Cardano is unlikely to reach $100 due to its large circulating supply and already massive market cap of more than $10 billion at current market rates. If ADA were to change hands at $100 per coin, its total market cap would exceed $3.5 trillion, which is more than the peak value of all cryptocurrencies combined.
Cardano is a cryptocurrency and blockchain platform that was created to provide a more secure and sustainable infrastructure for the development of decentralized applications (DApps) and smart contracts. It was founded by Charles Hoskinson, one of the co-founders of Ethereum, and developed by the company IOHK.
In this article, we are going to examine factors that could help Cardano reach $100 and consult our algorithmic predictions for ADA to see where the coin could be headed in the future.
Can Cardano reach $100?
While Cardano could theoretically reach $100, the reality is that such a price level is likely out of reach. At $100 per coin, the total market cap of Cardano would be more than that of any publicly traded company in history, including Apple ($3.1 trillion) and Microsoft ($2.5 trillion).
For additional context, check the table below, which showcases different hypothetical ADA prices and their respective implied market capitalization figures:
| ADA Price | Implied Market Cap |
|---|---|
| $1 | $35.6 billion |
| $5 | $178 billion |
| $10 | $356 billion |
| $100 | $3.56 trillion |
We’ve hopefully established that ADA reaching $100 is all but impossible, at least at the current stage of crypto industry development and the level of Cardano adoption. However, it is safe to assume that Cardano will continue to make strides toward greater scalability and adoption in the future, as will the broader crypto market.
One of the most exciting developments taking place in the Cardano ecosystem at the moment is the work being done on Hydra. Hydra is a layer 2 scalability solution for the Cardano blockchain that aims to increase the transaction processing capacity of the network by allowing multiple heads or channels to be opened between participants for off-chain transactions.
Hydra is designed to fit well with the stake pool model of Cardano and uses an extended UTxO model that allows sharding of stake space without the need to shard the ledger itself. Hydra was launched on the mainnet in May 2023 after several months of testing, with the expectation to enable low latency, high throughput, and low transaction costs for a broad range of applications on Cardano.
The hope is that Hydra could eventually support 1 million transactions per second (TPS), up from Cardano’s base layer 1, which is able to process around 100 TPS.
Cardano price prediction for 2024-2025
According to the algorithmic Cardano price prediction on CoinCheckup, there is a very bullish year ahead for Cardano. The ADA price, which is $0.56 at the time of writing this article, is forecasted to begin rallying in May of 2024 with a quick upwards surge bringing the price of the coin above $1.
This rally is forecasted to keep gaining momentum in the second half of 2024, as ADA is predicted to hit a local peak of $2.32 in September of 2024. This is forecasted to be followed by a price correction, which would end with ADA establishing support at around $1.25.
From that point, ADA is predicted to kick off 2025 with a powerful rally that would bring its price to $2.95 in January of 2025, which would almost match the coin’s current all-time high of $3.10.
The bottom line: Cardano has a lot of upside but don’t count on it to reach $100
Cardano is one of the most actively developed blockchain ecosystems in the world. However, that doesn’t mean that we can expect its native token to 300x its price in the short to medium term. Still, given the project’s academic background and strong community, Cardano is clearly one of the best long-term crypto investments in the market right now.
If you want to read more about the long-term prospects of other crypto assets with active communities and active development cycles, we suggest you check our analysis on whether Shiba Inu can reach $1.
