Cardano breaches ATH. What is the ADA token price prediction?

Highlights 

  • With the Alonzo upgrade, Cardano is getting attention from the investors, and it is now the third-largest cryptocurrency in terms of market capitalization.
  • Cardano token price is expected to further go up this year and reach more potential investors due to the latest upgrade.
  • Cardano seems to have strong growth potential as it is a 'green coin'.

Cardano (ADA) crypto token price witnessed a sudden surge on Monday, August 23, and breached the previous all-time high of US$ 2.45 per token to reach US$ 2.85 per token. From being a lesser-known cryptocurrency, Cardano has attracted investors’ attention over the past few months.

At the time of writing this, the ADA token was the third-largest cryptocurrency in the world, trading at US$ 2.82 per token. Only behind Bitcoin and Ether, Cardano's market capitalization is US$ 90.3 billion, according to the data from CoinGecko.

After recording a massive dip in cryptocurrency prices in May this year, the market is gaining momentum for the past two weeks. Last week, the total market cap of cryptocurrencies had crossed US$ 2 trillion for the first time since May.

On August 23, Bitcoin was up by two per cent and finally reached US$ 50,292.44 per token after trading below the US$ 50,000 levels for almost three months. Ether was also up by about three per cent and trading at US$ 3,342.42 apiece at 7:30 AM EST, according to Coindesk data.

Apart from these two traditional cryptocurrencies, altcoins have also rallied in the crypto since the past few months. They seem to have long-term growth potential as crypto enthusiasts are also focusing on altcoins.

ADA token price movement and prediction

One year ago, the ADA token had dipped to US$ 0.01925275 apiece on March 13. Ever since then, the digital asset has bounced back by 14530 per cent to US$ 2.82 per token. In the last one week, ADA token price surged by 30 per cent, according to CoinGecko data. 

The price surge in ADA token could be due to the announcement of the launch date for Cardano's smart contracts. The public blockchain platform is set to launch the smart contracts on September 12 and this process will be known as the Alonzo upgrade.

Also Read: Loopring skyrockets to $0.51. What is LRC token’s price prediction?


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The latest upgrade will enable Cardano to compete with programmable blockchains and it will offer solutions to real-life problems. Smart contracts enable the users to use blockchain as a programmable platform that can run other applications.

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With new features and the latest upgrade, Cardano token price is expected to further go up this year and reach more potential investors. Even during the crypto market crash, ADA token had shown resilience and it will likely reach US$ 5 per token by the end of 2021.

Bottomline

Cardano seems to have strong growth potential as it is a 'green coin'. Bitcoin and Ethereum are considered harmful to the environment and due to this reason, Cardano will have an upper hand on their cryptocurrencies as crypto enthusiasts might look for an environment-friendly digital asset.

If the crackdown on Bitcoin is successful, Cardano prices might record a massive price surge in future.

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