With popular cryptocurrencies like bitcoin and Ethereum becoming a bit too expensive for many folks to be able to purchase in bulk, some altcoin investors have begun to seek out affordable alternatives.
One such alternative is ADA, a blockchain-based cryptocurrency that runs off of the Cardano platform, and at press time trades at around 29 cents per token. It is currently the 7th most valuable cryptocurrency in terms of market share.
One of the main features that sets the platform apart from others in the industry is its use of soft forks. In a nutshell, soft forks are backward-compatible updates that users can decide for themselves whether they want to implement. They are faster to implement than traditional hard forks, and their optional nature could potentially help minimize conflicts within the Cardano community.
Japanese investors hold a significant percentage of the total number of ADA in circulation, and there are plans to distribute several ATMs throughout the country in 2018. So it’s fair to say, much like the hit Alphaville song , ADA is “big in Japan.”
Now that we’ve briefly covered what ADA is and where it’s at, it’s time to discuss where it might be headed in 2018 and beyond. Below are 3 Cardano Price Predictions!
Note: “This article is not intended to be investment advice. Readers are strongly encouraged to do their own research before investing in any cryptocurrency.”
In an CryptoNews article published last December, Author Pedro Bernado predicted that ADA tokens could be worth between $1-$1.50 as early as July of 2018.
He believes that Cardano’s plans to place ADA ATMs in Japan — a world leader in blockchain tech, and a nation where around 84% of the population is familiar with bitcoin — is a major plus for the relatively new token.
In his own words,
“By their (Cardano’s) innovative view of a Blockchain Structure, we can have this system of ATM’s through a decentralized layered platform that allows diverse levels of access to each hardware or software through the concept of selection of roles in maintaining the network. This is a very effective way to have a trustable hardware.”
Bernado also points to another positive going forward, as the company announced that in,
“the second quarter of 2018 they intend to give it a real push towards and truly autonomous network. They intend to implement multi-signature transfers and further delegation throughout the network”
Smartereum author Adam Web can be added to the list of folks who believe that the future is bright for ADA.
In an article published on March 2, 2018, he claimed that the one-year forecast for an ADA token is around $2.50, with the potential for it to reach roughly $10 in 5 years time.
Web lists the strength of the team behind the platform, as well as the ease of use behind the technology they are developing, among his reasons for enthusiasm.
A blogger who simply goes by the name Martin has some interesting predictions for Cardano in the coming years. In a February post on the crypto site Us Lifted (which one could argue reads a bit more like an advertisement as opposed to news article) he makes some bold predictions.
While the reasoning behind his forecasts are muddled at times, they appear to be based on the improvements Cardano will be making in the “Shelley” stage, during the 2nd quarter of 2018. Martin mentions things like an Open Ouroboros delegation, MultiSig translations, and consensus and inactive fees, among the list of things to be rolled out during Q2, as the items that factor into his rather bullish predictions.
He believes that the value of the ADA token could be sitting at $6.90 by year’s end and possibly be worth as much as $72.30 by the time 2019 come to a close. Martin goes even further in his piece, by predicting a price point of $410.45 for a single ADA by the year 2020, in a forecast which could only be described as optimistic.
What are your Cardano (ADA) price predictions for the coming years? Let us know on Facebook or Twitter!
If you’d like to learn more about Cardano, check out our video rundown of the project! To read up more on cryptocurrency, check out our WTF is Crypto Guide. For more awesome articles by Jacques Martin, check ’em out here!