Cardano (ADA) is the sixth largest coin in the market. The cryptocurrency has amassed a huge name for itself because of its solid fundamentals. Although the crypto market has been tumbling downwards, the short downside moves do not dictate the long-term trajectory of cryptocurrencies which is why ADA coin is expected to be going upwards in the medium to long term. Currently, the cryptocurrency showed some positive movements as the token moved up by 6% during the past twenty-four hours. While the downtrend has yet to be broken by major upside moves, the current price performance may indicate towards a recovery. At the time of publication, Cardano stood at $1.10 apiece.
What has 2022 in store for Cardano?
Cardano has come a long way and it expects to go even longer in 2022 as the team has planned various developments for the year which will help propel ADA coin upwards. The network operates with the principles of adoption, legislation & commercial standards, community, stakeholder accountability, and partnerships. The network will be going full-force on achieving progress with respect to each principle.
Cardano will be working towards educating its community to achieve wider adoption and will also be engaging with academic and non-blockchain industries. The network’s Developer Portal will continue to equip developers for further innovation. Moreover, it also aims on working close with the regulators to ensure a bright future for the crypto industry. One of the major aims of the network is to poise it as the solution to Environmental, Social and Governance problems throughout the world. Currently, nearly 200 projects are operating Cardano and the number is expected to grow significantly as the network achieves its goals.
Can ADA reach $5 by the end of 2022?
Unfortunately, $5 by the end of the year does not seem realistic despite the various developments going on in the network which will fuel the bullish momentum of ADA coin. Various predictions place Cardano on modest bullish trends but nowhere near $5. According to the estimates of Wallet Investor, the coin is expected to be operating at a price level of $2.56 in a year’s time while the five-year projection places it at $8.51. Digital Coin Price’s projections also show that achieving $5 in just 11 months may not be possible as it estimates the price by 2023 to be at $1.73.
