediction 2023
In the short-term bearish case, it could take until 2023 for Cardano to flip the $1 level back to support, as we marked out on our Cardano crypto price chart. Historically Cardano has been slow to implement fundamental updates on its roadmap, or see the benefits of them.
The Cardano community has also been the target of FUD (fear, uncertainty and doubt) on social media. Founder Charles Hoskinson once commented: ‘You don’t see this in other industries. You don’t see in physics or biology, or cellphone manufacturing, or whatever, pick an industry, the amount of tribalism, hate, and vitriol that our industry has for each other.’
Charles Hoskinson featured on the eToro blog
Investor Place has warned in a market insight a recession may also be coming, which would not bode well for the financial markets especially more ‘risk on’ assets like altcoins. In bear markets coin prices still don’t move up in response to positive news updates.
Reaccumulation?
In the most bearish case, Cardano could enter another multi-year bear market in a sideways trading range under $1, if it needs more time to accumulate before the next cycle. The advantage of that is that the longer the accumulation, the more explosive the upward move.
On our Cardano price prediction chart, we marked out the previous support level at $1, which was retested five times by monthly candles in 2021. It could take a similar period of time to flip that as support again, before going up to test the $2 level.
Closing a monthly candle above $2 would be strong signal of bullish continuation as it would only be the third monthly candle in Cardano’s price history to close there, and we’d favour bulls over the bears for a retest of the ATH by the end of 2023, if it manages to break $2 in 2023.
Cardano Price Forecast Long Term – 2025 Predictions
The next Bitcoin halving is projected to take place in March 2024, and the 2021 crypto bull run took place shortly after the 2020 Bitcoin halving. That saw Bitcoin move past its previous top of $20k to $69k, and the total crypto market cap go from $1 trillion to $3 trillion.
Assuming Cardano holds its relative value vs Bitcoin on the ADA / BTC pair – now 0.00002 – then if the Bitcoin price one day hits $500,000k as some investors predict, that would put the ADA coin price at $10.
That’s based on Cardano not underperforming or outperforming Bitcoin from this point in time onwards, only holding stable in relation to it – 0.00002 ADA / BTC is an important historical confluence level, being support in 2018, resistance in 2019 and 2020, then support again in 2021.
Cardano vs Bitcoin
ADA / BTC price chart
“Our thesis is that Bitcoin is Gold 2.0, that it will disrupt Gold as a store of value. If it does that, it has to have a market cap of $9 trillion, so we think it could price one day at $500,000 per Bitcoin.” – the Winklevoss twins, speaking to Business Insider in 2020.
Tyler and Cameron Winkelvoss, founders of Gemini exchange, became billionaires through investing in Bitcoin after – allegedly – Mark Zuckerberg stole the idea for Facebook from them at Harvard. The social media giant has since rebranded to Meta, and metaverse crypto projects have entered the markets.
Alternatively, ADA / BTC could retest its previous ATH of just under $0.0009 while Bitcoin was at just over $100k – that would also place the ADA coin price at $10. Therefore in the long term, $10 does seems achievable for Cardano.
Many decentralized finance projects continue to be built on the Cardano blockchain, and Layer-2 (L2) DeFi coins run those Cardano DeFi projects. More than 20 million tokens have been produced on Cardano, many of which are NFTs (non-fungible tokens).
Cardano has lower gas fees than Ethereum so is a growing part of the NFT market. It has at points been hailed as an ‘Ethereum killer’ that could flip ETH in marketcap one day – it would do that at a price of $10, assuming the Ethereum price remained stable.
Cardano announced a partnership with esports and gaming platform Rival to develop NFT marketplaces and platforms, giving a boost to the NFT space.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Potential Highs & Lows of Cardano
The most optimistic bullish Cardano price prediction would have it flipping ETH as some predict, and then flipping BTC if Bitcoin dominance and market share drops as DeFi, NFTs and the Metaverse take over the crypto space.
Alternatively both ETH and ADA could flip BTC. There is already a Metaverse – a virtual world – built on Cardano, called Pavia, although the project is in its early stages of development, and several of the best Metaverse coins run on Ethereum.
Cardano with a $1 trillion market cap would for example put it at a price of $30, and if Cardano overtakes the marketcap of Gold (today $13 trillion) as the Winklevoss brothers predicted for Bitcoin – that would mean an ADA coin price of approximately $400.
Cardano has had an almost $100 billion marketcap in the past, at its ATH, noted at the time by Investor’s Business Daily. A return to that historical valuation would result in an ADA coin price of $3 again. At that time it was the third largest cryptocurrency – currently that position is held by stablecoin Tether (USDT) with an $80 billion marketcap.
Can Cardano be the next Ethereum?
In the most bearish case, developments to ETH 2.0 could improve gas fees and transaction speeds of Ethereum, removing some of the use case of Cardano. Other altcoins and Layer-1 (L1) crypto projects can also compete with ADA to be an ‘Ethereum killer’, for example Solana.
Cardano vs Ethereum – a Cardano price prediction may depend on ETH’s upgrades
Also all altcoin projects can potentially be abandoned by developers. Unlike Bitcoin, whose creator Satoshi Nakamoto is a mystery, altcoins have routinely died and never recovered, when their developers moved onto other projects – e.g. Litecoin has been in a bear market versus BTC for four years since founder Charlie Lee left and famously sold his coins at around the $400 level.
Cardano is still 4000% higher than its initial trading price – some altcoins have dropped 90% and then another 90% on top of that, it’s not unheard of in crypto. That kind of price crash would put Cardano back at $0.02, although it is unlikely to happen given the range of crypto projects running on Cardano.
It would need a black swan event affecting the entire crypto markets, and even those can be temporary – after the March 2020 ‘Covid crash’ where BTC dumped to $4000, crypto rallied to new highs within months.
One point of view is that the lower a crypto asset goes, the higher it can then go – as longs are liquidated and more of the asset can be held by ‘diamond hands’ holders that buy the dip to low prices and will never sell. The pandemic crypto crash may have been the catalyst allowing it to reach new highs.
What is Cardano Used For?
Founded in 2014 by Charles Hoskinson and Jeremy Wood, Cardano is an open source, decentralized, third-generation proof-of-stake blockchain project intended to be more efficient, scalable and environmentally-friendly than proof-of-work (PoW) networks like Ethereum.
That’s a mouthful, but its basic aim and mission statement is to provide financial services – including peer-to-peer (P2P) payments using its native cryptocurrency ADA, smart contracts and Dapps – to an unbanked population of the globe, which it has termed ‘RealFi’.
Smart contracts give anyone access to banking using a public, decentralized ledger, removing middlemen, bankers and brokers like Western Union or Paypal – Paypal stocks crashed 25% in their worst-ever trading day in February 2022, losing $50 billion in valuation.
So Cardano is a central part of decentralized finance, gaining ground on traditional financial institutions and within DeFi itself. Ethereum at one point had an almost 100% dominance and market share within DeFi, which has since lowered to 70% due to Cardano, Solana and Polkadot picking up momentum.
Real-World Cardano Business Applications
In an IOHK blog Cardano announced their partnership with the Ethiopian Ministry for Education to ‘create a national attainment recording system to verify grades, monitor school performance and boost nationwide education‘.
They are also now collaborating with World Mobile in Tanzania to ‘connect the unconnected‘ and enable access to essential online services through blockchain.’
Cardano is also associated with the World Economic Forum (WEF) and involved in creating a digital ID system. That has met with some controversy – CIGIOnline.org reported on Cardano’s blockchain-based digital identity pilot involving five million Ethiopian students.
The non-profit Cardano Foundation has also announced strategic partnerships with global land restoration and tree planting verification companies (e.g.Veritree), using blockchain tech to provide immutable, transparent reports of reforestation efforts – with a lower carbon footprint than other blockchains.
Alongside climate change and sustainable development concerns, ADALend is Cardano’s decentralized lending protocol governed by DAO (decentralized autonomous organizations), another important business application of DeFi.
With decentralized crypto loans, loan approval is instant without credit checks, not over-collateralized, and the whole process is automatic and streamlined with trustless custody and lower interest rates.
What Drives the Price of Cardano?
In the short-term crypto prices can fluctuate between support and resistance levels regardless of what’s happening behind the scenes. Swing traders simply look at price action (PA), apply technical analysis (TA) and ‘trade the chart’.
Whales can also manipulate token prices to find liquidity – areas where other traders are stopped out, compelled to panic sell, or liquidated – a liquidation cascade of long positions allows them to fill large orders, then price moves up again once selling pressure is absorbed.
Long-term investors should be more concerned with fundamental analysis (FA) such as an increase in addresses on the network and total value locked (TVL) signalling greater mass adoption of a crypto project.
According to IntoTheBlock data a Cardano price prediction piece on Capital.com, 112.5 new addresses were created on the Cardano network in early 2022, an increase of 167% which generally precedes price volatility.
Finance Partnerships
CEO of the Cardano Foundation Frederik Gregaard stated in mid 2021 that the Cardano blockchain project aims to onboard as many as 50 banks and 10 Fortune 500 companies over the next years up to 2026.
Gregaard made a formal presentation uploaded on public Cardano social media channels including this Youtube video, discussing how he wanted to enable banking institutions to use its utility token.
Where to Buy Cardano
FCA, ASIC and CySEC regulated crypto platform eToro makes it possible to buy, sell and trade Cardano, and has educational material for beginners learning to trade and invest.
As a social trading platform all users have a Facebook style wall and news feed they can post their thoughts on the market too, so you can bounce Cardano price predictions off other users on the platform.
Professional investors and traders can join the popular investor program and receive payment for allowing others to copytrade them. If you’re just getting started with crypto investing you can copy the buys and sells of these pro traders – the top 50 copied traders had an annual ROI of 30.4% in 2021.
‘What is Cardano’ guide on eToro
You can also diversify your portfolio by investing in Bitcoin or using a Smart Portfolio of altcoins, part of which could be Cardano alongside other L1 protocols like ETH, SOL, or DOT.
eToro also supports Cardano staking (alongside ETH and TRX) – holders of ADA on the platform receive automatic staking rewards based on a daily snapshot of the holdings in their balance. So when you buy Cardano and secure it in their free wallet you generate a crypto passive income.
Read more on our crypto staking guide and pages on how to buy Cardano. eToro also support stocks so while there is no ‘Cardano stock price’ you can invest in crypto related stocks like Coinbase stocks ($COIN).
- Widest range of deposit methods – Paypal, debit / credit cards, e-wallets accepted
- Regulated internationally
- Over 50 cryptos listed alongside Cardano
- Educational courses – learn to trade
- Staking rewards on ADA, ETH, TRX
- Copytrade and copy portfolios
Cons
- Spread fee on altcoins high if day trading
- Some inactivity fees
- $5 withdrawal fee
- eToro keep 25% of staking rewards
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Is Cardano the Best Crypto to Buy in 2022?
Blockchain technology does not appear to be going away and Cardano has stood the test of time. First presented at Crypto 2017 an international cryptology conference, it is the first blockchain to use a provably secure, proof of stake algorithm academically peer-reviewed by leading cryptographers.
Cardano is one of the most-well established cryptos and potentially a good investment for the long-term based on their business partnerships and ADA’s real-world decentralized applications.
For investors preferring to get in early on a crypto project new in 2022, Lucky Block is a low cap coin with a similar decentralization theme, focusing on the global lottery market.
Lucky Block is a blockchain-enabled crypto-lottery platform, on the Binance Smart Chain. Its native coin is LBLOCK, currently ranked #3128 on Coinmarketcap – its market capitalization has room to grow, already making presale investors a 40x return on investment (ROI) since launching on decentralized exchange Pancakeswap on Jan 26th, 2022.
Its whitepaper lays out how LBLOCK token holders and owners of its NFTs can earn passive income in the form of partial jackpot prizepool redistributions – the larger the holdings, the higher the yield.
Lucky Block’s Telegram group grew to 41,000 members after the London, UK based company was featured in TheExpress as a potential rival to the EuroMillions and National Lottery.
To buy LBLOCK follow these steps:
- Step 1 – Set up a Crypto Wallet: Set up a BSC-compatible crypto wallet, such as MetaMask or Trust Wallet.
- Step 2 – Buy BNB: Purchase Binance Coin (BNB) from a crypto exchange such as eToro and transfer it o your crypto wallet.
- Step 3 – Connect Wallet to PancakeSwap: Visit the PancakeSwap.finance homepage, click ‘Connect Wallet’ and follow the on-screen instructions to link your wallet.
- Step 4 – Buy LBLOCK: Visit the ‘tokens’ area of PancakeSwap DEX and search for LBLOCK. On the token’s listing page, click ‘Trade’, enter the amount of BNB you’d like to exchange for LBLOCK, and then confirm your order.
Cryptoassets are a highly volatile unregulated investment product.
Cardano Price Predictions – Conclusion
Given its potential to democratize finance and realise a new world of decentralised applications, Cardano price predictions in the double and triple digits are not out of the question. Those high price targets may take time to play out however as Cardano is already a top 10 crypto by market cap.
By Coinmarketcap.com rankings, ADA is the 8th largest crypto. While writing this post the Cardano market capitalization increased $1.5 billion to reach $28.5 billion, and the Cardano (ADA) price moved up to $0.85.
Alongside Ripple (XRP) it is one of two cheap cryptos to buy under $1 in price, although the total supply and circulating supply are important metrics to understanding token prices and making Cardano price predictions – ADA has a total supply of 45 billion coins, of which 33.6 billion are currently in circulation.
Coins with high supply are harder to pump in price – the law of supply and demand. BTC has a higher price now partly due to its max supply of 21 million coins. On the other hand ADA would only need to reach $10 – $25 per coin to have a higher market share of the total crypto space than ETH and BTC respectively.
An alternative altcoin that may see price discovery sooner given its low marketcap, is Lucky Block. Recently featured on Nasdaq.com, Yahoo Finance and other media the project aims to create a worldwide decentralized crypto lottery with fairer and more transparent gaming odds for players, a ‘lottery owned by the people, for the people‘ that also provides a passive income stream for holders of its token LBLOCK.
Cryptoassets are a highly volatile unregulated investment product.
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