Skip to main content

When can the Cardano course rise again? – An optimistic prediction

 


What is Cardano?

Cardano is a blockchain network that is characterized by an extremely good technical balance. The Cardano blockchain combines good scalability, decentralization and excellent security. The blockchain uses the efficient Proof-of-Stake consensus mechanism. Cardano's network token is the ADA.


Cardano

Cardano has continued to develop over the past few years. The team behind the blockchain uses a scientific approach to further develop the blockchain in the long term. Thanks to the evidence-based approach, Cardano can analyze the errors of other blockchains and optimize them in its own blockchain.


How has the Cardano price moved in the last few months?

In the last few months, the Cardano price has seen a sharp drop. But this was mainly due to the bear market that started in November and caused the majority of cryptocurrencies to fall. But the Cardano price has been falling since September 2021 as other coins like Solana and Avalanche received more hype as competitors.

In the months following November, the Cardano price experienced a massive drop. In September, the ADA token hit an all-time high of over $3. By the turn of the year, the Cardano rate had fallen to $1.37. The following year, 2022, we then saw further losses into June before the price stabilized.


Why did the Cardano price fall so much?

Between September and November 2021, the crypto market was still in a bull market. ADA just reached its all-time high as a result of the last major update Goguen. The final smart contract functions were introduced on the blockchain. But then the ADA price fell again. That was mainly because competitors like Solana and Avalanche were experiencing hype.


After November, the bull market in particular caused problems for the Cardano course. As an alt-coin, the ADA token lost even more in percentage terms than Bitcoin, for example. Like most other cryptocurrencies, Cardano lost more than 80% of the value of its all-time high during the months of the bear market.


When can the Cardano price explode again?

We saw the last major Cardano price explosion when two events converged:


In 2021 we saw the end of a bull market. As a result, cryptocurrency prices rose massively in the second half of 2021. This also applied to the ADA token.

The introduction of smart contract functions as part of the Goguen update triggered massive hype in autumn 2021.

The combination of these two factors pushed the ADA price above $3 at the time.


Cardano

A further price explosion would require a combination of a good market situation and important further developments on the blockchain. Cardano is currently working on increasing the scalability of the network. In the basho development phase, this should be massively increased. Cardano could soon become the fastest blockchain on the market with up to 100,000 transactions per second. 


Is an investment in the ADA token worthwhile?

The Cardano price could rise by the end of the year due to a good market situation and the first further developments in scalability. However, a massive price increase should primarily take place in the next bull market, which will very likely not start until 2024.


Nevertheless, you should start investing regularly in Cardano’s ADA token as soon as possible if you believe in the project. This is how you can take advantage of the currently low prices in the bear market.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...
Post a Comment
Read more

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...
Post a Comment
Read more