Cryptocurrency buffs are rejoicing today as Cardano (CCC:ADA-USD) announces that investors will be able to make purchases of the currency on Coinbase Pro as of tomorrow. Cardano (ADA) price predictions are heating up in anticipation of the update.
Cardano (ADA) is quickly becoming one of the largest cryptocurrencies right now, right on the heels of cryptos like Ethereum (CCC:ETH-USD) in terms of market capitalization. Right now, the company’s market cap rests at almost $40 billion with room to grow.
There are a number of reasons why investors are bullish on the crypto. For one, the energy consumption of mining ADA is much less than that of Bitcoin (CCC:BTC). Secondly, the crypto has landed a place on Bloomberg Terminal, exposing professionals to the burgeoning currency.
The reveal that Cardano is supporting non-fungible tokens (NFTs) on its platform is very newsworthy. NFTs allow users to prove ownership of digital media like art, files, and so on. NFTs have become popular blisteringly fast, so this news is great for boosting the crypto’s popularity.
With all of this in mind, we can take a look at the experts’ Cardano (ADA) price predictions:
- FXStreet is currently predicting a 15% upswing for Cardano ADA, pricing the currency at about $1.48.
- Without providing a hard price, Forbes contributor Bill Brambough is bullish toward Cardano, reporting that it realistically could, “become an increasingly dominant rival to bitcoin.”
- InvestingCube has been bearish on Cardano recently, citing lack of demand. However…
- With the news of the crypto coming to Coinbase Pro and the resulting price rebound, InvestingCube has reversed their stance. They are now predicting a 40% rise, pricing the crypto at $1.75.
- CoinSwitch is predicting long-term gains for the crypto, saying that the price could climb to around $2 in the next year and a half.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.