Will Cardano reach $1? If you are planning to invest in Cardano, this question will be on your mind. If it is so, you don’t need to worry because here is a post that will give you the answer.
Cardano was launched in 2017 and is one of the best cryptos for investment. It was initially at $3, and then its price surged. Will this crypto reach $1 or not? If it will reach then how much time will it take? Many other cryptos are on the verge of $1.
We will be discussing when will Cardano reach $1. How will it benefit the investors? We will also look at the future predictions of Cardano. Will it be safe to invest in Cardano or not? So, without time let’s start.
What Is Cardano?
Cardano is one of the first world’s peer-reviewed decentralized blockchain networks. The native cryptocurrency is known as ADA which runs on this network. This crypto was created by ex- Ethereum co-founder Charles Hoskinson. It is very similar to Ethereum in many aspects. It was released in 2017. It is reported that 95% of ADA cryptos are held by Japanese people and it has a supply limit of 45 billion tokens.
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History Of Cardano
With the launch of Cardano in September 2017, ADA experienced very positive growth hitting a market cap of $600 M by 1st October 2017. After a year in 2018, the market cap of ADA reached over $33 bn. Towards the end of 2018, the market surged dropping below $0.04. In 2019, ADA reached $0.05 in January. Soon after that prices increased to $0.10 in April.
During the Covid-19 outbreak in 2020, the price increased to $0.15 till the end of July. The trading price of ADA towards the end of 2020 was $0.17. Cardano hit an all-time high of $2.4 at the beginning of 2021. The trading of ADA reached $1 after crashing in August. By the end of 2021, the trading price of ADA was $1.1. Today, its price is $0.8018.
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Overview Of Cardano
To answer the question of whether Cardano will reach $1, we will first look at the overview of Cardano.
- Cryptocurrency: Cardano
- Ticker Symbol: ADA
- Current Price: $0.8018
- Price Change (24h): $0.009001
- Market Cap: $27,082,743,457.38
- Circulating Supply: 33,674,411,552 ADA
- Trading Volume (24h): $1,041,417,104.51
- All Time high: $3.10 74
- All Time low: $0.7528
- ROI: 3610.01%
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Will Cardano Reach $1 Or Not?
The answer to this question is quite complicated. We will try to answer this question by doing some maths. Let’s find out will Cardano reach $1 or not?
The circulating supply of Cardano: 33,674,411,552 ADA.
The maximum supply of Cardano: 45 Billion ADA.
Let’s take the supply between 33 Billion and 44 Billion to get realistic results. Let’s take 40 Billion to get realistic results as circulating supply will be around this number in just five years or less.
We will multiply 40 B with $1 to get the market cap.
40,000,000,000 x 1.00 = 40,000,000,000. Market cap.
45,000,000,000 x 1.00 = 45,000,000,000. Market cap.
Market cap when it went to $3 : 33,674,411,552 x 3 = 101,023,234,656 or 1 trillion.
This is an achievable target as the economy of the US is $24 trillion.
We can see the hype in the price of Cardano tokens. To reach the target of $1, Cardano needs to grow by 121%.
We can expect Cardano to reach this price in the next 5 years or less. Cardano is drawing very fast, and it is also possible that it may reach its target in less than the expected time.
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So far, we have discussed a lot about Cardano. Not just Cardano, every other crypto is volatile. Its value keeps on changing now and then. It can reach its all-time high at any time, which is true for the all-time low, due to the recent war between Russia and Ukraine. We hope Cardano will reach $1 as soon as possible.
Keep exploring our website to know more about cryptos.
Frequently Asked Questions
Q1. Will Cardano Go To $100?
It is predicted that the price of Cardano will reach $100 in 2025 or above. However, yes it is possible for Cardano to reach $100.
Q2. Can Cardano Reach A Dollar?
It is predicted that Cardano would be worth $3.31 by 2023 and will reach $5.35 by 2025. According to predictions, the price of Cardano could reach anything between $0.92 and $5.90 in 2021! Cardano has become the fourth-largest cryptocurrency by market cap.