Cardano, a third-generation blockchain digital space has been quite controversial in recent years. Some people claim that it got to where it is on hype. Other's believe it can become Ethereum's big rival.
One thing is for sure: Cardano had a slow start this 2022 beginning with a price of $1.33. It has slowly bled down to $0.99 leading some to ask whether this is the end of Cardano? Here's what Finder's Predictions Report found.
Cardano is one of the top 10 coins by market cap in the crypto market. That brings a lot of attention to the project. And since Cardano has one of the most significant communities in crypto, Finder.com decided to put its panel of fintech, cryptocurrency, and NFT specialists to work in uncovering what's really occurring
Their report found something many ADA holders would find incredible. While Cardano has had a slow start, the experts expect it to reach $2.79 by the end of the year. Some may not find that news all that exciting — after all, it is roughly 10% lower than ADA's all-time high of $3.10. Yet, one-tenth of the panel believes that Cardano is one of the best crypto buys for the future.
The panel of experts also believes Cardano's price will reach $8.18 by 2025. And if that's not enough, they also think ADA will skyrocket to $58 by 2030. If the prediction meets reality, we might have a 43X opportunity in front of us.
But why has Cardano been falling so much if it has so much potential? Well, let's see what experts think.
What The Experts Think
The panel is split three ways when discussing ADA's price. One-third of the poll respondents believe that Cardano is affected by general market volatility and instability. Another third believes that the Alonzo upgrade has not yet impacted the price. The final third feels that the lack of market share in total value locked (TVL) has driven ADA's price down
Some of the experts also mentioned that dApp exploits could have been the reason for the drop. However, there are reasons to be bullish about Cardano. One of the most bullish people on ADA is Justin Hartzman, CEO and co-founder of CoinSmart.
Hartzman is part of the third that believes we're still in the early stages post-update. In that way, Hartzman recognizes the Cardano team has been infamously slow with developments. Yet, he thinks people should look at what has been done so far.
He also cites that ADA has completely decentralized block production. On top of that, he says they have done an outstanding job in Africa. Finally, he claims that Cardano will thrive in the future.
NDAX CEO Bilal Hammoud is one of the other panelists who believe ADA is underrated.
According to Hammond, Cardano is one of the most underrated assets. He says that once the smart contract and DeFi of ADA stabilizes, we should see many projects migrate to it.
Paul Levy, a senior lecturer at the University of Brighton, also sees the potential of ADA. Levy says Cardano is showing strong growth potential with a potential innovation-based foundation.
Vanessa Harris, chief product officer at Permission, is also bullish on ADA's future. According to Harris, ADA is one of the few smart contract platforms that have placed security, correctness, and decentralization at their core. On top of that, she says ADA's platform is backed by formal methods and peer-reviewed research.
For Harris, this means two things. On the one hand, it means that Cardano is moving more deliberately in the short term. Yet, this resistance should support adoption in the long term — not only by people in the crypto space but also by nation-states and NGOs. Like Hartzman, Harris also said that we already see this adoption in Ethiopia and Tanzania.
Will this prediction come to fruition? It's hard to know. No one can see the future. But if we follow the trend and Cardano delivers what it promised, ADA should see the light at the end of the tunnel.
