Cardano ADA’s platform stands ambitiously for many smart contracts. Charles Hoskinson, IOHK’s CEO and the co-founder of Ethereum, led this project in 2017. This research-driven blockchain aims to establish scalable and secure multi-asset ledgers.
Cardano ADA, like several cryptocurrencies, tends to witness a cycle of boom and bust. The overall charts in prices for Cardano ADA show some familiar patterns.
You can keep tabs on it with Cardano ADA news. Read on to know the latest trends in its prices.
Cardano ADA Live Value
The live value of Cardano ADA varies with time. It depends on the constant flux of balance of sellers and buyers on exchanges. Keeping in mind the trend of Cardano’s volatility, the live price may change by large amounts within a short period.
Today’s live price of Cardano today is $1.32. Its trading value of 24 hours stands at $4,285,896,883 USD. It has gone up by 7.52 percent within the past 24 hours.
The status of its ranking in the current Market Cap is six. The live value of its market cap is $42,181,487,526. Meanwhile, the supply of currently circulating ADA coins stands at 31,948.309.441. The maximum supply of ADA coins remains at 45 billion.
Price Trends from 2020 to 2021
The market’s movements widely influenced the price of ADA in 2020. There was a tremendous crash in March 2020 due to the COVID-19 pandemic and the subsequent plunge in the world economies. The entire crypto-economy and the whole stock market suffered from some of the lowest prices.
However, towards the end of the year, there was a period of growth. Thanks to the latest Bitcoin bull run and the launch of Shelley mainnet, 2021 saw a sturdy increase in the value of cryptocurrencies.
Cardano witnessed a surge in its prices since February 2021. Its value continued to grow till March 29, 2021. Enjoying this meteoric rise, Cardano ADA now ranks sixth on the leaderboard of cryptocurrencies. Since last year, its gains account for over 3,200 percent.
Cardano ADA’s Lowest Price
An all-time low value of Cardano ADA was $0.018932. This was way back in October 2017.
Cardano ADA’s Highest Price
The highest value of Cardano ADA to date is $1.43 in March 2021. This surge was due to the bull run and other project developments.
Factors Influencing Trends in Cardano ADA’s Prices
A vast range of factors can influence Cardano ADA’s price trends. Some of these include:
- Market sentiment
- Trends in the global stock market
- Project updates.
The total supply of Cardano ADA is fixed. Inflation and other debasements such as fiat currencies cannot affect Cardano. So, as long as there is an increase in demand, there will be a boost in its prices. The utility of the facilitating transactions of Cardano’s network can also drive the demand for Cardano ADA.
By bringing the smart contract to blockchain, there may also be a possibility of new developments. It could significantly improve its prices. Its value is likely to spike with its growing adoption.
Currently, Cardano ADA influences an upward trend that seems strong. With a boost in its functionality, a higher value of this blockchain network can be expected. Make sure to keep up with the Cardano ADA news to follow the latest trends in its prices closely.