Cardano price 2020
The current price of Cardano (ADA) fluctuates around $0,002060; the total market capitalization is $876,412,096, which makes ADA one of the Top-15 most popular digital currencies as of December 2019. The circulating supply is 25,927,070,538 ADA. The daily trading volume is around $24,528,628.
The all-time high of Cardano, $1.33, was reached in January 2018. The estimated ROI (return on investment) of ADA is 55.96%, which means that $100 worth of ADA bought at the time of the Cardano launch would yield $55.96 today.
Notably, Cardano exhibited exceptional stability when the whole crypto-market dropped after December 2017. In March 2019, when BTC and all significant cryptocurrencies dropped in price, Cardano was rising. In fact, in 2019, ADA was actually approaching its all-time high value from January 2018. This coin is noticeably less susceptible to market movements. This is one of the reasons why Cardano may be considered a relatively safe long-term investment vehicle.
In May 2019, Cardano was showing a bullish trend against USD and was trading at $0.0658. The reason for that growth was the release of Cardano Shelley, a feature that renders Cardano fully decentralized. Given the project’s ambitious roadmap and a dedicated team of developers, one may expect constant attention to the coin and a lot of potential for the increase in price, accordingly. The project needs to maintain community enthusiasm in order to thrive.
Ultimately, these are some critical facts that may affect the price of ADA in the near future:
- Almost 95% of ADA holders reside in Japan;
- Cardano has a knowledgeable founder and the team of developers with an ambitious and dynamic roadmap;
- Although Cardano was not the first to enter the market, it offers a solution for some of the significant problems experienced by its bigger competitors: scalability (Ethereum) and governance (EOS).
The forecasts for Cardano (ADA) price are mostly positive, due to innovative technology at its foundation. If all the development goals are met within five years, a single ADA might reach a $5 mark. Check the full price prediction for 2020-2025 here.
What is Cardano (ADA)?
Cardano (ADA) is a third-generation cryptocurrency and a platform for smart contracts that emerged in an attempt to improve on the shortcomings of both Bitcoin and Ethereum. ADA is the native currency of the platform. It is also the first-ever peer-reviewed blockchain: a group of academics from the best universities (e.g., Tokyo Institute of Technology and University of Edinburgh) reviewed Cardano protocols before its release. The comprehensive scientific approach has been at the foundation of Cardano since its conception.
Cardano was launched by Ethereum co-founder Charles Hoskinson in 2015 to “provide a more balanced and sustainable ecosystem” for digital currencies. The ultimate goal of Cardano is to create a secure, scalable, and interoperable ledger for multiple assets and a platform for secure smart contracts. The network makes use of a unique Proof-of-Stake consensus mechanism called Ouroboros, which positions itself as the “first provably secure proof-of-stake algorithm.”
The first steps towards the development of Cardano were made in 2015. The presale of ADA tokens occurred in Asia, mainly Japan, from September 2015 to January 2017, and raised $62 million. A total of 26 billion tokens were sold for $0.0024 each. Public trading of ADA began on October 1, 2017. A hard cap of 45 billion ADA tokens was established, 13.88 billion of which would be issued through staking rewards.
The organizations responsible for Cardano’s development are IOHK (Input Output Hong Kong), which was created and contracted to build, support, and maintain Cardano until 2020; The Cardano Foundation, which promotes the adoption of the protocol while providing legal support, and Emurgo, an investment arm. The Cardano Foundationexperienced a change in structure in December 2018. After several months of tension between Cardano and supporting foundations, the now-former CEO Michael Parsons had to leave.
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