Cardano Price Forecast – Can ADA Make a New All-Time High This Year?
Cardano price continues to wallow in the murky waters of the crypto winter about a year after posting an impressive show to its all-time of $3.09. If the current retracement at $0.36 carries on, ADA could broadcast a 90% correction from its historical high.
However, robust support between $0.30 and $0.35 will likely come in handy and avert a potential seller-only field day. While such a move would be a major setback, it is doubtful that it will happen, especially with ADA having grown to a noticeable cryptocurrency ecosystem compared to August last year when it tagged $3.09.
On the bright side, Cardano is closer to its floor price now than ever since the rains started beating the crypto market in November 2021. Furthermore, the extremely oversold conditions the smart contracts token deals with negates the idea of a continued retracement.
That said, Cardano price prediction might not be as outlandish as everyone would hope, yet it could certainly make a new all-time high this year.
The IOHK (Input Output Hongkong), the organization that is tasked with building and maintaining the Cardano blockchain, has been busy working on what could be termed revolutionary DeFi (decentralized finance) tech solutions.
Cardano recently achieved another milestone with the release of the Vasil upgrade. According to Charles Hoskinson, founder of the network, this software upgrade focuses on scaling the blockchain.
The Vasil Upgrade saw the Cardano protocol reach a larger network capacity – supported by lower transaction fees and higher throughput. Furthermore, Cardano is grinding toward another upgrade dubbed Voltaire – which will introduce governance standards.
Cardano’s focus on decentralization sets it up for the front-row role in blockchain
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