Cardano ($ADA), the eighth largest currency, is expected to skyrocket to $2.93 by 2025 and $6.53 by 2030, as predicted by Finder’s panel of fintech specialists. They also hope the coin will be worth $0.63 by the end of 2022.
The panel had predicted that ADA would end 2022 at $2.79. But, that prediction has now changed as a result of the market crash, and the coin is now more likely to be worth that amount by the end of 2025.
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Their projections for its value over the following ten years have likewise fallen sharply. Compared to the forecast of $58.04 made back in January 2022, the current projection of $6.54 for 2030 is significantly more cautious.
Finder conducts quarterly surveys, asking their fintech experts for the price projection of cryptocurrencies. Fifty-three industry experts were requested to participate in the study conducted in July 2022 and provide forecasts for the price of Cardano from now until 2030.
The University of East London’s Dr. Iwa Salami, co-director of the Centre for FinTech, predicts a price of $0.60 by the end of 2022. He believes that the Cardano blockchain’s value is crucial, likely to increase its long-term use, and will consequently have a favorable effect on the price of ADA. According to him, it is because it aims to promote financial inclusion in developing economies.
While regarding the future utility of ADA, Charles Silver, executive chairman of Permission.io, is doubtful. Given that he doesn’t see a use case for Cardano and predicts its eventual demise, he estimates its value to be $0.20.
Previous Downfalls In Cardano (ADA)
On September 2, 2021, ADA’s price rose to its all-time high of $3.10. ADA started trading on January 18, 2022, at $1.36 and eventually rose to $1.63. But as the Russia-Ukraine crisis began, investors might have started liquidating their holdings, and on February 24, it fell to $0.7528.
Late in March, the price bounced back to the $1.24 level, but it could not continue its upward trajectory, dropping back to $0.7424 by the end of April.
Additionally, on May 12, the collapse of the Terra UST and LUNA currency prompted ADA to fall to an intraday low of $0.4065 on the cryptocurrency markets. As crypto prices went up, ADA bounced back to $0.6823 before falling down to trade in the $0.55-0.60 range at the beginning of June.
However, it has been fluctuating between $0.40 and $0.49 since the end of June. The market situation for ADA at this time is not significantly improving.
According to CoinGecko statistics, ADA is currently trading at $0.4405, which is almost 85% low than its all-time high price. Moreover, it is trading in red, and its seven-day loss is 7.7%. Even its 24 trading volume is also in loss with 21.70% by nomics data.
Featured image from Flickr, chart from Tradingview.com