Cardano (CCC:ADA-USD) is a network that’s rapidly becoming a household name among crypto investors. With its major upgrades through the latter half of 2021, the platform has become a go-to for developing blockchain projects. It is also making partnerships with many other networks and even companies looking for deeper exposure in the crypto space. This week, Cardano is benefitting as one of its projects collaborates with electronics company Samsung, and ADA crypto price predictions are becoming a hot topic.
The news that’s getting investors excited comes out of the Veritree camp. Vertitree is a blockchain project that is built on the Cardano network. It is a climate solutions project that aims to restore green spaces around the world. The project has a number of initiatives worldwide, but one of the most notable is the Cardano forest. Users can donate ADA coins to the project in exchange for Tree Tokens. The project plants one tree for each ADA users donate, in a location that will be decided once full funding is reached. The Tree Tokens are then redeemable for increasingly rare non-fungible tokens (NFTs).
Samsung is making announcements this week about its own plans to foray into the NFT space. However, today, it’s catching investors’ attention as it teams up with Veritree on a climate initiative. Samsung is planning to plant 2 million mangrove trees in Madagascar by the end of Q1. It’s doing this by collaborating with Veritree; as Samsung funds the project, it will tap Veritree for the planting and tracking of progress on the blockchain.
ADA Crypto Price Predictions: Where Can Samsung’s Cardano-Backed Green Initiative Take ADA?
Cardano is certain to benefit from this partnership. As the underlying network supporting Veritree, Cardano is directly fueling the success of Samsung’s climate initiative. Of course, Samsung is one of the biggest electronics companies in the world, and it’s great for Cardano to be the network providing it with crypto exposure.
With all of this in mind, Cardano’s ADA coin is at the forefront of investors’ minds. Where could it be heading as it continues to underlie projects like this one? Let’s take a look at some ADA crypto price predictions and see what analysts are thinking:
- Right now, ADA is trading at $1.32. CoinPriceForecast thinks ADA will remain near this price throughout 2o22, finishing the year out at just $1.42.
- DigitalCoin is slightly more bullish, expecting ADA to gain over 40 cents through the year. The site’s year-end prediction places the coin at $1.79.
- Gov Capital is a fair bit more bullish, targeting a value of $2.67 for ADA in a year’s time.
- Wallet Investor is the most bullish of the pack, expecting ADA to burst through the $3 level in the next 12 months. The site expects ADA to be worth $3.05 at the end of the year.
On the date of publication, Brenden Rearick 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.