Despite the bad start of the year, a group of financial experts believe that Cardano (ADA), the seventh-largest cryptocurrency by market capitalization, could see a massive recovery in the coming years.
Experts predicted the price of ADA in the coming years
According to Finder’s panel of fintech experts, ADA, which is currently trading at $1.01, could climb 168% to $2.79 by the end of the year. . Moreover, over 10% of experts predict that the upcoming rise of ADA will push the project to the top of the altcoin rankings this year, surpassing Ripple (XRP). Examining the network’s smart contract capabilities, panelists expect more to come from ADA in the next eight years. According to the forecast, ADA will not only rise to $2.79 by the end of the year, but will also rise to $8.18 by 2025, and then to $58.04 by 2030.
Finder’s chief product officer, Vanessa Harris, said exclusive to the Cardano network:
Formal methodologies and one of the few smart contract platforms backed by peer-reviewed research.
Cardano network embraced by developers
Although nicknamed the “Ethereum Killer” among the community, it is worth remembering that the network lags behind Vitalik Buterin-led Ethereum in terms of development, with many criticizing the team for its poor speed in releasing important updates . In response to the concerns, Cardano stated that during the CIP-35 all developments were subjected to extensive testing before adoption. Decentralized exchanges (DEX) are already running on Cardano with total locked value (TVL) across various platforms exceeding $100 million earlier this month. NDAX CEO Bilal Hammoud defended Cardano in this regard:
ADA is one of the least appreciated altcoin projects, and once smart contract and DeFi solidify, we should see many projects switch to it.
The panel also discusses some of the reasons for the drop in ADA prices with the Alonzo upgrade:
Cardano’s price dropped after the Alonzo update. Our panel, on the other hand, cannot agree on the exact cause. When 33% of the panel chose each of these options, the panel attributed the price drop to several reasons. Lack of market share for TVL, claiming to be only early stages after update, including general volatility and other unspecified reasons (panel was allowed to choose more than 1 answer).
Other issues raised by panelists were concerns about dApp vulnerabilities and the UK’s ADA ban. Capo, whose analysis we share as Kriptokoin.com, talks about the possibility of the ADA price falling dramatically in the coming period.
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