Poll Finder: Cardano (ADA) Potentially Breaks US$58 Per Coin

JAKARTA – Crypto Cardano (ADA) is predicted to experience a price increase of 168 percent by the end of 2022. This is the result of a poll of analysts conducted by comparison site Finder. The price of ADA is predicted to reach US$58 per coin by 2030.

Reporting from Bitcoin.com News, Cardano's future is bright according to a poll created by Finder. In a recent Cardano-centric report, a panel of analysts estimated that along with the activation of its smart-contract, the ADA cryptocurrency would reach a price of 58 dollars by 2030. The poll also predicts that Cardano will end the year at a price of 2.72 US dollars per year. coin, jumped more than 160 percent.

One of Cardano's biggest backers on the panel, Permission's chief product officer, Vanessa Harris, believes the currency could hit $3 this year. He explained his opinion, stating that Ada is one of the few smart-contract platforms that is supported by formal methods based on peer-reviewed research.

“[Cardano is] one of the few smart-contract platforms that has put security, truth [and] decentralization at its core, backed by formal methods and peer-reviewed research.”

Although Cardano has been criticized for its slow progress in incorporating new features and functionality into its codebase, Harris believes this will help the currency be adopted by nation-states and non-governmental organizations due to its resilience.

However, not all experts consulted are equally bullish. Among those who rated ADA as bearish were CEO of Balthazar NFT Gaming, John Stefanidis, and investor Veronica Mihai. Stefanidis sees Cardano's price drop in 2022 due to "lack of execution and poor technology." Mihai also thinks that the price of cardano will drop in the next ten years.

“Unless they achieve great technological advancements and a significant user base, it may suffer the same fate as most POS coins,” said Mihai.

Cardano still has a long way to go

Cardano, launched in 2017, has recently started integrating smart-contracts into its code. ADA's smart-contract hard fork, called Alonzo, was implemented last year and hopes to bring critical DeFi applications into the ecosystem. However, some argue that the cryptocurrency has failed, comparatively, to accumulate significant total locked-in value (TVL) behind available DeFi platforms.

This is one of the factors the panel found relevant in terms of the drop in the price of the cardano after the Alonzo hard fork. 33 percent of panelists say this is a factor in the price action so far. Others have also attributed this to general market volatility and also still in the early stages after the update.