See why Cardano (ADA) has become the new favorite of the market! ADA coin prospect analysis, prediction and investment strategy

Recently, Cardano (ADA) has made significant progress in the market. According to a report by data provider TradingView, the price of ADA has reached a peak of $0.643, its highest level since June 2022. At the same time, the cryptocurrency’s trading volume also hit a record high for the same period. This rising popularity reflects Cardano’s renewed interest in the market, making ADA one of the most undervalued cryptocurrencies worthy of investors’ consideration.

This article aims to provide an in-depth analysis of Cardano’s market performance, technological progress, future price predictions, and relative investment strategies to help more cryptocurrency investors make informed decisions.

What is Cardano (ADA) Coin?

ADA, known as "ADA Coin" in Chinese, is the native token (Coin) of the Cardano blockchain mainnet. It can be used for transfer payments like legal currency, and can participate in the circulation, staking mining and governance (including proposals and voting) of the Cardano ecosystem. The maximum supply of ADA is 45 billion, the circulating supply is 35 billion, and the circulation rate is 78%. The current market value is US$10 billion, ranking seventh in the world.

Cardano, known as "Cardano" in Chinese, is a public blockchain platform (commonly called "public chain") similar to Bitcoin (BTC), Ethereum (ETH), BNB Chain (BNB) and Ripple (XRP) , which can provide a secure, transparent and control-free infrastructure for various applications.

In 2015, the former co-founders of Ethereum, Charles Hoskinson and Jeremy Wood, established Input Output Hong Kong (IOHK), a research and development company in Hong Kong. Members of the team initiated the development of Cardano. In 2018, the Cardano mainnet was officially launched, marking the official birth of the Cardano blockchain platform!

Latest ADA coin price trend chart

Cardano (ADA) has demonstrated great resilience in the cryptocurrency market, being able to withstand various market conditions. It is predicted that Cardano (ADA) could rise by 32%, but it depends on whether the coin is able to maintain key price levels. The optimism stems from a technical pattern that suggests its downtrend has reversed.

Currently trading at around $0.64, Cardano (ADA) has experienced significant gains of 16.36% over the past week, surpassing the other top ten cryptocurrencies. This shows the market’s strong favor for Cardano (ADA).

It is expected that the price of Cardano (ADA) could rise to $0.70, depending on whether it can maintain the momentum and break through the key price point. Increased transaction activity and strong buying interest are likely to drive this growth.

ADA coin price prediction from 2024 to 2033

Cardano (ADA) price prediction shows a bullish outlook for the period from 2024 to 2033. The cryptocurrency has experienced significant volatility throughout the year, but recent price gains have boosted investor sentiment. To better understand this dynamic financial landscape, we will provide an in-depth analysis of Cardano’s price trajectory between 2024 and 2033.

Is ADA worth holding for the long term?

ADA coin is a virtual currency suitable for long-term holding. Currently, it ranks seventh on the digital currency rankings and shows great potential. ADA coin is the token of the Cardano project, which aims to solve the limitations of first- and second-generation blockchains such as Bitcoin and Ethereum, providing decentralized applications, unparalleled security and scalability, and The ability to deploy smart contracts.

The Cardano project was initiated by Ethereum co-founder Charles Hoskinson and others, and the concept was first proposed in 2015. The total supply of ADA tokens is 45 billion, of which 26 billion tokens were sold in the ICO at a price of $0.0024. The name of the ADA token comes from the 18th-century British mathematician Ada Lovelace. She is considered to be one of the most important figures in promoting the development of computer programming languages in the early days and is known as the first programmer in human history.

ADA coin does not belong to any country, it is a decentralized digital currency. Although the initiators and some participants of the Cardano project are from different countries, this does not mean that the ADA currency belongs to these countries. Like other digital currencies, ADA Coin is a global digital currency that can be used and traded around the world.

Currently, the main competitors of ADA coin include Ethereum (ETH) and EOS. In terms of project planning, the Cardano team has shown great ambition and intends to create a new system that can be widely used and sustainably developed. Compared with existing public chain projects, ADA plans to achieve breakthroughs and improvements in three aspects: scalability, interoperability and sustainability.

Why was ADA coin considered the next Ethereum?

In the blockchain field, Cardano’s ADA coin was once considered a candidate for the next generation of Ethereum. Cardano’s PoS (Proof of Stake) mechanism has attracted much attention. Although other virtual currencies such as ALGO and CELO also use the PoS mechanism as the consensus mechanism, Cardano does have its own uniqueness in this regard.

In 2017, the PoW (Proof of Work) mechanism was the dominant consensus mechanism in the blockchain market, and the EOS consensus mechanism based on DPoS (Delegated Proof of Stake) also came out. At that time, a new blockchain efficiently operated and supervised by a group of professional and technical personnel became one of the market focuses.

Cardano has attracted great attention from the market with its excellent PoS technology. It has been hailed as the next generation of Ethereum, and at one point ranked third in market capitalization rankings, behind Bitcoin and Ethereum (the ranking dropped to seventh in 2022, having been surpassed by Solana and XRP).

Unlike other virtual currencies, Cardano's PoS mechanism has currency protection functions and brings higher rights and interests to users. More importantly, it has better scalability and can achieve higher transaction speeds and lower transaction costs in the future.

In short, Cardano’s PoS technology has obvious advantages, and its status and prospects are exciting.

How to invest in ADA coins?

In the cryptocurrency market, investors have two trading methods to trade cryptocurrencies.

The first trading method is to buy cryptocurrency directly on a cryptocurrency exchange, such as buying ADA Coin on the Binance exchange. This method is to buy actual ADA coin spot, usually for long-term holding, and wait for the price to rise before selling it to make a profit.

The second trading method is to choose cryptocurrency Contracts for Difference (CFDs) to trade by speculating on changes in cryptocurrency prices.

Contract for Difference (CFD) is a popular derivative financial product that allows long and short trading of cryptocurrency through margin without actually holding the asset.

Investors can choose to open CFD long orders (predicting price increases) or short orders (predicting price decreases). For example, choose the ADA/USD trading currency pair to speculate on the price trend of ADA coins. Due to the short term of CFD contracts, this trading method is very suitable for short-term operations and is also suitable for spot hedging.

What is the biggest difference between the first trading method "Buying Cryptocurrency Spot" and the second trading method "Investing in Cryptocurrency CFDs"?

First of all, the first trading method stores purchased cryptocurrencies in a wallet, while CFD trades positions in accounts and is regulated by financial regulators.

Trading CFD is not restricted by trading assets. What you buy/sell is just a contract, so you have greater flexibility. CFD is a mature financial product that is regulated.

CardanoADA investment strategy in 2024 disclosed

Understand the Cardano project: Before investing, it is recommended that you have a deep understanding of the background, goals and technical characteristics of the Cardano project. Knowing basic information about a project can help you better assess its potential and long-term prospects.

Study Market Trends: Keeping a close eye on cryptocurrency market dynamics and trends is crucial to developing an investment strategy. Understanding the overall market trends and the performance of ADA Coin within it can help you make more informed investment decisions.

Diversification: Diversification is a common strategy when investing in cryptocurrencies. Consider allocating your investment funds among different cryptocurrency projects to reduce risk and obtain better returns.

Focus on technological development: As a science-driven project, Cardano continues to conduct technological research and development and innovation. Following a project's technical progress and milestones can help you better understand its direction and potential impact.

Consider holding for the long term: Cryptocurrency markets are highly volatile, and prices can fluctuate significantly in the short term. If you believe in the long-term prospects of the Cardano project, it may be a good strategy to consider holding ADA coins for the long term.

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Summarize

As the native token of the third-generation blockchain platform Cardano, ADA coin has gained market recognition due to its leading technological superiority. After its birth, the market value continued to soar, occupying the top ten rankings for a long time, and never wavered due to the arrival of the bear market.

However, as a public chain currency, ADA coin has a relatively sound underlying network infrastructure, but the ecology of the application layer is still relatively lacking, and it needs continued efforts to make a leap forward. Otherwise, it will not only stagnate, but may even be dumped by other public chains.