The crypto market has been in a state of flux in recent months, with the prices of major crypto coins falling significantly. One crypto coin that has been particularly hard hit is Cardano (ADA), which has seen its value drop significantly since its peak in January 2022.
Cardano is a decentralized public blockchain and cryptocurrency project that is focused on providing a secure and scalable platform for the development and execution of smart contracts and decentralized applications (dApps). It was created by blockchain development firm Input Output Hong Kong (IOHK) and is led by Charles Hoskinson, co-founder of Ethereum.
There have been rumors circulating that Cardano is “dead,” but these rumors are unfounded and not supported by any evidence. Cardano is a thriving and active project with a strong community of developers, users, and supporters.
At the current time Cardano is trading at $0.25. With the current bear market and the lack of new developments, many investors are wondering if Cardano is dead.
The short answer is NO…..
Cardano is not dead. While it has taken a hit in the bear market, the Coin still has a strong foundation and an active community. Cardano is currently the 9th most popular cryptocurrency by market cap, and its native token, ADA, is still highly sought after by investors and traders.
What Experts Are Thinking?
Cardano (ADA) experienced a downturn in May 2022 during the cryptocurrency market crash. Some experts have claimed that the cryptocurrency is “dead,” but others believe that it has potential for recovery. It is worth considering the opinions of experts when evaluating the future of Cardano.
CaptainAltCoin’s forecast for Cardano in 2022 suggests that the value of ADA may decrease to $0.3389 in November before potentially ending the year at $0.3588. However, the website also predicts that Cardano could make a comeback, with a potential value of $0.6395 in September 2023.
On the other hand, WalletInvestor’s price forecast for ADA is somewhat less optimistic, predicting that the token may decline significantly from its current value and sell for $0.0531 by late September 2023. It is important to note that these are just predictions and should not be taken as definitive forecasts of Cardano’s future performance.