Cardano has soared over 762% since its inception into the market in 2017. The current Cardano crypto price is £0.7, which is up almost 5% in the last 5 days. However, broadening this horizon to the past 30 days, the Cardano price is down 8%, following the bearish crypto markets.
Interested in the future price moves of Cardano? Then read on for our Cardano price prediction!
As mentioned, the current price of Cardano is £0.7. Let’s take a brief look at where the coin could go over a 1-, 2-, and 5-year horizon:
· 2022: £3
· 2023: £5
· 2025: £10
Cardano Price History
As mentioned, the current Cardano crypto price is down 8% over the past 30 days. Expanding this timeframe to one year, the price is over 20% lower. Much of this fall has been in line with the broader crypto market’s movements. Year-to-date, the price is down 31%, highlighting the fall. For reference, Bitcoin is down almost 10% year to date.
However, the bearish crypto markets could prove a great chance to buy Cardano at a cheaper price. Being down over 67% from its all-time high of £2.14, there is some great room for growth. There are also many other reasons to be excited for Cardano in 2022, with the developers behind the coin announcing some exciting upcoming projects:
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
New updates
A recent update from Cardano developers Input Output Hong Kong (IOHK) contained some exciting news for the future of Cardano. Recently the platform saw the implementation of 3 major updates to improve the smart contract capabilities of the coin. These built upon the core network introducing powerful improvements and enhancements.
Regarding the future, the developers stated that there was another series of updates coming in the near future, including the deployment of light wallet, a decentralised app store, development tools, new APIs, and sidechains.
Cardano has stated that these adjustments will be implemented steadily to guarantee the safety of its users and holders. This is great news for the coin as increased capabilities will likely lead to wider use and adoption.
More minor updates
During the last week of February, Cardano added multiple smaller updates to help smooth out some of the common processes. These included adding a DB layer into the Cardano wallet and finalising new transaction workflows to mint and burn tokens.
Current low price
As mentioned, the crypto market has been sliding over the past few weeks. An index of the largest 10 crypto’s reveals that the wider market is down over 20% since November. November 2021 marked the peak of the last crypto bull run, where Cardano reached a price of £1.68.
Whilst this may seem demoralising, it could prove a great opportunity to load up on ADA, and other cryptos. It is likely only a matter of time before the next crypto bull market, and as such, today’s prices may offer a big discount down the line.
Cardano Price Forecast 2022
Cardano is working to constantly improve its products, even through a bearish market. This should give investors confidence as the utility of the project is always increasing. This sets Cardano aside from many other ‘meme coins’. Dogecoin for example, has no real-world utility other than being publicly traded. In the future, this is likely to lead to its downfall as other high utility projects such as Cardano come to light.
This seems to add fuel to a bullish Cardano forecast and is why many analysts see long-term value in ADA. Building the utility at this point could act as a slingshot for when crypto markets begin to pick up again, and hence the price of ADA could rise massively and even surpass its all-time high.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Cardano Price Prediction Long Term Outlook
It seems safe to conclude that the Cardano project is extremely well managed, and updates are constantly being made to streamline the products and services it provides. Therefore, the biggest deciders of Cardano’s future price may come from the following:
Crypto markets:
As crypto markets grow, Cardano will follow. Being one of the largest coins on the market, with a $31 billion market cap, it will be highly reactive to market price moves. As the world moves towards a decentralised future, the crypto market will likely grow, which is good news for Cardano long term.
Decentralised world:
Cardano will benefit from this decentralised shift, as it is a public blockchain. This means that applications can be directly built onto it and transactions verified through it. As more and more of this occurs, the Cardano platform will grow, and the price of ADA will rise.
Is Cardano the Best Crypto to Buy in 2022?
With its price being so far off of its all-time high, Cardano could be a great buy at current levels. However, if you are looking for a higher growth prospect coin, we recommend Lucky Block.
LBLOCK is the governance token for the Lucky Block gaming platform. Being a decentralised play-to-earn game, it uses blockchain technology to enhance gaming fairness and transparency amongst players.
Lucky Block recently launched on the PancakeSwap exchange and generated huge interest after its spike in price. Initially, it was listed for $0.0020, but soon crept up to the $0.0092 level, rewarding early investors. Due to this crazy price movement, the coin became the fastest to reach a $1 billion market cap in the history of crypto markets. As such, many market commentators have labelled Lucky Block as the best crypto to buy for 2022. The coin is also looking to list on some of the top crypto exchanges like Binance and FTX later this year.
How to Buy Lucky Block
If you are interested in buying Lucky Block, then you have two options. You can either visit the Lucky Block website or set up an account with PancakeSwap and purchase it there. We will now look at how to purchase Lucky Block using PancakeSwap:
Visit the PankcakeSwap website:
The first step is to visit the PancakeSwap website. To do this, simply enter it into your web browser or follow this link.
Connect your wallet:
Now you are on the website, you can connect your wallet. To do this, navigate to the ‘connect wallet’ option in the top right corner. The platform accepts a plethora of wallets including Metamask, Binance Wallet, and Coinbase Wallet. Once here, sign into your wallet to continue.
Purchase or use existing BNB:
To purchase LBLOCK, you must first purchase BNB coin, as LBLOCK operates on the Binance Smart chain. If you have existing BNB then you can use this at this stage.
Insert LBLOCK Contact Address to purchase:
Now you have BNB in your wallet, you can use it to purchase LBLOCK. After clicking on ‘Trade’ you will have to enter the LBLOCK contact address:
LBLOCK Contract Address: 0x2cD96e8C3FF6b5E01169F6E3b61D28204E7810Bb
Then click ‘import’ after selecting the amount you wish to purchase.
Cryptocurrency markets are highly volatile and your investments are at risk.
Conclusion
Cardano has grown significantly in value over the past few years, proving a great investment. Our predictions indicate this trajectory could continue in the coming years, with huge long-term upside. Much of this growth can be attributed to its high real-world utility.
However, we believe the best crypto to buy for 2022 is Lucky Block. It has experienced almost 5x gains since its inception, being the fastest crypto in history to reach a $1bn market cap.
Cryptocurrency markets are highly volatile and your investments are at risk.
Disclaimer:
The above content is non-editorial, and BCCL hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content. Crypto/NFTs are unregulated, highly risky, and there may be no regulatory recourse for any loss from such transactions. Readers to exercise caution/due diligence, and comply with all applicable laws, including but not limited to taxation laws. Above content does not constitute investment advice nor promotes, suggests or presents Crypto/NFTs to solve financial difficulties/achieve financial security/act as an alternative to employment/income opportunity.
Disclaimer: Content Produced by CryptoPR
