Cardano remains with the band of altcoins controlling the bull today, maintaining considerable growth for the third consecutive day. Cardano’s strong presence in the green has inspired analysts to give predictions for the coin in the next two months that may sound too optimistic.
Cardano (ADA) in the Market Today
Like other altcoins, Cardano continues strong in the market today. As at the time of this writing, ADA is up by 2.3%. With a trading value of $0.077749 and a market capitalization of $2.016 billion, Cardano is ranked as the eight most valuable cryptocurrency.
Cardano’s positive movement has been consistent and is well supported by buyers which means that ADA could be looking to reach a stronger support level at $0.08. however, at the moment, Cardano’s support level is at $0.0730.
Price Predictions for Cardano (ADA)
As Cardano moves towards the $0.08 support level, cryptoanalysts have given their predictions as to what the value of ADA will be at the end of the year, and most of them are very optimistic about the future of Cardano.
Four months after the launch of Cardano, the virtual currency raked in gains of over 1,500%.
The price prediction of Cardano is hinged on the strides the Cardano has made in the Asian market. Before the fall this year, Cardano would be producing and positioning cryptocurrency ATMs throughout Japan.
Real-world usage of cryptocurrencies has undoubtedly led to the success and spike in prices of certain digital assets over the last couple of months, and many believe that this singular act would propel Cardano unto heights that surpasses its previous records and milestones.
While the prediction of experts’ pit Cardano up for its greatest value inclination yet, the predictions still hold on to the idea that Bitcoin would still remain the most valuable cryptocurrency in the market at the end of this year, and perhaps for a long time to come.
IronX; Another Medium for Cardano’s Growth
Another major development that has kept many optimistic about the future of Cardano is the upcoming launch of IronX, an exchange that would be using Cardano (ADA) as its base currency.
Future plans of Emurgo, the firm behind the IronX exchange suggests that it would be trading not only cryptocurrencies but a range of other assets as well. For now, the firm has announced that it would be opening for trade with direct asset exchange.
Cardano is expected to benefit immensely as the base currency of IronX when it eventually launches before the end of this year. As the base currency of the exchange, Cardano would be enjoying continuous trade of volumes relative to the size of the exchange.
In the future, being exposed to other assets used in the real world would not only support the growth of Cardano but can create an avenue for the adoption of the digital asset. The Initial Coin Offering (ICO) of IronX began on Thursday, 01 November, and is expected to run till December.