$8 or $58? 3rd or 7th? – What the ‘experts’ say about where Cardano will go
In 2021, Cardano was the third-biggest crypto by market cap, breathing down Ethereum’s neck. However, 2022 saw it in seventh place. To that end, Finder’s panel of fintech experts came together to predict ADA’s future price performance. The final estimate was well worth a read.
To make a long story short, the target is for ADA to hit $2.79 by the end of 2022. It might not remind investors of Solana’s dazzling rise to $100 and beyond, but is still a 168% rally.
Things really take off, however, in 2025, which is when the panel guessed that ADA would hit $8.18. Meanwhile, the 2030 prediction is $58.04.
At press time, ADA was trading at $0.9374. This, after falling by 6.01% over the last 24 hours.
So, what do the experts think about the crypto’s fall in price? Well, there are a number of convincing theories.
24 panelists felt that it is due to the absence of market shares in TVL, the initial period after the Alonzo update, and general volatility, among other factors.
Market cap dominance is one way to judge the strength of a crypto-asset. Looking at ADA, however, reveals a steadily falling dominance from close to 4.5% to less than 2% over the course of the past few months.
On the contrary, the real shocker was when ADA fell from around 2% to zero, in the space of a day.
Source: Messari.io
Now, there are signs of growth as well. In late January 2022, developer activity on Cardano reached heights not seen since the summer of 2021. Dev activity on Cardano seemed to rise along with ADA’s price. Ergo, it’s not surprising that the most recent drop led to a small decline in developer activity as well.
Here, it’s worth noting that consistent developer presence is a good sign of a network’s potential.
Source: Santiment
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