Can Cardano reach $100, $500?
Can Cardano reach $100, $500? Can Cardano catch up with Ethereum and stave competition from Solana and Aptos?
Latest Cardano Price USD
|Metric||Last 24 Hours||Trend|
|Net Social Media Sentiment||15.2%||Higher|
Article Coverage: Latest Cardano News, Cardano Crowd Poll, Will Cardano Reach $500, $100?
Latest Cardano News And Statistics
- The Cardano Foundation has responded to the Parameter Committee’s recommendations regarding network parameter settings. They support implementing changes gradually, starting with halving minPoolCost, followed by further adjustments in Q3 and Q4, 2023.
- A competition called “Battle of the Builders” for early-stage Cardano startups has been launched, offering prizes and access to accelerator programs.
- AdaStat, a Cardano Blockchain Explorer, was featured in a developer blog. It offers various features for exploring Cardano data.
- The voting period for Catalyst Fund 10 has ended, with results to be confirmed on Sept. 21, 2023.
- CoinDesk is the official media partner for the Cardano Summit 2023.
- An app for Cardano Summit 2023 is coming soon, providing access to exclusive content.
- ADA Rank: 17th; Ethereum Rank: 1st
- Last 7 days change: ADA: +6.0%, ETH: +7.4%
- Last 1-month change: ADA: -8.4%, ETH: -9.0%
- TVL: ADA: $152.8M,ETH: $21.2B
- Cardano Rank: 9th, Ethereum Rank: 1st
- NFT Sales: ADA: Dropped by 8.6%, ETH: Dropped by 38.8%
Cardano – Buy or Sell? Crowd Poll
- June 30th: 67.7%
- August 3rd: 48.8%
- August 29th: 55.3%
- September 11th: 57.8%
- September 21st: +56.3%
- September 22nd: +56.9%
Cardano Price Prediction $500: Introduction to Cardano
Cardano is a decentralized public blockchain employing the proof-of-stake Ouroboros consensus protocol, setting itself apart as an efficient alternative to Proof-of-Work systems. It offers a platform for a plethora of applications, from dApps and DeFi projects to games. Unlike Bitcoin’s Proof-of-Work mechanism, Cardano’s unique transaction validation uses a proof-of-stake consensus, with network participants as validators. The blockchain comprises two segments: the Cardano Settlement Layer (CSL) for transaction validation and the Cardano Computing Layer (CCL) for app computations.
Cardano’s Projects and Use Cases: Cardano’s expansive ecosystem caters to a wide array of applications. DeFi platforms like ERGO DEX, MELD, and SundaeSwap have been developed on the network. ERGO DEX facilitates trading across either the ERGO or Cardano network, MELD introduces fiat loan capabilities to the crypto domain, and SundaeSwap operates similarly to Uniswap. Additionally, a myriad of apps, ranging from DEX platforms like AdaSwap and Minswap to crypto wallets like Nami Wallet and lending platforms like Ardana, have been introduced. The Cardano blockchain also supports NFT marketplaces like Galaxy of Art and Artane.
Will Cardano Reach $500?
To reach $500, Cardano will need to rise nearly 1500 times the current price. At $500, Cardano’s Market Cap would be $17 Trillion. If Cardano rises at the rate of 25% every year, it will take it 32 years to reach $500.
Considering all the data sets, here is the evaluation
- Quality of Investment – Good
- Growth needed to reach $500 – Not Feasible
- Market Cap at $500 – Not Feasible
- Time required to reach $500 at a rate of 25% per annum – Not Feasible
Overall, there is no way that Cardano will reach $500. The best-case scenario is for Cardano is to burn 75% of the coins.
- Cardano is struggling to differentiate itself from Ethereum and is underperforming ETH (as we saw earlier)
- Blockchain and Cryptocurrencies are not yet fully proven concepts and it would be crazy to predict a $7 Trillion market cap with the data we have.
- Given the 2008 credit crisis and the massive liquidity after COVID, the Central Banks and Governments are learning harsh lessons and it is unlikely liquidity will run as freely as did between 2017 and 2021.
Will Cardano reach $100, $200, and $300?
To reach $100, ADA will have to rise 303 times. At $100, Cardano’s market cap would be $3.5 Trillion
- Ethereum went from $8 to $1600 in less than 6 years
- Binance rose 200x in 5 years
- BTC went from $100 to $20000 in less than 10 years
If Cardano were to rise at 30% every year, it would take it 22 years to reach $100.
Over the last 12 months and most of this year, Cardano has trailed or was on par with Solana and Ethereum. It is difficult to imagine Cardano replicating Ethereum’s performance anytime soon. Perhaps future upgrades would position Cardano in a better position to reach $100 but not at the moment.
Can Cardano Reach $200?
If ADA were to rise 20% a year, it would take Cardano 34 years to reach $200 (assuming burn)
If ADA were to rise 30% a year, it would take Cardano 22 years to reach $200 (assuming burn)
Can Cardano Reach $300?
If ADA were to rise 30% a year, it would take Cardano 27 years to reach $300 (assuming burn)
If ADA were to rise 50% a year, it would take Cardano 16 years to reach $300 (assuming burn)
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.