Fans of Cardano have reason to rejoice today. The ADA virtual currency is up nearly 8% in response to a slew of positive news stories. Cardano price predictions are aplenty as the crypto enters the week with a good note, as you might expect.
What’s the latest with Cardano?
Cardano, the sixth-largest cryptocurrency by market capitalization, has seen a 65 percent increase in trading activity in the last 24 hours. release of the latest revision of its virtual wallet, dubbed Daedalus, appears to be a hit with investors.
Daedalus, which is only accessible on desktops and laptops, received a number of updates last week. Fixing the cryptocurrency verification system was one of the specific fixes.
Furthermore, investors are appearing to be optimistic about Cardano’s future prospects. The crypto environment has been broadening and enticing investors with updates since the Alonzo hard fork. Cardano, for example, made an announcement last week that it had reached the 1,000 smart contract milestone.
And there’s been even more good news for the ADA cryptocurrency lately. Cardano announced on Feb. 3 that it had added more than 12,000 wallets per day since December, representing a 20.1 percent increase. Since Christmas, more than 500,000 ADA wallets have been added, representing a 1,200 percent increase in wallet expansion since December 2020.
Cardano Price Forecasts
CoinQuora believes ADA is the clear winner, citing its popularity as well as the potential for innovation.
This year, the site forecasted a bull-case price of $3.12. Even so, the site warns that if the bears take control, the coin could fall to as low as just 84 cents, well below its present $1.20 price. CoinQuora is unrepentantly bullish on ADA in the long run, with a target price of $25 per coin in 2025.
Cardano is also regarded favorably by CryptoNewZ. It predicted an avg. price of $2.15/coin in 2022, as well as a target price of $3.90 in 2025.