Cardano Price to End Year at USD 0.63, Increasingly Bearish Panel Predicts
A panel of crypto industry players surveyed by comparison website Finder.com has predicted that Cardano’s native token ADA could reach USD 0.63 by the end of the year – a significant downgrade from the previous prediction.
Judging from an average of the panelists’ responses, Cardano’s native token is likely to rise by just over 30% from its current price to reach a year-end price target of USD 0.63.
ADA last traded above that price level as recently as June 10 this year, which illustrates just how bearish Finder.com’s panel has become on Cardano.
Daniel Polotsky, founder and chairman of bitcoin (BTC) ATM operator CoinFlip, stated that,
“[I]ts price and hype are way too high given its relatively low total value locked compared to its competitors,” he said. “The project was founded in 2015 and released in 2017, yet it has squandered that early-mover advantage to competitors who have recruited developers and built at a faster pace.”
Others, including fintech firm Cloudtech Group’s chief operating officer Kevin He, were also skeptical about Cardano’s future.
He argued that Cardano's advantage of fast transactions will disappear with the launch of ETH 2.0, adding:
"And due to the efficiency problem of the development team causing Cardano to significantly lag behind other competitors in smart contracts and dapp compatibility, coupled with the bear market blow we are not optimistic about the value of Cardano in the future.”
The prediction also marks a significant downgrade for the price of ADA compared to a prediction from January this year, when Finder.com’s panel said ADA was likely to finish 2022 at USD 2.79.
The latest forecast is also much more bearish when looking further into the future. In January, the panel predicted ADA
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