If you plan on investing in cryptocurrencies, you have thousands of options nowadays. You can invest in major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). The advantage of such investments is the relative stability that these coins provide. However, the disadvantage is that Bitcoin or Ethereum do not increase their value at a very high rate as they used to do several years ago.
Hence, it is worthwhile considering the so-called penny cryptocurrencies. A penny crypto is a digital asset that you can buy for a few pennies. The term applies to digital coins or tokens that trade at less than $5. The advantage of such investments is the potential for a high return on investment. The disadvantage is the high risk associated with such assets. Of the several penny cryptocurrencies in the market, Cardano (ADA) stands out.
With its impressive technology, Cardano, a third-generation blockchain, has taken the crypto world by storm. It improves security and functionality significantly compared to blockchains of previous generations like Bitcoin. As a result, its native cryptocurrency had a tremendous performance in 2021. It set its all-time high price on September 2, 2021, at $3.10. As of mid-March 2022, ADA trades at approximately $0.81.
If you want to invest in this penny crypto, we invite you to read the following Cardano price prediction. This information will help you decide whether this digital asset can meet your expectations as an investment.
Cardano Price Prediction for 2022-2030
Analysts with Wallet Investor believe that ADA could reach $3.240 by the end of 2022. Experts with CryptoNewsZ agree and predict an ADA price of $3.10 by the end of the year. Other analysts are less optimistic. For instance, experts with Long Forecast expect the ADA coin to trade at $1.0558333 on average throughout 2022. However, in all these cases, the prediction is bullish.
The ADA coin will continue to appreciate in the following years. Analysts with Trading Beasts believe that the ADA price will be $9.823 on average throughout 2024. Some experts believe that ADA could cross the $10 line that year. If not, it could happen in 2025. Wallet Investor forecasts an average ADA price of $12.169 for 2025. However, more conservative experts expect lower values. For instance, analysts with Digital Coin Price expect this coin to trade at $6.32 by the end of 2025.
In the long run, ADA will gain value significantly. It could soar to $20 and $35 in 2026 and 2027, respectively. Some experts predict the ADA price will be at least $93 in 2030. Accordingly, it could reach $111 by the end of that year. So, although Cardano is not the penny crypto that will explode 2022, it has enormous potential as a long-term investment.
What Other Penny Cryptocurrencies Are Worthwhile Considering as Investments?
If you prefer investing in a different penny crypto, you can consider any of the following options:
- Shiba Inu (SHIB)
- VeChain (VET)
- Stellar (XLM)
- Hedera (HBAR).
However, before you invest in one of these digital assets, you should do your own research. It would help if you learned about the different factors that drive the price of a specific coin or token. For example, Shiba Inu had tremendous growth in 2021. However, one of the main drivers of such an impressive appreciation was hype and the enthusiasm of its community. As time passes, the said enthusiasm will likely wane, and SHIB will no longer gain value.
Therefore, you should look for cryptocurrencies whose prices are driven primarily by technological innovation.