Cardano (ADA) is focused on providing a secure and scalable platform for the development and execution of smart contracts and decentralized applications (dApps). It has a number of features that may make it attractive to investors and developers.
Cardano reached its peak in the bull market of 2021, recording an all time high of $3.10. With a market capitalization of $9 billion, ADA is currently trading at $0.2667.
Cardano has experienced a hard time gaining momentum for quite some time. ADA’s prices have declined by 14.77% in the last 7 days and by 17.47% in the last one month.
Cardano prices have slumped by 27.44% in the past two months, by 44.22% in the last three months, and by 80.63% year-to-date (YTD). There is undoubtedly a downward trend in the price of ADA, owing to several market factors. But it also means this could be a great time to invest, as Cardano is in a dip right now.
Cardano (ADA) Price Prediction
According to Cryptonewsz.com‘s price prediction, ADA can reach the $1 mark as early as 2023. On the conservative side of the spectrum, cryptoprediction.com predicts that ADA will reach $0.8 by 2026.
Also Read: Here’s How Much Your $100 Investment in Ripple Will Be Worth If XRP Reaches $1
How Much Money You Would Make if ADA Reaches $1?
Let’s assume that ADA hits $1 in the coming years. This assumption is not misplaced, as Cardano has breached this barrier several times before and has traded above the $1 mark for most of 2021. It is very likely that ADA will breach $1 barrier in the next bull run.
So, the question is how much money you would make if you invested X amount in ADA today. Let’s say you invest a modest $100 today.
At the current price of $0.2667, you will have 374.95 ADA coins. And if you liquidate these coins when ADA hits $1, your $100 will become $374.95, a 3.7x return on investment.
Likewise, if you buy $1000 worth of ADA, you will have 3749.5 coins. In this case, you will make $3749.5 on your $1000 investment, a 274.95% ROI.
It is important for anyone considering investing in Cardano or any other cryptocurrency to carefully research the asset and understand the risks involved before making any investment decisions.
Disclaimer: This is not investment advice.
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