Cardano price prediction: can ADA reach $2 after its latest developments?

By: Milko Trajcevski
Milko Trajcevski
Milko is a Financial Analyst covering the cryptocurrency markets. He started his career trading fiat currencies before immersing himself… read more.
on Jan 11, 2022
Updated: Jun 1, 2022
  • ADA has seen an increase in its trading volume by 41%.
  • Its market cap also saw an increase of 2.53%.
  • This is a solid time to buy the ADA cryptocurrency token.

Cardano ADA/USD is a Proof-of-Stake (PoS) based blockchain platform that is based on peer-reviewed research and is developed through evidence-based methods.

ADA is the native cryptocurrency token that powers the network

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

The Cardano IDO LaunchPad “Coollaunch” as a catalyst for growth

On January 10, we discussed how Cardano achieved its goal of planting more than 1 million trees.

The Coollaunch team made an announcement on January 10 that they launched on the Cardano ecosystem.

Funding the project and securing running funds is one of the hardest barriers that users face, and this is something Coollaunch aims to simplify. 

The Coollaunch.io IDO Launchpad supports next-generation ideas, NFTs, and metaverse projects through a fair as well as the decentralized manner through the utilization of the Cardano ecosystem. The seed sale went live on January 11, 2022, at 6 PM GMT. 

Additionally, the number of COOL tokens in a user’s wallet determines their IDO allocation weight, but users have to be involved in voting on the protocol governance concepts.

All of this contributes to the growth of the Cardano (ADA) ecosystem, and as a result, can contribute to the growth of the ADA token in terms of its value.

Should you buy Cardano (ADA)?

On January 10, Cardano (ADA) had a value of $1.15.

To get a better perspective as to what kind of value point this is for the ADA token, we will go over its all-time high value alongside its recent performance.

The all-time high value of the ADA token was on September 2, 2021, when the token reached a value of $3.09. Here, we can see that at its all-time high value, the token was $1.94 higher in value or by 168%.

When we look at the performance of the ADA token in terms of December, it saw its highest point of value on December 2 when it reached a value of $1.75.

Its lowest point of value, however, was on December 17, when the token dropped in value to $1.20.

This gives us an indication that the token decreased in value by $0.55 or by 31%. 

In other words, at $1.15, ADA is at a solid point in time for purchasing as it has the potential to reach $2 by the end of January.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

  1. Etoro, trusted by over 13m users worldwide. Register here >
  2. Capital.com, simple, easy to use and regulated. Register here >

*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.