Cardano (ADA) – A Forecast for 2022

- 7 minute read

Kevin van der Linden
Digital Marketeer
Kevin van der Linden

In the series "A Forecast for 2022", we take a closer look at some of the largest and best-known cryptocurrencies with regard to their price and expectations for the coming year. This week, we look at the price of Cardano, one of the largest cryptocurrencies in terms of market cap. In this article, we analyse the price history and find out what you can expect from Cardano in 2022.


Cardano forecast 2022

Table of Contents

  1. What is Cardano?
  2. Cardano Price Chart
  3. Cardano Price History
  4. Cardano Roadmap 2022
  5. What to expect in 2022

What is Cardano?

Cardano is a decentralised proof-of-stake (PoS) blockchain platform. PoS allows users of the network to generate a passive income. On Cardano's network, this is 6% per year, and all you have to do is hold Cardano's coin, ADA, in your wallet. The blockchain recently supports smart contracts. Thanks to Cardano's smart contracts, various decentralized applications (dApps) can be built on Cardano's network.

In addition to the many dApps that Cardano intends to facilitate in the future, they are also focusing heavily on improving scalability, interoperability and sustainability. With scalability, Cardano focuses on scaling up the transactions that can be carried out simultaneously on their network. The aim is to be able to scale up infinitely, so that in the future Cardano can handle up to millions of transactions per second, at the lowest possible transaction costs.

With Interoperability, Cardano focuses on successful communication between the thousands of blockchains that currently exist and will continue to be added. In the future, Cardano hopes to use sidechains to enable all blockchains to communicate successfully with each other.

In terms of sustainability, Cardano wants to continue to provide crypto projects that launch on the network with development funding. It happens regularly that a crypto project is started, but is not further funded, causing the project to stagnate. By means of a treasury that is supplemented by transactions on the Cardano network, projects can be financed.

Learn everything about Cardano here

Cardano Price Chart


Cryptocurrency Prices by Coinlib


Cardano Price History

The price history of Cardano starts from 2017, because that is when ADA was first traded. Within a short period of time, Cardano has taken a position at the top of the cryptocurrencies. Below is an analysis of the price of ADA over years.

Cardano price 2017

Cardano landed on the crypto market during 2017. The cryptocurrency industry was in that time in the middle of a bull run. Many cryptocurrencies rose by hundreds to thousands of percent during the year. Cardano, which was only traded in October that year, also experienced an enormous price increase. Within two months, the price of 1 ADA rose from less than 0.03 dollar cents to 1.15 dollars.

Cardano price 2018

On January 6, 2018, ADA was worth an incredible $1.15. Investors thought that the cryptocurrency market was indestructible and that it would rise even further. This turned out to be a huge misconception. The crypto market collapsed like a house of cards and an enormous correction was also suffered by ADA. During 2018, Cardano lost 95% of its value. At the end of the year, its value was dangling around $0.02 cents, the same value at which ADA first traded at the end of 2017.

Cardano price 2019

2019 was a fairly irrelevant year for Cardano in terms of price. ADA's value moved between 0.03 and 0.10 dollar cents during the year. These are relatively very low fluctuations in the volatile cryptocurrency market.

Cardano price 2020

In 2020, the situation changed for Cardano, and the entire cryptocurrency market. Sentiment around crypto started to pick up and slowly people started to invest again.

In March that year, ADA's growth was briefly held back (by covid-19) but the market soon picked up again. ADA was worth more than 10 cents again for the first time in two years. ADA closed its price at 18 cents.

Cardano price 2021

At the end of 2020, sentiment for another bull run began to emerge. The market recovered from the covid-19 crash in March much faster than expected. This "bullish" sentiment converted into a true price increase of Cardano in 2021. The price of ADA rose from $0.17 cents to over $2.30 in a few months. In May of 2021, Cardano, like the rest of the market, underwent a correction. It has since recovered and Cardano now has an all-time high of above $3.

What else can we expect from the price of Cardano in the remainder of 2021? The last two months of 2021 will mainly depend on what Bitcoin will do. The bull run is still going on, but if Bitcoin crashes, other cryptocurrencies will crash soon after. Cardano is likely to be no exception. But if Bitcoin goes towards $100,000, it will most likely have a very positive result on Cardano and it's value could reach new highs.

Cardano Roadmap 2022

Cardano's share price for 2022 depends on various factors. Fundamental factors are very important. Some of the most important fundamental factors for Cardano are as follows:

Cardano NFT's

Thanks to the implementation of smart contracts on Cardano's blockchain, it has become possible to trade non-fungible tokens (NFTs) on the Cardano network. NFTs are the hype in the crypto world and many dancers have been waiting anxiously for this.

At the moment, Ethereum still has by far the largest NFT market, with a very diverse range of NFTs. The major drawback to trading NFTs on the Ethereum network is the high gas prices, which cause transactions to incur huge additional costs. Because of this, NFTs on the Ethereum network are not accessible to everyone.

Cardano recently launched its own NFT marketplace. There are already many NFt's on the market. The transaction costs on the Cardano network are much lower. When the NFT market on the Cardano network catches on, this could have a very positive effect on Cardano's price.

Cardano's Roadmap developments

The Cardano roadmap is a summary of Cardano's development and consists of five phases, named Byron, Shelley, Goguen, Basho and Voltaire. The phases are completed in chronological order and all ensure that Cardano's blockchain continues to improve.

The most recent phase, Goguen, was completed last August. During 2021, several updates were released that fell under the Goguen phase. These updates have repeatedly shown to have a positive effect on Cardano's share price. In particular, the second-to-last update called Alonzo had a major effect on the price. Cardano reached a new all-time high around that time and the ADA coin was worth around $3.

During 2022, Cardano will be working on the development of the fourth phase, Basho. Basho aims to add sidechains to Cardano to scale it even further. As a result, the main blockchain will be split into a number of smaller chains called shards.

The upgrades to the Basho stage will be launched mostly in the next year. Given Cardano's history, it is likely that these upgrades will have a positive effect on the price of ADA. Note that in a bear market, it is less likely that a major upgrade will have a positive effect on the price.

Community

Cardano believes it is important to have a strong community, so they put a lot of energy into growing the ever-expanding community. On Cardano's Reddit page, r/cardano, almost 650 thousand people are connected. The community on that platform discusses and communicates all things related to Cardano.



The fact that Charles Hoskinson, the founder of Cardano, frequently communicates with his followers via YouTube streaming, also shows that the community is of great importance to Cardano. In these streams, he discusses a variety of subjects and answers questions from the viewers.

Cardano's huge community has caused the price to rise several times in the past. Everywhere on the internet you can find positive statements and news about Cardano. It is therefore important for Cardano to continue to meet the needs of their community.

Cardano will therefore have to make real strides with the development of their blockchain. In fact, last year there was slight irritation among the community because Cardano had once again delayed a number of updates, thus delaying the completion of the Goguen phase.

The crypto market

Like all cryptocurrencies, Cardano is also dependent on the crypto market. Should the crypto industry enter a bear market, Cardano will sooner or later participate in this financial malaise, if the price history of 2018 and 2019 is to be believed. In these years, ADA's share price fell to record lows, as did the entire crypto market.

What to expect in 2022

Cardano has become one of the largest cryptocurrencies in the world in terms of market value in 2021. In addition, their blockchain technology is in full development, upgrades are regularly released that greatly improve blockchain, and the NFT marketplace is poised for full growth in 2022. All these events lead to different price predictions from various people and institutions.

Watcher.Guru

Watcher Guru is a body that reports on various cryptocurrencies and is frequently active on Twitter and Instagram. Watcher Guru makes continuous price predictions for cryptocurrencies. According to Watcher.Guru, Cardano's next price target is $6 USD. It is expected to reach this amount in 2022. This means that Cardano still has to go about times three to reach that goal.

CoinQuora

CoinQuora is a body that also does reporting on various financial markets, including the crypto market. They are a lot less subdued about Cardano's expected price in 2022. QoinQuora expects the price of ADA could end up between $12 and $15 during the coming year.

CryptoMichNL

Michaël van de Poppe AKA CryptoMichNL is a Dutch full time crypto trader with almost 500k followers on Twitter. He tries to educate his followers with technical analysis. Michaël expects the bull cycle will not end this year but only in but only in 2022/2023. His expectation for Cardano is that it is going to end between $10-$20.

Want to know more about Cardano?

Have a look on our Cardano overview page.