Cardano Prediction: How Will ADA Coin Launch in 2023?

The price of the Cardano coin, like most cryptocurrency, is in an unstable state, to say the least. The overall market is still suffering from past price falls. However, according to analysts, ADA may currently be significantly undervalued. So how could things continue for him in 2023?

ADA is chasing higher prices

After the bankruptcy of the FTX exchange, the price of ADA dropped significantly. He lost over 40% in the process. To this day, the price keeps falling. In the last 24 hours, it lost another 1.10%. It is currently valued at USD 0.24 so it is far from its high for the year USD 1.60.

So the ADA base is not performing very well at the moment. However, experts assume that this could change rapidly in the future. Sentiment analysts focus their forecasts on social metrics and chain analysis.

You are seeing some signs that ADA coin sales are about to stop. They describe it in a Twitter post. They describe observing strong phase/reversal signals.

📊 Yes #Cardano undervalued at this point? one of @santimentfeedData that makes this case, such as sharks & whales (which have between 100K and 10M) are certainly seen by key members of the community $ADA) accumulating aggressively the last 6 weeks. Read the latest insight! https://t.co/TPskmWBsOH pic.twitter.com/HC0aEWIVns

— Santiment (@santimentfeed) December 27, 2022

Analysts see an opportunity for Cardano at the turn of the year

They assume that a slow recovery in the crypto market will allow the Cardano coin to recover quickly. The beginning of 2023 could be that moment for the cryptocurrency.

The published analysis shows that analysts focus on several indicators. As a result, they cannot predict when that point in time will occur and how high the price may rise. As of this writing, the price is still moving significantly down.

Trading volume fell another 9 percentage points in the last 24 hours. The market capitalization is also falling. Cardano ranks 9th with a market cap of $8.2 billion.

However, the reports also show some positive factors in favor of the continued existence of the cryptocurrency. Some metrics focus on the activity of the total number of commits in the GitHub repository. Thus the activity of the developers or their work is measured. Based on these numbers, Sentiment believes that Cardano is still one of the most important cryptocurrencies on the market.

Cryptoticker also sees a positive future for the Cardano Coin. Here, the analysts also accept that the cryptocurrency is currently greatly undervalued.

The main reason for the unstable market is due to frequent rate hikes and high inflation. If this economic situation eases in the new year, the entire crypto industry, including Cardano, could heave a sigh of relief.

Cardano is known for emphasizing security. In their work, they want to deliver the best possible results to their users. This is also highlighted in the founder’s recent announcement.

Cardano’s CEO plans an expensive security audit experiment

Cardano developer Charles Hoskinson has been working on his own Cardano cryptowallet for some time. The Lace wallet aims to connect the Web2 to the Web3 layer through a simple connection.

Regarding the recent hacker attack on the LastPass program, Hoskinson was critical of the security measures used. In the incident, hackers gained access to cloud-based personal data such as billing addresses, phone numbers, names and AP addresses.

Hoskinson says in a video, “It’s a shame that Pretty Good Privacy (PGP), an encryption program, isn’t a standard.”

For his specially designed lace wallet, he wants to perform a security check that has never been done before:

“When Lace Wallet starts supporting PGP encryption on paper wallets, I will take ADA tokens – probably worth a million dollars – and put them in a PGP encrypted paper wallet and post it publicly on my Twitter for you to decrypt.” . I am very confident in these standards. Master passwords, even if they are long enough, are simply a dead standard and should no longer be used.”

There are certainly other traders dealing with the topic of security at the moment. The drop in November, triggered by the FTX exchange, resulted in high losses. Since then, many traders are looking for applications that can protect them from such.

Security and transparency: On the Dash 2 Trade platform

The Dash 2 Trading platform could end this search in just a few weeks. The developers aim to provide users with a website where they can streamline their trading and make it safer.

Many analytics and metrics create a clear dashboard for traders, which they can use to quickly evaluate cryptocurrencies. It aims to prevent losses, increase returns and simplify trading.

In terms of security, the auto trading bot will play a big role. Users can change it to sell a certain number of tokens once the price reaches a specified price target.

Traders who focus on pre-sales can get another big advantage. Dash 2 Trade also focuses on ongoing and upcoming pre-sales. Traders will receive in-depth information about the new cryptocurrencies and should have access, among other things, to a clear evaluation portal.

Analysts evaluate new coins based on staff, funding, presale and token distribution. Depending on the selected access, the traders are informed about new information or upcoming dates via notification.

The pre-sale ends in a few days. To date, $11.5 million worth of coins have been sold. The website has seen a significant increase in demand over the past few weeks. The reason for this is the need for security that arose after the FTX crisis. That’s what the developers want to offer the traders.

D2T token has already received listings on three major exchanges. Trading can start on January 11. If the presale reaches the funding goal of USD 13.5 million within the next few days, it could end prematurely.

However, the panel should offer the opportunity to evaluate existing coins using different metrics. In the future, traders could make their own forecast for the token Cardano and other cryptocurrencies.

Photo by Michael Fortsch