Cardano has made so much headlines as accomplishing many recent updates on their roadmap have helped ADA reach the third-largest cryptocurrency by market capitalization.
In addition to strong fundamentals, Cardano (ADA) has an interesting technical formation that signals an upcoming price movement. There are high expectations of the community for the price of $3. The question is not IF, but rather WHEN will Cardano (ADA) reach $3?
Is Cardano (ADA) a Good Investment?
Cardano holders have made huge profits since the beginning of 2021. In fact, the value of the token has increased from $0.15 to $1.70. This is +800% returns that are more than traditional shares and many cryptos. In that sense, Cardano is a great investment.
To assess whether Cardano is a good investment today, we need to understand its current price, the schedule of upcoming projects, and what’s happening in ADA community.
Cardano Price Forecast-short-term goal of $2
In the last 24 hours, ADA has managed to jump 6%, while its competitors such as XRP and XLM have fallen almost 4%. In the medium term, the ADA is still in an uptrend. In the figure below, we can clearly see how prices have been steadily rising.
ADA prices are a bit too high so you can expect a slight correction in the short term, especially before reaching the $2 price mark. This target price is expected to be reached around July 2021.
When will Cardano Reach $3?
Many people expect the ADA to reach the price of $3. This will lead to a market capitalization of about $96 billion.
To achieve target of a $96 Billion marketcap, ADA has to bring innovations, new partnerships, institution investors, and ADA team has been successfully doing this. ADA team is busy bringing many new features that will certainly increase the price of ADA above $3.
The Cardano blockchain development team has already revealed information about the release of smart contracts. Following the release of its Mary protocol in March, Charles Hoskinson’s Cardano founder announced that its Alonzo update would be available in August.
The addition of smart contracts to Cardano will lead to a flood of new businesses that can potentially reward investors and thus create new earning opportunities.
Smart contracts will appear on the main network for Cardano, probably in August, provided that there are no delays with the roadmap. Because of smart contracts, we’re going to see this just an explosion of new projects coming to Cardano.
You can expect big things from Solana (SOL) because of its high speed, low fees, and size. The Solana developer ecosystem prefers to build with Solana as the ecosystem expands without sacrificing censorship resistance or protection.
Non-exchangeable tokens( NFTs), which are unique digital assets that can be used to showcase digital art, real estate, tickets, etc, coming on Cardano, are another trend that will continue to generate returns for investors.
With so many developments, it is only a matter of time ADA price will touch $3. You can expect ADA price to reach $3 by the end of September 2021. But it will not be a straight path, you can expect a lot of ups and downs before reaching 3 Dollars.
Originally published at https://thecryptobasic.com on May 10, 2021.
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The Question Is Not IF, But WHEN Will Cardano (ADA) Reach $3 was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.