Cardano Price Index – Real-time ADA rate
Cardano Price Live Performance Indicators
Cardano Price Summary
One of the most impressive cryptocurrencies in recent months is Cardano. Its performance over the past year has been so impressive that it forced its way into the top ten, surpassing the likes of Litecoin, EOS and Bitcoin Cash on its way.
While Cardano’s (ADA) price is down by 48% from its all-time high as of July 2021, it is still one of the best performing cryptos so far this year. ADA reached an all-time high of $2.45 per coin on 16 May 2021, but it is now trading above $1.20.
ADA has defended the $1 support level despite the recent bearish sentiment in the market. With several developments coming to the network, investors are confident that ADA could deliver big wins over the coming months.
Cardano began the year trading at $0.18 per coin. In rising to the $2.45 level in May, ADA’s price surged by over 1,260%. Only Dogecoin outperformed it during that period amongst the top ten cryptocurrencies. ADA is now trading at $1.26 per coin at the end of July, which represents a year-to-date surge of over 600%.
As a volatile market, the prices of cryptos move up and down swiftly. While this creates a profit-making opportunity for investors, it could also result in losses for some. To avoid this, we recommend keeping up to date with Cardano’s price performance to enable you to make excellent investment decisions.
Cardano Price History
Cardano was one of the cryptocurrencies that were created during the height of the 2017 bull run. Unlike the other major cryptocurrencies such as Bitcoin and Ethereum, Cardano uses the Proof of Stake protocol, allowing token holders to participate in network decisions.
When ADA was launched in October 2017, it was trading around the $0.02 region. After that, ADA quickly rose to reach a then all-time high price of $1.18 on 4 January 2018. However, the cryptocurrency market went into a bearish cycle for the next two years, and ADA stayed below $0.10 until July 2020.
Cardano broke into the top ten in recent months, thanks to some huge developments from the project team. The team behind Cardano’s layered blockchain is working on some compelling use cases for it. In the past, the Cardano blockchain didn't support smart contracts. However, upgrades such as the Shelley upgrade led to an increase in Cardano’s decentralisation and to the introduction of a delegation and incentives scheme. The reward system drives staking pools in the network and boosts community adoption.
The price began to rally once the developers began working on upgrades that would allow decentralised applications (dApps) to operate on the Cardano blockchain. By January 2021, ADA was trading at $0.18 per coin. However, its value rose by over 1,260% to reach an all-time high of $2.45 on 16 May 2021.
The broader cryptocurrency market has been in a bearish cycle since then, with ADA now down by 48% from its all-time high as July comes to a close. ADA is still the fifth-largest cryptocurrency by market cap and one of the favourites for many investors.
Cardano Price Prediction
The volatility of cryptocurrencies is a well-documented feature, and it requires that you look at ADA’s price prediction from multiple perspectives. With prices moving up and down quickly and constantly, depending on market conditions, we recommend using risk management techniques when predicting the price of ADA and other cryptocurrencies.
A key driver of Cardano price action could be the anticipated launch of smart contracts on the network. The launch of smart contract features on the Cardano blockchain is expected to provide tough competition for Ethereum, the leading blockchain in this sector. The smart contract launch is expected to take place in the coming months, and it could positively impact ADA’s price over the next few months and years.
Once smart contracts are in place, Cardano will be able to support a wide range of dApps, decentralised finance (DeFi) platforms and decentralised exchanges (DEXs). With its Proof of Stake protocol, it offers scalability and other features that make the Cardano blockchain unique. If ADA can maintain its price above the $1 mark over the next few weeks or months, ADA could soar past its all-time high again once the smart contract feature is launched. The various developments coming to the Cardano blockchain could positively impact ADA’s price.
Expert Tip on the Price of ADA“ Although ADA was created in 2017, its price is already up by over 6,000% since it was launched. The huge returns on investment make Cardano one of the top cryptos in the world. As more retail investors enter the market, ADA’s price and the market could continue to increase. However, we still encourage you to look at ADA’s price from a technical and fundamental standpoint. Expert analysts use tools and indicators like the Fibonacci levels, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) to speculate on ADA’s price. You can also conduct fundamental analysis using news and checking the roadmap of the cryptocurrency. ”- Eleonora Di Felice
Cardano is a decentralised blockchain that was created in 2017 to enable complex programmable transfers of value in a secure and scalable fashion. It is also one of the first blockchains to be built in the highly secure Haskell programming language.
The Cardano development team is currently working on a smart contract platform that seeks to deliver more advanced features than any protocol previously developed. What makes it unique is that Cardano is the first blockchain platform to adopt a scientific philosophy and a research-driven approach.
Cardano Value Compared to Other Cryptocurrencies
Frequently Asked Questions
The developers are still working on the smart contract platform, and there is no set timeline for its release. However, there are expectations that it will be ready in the near future.
ADA is one of the top performers so far this year, with its rally giving it a spot amongst the top ten largest cryptocurrencies by market cap. In January 2021, ADA was trading at $0.18 per coin. However, ADA’s value rose by over 1,260% to reach an all-time high of $2.45 on 16 May 2021.
It is hard to know if that will happen. However, Cardano has gained a lot of attention in the cryptocurrency space, with commentators excited about what the developers are putting in place.
Yes, ADA is a volatile asset like other cryptocurrencies. As of July 2021, its price is down by nearly 50% from its all-time high, but it is still up by 600% since the start of the year.
By and large, the cryptocurrency sector experiences high levels of volatility. For the past year, however, the volatility levels have gone down significantly. Although ADA price is volatile, it is slowly stabilising as the coin continues to gain mainstream adoption.