Cardano coin price has gained almost 2% in the last 24 hours. Bitcoin and Ethereum also saw a slight rise in the past seven days. These developments could also skip ahead to ADA in the long term, causing the price to jump 20% soon.
ADA Course: This is the current situation
Cardano (ADA) is one of the most famous altcoins. The cryptocurrency currently ranks eighth with a market capitalization of over $14 billion. However, the last three months have not been easy for the Cardano Coin. In mid-August, the price was still at USD 0.56. After strong fluctuations, it reached a value of USD 0.44 at the end of September.
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Since then, the value of the coin has fluctuated between $0.44 and $0.40. The price of Cardano token is 0.43 USD. The 24-hour trading volume is USD 434 million.
As with all other cryptocurrencies, the reason for the downward movements in the past is the high inflation, which has been increasing harmlessly since the spring of this year. Investors responded with uncertainties and large sales. As a result, the whole market collapsed.
That’s why the price of Cardano could rise again: bullish performance with altcoins
But since last week, crypto prices seem to have stabilized again. The reason for this is the positive developments of bitcoin. Despite the rising USD index, the value of BTC is also rising again. For a few days it is moving towards the USD 20,000 mark again.
The positive developments of the initial coins may lead to a little more security and buying among investors. In the past, BTC has regularly been shown to represent a large portion of the overall market.
Even if the performance of Cardano coin is not outstanding at the moment, it may rise again. First of all, investors should remember that the project is back on schedule according to the roadmap. The project is in the fourth phase of a total of five phases. The devs are currently working on the scalability of the blockchain. Their goal is still to make their token the highest scalability cryptocurrency has ever had.
The range of products provided should also not be overlooked. This is well filled and should provide a lot for future token holders and app teams. Already at the upcoming Cardano Summit in November, new
applications will be announced.
Cardano current forecasts
The ADA course has already shown a very good performance in the past, the developers are constantly working on the Cardano network and still have some applications ready for the future. These factors speak for a positive development of the price of Cardano.
Analysts at Coincierge.de assume that the signal will come back again this year due to the symptoms mentioned. Accordingly, the value of USD 1 could be reached by the end of this year. The base is 22% away from that today. Compared to the cryptocurrency’s past performance, the transition seems feasible.
If the price turns bullish in the near future and reaches the USD 1 mark, Cardano will be good in the more distant future as well. In 2025, the price of a coin could rise up to USD 44 in an ideal course.
What is Cardano?
Cardano’s proof-of-stake blockchain is based on verifiable smart contract development. The holder of an ADA token not only has access to the network. Token holders can also participate in decisions related to software changes.
The developers are trying to achieve high goals in terms of maintainability, scalability and interoperability. The platform should soon be the first choice for people looking for a transparent, fast and sustainable way to use cryptocurrencies. The cryptocurrency was founded in 2017.
Conclusion: can the price of ADA explode?
Even if the price of Cardano has fallen a bit in the last few weeks and it has also fallen in the ranking, the forecasts for the coin are overall good. Don’t forget: Cardano has long been one of the most popular cryptocurrencies.
Ideally, there will be positive developments in the next two weeks. If it took advantage of the increase in the overall market, it could soon move back towards 1 USD. Therefore it would once again offer more stability to its current and future token holders.
Investors investing in cryptocurrency should also keep a constant eye on the overall market. Because the past has shown that positive and negative developments can happen within a very short period of time. This link to ADA remains.
Furthermore, an investment amount should only be chosen so high that a total loss could be handled. Before investing, the price of the selected coin should be kept in mind for several weeks.
Instructions: How to buy Cardano on eToro.de
With this step-by-step guide, you can complete the purchase of your Cardano tokens in minutes.
Step 1: Registration
Visit eToro.de and create an account. It’s free to open an account. This requires, among other things, your date of birth, name and address.
Step 2: Verification
After registration, your details will be verified. This is done in a separate window and only takes a few minutes.
Step 3: Deposit
Your user account is now activated and you can use the exchange. Deposit money with your first purchase. EToro offers many payment options such as bank transfer, Visa or Apple Pay.
Step 4: Select ADA and buy Cardano
Now search for Cardano and select the token to buy. In the trading window you can indicate how many coins you want to buy. Confirm your selection and complete the purchase. If you want, you can send the ADA tokens to a special Cardano wallet.