Going by the recent bullish trend in the crypto space, here is Cardano price prediction for April 2021. Historical price analysis, technical analysis, market capitalization, and recent developments of this cryptocurrency are the main factors that an investor needs to consider.
Currently, Cardano has a market cap of $39,203,119,523 and a circulating supply of 31,948,309,441 ADA coins. Over the last 24 hours, up to $2,550,500,443 worth of ADA exchanged hands. Cardano has a maximum supply of 45 billion coins and a fully diluted market cap of $55,317,916,318, which is an increase of 1.45%. It is currently the fifth-largest cryptocurrency by market size.
Cardano Price Prediction: Analysis
Since its launch in 2017, Cardano (ADA) has never been a stranger to growth. At the end of February, ADA price hit a fresh all-time high, after it gained 720% since the beginning of the year following the crypto market rally across the board.
In February, ADA, which is the cryptocurrency behind the Cardano blockchain, surpassed other coins, such as Tether (USDT) and Binance Coin (BNB), to claim the third slot in terms of market capitalization, coming only after Bitcoin and Ethereum.
At the beginning of 2021, Cardano price was $0.18. Afterwards, the price surged for the better part of the month. Since its all-time high of $1.48 on February 27, Cardano price has been unstable, moving in a horizontal range but without the bulls or the bears taking control.
This Cardano price prediction looks at ADA’s recent performance as well as its recent developments.
Since the beginning of 2021, the major development witnessed on the Cardano network is the “Mary” upgrade, which took place at the beginning of March. This update turned Cardano blockchain into a multi-asset protocol, which allows users to create native custom tokens on the network.
The newly created tokens will run together with the ADA cryptocurrency on the same network. Thanks to the upgrade, the Daedalus wallet, which is the network’s wallet for ADA coins, can now send or receive Cardano native tokens. Moreover, Cardano now follows in the footsteps of Ethereum, which allows smart contracts on its network.
With smart contracts on the Cardano network, more developers are likely to be interested in the network to create decentralized applications. This is a plus for the Cardano network at a time when Decentralized Finance (DeFi) is gaining traction.
In the end, this will lead to a decentralized crypto economy. More activity on the network will even influence the Cardano price prediction in the coming months. Additionally, since Cardano supports the development of non-fungible tokens, this makes it a favorite crypto.
With these developments in mind, we expect the ADA coin to remain stable or bullish, as other coins struggle. Going by history, cryptocurrencies usually rally ahead shortly after a major upgrade.
Cardano Price Prediction: Market Opinions
In order to get a better idea of how the price of this cryptocurrency will behave in the future, we will analyze the opinions of the most reputable websites.
Walletinvestor is an online crypto forecasting service. Regarding Cardano price prediction in the next few days or weeks, it believes ADA can make a nice long-term investment. The platform predicts that by April 8, 2021, the ADA coin will be trading at slightly above $1.15.
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Similarly, CoinSwitch, a globally recognized crypto exchange aggregator, foresees that ADA coin may rank higher to be among the top 10 cryptocurrencies by market size. According to them, ADA may hit $2 in 2022 and $3 by 2025.
Digitalcoinprice forecasts that ADA will close the year at $1.71. They also predict that ADA will close April at $1.93. Whichever the case, Cardano (ADA) price is currently under the influence of the bullish trend.
Tradingbeasts predicts ADA price to hit $1.343 at the beginning of April. The coin is expected to reach a maximum of $1.690 and a minimum of $1.149. Towards the end of April, ADA will be trading at $1.352, according to Tradingbeasts.
Cardano Price Prediction: Verdict
Considering the technical analysis and the developments within the DeFi space, we expect Cardano to remain bullish for the better part of 2021. With its ability to solve issues of scalability and interoperability, our Cardano price prediction is that the coin will experience incremental growth over the years.
Overall, Cardano’s smart contracts will make it an alternative for Ethereum – the second-largest cryptocurrency. Besides, ADA is cheap compared to Bitcoin, which attracts many users to it.
Featured image: coinjournal.net
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