Did you know that Cardano’s price jumped a huge 116% after the Alonzo hard fork in August 2021? This big step was not just important for ADA’s price. It also started smart contract functionality. In fact, over 100 smart contracts were set up in less than a day1.
On CoinMarketCap, you can see live updates on Cardano ADA’s price, market trends, and in-depth analytics. These are key for smart investment choices. Cardano’s user base and developer interest have exploded. The number of wallets grew to over 3 million by February 2022. That’s an amazing 1,200% jump from December 20201. For checking ADA price or exploring ADA market data, CoinMarketCap Cardano is the place to be.
Key Takeaways
- Cardano experienced a 116% surge in price after the Alonzo hard fork, marking a significant milestone1.
- Smart contract functionality led to the deployment of over 100 contracts within 24 hours post-launch1.
- Cardano wallets increased by 1,200%, reaching over 3 million by February 20221.
- Get real-time ADA price and market data through CoinMarketCap Cardano.
- CoinMarketCap offers comprehensive analytics for informed ADA investment decisions.
Introduction to Cardano and Its Purpose
Cardano is a groundbreaking blockchain aimed at transforming the world with its proof-of-stake system. It promotes decentralization, enhanced security, and transparency. These features offer vast benefits across various sectors and communities.
It stands as the fifth-largest digital asset, guided by the Cardano Foundation, Emurgo, and IOHK2. The goal is to empower individuals and foster more equitable, democratic systems2.
Ouroboros Praos, its proof-of-stake mechanism, facilitates efficient and secure transactions through epochs3. In 2017, Cardano achieved a milestone by handling 257 transactions per second3.
Cardano offers a 4.5% interest rate for staking ADA, presenting a rewarding venture for users2. It progresses through five phases – Byron, Shelley, Goguen, Basho, and Voltaire. Each phase aims at evolving the network further23.
To show Cardano’s potential, consider how it compares to others in transaction speed:
| Platform | Transactions Per Second (TPS) | Remarks |
|---|---|---|
| Bitcoin | 4.6 | Slower compared to others |
| Ethereum 1.0 | 15-20 | Moderate, with future upgrades planned |
| Cardano | 257 (test in 2017) | Higher transaction capability |
| Hydra Protocol (Cardano) | Over 1 million | Once developed, will significantly enhance transactional speed |
Cardano is vital in the crypto world, inspiring innovation and equity. The platform aims for a fairer society and global betterment.
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What Is Cardano (ADA)
Cardano stands out as a leading blockchain project, known for its unique approach and groundbreaking ideas. It aims to build a scalable, interoperable, and enduring platform for digital currencies.
Founding and Naming
The journey of Cardano founding began in 2017 with Charles Hoskinson, co-founder of Ethereum, at the helm. It’s named after Gerolamo Cardano, a famous mathematician. Its token, ADA, is named after Ada Lovelace, seen as the first computer programmer. ADA token holders get to vote on changes to the network.
Project Goals and Vision
Cardano’s big dream is to build a versatile and scalable platform for decentralized apps and smart contracts. It wants to tackle big issues in blockchain technology, like scalability and working together. At launch, 31 billion ADA tokens were released, with 26 billion sold to investors and 5 billion for its founding organizations: Cardano Foundation, IOHK, and Emurgo4.
Starting at $0.025 in 2017, ADA’s price journey has been a rollercoaster. It briefly hit $1.18 in 2018, then fell. In 2021, it soared to a record $2.96 before settling at around $0.35 in 20224. As of mid-October 2022, Cardano is the 8th largest crypto by market cap4.
Cardano is on a mission to evolve with updates like the Basho for better scalability and the Vasil hard fork. These improvements are set to lower fees and add new features4. It’s Cardano’s way of growing through careful, peer-reviewed changes, marking its spot in blockchain technology.
Understanding Cardano CoinMarketCap
CoinMarketCap offers a detailed look at the Cardano (ADA) market. It includes the Cardano price chart, ADA market cap, and trading volume. Investors can monitor ADA’s price changes and market trends in real time.
The ADA market cap is a key feature on CoinMarketCap. It shows the total value of all circulating Cardano coins. This helps assess Cardano’s economic strength and its position in the crypto market.
The Cardano price chart is crucial for investors and traders. It displays past price movements. This allows users to study previous trends and make more informed future investment choices.
Trading volume is another vital data point on CoinMarketCap. It indicates how much ADA was traded within a certain timeframe. High trading volume often means strong interest in Cardano and potential for price changes.
CoinMarketCap also provides in-depth on-chain data for Cardano transactions. For example, in a 2017 test, Cardano managed up to 257 transactions per second (TPS)3. This outperforms Bitcoin’s 4.6 TPS and Ethereum’s 15-20 TPS3.
Additionally, CoinMarketCap shows how many exchanges list Cardano. This highlights ADA’s acceptance and availability on various platforms5. It also displays trading volumes in spot and derivative markets for Cardano5.
In conclusion, CoinMarketCap’s range of features, from the Cardano price chart to trading volume analysis, is essential for anyone interested in ADA’s market activity.
Cardano Price Prediction
Let’s dive into how Cardano’s price might change. We look at its history and make future guesses. CoinMarketCap is a great tool for understanding how ADA’s price moves.
Historical Price Performance
Cardano (ADA) has had its ups and downs. After the Alonzo update in 2021, ADA’s price jumped 116%, reaching $3.10 on September 2, 20216. But, it once fell to $0.01735 on October 2, 20176. Right now, ADA’s price is $0.32646, with a 24-hour volume of $413,943,118. It went up 1.59% today and 2.81% this week7
Future Price Projections
What’s next for ADA? Some think it may climb between $0.4472 and $0.8197 in 20246. Others worry it could drop to $0.14426. ADA has a huge market, worth about $11.73 billion, and there are 35,769,971,256 coins out there6. Experts see its price possibly hitting $2 soon and maybe $1.6 by 2025. By 2030, it could soar to $5.76. Short-term, they guess it could be $0.34188 on September 11, 2024, and $0.323760 on September 17, 20247. But remember, crypto prices can swing wildly, shown by ADA’s 5.62% volatility rate7.
This look at ADA’s past and future shows why it’s smart to watch both. It helps investors see Cardano’s full picture, from what it’s achieved to what might come.
| Term | ADA Price | Percentage Change (%) |
|---|---|---|
| 24h | $0.340402 | 1.59% |
| 7d | $0.397274 | 16.71% |
| All Time High | $3.10 | – |
| All Time Low | $0.01735 | – |
Latest Cardano News
Cardano has been making waves in blockchain development. Its price now stands at $0.336647 per ADA with a market cap of $12.11 billion USD8. In the past 30 days, ADA’s price has increased by +1.6%8. This shows how active and engaged the Cardano community is, contributing to its growth.
In August 2021, the announcement of Cardano’s Alonzo hard fork led to an impressive 116% price jump the next month1. This update was pivotal, enabling over 100 smart contracts to go live within a day of its September launch1. It marked a significant improvement in the network’s capabilities.
By January 27, 2022, over 1,000 smart contracts were on Cardano1. Cardano wallet numbers soared to three million by February 2022, from 190,000 in December 20201. This 1,200% increase shows growing trust and interest in Cardano.
Currently, Cardano has 35.96 billion ADA tokens in circulation, with a total market cap of $15.15 billion8. There are 45.00 billion ADA tokens in total8. Despite a recent -1.44% dip in price, the blockchain’s strategic partnerships show its strength8.
Developers flock to Cardano for its strong features, contributing over 50 updates daily to its Github1. It outpaces even established blockchains like Solana. This highlights Cardano’s dedication to innovation and community effort.
Cardano faced hurdles, such as the slow start of the SundaeSwap exchange in January 20221. Still, these challenges have spurred more innovation within Cardano. Its dynamic nature keeps it at the forefront for investors and the blockchain world.
Recent Cardano Updates
Cardano has made big strides with its Cardano upgrades lately. These efforts aim to boost its blockchain. The Alonzo hard fork in August 2021 was a major event. It led to Cardano’s price jumping by 116% in the next month1. This was a big deal for the ADA community because it started smart contract features. Now, developers can build decentralized apps on Cardano.
The Alonzo upgrade’s effects were seen right away and were quite dramatic. Over 100 smart contracts were in place within a day of its release on September 12, 20211. This fast acceptance shows that developers really believe in Cardano’s setup. By January 27, 2022, Cardano had over 1,000 smart contracts1. This shows how quickly and how much the network has grown.
Another sign of Cardano’s success is the big jump in Cardano wallets. By February 2022, there were over three million wallets. That’s a 1,200% increase since December 20201. This surge shows more and more people are using ADA. Also, the network has had a lot of developer interest. Every day, there are more than 50 contributions to its system, even more than networks like Solana1.
Cardano keeps trying to make things better for users and how the network works. Even though there were some bumps, like the slow start of the SundaeSwap exchange in January 20221, the progress has been notable. The ongoing efforts to improve make Cardano a strong and scalable blockchain.
About its market standing, ADA is the fifth-largest digital currency globally2. There are 45 billion ADA tokens in all. Investors got 57.6% of them through an Initial Coin Offering (ICO), bringing in $62.2 million2. Since early 2021, the ADA token’s value has gone up by more than 1000%2. This shows investors believe in it and are using it more.
Cardano uses a special consensus method called Ouroboros-BFT. It offers better security than Proof-of-Work (PoW) chains and uses less energy2. The network is looking to adopt the Hydra protocol. This will increase its capacity to over 1 million transactions every second2. Cardano is getting ready for more growth.
Here is a summary of Cardano’s recent updates:
| Update | Date | Impact |
|---|---|---|
| Launch of Alonzo hard fork | August 2021 | Price surge by 116%1 |
| Smart contracts deployed | September 2021 | Over 100 in 24 hours1 |
| Cardano wallets milestone | February 2022 | 3 million wallets, 1,200% surge since Dec 20201 |
| Developer activity | Ongoing | 50 contributions per day on average1 |
| SundaeSwap launch | January 2022 | Sluggish launch1 |
| Total token supply | Ongoing | 45 billion ADA tokens2 |
| Token appreciation | 2021 | Over 1000%2 |
| Hydra protocol development | Upcoming | Increase throughput to over 1 million transactions per second2 |
Cardano Market Trends
Cardano (ADA) is a key player in the crypto world. Its market cap is around $12.37 billion USD, showing its importance9. In the last year, ADA’s value went up by 39.67%. This shows how much it has grown and the trust investors have in it9.
Current Market Position
ADA’s trade volume in the last 24 hours was $233.11 million USD9. Though there was a small 1.74% drop yesterday, its price has increased by 5.96% in the last week and 3.05% in the last month9. There’s a current sell signal from its technical analysis9. This hints at short-term changes based on larger crypto trends.
The total market value of ADA is $15.48 billion USD. There are 35.96 billion ADA coins in circulation from a total of 45.00 billion coins9. This info is key to understanding ADA’s market behavior and future chance. Cardano’s highest price was $3.160 USD on September 2, 2021. Its lowest was $0.017 USD on March 13, 2020, showing big price swings over time9.
Comparing Cardano with Other Cryptocurrencies
With a market cap of $12.11 billion USD, ADA ranks high among cryptocurrencies. Its community and tech progress make it popular8. Also, it’s seen a +7.15% price rise in the last week, showing it’s doing well compared to others. Its 24-hour trading volume is $197.16 million USD, showing it’s actively traded8.
The total market value potential of ADA is $15.15 billion USD. This points to its growth possibility8. It has 35.96 billion coins available, with a max of 45.00 billion coins, making its limited supply attractive to investors8. Also, its popularity rate is 79.91% on Binance, highlighting its strong market stance8.
The Unique Features of Cardano
Cardano stands out in the blockchain world for a few key reasons. One major feature is its layered architecture. This design separates how money is stored from the reasons it moves. It makes the Cardano system more secure and easy to update.
The way Cardano reaches agreement, or its consensus model, also sets it apart. It uses a system called Ouroboros Praos. This system is not only better for the environment but also speeds up transactions. In tests from 2017, it managed up to 257 transactions per second (TPS)3. This is much faster than Bitcoin’s 4.6 TPS and Ethereum 1.0’s 15-20 TPS3.
Another key difference is how Cardano values research. Since it started in 2017, its growth has been based on careful study and tests3. This approach helps make sure the technology stays safe and cutting-edge.
Cardano is also focused on being sustainable, working together well, and able to grow. Its plan is divided into five phases—Byron, Shelley, Goguen, Basho, and Voltaire. Each phase has its own goals. For example, the Shelley phase, which began in July 2020, aimed to make Cardano more decentralized and started giving out staking rewards3.
Today, Cardano’s success is seen in its ADA tokens and its $X billion market value5. These tokens are traded on several platforms. A good portion of these tokens is also being staked by users5. This shows that people really believe in Cardano and its future.
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The Significance of the Alonzo Upgrade
The Alonzo upgrade on September 12, 2021, was a big step for Cardano. It added smart contract features to the blockchain. This update lets the network use decentralized applications (dApps), like Ethereum does10. It also created many new ways to use Cardano smart contracts. In just the first day, over 100 smart contracts were live on Cardano11.
Introduction of Smart Contracts
The main thing the Alonzo upgrade did was bring in smart contracts to Cardano. These contracts work on the Plutus platform10. This platform is strong and safe for making decentralized apps. The Alonzo Blue phase started in May 2021. It let some pool operators and early users try out Plutus scripts12. Then came Alonzo White and Alonzo Purple phases. They opened up the testnet with smart contracts to more people12. This careful, step-by-step plan made sure smart contracts were stable and secure when they launched.
Impact on Cardano’s Ecosystem
Smart contracts have really helped grow the ADA ecosystem. They’ve brought in more developers and projects10. Some reports say Cardano has more developer activity than Ethereum, Solana, and Avalanche10. New protocols have appeared in the ADA world. Examples include ADAX, a non-custodial liquidity protocol, and THEOS for NFT smart liquidity10. There’s also Ardana’s stablecoin ecosystem. It lets users borrow against their ADA, making their investments more versatile10.
Understanding Cardano’s Vasil Hard Fork
The Cardano Vasil hard fork is a big step in the network’s development. It aims to make the ADA network more scalable and update Cardano’s technology more smoothly. This upgrade is a tribute to Vasil St. Dabov, a late artist and advocate for Cardano.
Technical Improvements
The Vasil hard fork will bring in key Cardano Improvement Proposals, such as CIP-31, CIP-32, CIP-33, and CIP-40. It also introduces Diffusion Pipelining. These changes seek to boost developer experience, enhance script performance, and cut transaction costs13. Over 75% of testnet blocks are now created with the new Vasil node version (1.35.0). This shows the initial tests are going well14.
Projected Benefits
The Vasil hard fork is set to lift Cardano’s network capacity by using diffusion pipelining13. It will also make decentralized apps work better together, improving experiences for users and developers. These enhancements are planned to start after epoch 215 begins, at 20:20 UTC on July 3rd14.
Furthermore, the Vasil updates are just part of wider network improvements called the Hard Fork Combinator (HFC)14. This group of upgrades aims to grow the network’s abilities while keeping it running smoothly.
The Cardano team has praised these updates as the “biggest and best upgrade” so far. They’re expected to significantly impact the network14. For more details on the Vasil update, click here.
How Cardano Is Utilized in Various Industries
Cardano’s blockchain is making big changes in industries like agriculture, education, and retail. It uses advanced technology and its currency, ADA. This part talks about how Cardano helps these industries.
Agriculture
In the farming world, Cardano improves how we track products from the farm to our tables. It helps record unchangeable data about products’ travel and status. Using ADA, all involved can manage their goods better, reduce waste, and give clear info to buyers. This transparency builds trust and helps everyone make smarter choices. Also, more and more people are using Cardano in agriculture15.
Education
Cardano is changing education by keeping academic records safe and sound. It ensures these records stay untouched, aiding schools, jobs, and students in handling credentials. Cardano’s system, Ouroboros Praos, secures and scales, handling lots of educational data3. With more than three million Cardano wallets, education benefits from this reliable blockchain1.
Retail
Cardano tackles fake goods in retail. It traces product paths to guarantee realness and cut fraud. This not only keeps buyers safe but also boosts brand trust. With Cardano’s growth, retail enjoys better function and faith in blockchain153. The start of smart contracts aids in complex retail tasks, assuring safe, open deals1.
Here’s a table showing how blockchain and Cardano help different areas:
| Industry | Blockchain Application | Impact |
|---|---|---|
| Agriculture | Supply Chain Tracking | Enhanced transparency and reliability, minimizing losses |
| Education | Credential Storage | Immutable records, easier management and verification of academic credentials |
| Retail | Counterfeit Protection | Reduced fraud, enhanced brand reputation, and secure, transparent transactions |
Analysis of Cardano’s Circulating Supply
The ADA circulating supply is key in the Cardano ecosystem’s health. It shows how much Cardano coin is available. This information helps investors make smart choices for their crypto portfolios.
Right now, there are 35.66 billion ADA coins in circulation, out of a total and maximum of 45 billion16. The number of coins out there is important. It affects how rare the coin is and its price in the market. With ADA’s current price at $0.3384 and a trading volume of $251.91 million in one day, we see high investor interest16.
The Cardano network is growing fast. A recent study showed a 28.5% jump in daily active addresses and a 66.4% increase in daily transactions over three months17. This shows more people are using Cardano, making the network more valuable.
There’s also been a huge 439.9% boost in decentralized exchange volumes. Because of this, Cardano’s total market value went up by 51.3% to $12.07 billion1716. This is impressive growth.
Looking at Cardano coin availability needs both past and present data. ADA started at just $0.02 in 2017 when it first came out. By September 2021, the price hit a record high of $3.1016. These price changes show how supply affects the coin’s value.
The Total Value Locked (TVL) in Cardano’s DeFi protocols went up 16.6%. This boost shows DeFi investors have a lot of trust in Cardano17. This trust reflects in the fully diluted valuation of ADA, which is $15.23 billion16.
In short, looking at ADA’s supply details helps us understand possible market changes. It gives investors a clearer idea of where Cardano might go in the future.
| Metric | Value |
|---|---|
| Circulating Supply | 35.66 billion |
| Total Supply | 45 billion |
| Maximum Supply | 45 billion |
| Current Price | $0.3384 |
| 24-Hour Trading Volume | $251.91 million |
| Market Capitalization | $12.07 billion |
| Fully Diluted Valuation | $15.23 billion |
For further insights into Cardano’s growth and market trends, you can explore more details in an analysis here.
The Security Mechanisms of the Cardano Network
The Cardano network’s security is top priority. It uses a strong proof-of-stake (PoS) system. This not only saves energy but also makes the network safer against attacks.
Cardano’s security is built on a two-layer structure. It separates the settlement part from the computing part. This makes the network more secure by keeping the essential functions away from the apps running on it. The ADA’s defense gets a boost from a consensus mechanism. It selects 21,600 slot leaders every five days from staking pools. This is based on the amount of stake and a random seed from multi-party computation (MPC)3.
Cardano’s blockchain keeps data safe and prevents tampering. In its first test in 2017, the network handled 257 transactions per second. This is much more than Bitcoin’s 4.6 TPS and Ethereum’s 15-20 TPS3. Its efficiency shows the strength of its technological design. This design aims to protect the ADA network well.
The launch of the Shelley mainnet on July 29, 2020, moved Cardano to proof-of-stake. This move lets users earn rewards from staking3. By making this shift, the network’s security got a big boost. It encourages ADA owners to help in protecting the blockchain.
With the Chang hard fork, Cardano made a big leap towards decentralized governance. This shows the network’s dedication to getting better and security driven by its community18. This change also lessens the chance of central failures and attacks.
The upcoming Vasil hard fork promises to make Cardano better. It will bring new features like reference inputs and improved scalability1. These updates show the continuous effort to keep the ADA network safe and efficient.
Where to Buy Cardano (ADA)
It’s now easy to buy Cardano (ADA) with many exchanges available. Starting right can make your Cardano buying journey easier. This helps you make safe and wise investment choices.
Popular Exchanges
You can get Cardano on several well-known exchanges. These include Binance, Coinbase, Kraken, and Bitfinex. They offer great security and easy-to-use websites.
Step-by-Step Buying Guide
Here’s a simple guide to buying Cardano:
- Create an Account: Register on your chosen exchange. Giving correct information is crucial for passing the KYC (Know Your Customer) checks.
- Deposit Funds: Once verified, put money into your account. Most platforms let you deposit in USD, EUR, and other currencies.
- Buy Cardano: Go to the trading area and look for Cardano (ADA). Pick how much to buy and make the trade.
- Store ADA Securely: After buying, move your ADA to a secure wallet. This helps avoid risks on the exchange.
Buying ADA opens doors to a growing blockchain world. Cardano stands out for scalable and sustainable solutions. It’s often seen as a top crypto, showing its solid position and investor trust.
Choosing reputable ADA exchanges makes buying smooth and secure. Our easy Cardano guide helps make your purchase trouble-freeSource:19.
Recent Developments and Future Outlook for Cardano
Cardano is growing fast with new updates on its roadmap. It’s focusing on blockchain innovation and the future of ADA. The platform has more users and developers now5. This has boosted Cardano in the crypto world rankings5. CoinMarketCap shows ADA’s price is rising, and it’s making a mark in the NFT space5. All these signs suggest Cardano has a bright future ahead.
“Cardano’s commitment to growth through ongoing improvements like the smart contract implementation and future-focused upgrades positions it uniquely in the blockchain innovation landscape,” said Charles Hoskinson, Cardano’s founder.
The stats show a big increase in people talking about ADA and new ADA products20. This positive trend highlights the exciting future developments for ADA. The crypto world is taking notice.
Cardano’s performance on decentralized exchanges looks good. It has smart plans for token unlocking5. The roadmap includes updates for scalability, interoperability, and sustainability5. These moves will keep driving blockchain innovation. We can expect Cardano to keep up its strong performance, bringing new changes to the crypto world.
New campaigns and ICO events are coming up for Cardano20. These will push Cardano even higher in the blockchain world20. Watch out for these ADA developments. They’re set to positively impact the market.
Conclusion
Our overview of ADA investments shows that Cardano stands out in the busy crypto world. In the past day, its value went up by 1.00%, reaching $0.389. The trading volume for ADA/USD hit $205 million21. Also, Cardano’s market cap is a strong $13.5 billion. This shows it’s stable and ready to grow21.
Looking at Cardano’s ecosystem, things look good. It’s trading above the 50-day moving average on the 1-day and 4-hour charts. This means a positive trend might continue21. The RSI readings are around 46.55 for the 1-day chart and 44.47 for the 4-hour. This indicates Cardano might keep moving up soon21.
Cardano is making strides with updates like Alonzo and the Vasil Hard Fork. It’s a key player thanks to its research and community focus. It’s appealing for long-term investors and developers. As it grows, it can serve many industries well.