Cardano launched in September 2017 following two years of research and development. The smart contract platform also has a settlement layer powered by the ADA cryptocurrency. Key developers of the Cardano platform are IOHK, the Cardano Foundation, and Emurgo.
Although created to support smart contracts and decentralized applications similar to Ethereum and EOS, Cardano boasts a unique approach that sets it apart. The platform adopts a peer-review approach, with its development backed by scientific research.
Since its launch, Cardano (ADA) has attracted quite a lot of attention to see it become one of the top ranked cryptocurrencies on the market.
7 Days Change
Cardano is available for buying on most cryptocurrency exchanges and brokerage firms across the globe. Research the asset by checking out Cardano price history and Cardano price prediction to get a glimpse of past performance and future price expectations. But be sure to buy all your coins using a reputable and regulated platform as that can count towards the overall safety of your assets.
In June 2016, the UK voted to leave the European Union. In October 2019, a Brexit date was agreed on as January 31, 2020. In January, Prime Minister Boris Johnson’s Brexit bill went through both Houses and received royal assent.
With Brexit in sight, markets were looking to bounce on the potential for a peaceful exit. But fears about the coronavirus outbreak in China saw markets shrink.
Investors keen on safe-haven assets flocked to gold. However, Bitcoin surged more than 6% to reach $9k on January 27. Altcoins followed suit and Cardano (ADA) surged 12%, the most among the top 10 cryptocurrencies. The coin’s value reached $0.054 as sentiment in the wider crypto market turned bullish.
Cardano (ADA) is one of those cryptocurrencies that many experts have said has the potential to surprise in the market. Although prices have not had a major spike since January 2018, Cardano price prediction for 2020 suggests this may be Cardano’s year. But how does it compare with the Pound, Gasoline, and Ethereum?
The value of Cardano in GBP today (Jan 30th, 2020) is £0.042. The Pound has been stronger over the last several months, but its price range is far off that of Cardano. As per Cardano price live charts, the crypto has gained over 3.8% within 24 hours against the British currency. In 7 days, it’s up 7.8% and more than 35% up since the start of November 2019.
Prices in the crypto market swing wildly, meaning Cardano price predictions 2020 may vary. However, fundamental analysis and overall market sentiment are bullish about ADA long term. Cardano price analyses based on technical indicators have the price of ADA at its 52 week high of £0.08 by December 2020. From here, Cardano should settle into a steady price push that would see edge closer to it’s all-time high price of £1.02.
US gasoline prices are -5.75% and -14.02% down over the past week and month respectively. On Friday, January 24, prices for the commodity plunged more than 3.4% to see prices touch a low of $1.5 per gallon. Projections for gasoline have its Q1 price at $2.1598, Q2 $2.2313 and Q3 at $2.3051, with Q4 prices predicted at $2.392 per gallon. That puts its forecast at just above 27% for the year.
Comparatively, Cardano opened 2020 with a positive rally that has seen its value rise 11% YTD. Cardano price today is +4.2% up against the U.S. Dollar as prices jumped from $0.041 to a high of $0.045. Prices are not anywhere near their all-time high, but Cardano price projections are bullish for ADA to hit $0.1 in 2020 and push for parity with the dollar in the next couple of years.
Both Cardano and Ethereum support dApps and smart contracts. Cardano is a Proof of Stake (PoS) coin that uses an algorithm called Ouroboros. Ethereum’s looks to switch from PoW to PoS.
In the market, Cardano and Ethereum both had their best prices during the 2017 crypto price boom. While Ethereum rose to hit prices above $1,430 in January 2018, Cardano’s ADA coin skyrocketed from just $0.02 in September 2017 to hit $1.32 that same month.
Cardano and Ethereum are both looking to conquer the dApps and smart contracts space. But because Cardano is built to cater to regulatory requirements, its trajectory may improve dramatically once it has been fully developed. Again, the price of Cardano today is below $1 and thus is a great buying opportunity for new investors or seasoned hands looking to diversify.
The price of Cardarno has risen 62% over the course of January, 2020. The cryptocurrency has also made massive 24-hour gains against Bitcoin with the ADA/BTC pair up by more than 10% on that day. Of course, this is crypto and prices can swing wildly from one end to another. But forecasts are bullish for this particular token. Cardano price predictions for 2020 are looking at prices close to $0.2 by the end of the year. Is this the right time to buy or invest in Cardano? As one of the most highly praised projects, ongoing developments, and eventual adoption could be instrumental in pushing the value of ADA higher. For anyone keen on a long term bet, then investing in Cardano (ADA) is certainly an option to consider.
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