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Cardano is one of the top cryptocurrencies that has attracted several investors to the market
Cardano is one of the top crypto assets that managed to retain its position among the top 10 for the longest time possible. The Cardano coin is also considered one of the fastest-growing crypto assets that are also one of the most affordable and safe options to choose for long-term investment. But lately, the ADA has dived in terms of market value. Experts predict that soon the crypto might touch down to US$1. Some will wonder how much the crypto can dive in, whereas, several other investors will consider this as the perfect opportunity to buy the dips. Currently, according to coinmarketcap, the current value of Cardano at the time of writing this article is US$1.09. Even though its market prospects might cause speculation and confusion in the market, there are several experts who believe that the crypto will survive over the long term. But right now, things don’t look so good for the ADA crypto as it has gone through quite a rough time. And looking at the volatility and the present state of the crypto market, it is quite difficult to say when it will regain its value.
The Cardano Upgrade and Related Projects
It is important to understand that Cardano just underwent a major transformation in this era of smart contract functionality. Around September 2021, Cardano reached a milestone as it proceeded towards the Alonzo upgrade, which aims to bring smart contracts to live on the network. But right after this upgrade, the ADA prices shot down vigorously. But it might also be some sort of coincidence.
Back in January 2022, the Cardano token fell almost over 30%, but since then the crypto has been fast-rebounding, better than other cryptocurrencies like Bitcoin and Ethereum. In fact, crypto is up by 300% over the last 12 months. There are several reasons behind this price hike. Firstly, Cardano has proven to be one of the most active crypto projects in the industry over the past year. Its upgrade received a lot of praise and affection from the investors and acted as the catalyst that drove the price hike. But after hitting all-time highs back in 2021, the crypto continued to dive, along with several other major cryptocurrencies.
Cardano Price for 2022
Wallet investors view Cardano as an affordable form of an investment asset. Experts predicted that ADA’s price might hit over US$3.10 within a year. The market is quite optimistic about Cardano’s future prospects. Its future projects and upgrades might also result in an upswing in its prices. By August 2022, the crypto is expected to reach at least US$1.50. The estimated price growth is expected to be more than 72% until the end of the year.
So, would you consider Cardano a good investment?
The answer is yes. Cardano is a pretty good investment. Considering the increase in its fundamental and technical aspects and features, the ADA will rise in the future for sure. Investors who are used to investing in digital assets are quite used to the volatility in the market. Cardano is not different. But new investors make sure that they know what it means to get involved in a decentralized market and invest in such a volatile asset.