A panel of cryptocurrency industry experts has predicted that the price of Cardano ($ADA) will explode to $2.93 by 2025, and to $6.53 by 2030, although experts believe that by the end of the year, the cryptocurrency will trade at just $0.63.
At the time of writing, the cryptocurrency is trading at $0.43, according to CryptoCompare data. If the cryptocurrency experts polled by Finder are correct, the cryptocurrency could still see upside above 40% by the end of the year.
The experts’ predictions are notably far below the findings of a similar Finder survey conducted in January, where experts predicted Cardano would end the year at $2.79 on average, and saw it go as high as $58 by 2030.
Among the surveyed experts is Paul Levy, a University of Brighton senior lecturer who believes ADA will be worth just $0.5 by the end of the year, but $5 by the end of 2025. Levy was quoted saying:
As a native token of a proof-of-stake blockchain with some firm inventor foundations, there is still a lot of potential in Cardano to challenge and even overtake Ethereum. Proof of stake is likely the future of most if not all crypto in the future.
The expert added that despite ADA’s recent volatility, it is “well placed.” Similarly, CoinFlip founder and chairman Daniel Polotsky believes ADA will end the year at $0.37, Polotsky is part of the 48% of respondents who believe it’s time to sell ADA, despite its growing popularity.
Per his words, ADA’s price and hype are “way too high given its relatively low total value locked compared to its competitors.” The expert added that while Cardano was founded in 2015 and launched in 2017 it lost its early-mover advantage to competitors who “built at a faster pace.”
Finder runs quarterly surveys with cryptocurrency experts to find their thoughts on the industry. It polled 53 specialists on Cardano’s price, and found that 26% believe it’s time to hold, and 26% believe it’s a good time to buy ADA.
Hal of the panel, 51%, believe that the upcoming Vasil hard fork, which is expected to deliver a “massive performance improvement” to the cryptocurrency’s network, will increase Cardano’s utility, with 37% expecting a price rise because of it. 17% believe that this rise will be short-lived, while 20% see long-term gains from the hard fork.
Swinburne University of Technology director Dr. Dimitrios Salampasis noted that the hard fork will bring efficiency and optimization to the network, and “boost more innovative projects utilizing smart contracts.”
17% of Finder’s panel notably believes the hard fork will lead to a price drop as some think that the hard fork will be defunct once Ethereum’s “sharding” happens.
As CryptoGlobe reported, an artificial intelligence-based price prediction model is suggesting that the price of Cardano’s native token ADA is going to surge to trade at $2.9 by September of this year, representing a significant increase from the cryptocurrency’s current price.
Recently, Grayscale Investments has maintained both ADA and SOL as the top holdings in its fund offering investors exposure to smart contract blockchain networks while excluding Ethereum.
According to data from the Grayscale Smart Contract Platform ex Ethereum Fund (GSCPxE), its Cardano allocation is now 30.7%, meaning each share of the fund has 4.4 ADA on it, while its Solana allocation is 26.01%, representing 0.044 SOL per share.
Featured image via Unsplash
Source: Read Full Article