Cardano (CCC:ADA-USD) spent the last handful of months fleshing out its smart contract integration, and all of that work is finally paying off as DApps begin launching on the network. However, this evolution comes at an unfortunate time amid a widespread crypto crash. With the ADA coin desperately clawing for solid ground, the fleet of DApp launches across the network is less of a catalyst and more of a safety net keeping the coin from sinking lower. This week, the network is seeing one of its most hyped-up projects launch, and although the rollout isn’t exactly pretty, it’s still bullish. Thus, investors are seeking out Cardano price predictions.
Indeed, lots of excitement has been flooding the Cardano network as its first decentralized exchange (DEX), SundaeSwap (CCC:SUNDAE-USD), prepared for rollout. The first announcements around the launch of the DEX began back in May 2021, but as Cardano launched smart contract capabilities in mid-September, hype around the project became a lot more real.
Last Thursday marked the launch of SundaeSwap, a major milestone for both the project itself as well as Cardano. Stakers can contribute to the project’s Initial Stake Pool Offering (ISO) from now until Feb. 14, and others can go in and begin making swaps as they wish.
Unfortunately for SundaeSwap, though, the launch of the platform has been beleaguered by issues. Many users are complaining about not receiving their SUNDAE tokens after swapping their ADA.
Meanwhile, the platform says it is dealing with a major congestion issue in its first days. This carousel of issues has prevented data aggregation sites like CoinMarketCap from being able to track the token.
Cardano Price Predictions: Can the ADA Crypto Get Its Footing Back?
The SundaeSwap launch isn’t smooth so far. But, once it gets its issues worked out, the DEX stands to be a huge aid to the ADA coin. Finally having DApps on its platform is in and of itself a huge moment for Cardano. And, when developers work out the kinks with SundaeSwap, it will surely become the DEX of choice for thousands of Cardano bulls.
ADA surely needs this help, especially given the recent crypto crash. In the last week alone, ADA posted losses of over 33%. After reaching a one-month high of $1.62 just a week ago, the coin is now trading at just $1. That being said, just where might SundaeSwap and other future Cardano DApps take the ADA coin? Let’s look at some Cardano price predictions and see what analysts are thinking:
- CoinPriceForecast has low hopes for ADA reaching that $1.62 high again in 2022. The site forecasts an end-of-year price of just $1.20.
- DigitalCoinPrice is slightly more bullish, expecting ADA to reach $1.40 by the end of 2022.
- WalletInvestor’s 12-month forecast is much more bullish than either of those two; it targets a $2.57 price for ADA by January 2023.
- Similarly bullish is Gov Capital, whose 12-month prediction for ADA totals $2.39.
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.