According to the forecasts of the analytical company Finder, the rate of the Cardano (ADA) cryptocurrency, which occupies the seventh place in terms of market capitalization, will reach $58 by 2030.
Despite the fact that since the beginning of the year, the Cardano cryptocurrency has been trading no higher than $1.6, and recently its rate has fallen to $1.008, the Finder analyst group believes that ADA will begin a meteoric rally in the coming years. According to their estimates, by the end of the year, the coin rate will grow by 168% and reach $2.79.
More than 10% of fintech analysts predict that this year ADA could outperform its nearest competitor XRP, moving it to lower positions in market capitalization. According to analysts, by 2025 ADA will trade at $8.18 per coin, and by 2030 it will reach $58.04.
The researchers explained that the Cardano Alonzo update allowed the network to implement the functionality of smart contracts, so more can be expected from ADA in the next eight years. On the other hand, after the activation of Alonzo, the coin rate began to decline.
Analysts could not agree on why this happened. According to them, the reasons could be a small total volume of blocked funds (TVL), the turbulent situation in the cryptocurrency market and the fact that the update is in the early stages of launch.
Cardano is often criticized for its slow rollout of important updates. To this, the developers respond that all planned updates must undergo rigorous testing before launch. Finder Development Lead Vanessa Harris called Cardano one of the few smart contract platforms that is committed to security and decentralization through a lot of research.
Bilal Hammoud, CEO of Canada’s National Digital Asset Exchange (NDAX), is also optimistic about Cardano. According to him, ADA is one of the most undervalued crypto assets, and as the network with smart contracts and DeFi stabilizes, many projects will move to the Cardano blockchain.
Recall that last week, Cardano developers introduced the CIP-35 proposal for Plutus smart contracts, aimed at speeding up transactions.