ADA Price Prediction 2023: Will Cardano Hit its All-Time High in 2023?

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Cardano has been able to grab the attention of crypto investors and analysts alike in the last few days. Its price action, recent upgrades and developments have made it become a member of numerous ‘top cryptos for 2023’ lists. However, when it comes to its price future in 2023, there lie certain questions about how viable is it going to be. ADA investors have seen the best and the worst that crypto has to provide. However, 2023 might just be a little different.

Let us look at Cardano’s price prediction for 2023, and how there’s another recent crypto project popping up on the scene that can be added to many investors’ portfolios.

All You Need To Know About Cardano (ADA)

Founded by Ethereum co-founder Charles Hoskinson, Cardano is a crypto project with its native token ADA at the centre of it. It is a proof-of-stake (POS) crypto token that powers the Cardano network, which is in some ways similar to Ethereum, and it directly competes with it.

The team behind Cardano spent 4+ years in development, looking to solve issues pertaining to cryptocurrencies, such as latency, security, and decentralization-related issues. Just like Ethereum, Cardano’s primary use cases revolve around staking on the network, delegating and transferring ADA for various use cases within the Cardano ecosystem.

It has seen a long list of upgrades in recent years. One of the most impactful upgrades is considered to be Cardano’s Alonzo Purple upgrade. It brought a massive change in smart contracts and has opened the doors for NFT, revolutionizing the project. Back in May, it reached another milestone when it had 100 million active wallets, and it has doubled since to 200 million. It has also come up with Hydra, which is a layer-2 scaling solution for Cardano and helps push the network for commercial use.

Cardano’s Recent Performance

The prices of Cardano have been seeing some recent upticks in the past few days. This cryptocurrency has been able to display some notable market strength in recent days, since the beginning of 2023. Its price has been a topic of discussion amongst crypto investors due to the recent rally it has shown in the last few days.

As of 12th January 2023, ADA’s price has returned 35% of its value already to its investors. At the time of writing, ADA is trading at the $0.35 level. This comes with a market cap of more than $12.26 billion, and a circulating supply of around 34.55 billion ADA. The Relative Strength Index for Cardano seems to show promising signals amidst the recent surge in the crypto’s price levels. As per one of the indicators, ADA is in the overbought territory, which shows a direct interest from swing trading bulls. The volume indicator further supports the overall bullish notion about Cardano.

Cardano’s Price History

The price history of Cardano has always remained somewhat in trend with the market conditions. ADA, the native cryptocurrency of Cardano was launched in 2017, following a public sale of 25.9 billion ADA tokens, that started in September 2015. This was also followed by a launch of 5.2 billion more tokens among three separate entities that market and develop the Cardano protocol.

It reached its all-time high of $1.31 in 2017’s crypto bull run. However, the run ended shortly in 2018, as the price fell to a low of $0.02. Eventually, after two years, the price of Cardano returned to above $1.31. Supported by a new bull cycle, in early 2021 ADA continued to climb and hit $2.46 in mid-May 2021. ADA further reached its all-time high in September 2021 of $3.10.

Cardano Price Prediction

Predicting accurate prices for any cryptocurrency is quite a difficult job, due to the high degrees of volatility in the crypto assets markets. According to our expert price prediction, for the next few years, the digital token is expected to gain some positive price momentum. However, how Cardano responds, depends majorly on the way the crypto market behaves in 2023 and beyond as well.

Taking a look at the price action of the cryptocurrency, if the coin reflects bearish momentum for a long, it might face some temporary correction up to its previous support price of $0.13. Hence, for the year 2023, the coin might trade and stay between a range of $0.20 to $1.97, with a minimum price of $0.20, and a maximum price of $1.97, with an average value of $1.09. It is expected to breach the $1 mark somewhere in the middle of the year in May or June.

Coming to 2024, if the crypto performs exceptionally well, the expected range for Cardano can say to be somewhere in the range of $1.73 and $3.50.

Is FightOut A Great Crypto For 2023?

Amidst all the talks going on around Cardano and the rest of the crypto’s future due to a very tumultuous 2022, there lies a question about how the overall crypto market might evolve in the coming days. However, the newer crypto projects have been able to evolve and come up with ideas that aren’t just innovative but put the user experience and functionality at the forefront.

One such crypto project is FightOut. It is a Move-To-Earn fitness app and gym chain that focuses on gamifying the increasingly popular fitness lifestyle. The users are rewarded for completing their workouts and challenges, earning badges, and growing the community.

With the help of the ongoing presale, and Initial Coin Offering (ICO), the project is aiming to build a fitness app with web3 components integrated into it. Moreover, there will also be physical gyms with Move-To-Earn progress tracking. The project is currently at its first presale stage, which is aiming to raise $5 million and has already crossed the $2 million mark in a few days. Users get access to a state-of-the-art fitness app, and apart from it, they have a choice of training from the gym, home, or anywhere else. The Avatars within the platforms are soul-bound NFTs, along with rewards for completing workouts, and challenges.

What makes it even better is the roadmap which is quite progressive and dynamic depending on the way it progresses further.

Conclusion: Looking Forward To a Great 2023?

Cardano is taking all the right steps to become one of the top-class cryptocurrencies out there. Its recent developments and the oncoming upgrades are a sign of the crypto project aiming in the right direction. However, when it comes to the price of ADA, it might show certain degrees of fluctuations in the coming years.

After a dismal 2022, we can predict that in 2023, the cryptocurrency might be able to provide the right value to its users along with robust returns on investment. With a $12 billion market valuation, it is yet to be seen how it plans on developing further. But, one thing that’s pretty certain is that as the world moves to a more decentralized economy, Cardano is sitting right where it should be.

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