ADA price prediction: Is ADA worth buying after it became the third most developed project?
- ADA’s trading volume saw an increase of 3% in the last 24 hours.
- The token’s value also increased by 4% throughout that same span of time.
- ADA has the potential to reach much higher values.
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Cardano ADA/USD is a blockchain network that enables multiple functionalities, including smart contracts, decentralized finance, and decentralized application development.
ADA is the native cryptocurrency token that powers the Cardano blockchain, and anyone with a cryptocurrency wallet can send and receive ADA tokens.
Cardano active development as a catalyst for growth
On January 24, we covered how Cardano (ADA) dipped in value under $1 during the market crash. ADA now has a chance to break the $1 price barrier.
Cardano is one of the most actively-developed blockchain networks within the cryptocurrency industry, according to Coin98 analytics in a tweet posted on February 19, 2022.
According to the activity contributors count, Cardano currently remains in third place in regards to the number of contributions.
At the time of the announcement, Cardano had approximately 120 daily active contributors, all of which are constantly working on the development of the network.
This could be attributed to the launch of smart contracts technology for the Cardano blockchain, as more developers have, as a result of that, started to utilize the network and have released a variety of different use-cases.
These developments can contribute to the growth of the Cardano (ADA) token.
Should you buy Cardano (ADA)?
On February 21, 2022, Cardano (ADA) had a value of $0.9687.
To get a better perspective as to what kind of value point this is for the Cardano (ADA) token, we will be going over it’s all-time high point of value, alongside the performance the token showcased throughout the previous month.
The all-time high value of Cardano (ADA) was on September 2, 2021, when the token reached a value of $3.09. This means that at its ATH, the token was $2.1213 higher in value or by 219%.
Discussing the performance of the token throughout the previous month, Cardano (ADA) had its highest point of value on January 18, when It reached a value of $1.6245.
Its lowest point of value, however, was on January 24, when the token decreased to a value of $0.9668. Here, we can see that the token saw a decrease in value of $0.6577 or by 40%.
With all of this in mind, at $0.9687, ADA is a solid buy as it can reach $1.2 by the end of March 2022.