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Cardano as a network is still evolving and enhancing its blockchain. Its prices rose significantly during the last bullrun. However, prices took a sharp dive back lower with the recent market crash. But that doesn’t mean that Cardano doesn’t have massive potential. Can Cardano reach 100 $ in the next bullrun?
In this article, we take a look at the potential of Cardano in this crypto cycle and see if the ADA token can still rise to a price of $100 in the next bull market.
What is Cardano?
Cardano (ADA) is a blockchain network characterized by a combination of scalability, security and decentralization. Cardano is considered one of the most technically mature blockchains on the market. Above all, the scientific approach to the further development of the blockchain ensures that the network has extreme growth potential.
Cardano’s network token is called ADA. Cardano is considered to be one of the biggest competitors for Ethereum because the blockchain can run smart contracts and is partially ahead of Ethereum in many areas such as efficiency and security. In the past, Cardano was often called the “Ethereum killer”.
The further development of Cardano takes place in different phases, which we present in more detail in our article on the Cardano roadmap. The further development runs in 5 phases. Scalability is currently being developed as part of the Basho phase.
How many Cardano Coins are there?
There is a total of 45 Billion Cardano tokens that can ever be created. At the time of writing this article, there are 35.9 Billion Cardano in circulation.
Cardano Smart Contracts – What are they About?
The blockchain platform has been able to create smart contracts ever since the Cardano (ADA) network was updated in September 2021. Cardano is now a step closer to actually being the “Ethereum Killer” thanks to the improvement known as Cardano Alonzo.
Since its 2017 inception, the Cardano blockchain has been dubbed the “Ethereum Killer” on the grounds that it enhances the Ethereum infrastructure through improvements to fees, scalability, and transaction speed and throughput. With the introduction of its own smart contract functionality, Cardano is now pressing ahead with Ethereum.
How did Cardano Perform in 2022?
The ADA price saw a massive increase in 2021. In September 2021, the ADA price rose to an all-time high of over 3 dollars. The ADA was only worth $0.10 before the bull market. The price rose massively, especially in the third quarter of 2021, as the introduction of smart contracts took place with the Goguen update.
With the new smart contracts, Cardano could become the basis of dApps, which drove the price up. After rallying above $3 in September, the price saw a sharper drop in the fourth quarter of 2021. At the turn of the year, the ADA rate was still at $1.37. The bear market caused the price to drop more than half from its all-time high.
In 2022, the fall in ADA continued. After further falls in the first half of 2022, ADA price saw a low of $0.41 in mid-July. After that, the price was able to recover. Since then, ADA price has been fluctuating and struggling to regain its momentum. During September 2024, the Cardano price is now trading at $0.35. But can the Cardano price actually rise to $100 in the next few years?
Why is Cardano Dropping?
In September 2021, the ADA price surged to $3 due to the introduction of smart contracts. With that, Cardano saw a rise of 30x from its low of $0.10 in the previous bear market. But after that, we saw massive losses. What were the reasons for this and can Cardano recover in the future and possibly rise to $100?
Cardano price started falling at a time when many other coins were rising. This was partly due to a rebound after the massive rally to $3. On the other hand, investors’ attention switched more and more to other networks such as Solana and Avalanche. These networks are characterized above all by an extremely high transaction speed.
Especially in terms of speed, Cardano has not yet reached the level of these modern blockchains. Due to the high scalability of the Solana blockchain in particular, it was extremely popular in the fourth quarter. Cardano, on the other hand, lost some energy.
The bear market then set in from November, so that the fall in the ADA rate continued over the turn of the year and in the first half of 2022. Only in the third quarter of 2022 did the prices of the cryptocurrencies and the ADA price stabilize.
Typically, these increases tend to decline more and more in subsequent bull markets. In the next bull market, the Cardano price could only rise by a factor of 20 from its low to its all-time high. If the low in the bear market is now $0.40, the Cardano price would only go up to $8 in the next bull market.
However, the Cardano price can also rise more sharply under certain conditions. Should Cardano continue its long-term evolution and become a more efficient blockchain than Ethereum, Solana or Avalanche, the price could actually explode. Should Cardano become the better alternative to Ethereum in the future, the network would grow massively, which can also bring the value of the ADA token to $100.
Can Cardano reach 100 $?
While not impossible for Cardano to surge above $100 in the next bull market, it is highly unlikely. Because the increase within a cycle would under normal circumstances and compared to past increases be significantly too high. Only a massive explosion of the Cardano network and the detachment of Ethereum would be a possibility that Cardano can climb to $100 in the next 2-3 years.
However, a rise to $100 after the next bull market is more likely. This bull market would take place after Bitcoin Halving 2028. So we could still see massive increases in most major cryptocurrencies in 2029 and 2030. Until then, Cardano also has more time to become the largest smart contract platform.
Until then, the Cardano price could rise to $10 in the next bull market, which is much more realistic.
Is an investment in Cardano worth it?
Despite the good Cardano forecasts, there is still a certain risk when investing in cryptocurrencies. But Cardano is one of the cryptocurrencies that can actually increase in value massively in the next 5-10 years. A Cardano price at $100 is by no means impossible.
An investment in Cardano should be based on a long-term strategy. In the bear market, the Cardano price rarely rises. Therefore, you should regularly invest in the ADA token if you are convinced of the project and then wait for the next bull market.