Cardano (CCC:ADA-USD) fans have cause for celebration today. The ADA cryptocurrency is up nearly 8% on a number of uplifting news items. As you might imagine, Cardano price predictions are everywhere as the crypto enters the week on a high note.
What’s going on with Cardano lately?
The sixth-largest crypto by market capitalization, Cardano trading volume is up 65% over the past 24 hours. What’s behind the popularity boost? Well, one thing investors seem to like is the release of the newest version of its digital wallet, named Daedalus.
Daedalus, available only on desktop computers, saw various improvements go into effect last week. One specific fix included fixing the blockchain verification process.
Additionally, investors seem to be generally confident in where Cardano is headed. After its Alonzo hard fork, the crypto ecosystem has been expanding and intriguing investors with updates. For instance, last week, Cardano reported hitting the 1,000 smart contract milestone.
And there’s even more positive news for the ADA crypto of late. On Feb. 3, Cardano reported adding more than 12,000 wallets per day since December, for 20.1% growth. This reflects the addition of more than 500,000 ADA wallets since Christmas, and 1,200% wallet growth since December 2020.
With all the momentum, let’s see what the experts think about Cardano’s strength.
Cardano Price Predictions
- Citing popularity and innovation potential, CoinQuora believes ADA is a hands-down winner. The site set a bull-case prediction of $3.12 this year. However, the site stipulates that should the bears take over, the coin may trend closer to 84 cents, below its current $1.20 price point. In the long term, CoinQuora is unabashedly bullish on ADA, with a 2025 price target of $25 per coin.
- Crowd Wisdom is also bullish on ADA. For 2022 the site set a price prediction of $2.63 per coin, more than double its current value. In the long term, it set a 2025 price target of $6.75 for consistent and strong growth.
- CryptoNewZ also views Cardano positively. It set an average 2022 price prediction of $2.15 per coin, and a 2025 price target of $3.90.
On the date of publication, Shrey Dua did not hold (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.