The cryptocurrency Cardano has emerged as one of the most promising investments of 2021. At the beginning of the year, the price of Cardano (ADA) stood at around $0.41. A couple of weeks ago, the price of ADA jumped up to its all-time high of $2.4 just before the May 19 crash. The May 19 cryptocurrency crash wiped out the price by almost half. However, Cardano has already significantly recovered from the crash. In this article, we’ll take a look at Cardano and Cardano price prediction for June.
Cardano Price Prediction: Will Cardano go up?
Crypto experts believe Cardano is one of the most undervalued cryptos of 2021. Cardano’s incoming plans to integrate smart contracts on their blockchain have the potential to make Cardano as valuable in function as Etherum. The Cardano team has been working for years to perfect their blockchain, with reputed scientists and developers taking part in the process.
Over the past couple of months, the price of Cardano was steadily rising, matching up to crypto experts opinion that this coin was undervalued. Coinpedia predicts that Cardano could reach a price of around $10 at the end of the year. The Cardano crash on May 19 slowed down the growth, but given Cardano’s reputation and recent growth pattern, the price of Cardano could go up to $3-4 by June 2021. However, readers should take these predictions with a grain of salt.
As per the Investopedia website, Cardano is a decentralised third-generation proof of stake blockchain platform. Cardano is similar in function and application to other major proof of stake blockchains such as Ethereum. However, Cardano is different from other blockchains as the developers use peer-reviewed scientific research as the building blocks for updates, to make sure any changes made are useful and scalable. ADA is the token used to pay fees and use as a form of payment on the Cardano blockchain. In the crypto community, the ADA coin is usually referred to as Cardano.
The Cardano developers are also developing a smart contracts platform that enables developers to create full enterprise-level decentralised apps (DApps). The Cardano team is also planning to deploy a governance system called Project Catalyst to manage and develop their future projects. Apart from this, Cardano already has three products ready and deployed for commercial use: Atala PRISM, Atala SCAN, and Atala Trace. These tools are used for enterprise-level solutions for identity management and supply chain tracking.