Today is a relatively green day in the cryptocurrency world. For crypto favorite Cardano (CCC:ADA-USD), today’s price action has taken ADA tokens 9% higher at the time of writing. Thus, investors today may be curious as to what Cardano price predictions may be floating around for this cryptocurrency moving forward.
Indeed, the world’s fifth-largest cryptocurrency by market cap is a top holding of many crypto enthusiasts. The cryptocurrency’s proof-of-stake mining process has been one of the key differentiating factors for investors. Proof-of-stake mining is much less energy-intensive than proof-of-work mining, which is most commonly used by Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD). However, that is about to change.
Ethereum is slowly moving toward a proof-of-stake mining model via its London Hard Fork update. This update is set to go live tomorrow morning, and has caused quite the buzz. With Ethereum entering the proof-of-stake world, Cardano’s race for market share may be a much more difficult one to win.
However, some experts have pointed out that the compensation model offered by Ethereum could actually work in Cardano’s favor, if miners don’t see enough value for their work. Thus, Cardano looks like an intriguing proof-of-stake play in a nascent, but growing, market.
With all that said, let’s dive into where the experts think ADA is headed.
Cardano Price Predictions
For reference, ADA currently trades at $1.38 at the time of writing.
- Fxstreet suggests a near-term price target of $1.50 may be achievable for ADA.
- Coinpedia lists an average price target of ADA for 2021 and 2025 at $2.76 and $10, respectively.
- Walletinvestor puts forward a one-year and five-year price target of $2.98 and $9.56, respectively, for ADA.
- CoinPriceForecast has an ADA 2021 and 2025 price target of $1.57 and $3.27, respectively.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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