2021 was a pivotal year for Cardano due to the Alonzo update in September, but things have not gone smoothly since the debut. Cardano has undergone a rise in on-chain activity and currently follows only Bitcoin in the current 24-hour transaction volume, overtaking Ethereum in the process
At the time of writing, ADA was trading at $0.9774, down 68 percent from its all-time high of $3.09 in September 2021, which coincided with the Alonzo upgrade.
Cardano’s Trading Volume Has Exploded
Although the price of ADA has been dropping since its all-time high, crypto experts forecast positive price projections in late 2022, 2025, and 2030. As per Finder’s team of 17 crypto specialists, they anticipate the price of ADA will reach by the end of the year at $2.79. In 2025 at $8.18, and 2030 at $58.04.
To put that in context, ADA’s market cap trading at $58.04 will be roughly $1.90 trillion, or 7% greater than the overall crypto market today.
Cardano’s Total Value Locked (TVL) is $129.18 million, up 22.9 percent in the previous seven days, according to DefiLlama on-chain statistics. It may appear to be a large figure, yet it accounts for less than 0.10 percent of all TVL. Last month, a poll was sent to 24 Finder’s panelists, asking them to speculate on the reasons why the price of ADA has been falling. The crypto market has been in a slump since November 2021, according to CoinMarketCap, until late January 2022, when it began to rebound.
The crypto market has been in a slump since November 2021, according to CoinMarketCap, until late January 2022, when it began to rebound. Cardano’s development team revealed last week that a decentralized exchange (DEX) named OccamX will go live later this month.
The Cardano Foundation also appointed Fernando Luis Vázquez Cao to its Board of Directors amid the current Cardano developments. Fernando is also the President and CEO of SBI Digital Asset Holdings. Regardless of ADA’s price changes, the Cardano team continues to work tirelessly to expand ADA’s ecosystem. In addition, indicators such as TVL are indicating a favorable and expanding trend.
