In August 2021, Cardano founder Charles Hoskinson announced the launch of the Alonzo hard fork, causing the price of the ADA token to surge. According to Coinmarketcap, it gained 116% the following month. After that, it reversed some gains, dropping to the sixth spot by market cap. Does Cardano have a future? Read on to see our take. By the way, here are the best places to buy Cardano now.
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What is Cardano?
Cardano is one of the biggest blockchains to successfully use a proof-of-stake consensus mechanism, which is less energy intensive than the proof-of-work algorithm relied upon by Bitcoin. Although the much larger Ethereum is going to be upgrading to PoS, this transition is only going to take place gradually.
All of the technology developed by Cardano goes through a process of peer-reviewed research, meaning that bold ideas can be challenged before they are validated. According to the Cardano team, this academic rigor helps the blockchain to be durable and stable, improving the chance of anticipating potential pitfalls.
Should I buy Cardano today?
Crowd Wisdom predicts a price in the range of $ 1.62 to $ 1.71 today. Their overall recommendation for the next 24 hours is Buy. If you’re not sure, read other predictions to make the most informed decision.
Cardano price prediction
For the longer term, Wallet Investor forecasts a bullish trend. According to the analyst platform, the average price of Cardano could be $2 at the beginning of next year, climbing to $4.1 by the end of 2022. By the end of 2026, it might hit $12.
Cardano on social media
We are just getting started!!
#cop26 has ended but it is only the beginning of worldwide efforts to curb climate change, one of which is through #reforestation. 🌱🌳💚
@veritree_ ➕ #CardanoFoundation partnership goals 🙌
— Cardano Foundation (@CardanoStiftung) November 13, 2021