What Is Cardano (ADA) Crypto? What Is Its Price Prediction?

May 12, 2021 02:32 AM AEST | By Anuj

Cardano (ADA)

The crypto coin’s current price is US$ 1.7 apiece, which is quite close to its all-time high value of US$ 1.84. Its total supply in circulation is 32.08 billion, representing the inflated nature of the coin.

ADA is up 857 per cent year-to-date (YTD). On May 11, its trajectory was moving in the range of US$ 1.53 to US$ 1.78 apiece.

The token could hit a US$ 2-mark in the light of its upcoming smart contract. However, the token bulls could be tested by its record high, and the US$ 2 sentimental level could play as a potent resistance.

Source: Pixabay

Major Cardano Developments

Staking for Cardano’s ADA crypto coin is now available on US-based crypto exchange Kraken. Its website’s inbuild calculator claims that by pooling or staking in ADA, investors can earn up to 794.72 per cent in yield.

Ethiopia’s education minister announced on April 30 that the country’s government is working with the Cardano protocol’s IOHK, which helps track student performance in schools through the blockchain-based system.

Cardano developers were supposed to unveil the smart contracts-related testnet by the end of April. A delayed testnet launch might hurt its prices in the upcoming days. If its developers do not introduce the software to deploy DApps by the next month, Ethereum 2.0 launch might overshadow its publicity.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.

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