Following the recent bullish trend in the cryptocurrency arena, we’ve been persuaded to make a Cardano price prediction for March. The prediction is based on historical price analysis, market capitalization, technical analysis, and recent developments.
Cardano (ADA) has been an outlier in the past few weeks, recording impressive gains and boosting its market capitalization to above the $40 billion mark. Actually, the altcoin has jumped by more than 400 % this year alone. Relative to its lowest price of $0.01913 on March 13, 2020, the coin has recorded a more than 6,700% gain in price, having hit an ATH of $1.4800 on February 27, 2021. ADA had a circulating supply of $31,948,309,441 and a trading volume of $8,423,525,286, at the time of writing.
Cardano Price Prediction: Analysis
At the commencement of the year 2021, Cardano was trading at $0.18. Later on, the price began surging throughout the better part of the month.
In February, ADA was very bullish, overtaking coins, such as Tether (USDT) and Binance Coin (BNB), to claim the third position in market capitalization. At the start of March, the altcoin fell behind BTC and ETH at around $160bn and $858 billion, respectively. Since trading at a high of $1.48 on February 27, ADA has been trading sideways. Price action has largely been oscillating in a horizontal range, with neither bulls nor bears taking charge.
The year 2021 had to be a good year for Cardano because the network had to deal with a major upgrade. Expectedly, at the beginning of March, the network received a “Mary” upgrade. Subsequently, Cardano, just like Ethereum, will allow for smart contracts.
The introduction of smart contracts on the Cardano network will allow for the integration of decentralized applications. Incidentally, the network upgrade comes when DeFi gains a lot of traction and enjoys phenomenal growth.
The Mary hard fork will open opportunities for businesses and developers seeking to migrate or to build on the Cardano blockchain. It will also help those who want to migrate to the network. Moreover, it will allow for the creation of tokens on the blockchain, paving the way for a decentralized crypto economy.
The fact that Cardano supports the creation of non-fungible tokens will inevitably make it a favorite crypto. Importantly, the development comes when the phenomenon of non-fungible tokens is increasingly gaining popularity.
In summary, the ADA will remain bullish, as other coins struggle because it is normal for cryptocurrencies to rally ahead and shortly after a major upgrade.
Cardano Price Prediction: Market Opinions
Walletinvestor.com, an online forecasting service, believes that ADA is very good as a long-term investment. The platform provides a 14-day analysis in which it predicts that by the mid-month, ADA will be trading on the $1.533 range.
Here is the forecast for part of the month of March:
|Date||Price||Min Price||Max Price|
Coinswitch, a global cryptocurrency exchange aggregator, believes that ADA may scale the ranking order to claim a spot among the top 10 cryptocurrencies in the world.
According to their prediction, the cryptocurrency will touch the $2 mark in 2023 and then scale to $3 by 2025. In addition, Coinswitch is optimistic that the altcoin can touch the $10 mark if everything happens as per the roadmap.
Digitalcoinprice’s Cardano price prediction is that the altcoin will close 2021 at $1.69, the year 2022 at $2.09, the year 2023 at $2.34, the year 2024 at $2.85, and year 2025 at $3.37. In their forecast to the year 2028, the altcoin will reach $5.06. In March, Digitalcoinprice believes that the coin will settle at $1.52.
According to tradingbeasts.com, the price of Cardano is expected to reach, at the commencement of April, a maximum price of $1.75761 and a minimum of $1.19518. At the end of the month, the price will settle at $1.40609. The average price by December will be $1.48845. By the end of 2022, the price will be $1.26118, which will scale to $1.53135 by the end of 2023, and 1.79610 by the end of 2024.
In light of the technical analysis and developments within the DeFi space, Cardano will be bullish for the better part of 2021. Our Cardano price prediction is that the altcoin will experience incremental growth throughout the years because it is a third-generation blockchain technology that solves the issue of scalability and interoperability.
Above all, Cardano’s smart contracts will make it a good substitute for Ethereum, making it an alternative for the second-largest cryptocurrency. With the prevailing fundamentals and market sentiment, we expect Cardano to be the most sought-after coin in 2021 and beyond. What’s more, it is relatively cheap compared to BTC, luring many people to buy it.
Analysts affirm Cardano will outperform Bitcoin and Ethereum given ADA’s enhanced scalability
- Binance coin replaced Cardano as the third-largest cryptocurrency.
- Over 70% of ADA supply remains staked.
- With institutional investment flows to Cardano, proponents expect ADA market capitalization to recover.
- Cryptocurrency analysts expect Cardano to outperform Bitcoin and Ethereum based on ADA price trends.
Charles Hoskinson, Cardano founder, made an effort to dampen Cardano’s negativity and uncertainty and the cryptocurrency ecosystem. Hoskinson broadcasted from South Africa and shared potential opportunities for the Cardano Foundation.
Analysts expect Cardano to outperform Bitcoin with updates in the ecosystem
In his recent broadcast from Africa, Charles Hoskinson shared how the rising uncertainty in cryptocurrencies puzzled him. Hoskinson believes that Cardano has met every single milestone on its roadmap.
The Cardano network has never suffered an outage, and the founder reassures users about ADA’s current plans. Cardano is focused on enhancing scalability.
The Plutus Application Backend (PAB) launch is set to ensure scalability on the network. It is scheduled for later this month. Once Cardano improves scalability, more users are expected to join the network.
Cardano is working on another exciting development in the roadmap, layer-2 scaling solution Hydra. Alongside Plutus, Mamba Pool, Atala Prism and Mithral, Hydra’s development is underway.
Fourteen teams are working on different elements within the Cardano ecosystem. Hydra is expected to process transactions on the Cardano network in an efficient manner. Since most transactions will be processed off-chain, Hydra will use the Cardano blockchain to secure settlement.
The Hydra protocol is currently under extensive testing.
Despite the upcoming updates in the Cardano ecosystem, ADA’s market capitalization dropped, and the altcoin no longer ranks among the top three cryptocurrencies. The percentage of ADA tokens staked remains stable above 70%; analysts are bullish on the altcoin as supply under circulation remains relatively low.
There is a spike in institutional investment in ADA. Over $3 million capital flowed to ADA-based funds in the past week, according to a Coinshares report.
Austin Hilton, a cryptocurrency analyst and YouTuber, has set a $15 target for ADA price. Hilton states,
Cardano could hit $15 by the end of this bull run that we are all looking at. It’s set to end in kind of February-March time frame.
FXStreet analysts have evaluated the ADA price trend and predicted that the altcoin’s price is bound for profit-taking. Analysts set a target of $1.70 for the altcoin.
Cardano’s Project Catalyst Fund6 Concludes Voting Campaign
Cardano’s largest community initiative is going to finish voting for its sixth iteration
Only a few hours remain for Cardano (ADA) enthusiasts to take part in the largest community vote, i.e., a referendum designed to indicate the winners of Project Catalyst.
711 applicants, $4 million in ADA at stake
According to the “last call” announcement by Input Output Hong Kong, the development studio behind Cardano (ADA), its Project Catalyst Fund6 is ready to enter a crucial stage.
#ProjectCatalyst Fund6 voting is open until October 21, make sure to place your vote before @ 11:00 UTC! 🗓️
In this round, 711 proposals made it to the ballot & looking to share funding of over $4M in $ADA! 🤩
See how you can contribute & vote👇 https://t.co/dvytdN9nD7— Input Output (@InputOutputHK) October 20, 2021
The voting campaign that allows ADA holders to choose the winners of Project Catalyst will be closed on Oct. 21, 2021, at 10:00 a.m. UTC.
IOHK representatives shared that 711 products submitted their proposals to Project Catalyst voting portal. As covered by U.Today previously, 267 projects took part in the previous iteration of Project Catalyst.
In Fund5, the net amount of rewards was set at $2,000,000 in ADA tokens.
Largest community-driven campaign in crypto
Project Catalyst is a unique multi-phase incubator for all early-stage products interested in building on Cardano’s (ADA) smart contracts.
Launched stealthily in August 2020, it garnered excitement across Cardano-focused dApps developers. The winners of Project Catalyst receive financial, consulting and promotional support.
Project Catalyst Fund6 is a special one as it is the first campaign launched with smart contracts live in Cardano’s (ADA) mainnet.
As such, the winners of this stage will be able to experiment with “real” Cardano smart contracts.
Charles Hoskinson and Cardano (ADA) In The Business of Protecting
The community keeps responding with a mix of optimism and toxicity to the recent Charles Hoskinson Update. However, it is very obvious that Charles is very clear about the destiny of the project. Negativity never burns Charles. He has already outgrown it.
Community response: I don’t trust Charles or Cardano to deliver on quality. Guys cares more about academic prestige than actually delivering on the DeFi ecosystem or providing a functional network. All hype, which will forever be catching up to expectations.
So when your house is on fire, you’d rather have police officers show up to put out the flames. Got it. They’re obviously in the business of protecting, but they don’t quite have the right tools for the job. Building things right the first time takes time.
Building things right does take time. Building things for the right reasons is exactly why Buterin kicked Charles out of Ethereum’s non-profit vision. You’re right, but observe how Charles (the person) spends his money on vanity projects for Carnegie Mellon.
Who cares what Charles (the person) spends his money on? He is not Cardano, and Cardano is not him! WE are Cardano as a unity, and damn we’re strong.
Charles, say something, let’s pump, we’re tired.
If you’re looking for something to pump and dump there are thousands of erc20 tokens to do so with. Leave Cardano alone and let it organically grow. That way it’s not all over the place because it’s inflated due to hype. A good currency stays the same price.
ADA is dying for those who are impatient. Weak hands don’t deserve to be in the Cardano Ecosystem. People are accumulating every day.
I own ADA and am a HODLER. But do you think that ADA’s price suppression is due to your openness and transparency of Cardano? It might give the impression that your tipping your hand to the competitors instead of just promoting open source and decentralization of ADA?
Guys, if you don’t like the ADA price ATM, you’re free to sell and leave. Just know that you’re going to regret it.
Charles your intentions may be great, but here’s the thing – in the crypto world decades happen in weeks (and you know this), what you’re trying to achieve is already in use by projects with much less market cap (FTM for ex), DOT’s all set for auctions and when eth 2.0 is out.
Charles I would like to congratulate you on how far you have taken us, but I would like to point out that the Cardano tree project is dumping our ADA donations back into the market. It would be nice if our donations are burnt. as we never intend to sell.