Cardano has had a very difficult time in 2022 so far. This is mainly due to the strong weakness of the overall market. But Cardano has extremely high potential and could make a massive gain in value in the future. In this article, we explain the potential of the Cardano price future and tell you what elements could make Cardano one of the most important cryptocurrencies in the future.
What is Cardano?
Cardano is one of the 10 most important and valuable cryptocurrencies at the moment. The blockchain network was founded in 2017 by Ethereum co-founder Charles Hoskinson. Cardano differs from other blockchains in that the project uses scientific methods to continuously develop the blockchain.
The blockchain uses the efficient Proof-of-Stake consensus mechanism and combines decentralization, scalability, and security. Cardano’s network token is the ADA. Due to its scientific approach, the project is very long-term oriented and can create a technically excellent functioning blockchain in the long term.
How did the ADA token price move recently?
Cardano’s ADA token has experienced a sharp drop in price over the past few weeks and months. The ADA still saw its all-time high in September 2021 and rose over a whopping 3 dollars. Since then we have seen a sharp drop. That was first due to the rise of other cryptocurrencies like Solana and Avalanche. In 2022, however, it was above all the weak overall market that forced Cardano (ADA) to lose price.
In May 2022, the ADA price fell below $0.50. Cardano experienced one of the strongest crashes among the most popular cryptocurrencies. The price lost more than 80% from the all-time high. However, ADA continues to rank among the top 10 most valuable cryptocurrencies by market cap.
Why does Cardano have so much potential in the long term?
As a cryptocurrency, Cardano is designed less for short-term success and more for sustainability. But that doesn’t mean that the cryptocurrency hasn’t experienced hype in the past. In the bull markets of late 2017 and late 2021, we saw massive price increases that enabled investors to make big profits.
However, Cardano was mostly characterized by the fact that even in bear markets, Cardano either stayed in the top 10 most valuable cryptocurrencies or was close to them. This shows the long-term potential of Cardano. Because the cryptocurrency impresses with its consistency over several years .
What is the potential of Cardano?
The consistency of Cardano is due to the fact that the cryptocurrency is being further developed in the long term and sustainably according to scientific standards. Cardano has a clear roadmap, which we took a closer look at in this article. Due to the clear development plan, the blockchain is constantly being further developed.
The Cardano blockchain is the most technically mature blockchain on the market. The developers analyze the weaknesses of other blockchains according to evidence-based standards and improve them on Cardano. At the moment, the potential of Cardano is to be optimized by massively increasing scalability. This occurs in phase 4 called Basho.
What price can Cardano reach?
The 3 dollars from September show that Cardano still has enormous growth potential. Many experts see the potential of Cardano as extremely high. Cryptocurrency fans anticipate that Cardano could take Ethereum’s place behind Bitcoin. This is another reason why Cardano is often called the “Ethereum killer”.
Due to the technical excellence and the sustainable approach, the long-term potential of Cardano could still be extremely high in price. Optimists even see a price of $100 for an ADA in a few years. In any case, the token is probably extremely undervalued compared to the potential of Cardano.