Cardano is a public blockchain platform. Cardano's internal cryptocurrency is called ADA. It works on the Proof-of-stake (PoS) protocol. The development of Cardano began in 2015 under the leadership of Ethereum co-founder Charles Hoskinson. Cardano was first introduced to the public in 2017.
After the launch of Cardano (ADA), it was predicted to rise to $10. But the price fell a little short of $1, and then fell below $1. The prophecy didn't come true.
In 2020, the prices of various cryptocurrencies began to gradually rise. Cardano (ADA) was predicted to rise to $2 to $3, but the price has remained in the range of a few cents. The prophecy didn't come true.
In 2021, the Bull Run began. Bitcoin rose to $60,000 and the price of Cardano (ADA) rose to just $2.9. The prophecy didn't come true.
On January 31, 2023, blockchain platform developers COTI Network, in collaboration with Input Output, released the Djed (DJED) stablecoin on the Cardano blockchain. Such news should have raised the price of Cardano (ADA), but the price only went up by a couple cents. The prophecy didn't come true.
Unlike Cardano (ADA), the price of the Djed (DJED) stablecoin is currently hovering around $1.05.
Despite unfulfilled predictions, Cardano (ADA) is among the top 10 cryptocurrencies by market capitalization. Cardano is much more than a cryptocurrency: it is a scalable and sustainable blockchain platform for running smart contracts, developed by an academic community of experts and software scientists. Cardano has many fans and they believe in this project.
By 2025, a price of $3.5 is predicted for Cardano (ADA). Will the prophecy come true?