The world of crypto has witnessed a rapid evolution in recent years. Among the many digital assets that have emerged, ADA has gained significant attention. 

[ADA,](/news/article/latest-cardano-news-and-roadmap) short for Cardano, is a blockchain-based cryptocurrency that seeks to revolutionize how we conduct financial transactions and build decentralized applications. 

## What are ADA crypto use cases? 

ADA, the cryptocurrency token of [Cardano](https://cardano.org/), has a wide range of use cases that demonstrate its versatility and potential impact. Some notable use cases include decentralized finance ([DeFi](/news/tag/defi)) applications such as lending, borrowing, and yield farming, which ADA can use as a medium of exchange or collateral. 

ADA can utilize for identity verification, supply chain management, voting systems, and even in the healthcare sector for secure storage and sharing of medical data. With its scalability, security, and interoperability, ADA is a valuable tool for various industries seeking to leverage blockchain technology for enhanced efficiency and transparency. 

# The benefits of ADA 

- Scalability: By separating the settlement layer from the computation layer, Cardano can scale each layer independently, enhancing the network's overall performance. 

- Sustainability: Cardano uses the Ouroboros Proof of Stake (PoS) consensus mechanism, which requires significantly less energy than traditional Proof of Work (PoW) mechanisms. 

- Enhanced Security: Cardano's Ouroboros consensus mechanism is suitable for providing robust security by involving stakeholders with ADA in the validation process. This PoS-based approach enhances the network's security, reducing the risk of attacks, such as 51% of attacks commonly associated with PoW-based blockchains. 

- Privacy: Cardano incorporates privacy protocols and techniques to enable secure and confidential transactions. 

- Interoperability and Cross-Chain Compatibility: This interoperability allows for the efficient transfer of assets and data between different blockchain platforms, enhancing the overall connectivity and usability of the ecosystem. 

## Cardano's approach to decentralized finance 

Cardano has a comprehensive approach to decentralized finance (DeFi), aiming to build a robust financial operating system that offers secure, transparent, and inclusive financial services. 

### Technological Infrastructure: 

Cardano's blockchain technology provides a solid foundation for DeFi applications. Its scalable and sustainable architecture enables efficient transaction processing and smart contract execution. 

### Interoperability and Cross-Chain Compatibility: 

Cardano recognizes the importance of interoperability in the DeFi space. It aims to establish seamless connectivity and integration with other blockchain networks, enabling the transfer of assets and data across different platforms. 

### Decentralized Applications (DApps) and Smart Contracts: 

Cardano provides a platform for developers to build decentralized applications (DApps) and execute smart contracts. Cardano's focus on security and formal verification ensures that DApps and smart contracts deployed on the platform are reliable, secure, and free from vulnerabilities. 

### Financial Inclusion and Accessibility: 

By leveraging blockchain technology, Cardano enables cost-effective and efficient financial services, such as lending, borrowing, remittances, and microfinance, to be accessible to a broader population. This inclusive approach empowers individuals and promotes economic growth and social development. 

### Compliance and Regulatory Frameworks: 

It aims to collaborate with regulatory bodies and policymakers to establish frameworks that foster innovation while ensuring consumer protection and financial stability. By working within regulatory boundaries, Cardano seeks to build trust and create a sustainable DeFi ecosystem that aligns with legal and compliance requirements. 

## Investing in ADA crypto 

Investing in ADA, the native cryptocurrency of Cardano, requires understanding the available wallets, exchanges, and staking options and considering the long-term potential and market outlook. Here's what you need to know: 

- Wallets: 

To securely store ADA, you'll need a cryptocurrency wallet. Cardano offers its official Daedalus, a full-node wallet allowing the storage and management of your ADA securely. 

- Exchanges: 

You will require a cryptocurrency exchange that supports ADA trading to buy and sell ADA. Some popular exchanges that list ADA crypto include Binance, Coinbase, Kraken, and KuCoin. 

- Staking: 

By staking your ADA, you contribute to the network's security and earn additional ADA as a reward. To stake ADA, you can use the staking functionality provided by wallets like Daedalus and Yoroi or delegate your ADA to a stake pool through supported exchanges. 

- Long-Term Potential and Market Outlook: 

Investing in ADA crypto involves considering its long-term potential and market outlook. Cardano's commitment to scientific research, peer-reviewed development, and focus on scalability and sustainability positions it as a promising blockchain platform. 

## Challenges and future developments 

While Cardano has made significant progress, it still faces challenges and competition in the blockchain. This section will explore some hurdles Cardano needs to overcome and highlight its roadmap and upcoming upgrades. 

## Regulatory Concerns: 

As cryptocurrencies and blockchain technology gain prominence, regulatory bodies formulate policies to address potential risks and ensure consumer protection. 

## Competition from Other Blockchain Platforms: 

Cardano operates in a highly competitive environment, with several other blockchain platforms vying for market share and developer attention - established platforms like Ethereum and contenders like Polkadot and Solana present intense competition. 

## Roadmap and Upcoming Upgrades: 

Cardano has a well-defined roadmap with planned upgrades and developments. The roadmap focuses on key milestones and technical improvements to enhance the platform's capabilities. 

## Research and Scientific Approach: 

Cardano's commitment to scientific research and academic rigor sets it apart from other blockchain platforms. However, this approach can sometimes lead to longer development cycles, as peer-reviewed research and extensive testing to prioritize. 

## Adoption and User Base: 

As with any blockchain platform, widespread adoption is crucial for Cardano's success. Cardano must attract developers, enterprises, and users to build and utilize applications on its platform to drive adoption. 

## ADA crypto conclusion 

ADA crypto has emerged as a powerful and promising asset with the potential to shape the future of decentralized finance (DeFi) and bring about transformative changes across various industries. With its innovative features, commitment to sustainability, and real-world applications, ADA has gained recognition and generated significant interest among investors and enthusiasts. 

What is ADA Crypto? 

The latest [Cardano](/news/article/cardano-midnight-new-privacy-blockchain) news making headlines has primarily focused on developments in its ecosystem. 

Unfortunately, while many blockchain enthusiasts continue to lambast Charles Hoskinson, the project's founder, over a lack of strong decentralized applications (DApps) to challenge Ethereum's status as the most powerful decentralized finance (DeFi) network, many outlets have largely ignored the project's growing total value locked. 

## Latest Cardano news: Value locked in DApps explodes in 2023 

Cardano has been one of the most discussed projects in the smart contracts-backed blockchain technology sector for a long time. 

Hoskinson's ability to identify the problems associated with using blockchain, such as decentralization, security, and scalability, made it one of the most considered networks for several up-and-coming developers. 

After years of trailing [Ethereum](/news/article/eth-shanghai-upgrade-postponed) and later the likes of Internet Computer, [Solana](/news/article/a-look-into-solana-faucets), and Algorand, [Cardano](/news/article/cardano-analysis-and-explanation) finally triggered "[Alonzo](https://markets.businessinsider.com/news/currencies/cardano-ada-alonzo-upgrade-defi-smart-contracts-charles-hoskinson-2021-9)", a network upgrade that had been in development for years and remains an integral part of the expansion of its ecosystem. 

In September 2021, Alonzo made the blockchain smart contracts-compatible, and Hoskinson told Business Insider that he considered the move the most significant change in the history of his protocol. This made it possible for DApps to be created on the platform. 

According to data from [DeFiLlama](https://defillama.com/chain/Cardano), Cardano TVL on 1 January was approximately $48.9 million. In fewer than 120 days, about $122 million was added to this statistic due to increased interest in DApps deployed on the network. As of 11:00 UTC on 18 April, the total value locked was around $171 million. 

Much of the spike came from DApps such as decentralized exchanges Minswap, WingRiders, MuesliSwap, SundaeSwap, ADAX Pro, MeowSwapFi, and Genius Yield; decentralized lending platforms Meld, FluidTokens, Lending Pond, Aada, Optim Finance, and Liqwid; staking platform VyFinance; decentralized services applications World Mobile Token, Revuto; and collateralized debt positioning (CDP) applications Indigo and Djed Stablecoin. 

Since total value locked is one of the major indicators of the success of a blockchain protocol, a rise in the overall value of assets quantified in the US dollar (USD) bodes well for the smart contract protocol that processes thousands of transactions per second. 

Many analysts believe a significant rise in the demand for DeFi products will further impact the TVL of Cardano positively.  

Latest Cardano news: Development activity continues to soar 

In the blockchain technology and cryptocurrency space, development activity shows a particular protocol's health and growth. 

Cardano has always been in the top rankings when development activity is measured.  

As of 18 April, development activity stood at [424.73](https://app.santiment.net/watchlist/projects/all-assets-5496?charts=%7B%22isPriceChartActive%22%3Afalse%2C%22isPriceTreeMap%22%3Afalse%2C%22isVolumeTreeMap%22%3Afalse%2C%22isMovement%22%3Atrue%2C%22priceBarChart%22%3A%7B%22interval%22%3A%2224h%22%7D%2C%22socialVolumeTreeMap%22%3A%7B%22interval%22%3A%2224h%22%7D%2C%22priceTreeMap%22%3A%7B%22interval%22%3A%2224h%22%7D%7D). This placed Cardano third in the ranks behind Polkadot and Kusama's 601.33. This puts Cardano ahead of other protocols such as Flow (popular technology behind NFT projects such as NBA Top Shot and NFL ALL DAY), Chainlink, Cosmos, Internet Computer, Hedera Hashgraph, Status, Ethereum, Optimism, Solana, and Avalanche.  

Since development activity is correlated with total value locked through decentralized applications, the amount of liquidity locked in the project, coupled with the forging of many partnerships across Africa, could explode further to the $500 million milestone as the latest Cardano news unfolds. 

Wrong technology and ambitious roadmap have contributed to slow development  

On 6 April, the protocol's founder discussed the latest Cardano news with an analyst at CoinTelegraph, a popular crypto news portal. 

On a podcast dubbed [Hashing It Out,](https://cointelegraph.com/news/charles-hoskinson-cardano-delays-due-to-betting-on-wrong-tech-ambitious-roadmap) Hoskinson touched on many areas, particularly the future of crypto and his vision for the growing sector. 

He revealed that the crypto industry had seen impressive gains in the non-fungible token (NFT) sector while acknowledging that an ambitious roadmap and wrong technology have been significant setbacks in Cardano's quest to becoming what many industry experts deem as an Ethereum Killer, the main rival to Vitalik Buterin's blockchain technology. 

Despite the negatives, he admitted to seeing many positives in the adoption of crypto in Africa (primarily east and west) and disclosed that he plans on dealing with more individuals and companies rather than governments in the region due to political instability.   

## ADA is up more than 80% year-to-date (YTD)  

ADA is the native asset of Cardano. As one of the most demanded cryptocurrencies, the coin fell sharply in 2022 due to the collapse of TerraUSD (UST) in May and [Sam Bankman-Fried's FTX](/news/article/sam-bankman-fried-bail-co-signers-revealed) later in November. 

Thriving on positive market sentiment that has seen Bitcoin (BTC) and Ethereum (ETH) surpass $30,000 and $2,000, respectively, for the first time in months, ADA has also been on an uptrend of its own. 

After opening the year on 1 January with a trading price of[ $0.2464](https://coinmarketcap.com/currencies/cardano/historical-data/), it reached a then-yearly peak of $0.4192 in February on the back of a partnership with AI-powered technology [SingularityNET](link). It closed the first quarter of the year at $0.3989. 

Traders who added ADA to their investment portfolios during the year's opening day saw 60% returns during Q1 2023. 

Bitcoin leads the more than 20,000 cryptocurrencies on the market during bullish days and bearish seasons, while Ethereum leads changes in smart contracts-backed digital currencies. 

With the two coins seeing above-average daily volumes that have rekindled investor interest in searching for the next golden goose, ADA is back on the radar of many crypto lovers.  

As a result, the crypto asset rose to a new yearly peak price of $0.4606 on 15 April. This took its market capitalization to around $16 billion. 

## Will ADA retest $1?  

ADA reached an all-time high (ATH) price of $3.0992 on 2 September 2021. Since then, the coin has been on a downward spiral and continues to trade below $1.  

Its growing ecosystem (development activity), increasing daily trading volume, and a spike in total value locked have led to the trending of the question, can ADA retest the $1 mark across several crypto forums?  

Analyst [Elena R](https://coinpedia.org/price-prediction/cardano-price-prediction/). at crypto news and forecasting portal CoinPedia believes ADA could cross $1 again in the medium term.  

According to her, the slow process in the implementation and completion of the project's roadmap could see the coin reach the highest maximum price of $1.267 by the close of 2025. 

Latest Cardano News: TVL Soars More than $120M

According to CoinGecko statistics, the value of [ADA](/news/article/cardano-price-prediction) increased by more than 21% late Sunday, re-entering territory not seen since November. Cardano, the eighth-largest cryptocurrency by market capitalisation, witnessed its price surge to $0.33, a level not seen since 19 November. Cardano's value increased faster than that of the top two cryptocurrencies, Bitcoin and Ethereum.

## Why has the price of Cardano risen? 

The reasons for the jump in ADA this week need more examination. The blockchain's most recent key milestone was the September deployment of the [long-awaited Vasil split](/news/article/cardano-vasil-hardfork). Nonetheless, Cardano co-founder [Charles Hoskinson](https://iohk.io/en/team/charles-hoskinson) has recently received considerable attention.

Hoskinson's company, Input Output HK, is preparing for the upcoming release of the Lace Cardano wallet. In June, Hoskinson announced the establishment of Nessie's, a restaurant and whiskey bar accepting ADA. Hoskinson also announced on Thursday that his new Hoskinson Health & Wellness Clinic in Wyoming would accept ADA as payment.

## Views on the price of Cardano going up 

Cryptocurrency [trader](https://www.benzinga.com/markets/cryptocurrency/23/01/30325079/ethereum-rival-cardanos-20-surge-amazes-analyst-did-they-figure-out-a-cure-for-cancer) Lark Davis was shocked by ADA's remarkable price jump, asking: "Did they discover a cure for cancer or something?".

Dan Gambardello, a trader, has publicly claimed that ADA is cheap and oversold.

## The price of Solana also increases

Solana had the best opening week of the year of any top-20 coin, with a 60% rise in seven days. It's a stunning comeback for SOL, which fell more than 41% in the aftermath of the [FTX crash](/news/article/ftx-bankrupt-who-to-blame). Solana, sometimes dubbed an "Ethereum killer," was a favourite of Sam Bankman-Fried. 

According to CoinGecko, the disgraced founder's fall from grace last autumn brought Solana with it, down 94% from its all-time high of $259 recorded only one year previous. Last week's increase occurred as Solana creators released a new, Shiba Inu-themed BONK currency to compete with SHIB. Even though the launch celebration was short-lived, BONK outperformed all major cryptocurrencies during the week.


cardano cryptocurrency coin over image of crypto trading app with green filter

Price of Cardano and Solana Up 21%

[Cardano, a blockchain platform](https://www.coinbase.com/learn/crypto-basics/what-is-cardano) focusing on security and scalability, has seen a surge in price in recent weeks. But what is the prediction for the future?

Cardano's [current price](https://coincodex.com/crypto/cardano/) is $0.426895, with a 24-hour trading volume of $1.35 billion, a market capitalisation of $14.25 billion, and a market domination of 1.33%, up from a nearly 20% drop in past months. 

On the previous day, the price of ADA jumped 7.78% in the last 24 hours.

## Experts Weigh In: What's the Cardano Price Prediction for 2025?

[Despite this](https://cointelegraph.com/news/cardano-price-chart-paints-burj-khalifa-with-7-month-losing-streak-more-losses-ahead), the majority of analysts remain bullish about Cardano's future. Analysts predict that Cardano will conclude 2023 between $1.50 and $2, depending on whether the whole cryptocurrency industry experiences growth in 2023. [Analysts predict that Cardano might test $10 by the end of 2025 in the long run](https://www.analyticsinsight.net/cardano-price-prediction-is-cardano-a-good-investment/#:~:text=That%20said%2C%20most%20analysts%20are,by%20the%20end%20of%202025.).

## Fundamental Analysis of Cardano's Price Predictions: Why ADA May Reach $10 by 2025

Although the future is difficult to predict, many experts agree that [Cardano](/news/article/cardano-hard-fork) is undervalued and has great potential. Based on its fundamentals, ADA may reach $10 by 2025. Here's why:

First, Cardano has a strong team behind it, [led by Charles Hoskinson](https://cointelegraph.com/news/charles-hoskinson-and-eth-dev-get-into-a-war-of-words-post-vasil-upgrade), one of the co-founders of Ethereum.

Second, Cardano is built on a unique blockchain platform [designed to be more scalable](/news/article/cardano's-method) and efficient than existing cryptocurrencies. Finally is Cardano's hard fork launch, [Vasil](/news/article/cardano-hard-fork). 

These factors indicate a bright future for ADA and a possible price increase to $10 by 2025.

## Technical Analysis of Cardano's Price Predictions

Cardano is a blockchain platform that uses a unique Ouroboros algorithm for its Proof of Stake protocol. This makes it one of the world's most reliable and secure blockchains.

On 2 September, 2021, when it was trading at a record high of $3.10, [Cardano attained its highest price](https://coincodex.com/crypto/cardano/). Since its ATH, the price has never been lower than $0.330862. (cycle low). Since the low of the last cycle, the ADA price has risen to $0.437360 (cycle high). The sentiment surrounding the Cardano price prediction is now neutral.

As a reminder, this is merely a forecast and not financial advice.



Cardano Price Prediction

[Cardano](https://cardano.org/) claims to be one of the most advanced and diverse ecosystems in the blockchain industry. It is quite a [revolutionary project](/news/article/cardano-samsung-climate-change) introducing multiple use cases for the blockchain. That’s why its native currency, [ADA](/news/article/crypto-news-cardano), often seems lucrative to investors and the ADA price in GBP matters.  

But as the token is relatively undervalued, many are hesitant to invest in the project. If you want to know its potential, here’s everything you need to know!

## ADA price GBP today

As of today (29 November 2022), Cardano's price in Pound Sterling is [£0.3655](https://coinmarketcap.com/currencies/cardano/markets/). It shows a 5.88% upward movement with a 24-hour trading volume of £642,454,898. CoinMarketCap’s market capitalisation is around £12,620,277,858, with a circulating supply of 34.33 billion tokens.

![ada price gbp.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ada_price_gbp_2fa11dc1b7.png)

[Source](https://coinmarketcap.com/currencies/cardano/)

Comparatively, Cardano’s value in USD is $0.4156, with an ascending trend of over 6.5%. Besides, its market cap in USD makes up $14,357,628,346.

## An analysis of ADA price GBP

[October](/news/article/crypto-hacks-peaking-october) has been a tough month for this blockchain platform. But towards the end, it gained momentum as the price reached almost £0.37. Previously, the critical support level for ADA was at £0.34, and the key resistance level was £0.37. Now, its value has moved above this resistance, which hints toward a possible bullish trend.

The currency’s value has risen by around 5% in the past seven days. Now, it seems to be in the position of going past this level and capitalising on the upward trend. If it manages to sustain its current value, it may see an upswing that will take it to the 0.45 GBP mark. 

## Cardano against Dogecoin

Cardano has experienced a price correction and is showing signs of a [bullish position](/news/article/will-crypto-recover). But its performance is not as impressive as Dogecoin. Recently, it has overtaken Cardano as the eighth-largest crypto in terms of market cap. Moreover, DOGE has surged over 46% in the past seven days. 

As of today, [DOGE’s value](/coins/doge) has reached £0.1131. It also briefly touched the £0.13 mark, which was the highest in the past six months. However, Dogecoin is currently down by 2.50%. Nonetheless, these gains are massive in comparison to Cardano. This is the reason DOGE has surpassed ADA in the rankings. 
 
## Price patterns in the past of ADA

ADA’s price history suggests that it performs well only during the bull cycles and struggles badly during the bear cycles. When it was launched in 2017, its value was only around £0.020, reaching £0.98 at the end of the year. In 2018’s bear market, it plunged to £0.11. 

From 2018 to 2020, Cardano’s value remained between £0.03 to £0.07. Then, in the bullish market of 2021, it reached its highest value of £2. After that, the value continued to drop. This indicates the highly volatile nature of ADA. That’s why long-term [investments in Cardano](/news/article/cardano-investment) have always been a bet.


ADA Price in GBP: Conversion and Analysis

In this article, I have analysed Cardano's performance along with the ADA to GBP conversion rate to determine whether it is a good investment.

[Cardano](https://cardano.org/) is a highly developed and diverse ecosystem in the blockchain industry. It is often dubbed a [revolutionary project](/news/article/cardano-hard-fork) with various use cases. Thus, Cardano’s native token, ADA, may seem like a good prospect for [investment](/news/article/cardano-investment). 

Though the token may seem undervalued, it has seen a few highs and lows in the past. Nonetheless, it has experienced high volatility since 2018, so gauging its potential has become difficult. If you are considering investing in it, here you can find the ADA to British Pound Sterling  conversion rate and analyse whether it will be a good investment for the coming years.  

## ADA Price today

As of today, 24th November 2022, the token changes hands at around 0.3154 USD, according to [CoinMarketCap](https://coinmarketcap.com/currencies/cardano/). Its current market cap is $13,472,917,601, with the past 24 hours trading volume of $580,517,946.

Its value in Pound Sterling is £0.3372, which is currently down by 4.08%. Its previous close was £0.335802, with a trading volume of 503.63 million.

## ADA to GBP price analysis

Before you move on to the price predictions, observing the previous patterns in ADA's price is vital. In the beginning, in 2017, its price was a mere £0.020. However, it started to gain momentum towards the end of the year and reached £0.98. Then during the bear market of 2018, it slipped to £0.11.

![Picture1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture1_f2971f5883.png)
 
[Source](https://finance.yahoo.com/chart/ADA-GBP#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-)

After that, it made modest gains on and off, but its value remained between £0.03-0.07. Finally, in 2021, it made its all-time high of around £2. But, it continued its downward trend from the end of 2021 until now.

This shows that it may make some gains in the next bull cycle, but its high volatility makes it risky. Therefore, according to my analysis, [Cardano](/news/article/crypto-news-cardano) might not be the ideal choice for long-term investments.


ADA to GBP Price Analysis

The [Cardano (ADA)](https://cardano.org/) network welcomes a new update, Vasil. After the [Ethereum Merge](/news/article/ethereum-the-merge) last week, on Thursday, September 22, the Cardano hard fork was successfully released. It is the most significant upgrade on the blockchain since last year’s smart contract update. It is likely to enhance the capability and performance of the blockchain. 

Charles Hoskinson, the co-founder of the network, announced the deployment of the Vasil in a [live Twitter space](https://twitter.com/IOHK_Charles/status/1573055811382829056). Meanwhile, [Input Output Hong Kong (IOHK)](https://iohk.io/), a blockchain firm, also proclaimed the procedure’s success. 

In a tweet, the firm said the launch took place at 21:44:00 UTC and collaborated with the Cardano foundation.

![cardano.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/cardano_306c5cc934.png)
 
Previously, IOHK also disclosed one significant feature of ADA’s recent update: block transmission will be possible without complete validation.

## What is the Cardano hard fork upgrade?

A hard fork is a blockchain split that results in two branches of the same protocol. It validates previously invalid transactions and blocks or vice-versa to develop a new version. There can be several reasons behind this update, like the performance limitations. 

In [Cardano’s](/news/tag/cardano) case, the Vasil update improved the network’s performance. It is to enhance the transaction speed and lower the transaction cost. Moreover, its Plutus smart contract will be upgraded to improve the decentralised applications.  

Though the Vasil has been deployed, the full features of this advancement will be accessible to the developers after September 27, as the upgrade is a lengthy five-day procedure. 

Before it went live, Charles Hoskinson said that the [Cardano hard fork](/news/article/cardano-vasil-hardfork) is one of the hardest to execute for the developers. This is the reason it got delayed and rescheduled several times. Initially, it was planned to take place in June but got postponed because of bugs in the mainnet causing compatibility issues. 
 




The Cardano hard fork upgrade goes live

Are you looking for the best Cardano NFT marketplace options? Then you've come to the right place.

Cardano is a popular and reputable public blockchain founded by Charles Hoskinson, the co-founder of [Ethereum](/coins/eth). It stands out as a Proof-of-Stake blockchain. It features a native token, ADA, that can be used to pay transaction fees and be staked to earn rewards.

Launched in 2017, like Ethereum, Cardano features smart contract functionality. Developers use it to create decentralised apps (dApps) and decentralized finance platforms (DeFi).

Among the many projects built on the Cardano blockchain are NFT marketplaces. The blockchain supports several reputable NFT marketplaces with different features. In this article, we zoom into five of the best Cardano NFT marketplace options.

## [CNFT.io](https://cnft.io/)

Launched by a decentralised team in July 2021, CNFT.io is the first Cardano NFT marketplace. It is one of the biggest Cardano NFT marketplaces.

CNFT.io features various listing options and supports several Cardano wallets, including Nami and Gero. It has a native token, $CNFT. $CNFT tokens are utility tokens that can be used to access projects on CNFT.io's upcoming Launchpad, special giveaways, promotions, and more.

To access CNFT.io, users must first sign in with a username and password. To purchase any NFT on the platform, users must first fund their crypto wallets. It charges a 2.5% service fee for each NFT sold.

## Jpg.store

Jpg.store is another reputable Cardano NFT marketplace that markets itself as the number one NFT marketplace on Cardano. Its minimalistic design makes it quite user-friendly. Locating available NFTs on the platform is a walk in the park.

Jpg.store features several listing options, minting tools, and a Launchpad, allowing NFT creators to mint, verify, distribute, and market their new NFT projects. It supports several crypto wallets, including Nami, Gero, and Typhon.

Jpg.store stands out with its open-source smart contracts. The platform is all about transparency. Several other pluses include rarity charts on every asset page, traits filtering, and royalties for creators. This Cardano NFT marketplace charges a 2% service fee.

## Tokhun.io

Tokhun.io is a great Cardano NFT marketplace that was initially designed as a minting platform before evolving into a smart contract-driven marketplace. Like CNFT.io, it is among the first NFT marketplaces to be launched on Cardano. It was established in March 2021.

Tokhun.io features various listing options, minting tools, serialised minting, an auction system, creator royalties, and authenticity validation. Like CNFT.io, Tokhun.io has a native token, $TKHN, which can be used to buy, sell, and mint NFTs.

While Tokhun.io isn’t the most visually appealing Cardano NFT marketplace, it does have a decent social media following. You need to sign up for a user account to mint, sell, or buy any NFT from the Cardano NFT marketplace. There is a 2.5% service fee to consider.

## Galaxy of Art

Galaxy of Art is a Cardano NFT marketplace backed by a team of ten persons from Germany, the USA, Greece, and India. The individuals range from programmers, project managers, financial experts, and educational experts to artists.

Like most NFT marketplaces on Cardano, Galaxy of Art claims to be the largest NFT marketplace on Cardano. This is yet to be proven. Launched in January 2022, Galaxy of Art is fairly young. However, it has quickly proven to be a reliable NFT marketplace.

Galaxy of Arts features various listing options, minting tools, and a time auction system. Users are, however, limited to using insider wallets. They cannot link their accounts to external crypto wallets.

## Cardahub

Cardahub is an easy-to-use marketplace that markets itself as the most advanced NFT service on Cardano. While its superiority claims are yet to be proven, it is the most technically refined NFT marketplace on Cardano.

Cardahub, among other things, features various listing options, minting tools, collection pages, free and premium minting, and a Launchpad. Its strategic partnerships are another reason it has become quite popular since its launch in 2021. It has over 25 partnerships that have helped with its growth.

Cardaub supports several wallets, including Nami, Gero, Eternl, Flint, and Yoroi. You will have to connect either of the supported crypto wallets to create, sell, or buy NFTs from the platform.

It is impressive that the platform is run by a team of Vietnamese crypto-enthusiasts working remotely from Switzerland, Germany, Sweden, and Vietnam.

## Final word

Without a doubt, Cardano supports some of the best NFT marketplaces around. While some are still in their early stages, many continue to show great promise.

CNFT.io, Tokhun.io, Cardahub, jpg.store, and Galaxy of Art are only a few of the many NFT marketplaces on Cardano. Most, if not all, of the NFT marketplaces are easy to use and feature various listing options.

With a Cardano wallet, you can easily start minting and selling your NFTs on either of the platforms.


Cardano NFT Marketplace Options for You

Amid the crypto crash, [Cardano](/news/tag/cardano) is pushing towards the Mithril update. The update can benefit the ecosystem’s security by incorporating a threshold multi-signature system. According to today’s crypto [news](https://cardano.org/news/), Cardano blockchain is about to introduce an update for better security, lesser overheads, and smooth transactions.

The proposal was presented by the lead developers of Input Output Global, Pyrros Chaidos and Aggelos Kiayias. They believe that Cardano staking can be used for multi-signature trades. In addition, the protocol might help the stake pools in signing the Cardano blocks.

Mithril’s functioning is quite different from the multi-signature system, and it can provide better transparency and efficiency. Speculation about the update led to a surge in 'crypto news Cardano' searches.

So, here’s everything you need to know about Cardano’s Mithril update!

## What’s Mithril protocol?

Mithril is a fictional metal that is lightweight yet as strong as triple steel. This is the same phenomenon that the Mithril protocol uses. It shapes a lighter blockchain but ensures a high level of security.

The previous multi-signature system requires the approval of the majority for each transaction. The logarithm to process the approval of the majority takes time, and there is room for efficiency. This is where the Mithril protocol can help blockchains with the staking mechanism for getting multi-signatures.  

## Main features of Mithril protocol design

Mithril protocol differs in many ways from the previous multi-signature mechanism for transactions. However, it is an advanced version of the multi-signature systems having 7/8 or 6/7 multi-sig wallets. Mithril protocol can weigh the Cardano tokens staked by users to evaluate how they can sign for a transaction.

The protocol works on a complex design, ensuring higher efficiency and trust in the system. Key features of the Mithril protocol include:


•	The protocol leverages the sign staking system to complete multi-signatures for higher efficiency.

•	Its setup ensures better transparency without the need for altering trust settings.

•	The trade-off between efficiency and time is used to avail flexibility.

•	It has a traceable and scalable procedure.


## Cardano staking for multi-signature transactions

It leverages the staking system for creating multi-signatures. So, for completing one multi-signature, it randomly selects different signers and weighs the number of ADAs they have pledged. Then it takes the aggregate of their stakes. Through this process, the Mithril protocol makes one stake threshold multi-signature. As the signers are selected randomly, this process can be scaled and verified.

For further clarification, you can refer to Mr. Schmiedel's explanation of how the Mithril protocol works.

## Use cases of Mithril Protocol

If you are wondering what the applications of this Mithril protocol are, here you can explore a few of its use cases! 

### 1) Full node applications like Daedalus

Mithril protocol can be highly beneficial for full node applications like Daedalus. It can speed up the synchronization while ensuring the security of the full node data. In addition, it can enhance the usage of time and resources, making the system efficient.

### 2) Mobile applications

This protocol can also be used in different mobile applications. It can offer a mechanism that works with trustless technology. Therefore, the users do not have to trust the other party or a third party to use the application. It has predefined conditions; if they are met, the application will give you the said result.

### 3) Lightweight blockchains

Mithril protocol can also work for lightweight blockchains by providing a verification mechanism. For instance, it can securely verify the forward and backward transactions and ensure efficiency. Also, it can approve the state of a blockchain by validating the Proof-of-Stake (PoS.)

### 4) Voting applications based on staking

Voting applications can also be designed with the Mithril protocol. Its threshold multi-signature can work for validating each vote to ensure transparency.

## Final Thoughts

As per today’s crypto news Cardano is moving towards implementing the Mithril protocol in their blockchain. This protocol works with the staking mechanism to multisign each transaction. It selects users at random and takes the aggregate of their ADA tokens. Through this, it creates one multi-signature for a transaction.

The Mithril protocol is more time and resource-efficient than previous multi-signature systems. Also, it ensures better security for blockchains as you can easily verify transactions through it. Its use cases show that the protocol can be highly beneficial for various web 3.0 projects.


Crypto News: Cardano (ADA) pushes toward Mithril update

Cardano has announced the opening of a 4-week window for developers of decentralized applications (dApps) and software engineers at cryptocurrency exchanges to test the protocol’s upcoming upgrade before it is launched onto the main network. 

Input Output Hong Kong (IOHK), the developers behind this upgrade ,have pointed out that this is the most significant upgrade undertaken on the Ouroboros protocol to date. 

## What the Vasil hardfork entails

The latest update will bring capability upgrades and significant performance to the chain. Aside from that, it will improve script performance for developers, and lower costs by providing higher throughput. The [Vasil hardfork](https://cointelegraph.com/news/cardano-s-vasil-hard-fork-proposal-submitted-countdown-commences) is trending because of the lesser impact the Alonzo update had on stakeholders of the project which was evident in the 11 decentralized applications on the blockchain, according to DeFiLlama. 

As one of the few chains that have found an answer to the blockchain trilemma (decentralization, security, and scalability), the update will come with the implementation of diffusion pipelining. This would improve the scalability of the blockchain for the creation of dApps. Last year, Cardano founder Charles Hoskinson pointed out that the protocol will  host thousands of applications by the end of 2021. Unfortunately, this has not been the case as projects such as Avalanche (AVAX) and Solana (SOL) have attracted substantial market share due to Hoskinson’s project not reaching full functionality, as per the roadmap given to its followers. 

Through this update, block creation will be relatively faster since they would not need full validation before transmission. This will pave the way for developers to finally build their dApps on one of the most vibrant ecosystems in the space. 
Based on analytics from Santiment (a data tracking tool), the protocol leads the entire space concerning development activity in June. 

Projects such as Kusama and Polkadot trail the Cardano, which has also been dubbed as the potential Ethereum Killer. Despite naysayers such as [Bill Gates](https://www.monitalks.io/news/article/bill-gates-crypto) and Warren Buffet’s opposition to Bitcoin, many analysts believe the Cardano crash will not last long. Digital Coin Price forecasts ADA to reach an average price of $0.58, a minimum price of $0.54, and a maximum price of $0.62 by the end of 2022. 


 Cardano Vasil hardfork countdown begins

## Why the [Cardano](https://cardano.org/) update milestone has been pushed back

According to Cardano co-founder Charles Hoskinson, the Vasil update will significantly increase Cardano's performance and smart contract capabilities. It was due to be completed by June 29, but the most recent estimate puts its release date in the last week of July. The developers added that a "few remaining issues" were required to certify that everything was "functioning as intended" and that they would "need a few more days" to accomplish this. 


## What the Vasil fork entails 

The Vasil hard fork will increase the Cardano update chain's speed and scalability. It will include new technologies, most notably diffusion pipelining, enabling more efficient block propagation, resulting in larger blocks, and various Cardano update Improvement Proposals to enhance data storage and access. The overall effect is more significant despite minimal alterations to the underlying technique.


## What is the market's anticipated reaction to the Cardano update? 

Despite the platform's decision to postpone the rollout of the Vasil hard fork, intended for June 29, the markets were unaffected. The previous three trading sessions have been positive, resulting in a 15% gain in price. Today, the cryptocurrency appears to have resumed its last aggressive bullish surge, which is already up 2.5 per cent. The move also seems to have positive momentum, indicating a likely higher market close. 

Therefore, we expect the Cardano update price prediction to continue its bullish run on the back of the three previous trading sessions. There is a good chance that prices will rise to the $0.65 resistance level which will significantly depend on the present bullish trend's strength. Our analysis will be in vain if prices fall below the $0.44 support level. The bearish trend will have been established by that time.


More [blockchain news](/news/category/blockchain-news).




Cardano Update: developers delay Vasil hard fork by a month

[Cardano](https://cardano.org/) has been a promising investment based on historical price action. It is a blockchain-based project with more than 70% of the total currency, ADA, staked for network validation.

A reason that so much ADA is staked is the cryptocurrency's dearth of decentralised applications (dApps) open on its blockchain.

The Cardano project was initiated in 2015 to unravel some of the issues that [Ethereum](/coins/eth) encountered from its Proof-of-Work consensus model. Cardano was officially launched by Charles Hoskinson, a co-founder of Ethereum.

Notable Cardano key advancements are multiple processing layers for settlements and computations, Proof of Stake consensus, and the flexibility to update its network efficiently in the future.

The Cardano settlement layer was founded in 2017 and raised around $63 million via the ADA ICO. The settlement layer excludes smart agreements, so Cardano can only be used to resolve peer-to-peer payments right now. The ever-growing team of designers has been working hard and preparing to launch smart agreements on the Cardano Computation Layer.

## Cardano Development

Cardano presently has between 100 and 150 developers working on the project and drives around 700 commits every week. These aspects advance the cryptocurrency as one of the most significantly-developed projects in the blockchain sector today.

## Cardano Smart Contracts

A common critique of Cardano is its non-existent DeFi ecosystem. Since the launch of smart contracts on September 12, 2021, investors have expected to see an ecosystem be built-out soon. However, Cardano's smart contract update didn't work efficiently. The ADA price went down after applications were incapable of working on the new software.

Coming to 2022, Cardano developers are planning to enhance smart contract execution and scalability through new release deployments. As per Cardano's communication supervisor, there will be three primary code drops this year. The first one launched in February, and the following two are scheduled for June and October. Cardano smart contracts will operate on the Cardano computation layer, which will back legacy Solidity contracts and its language, Plutus.

## Cardano Partnerships

Cardano has already established outstanding partnerships with universities, governments, and enterprises. Hoskinson has worked hard to see Cardano's potential come to fruition in Africa, where he considers blockchain can bring a massive impact.

New Balance also has programs to use Cardano's network to track its progress.

## Is Cardano a Promising Investment?

Cardano is a promising application in the blockchain space today, with solid fundamentals and highly driven momentum behind the project.

Cardano has a solid technical base and outstanding developers with impressive plans. It could be a win-win situation for crypto investors to have this crypto coin in their portfolio.
Remember, this is just my opinion and not financial advice. Crypto investments are innately risky, and you should not invest any money you are not willing to lose.


Is Cardano a Good Investment?

COTI crypto (“currency of the Internet”), a Layer-1 platform that operates on the Proof-of-Trust (PoT) consensus, has recently turned bullish and left everybody asking – for how long?

As the first enterprise-grade blockchain platform for payments, COTI integrates a so-called directed acyclic graph (DAG) data structure with the demands linked with traditional finance, such as fees, latency, and so on. A DAG is a data structure that enables more efficient and scalable transactions. 

Here, each transaction is confirmed by two previous transactions. It makes a more efficient, transparent, and, therefore, safer network of trust than a traditional blockchain.

## Why is COTI trending?

According to [CoinMarketCap](https://coinmarketcap.com/), COTI crypto is currently trading at $0.19 with a volume of $22,185,025 over a day. However, not long ago, COTI recorded a price of $0.33 and analytics claimed this was only the beginning. During the last month, COTI crypto has witnessed both plunges and jumps, demonstrating the token's volatility. There are good reasons to watch this cryptocurrency.

The first one includes expecting the forthcoming MultiDAG 2.0-layer launch. This will enable the COTI protocol to develop the new tokens on top of its Trustchain. This will also ensure that the COTI mainnet creates a governance token for COTI’s treasury. This new token will act as one more enterprise-driven token built on its Trustchain.

Another reason for its rally is its announced partnership with Cardano’s first NFT Gaming platform dubbed Revelar.

This cooperation includes Revelar implementing COTI stablecoin Djed to ensure a more secure and balanced way to buy and sell NFT game assets on the Revelar platform. Moreover, the Djed stablecoin will ensure the COTI’s presence in new tokenomic models.

Revalar’s integration with Djed is only a part of a bigger plan to create new NFT payment options, such as fiat-backed payment integrations to Cardano.

Shahaf Bar-Geffen, CEO of COTI, said that “by integrating Djed to their platform, Revlar is giving their developers and gamers more stable payment options".

## COTI price performance

COTI crypto's uniqueness lies in the fact that it consistently pays for all the features and makes sure both buyers and sellers are protected within a stable framework. This allows COTI to save time and increase processing speed.

According to CoinMarketCap, COTI crypto rose by 1.77% at the time of writing, with a live market cap of US$199,294,662 and 1,05B COTI coins in circulation.

As we already mentioned, COTI operates a cross-chain bridge and, through reproducing, the bridge constantly processes delayed transactions involving ERC-20 and COTI native tokens.

COTI crypto has been trading almost at a similar price as the ERC-20 version. Both tokens were listed on some of the biggest exchanges, such as Crypto.com, Celsius, Huobi, 1inch, and Coinbase. This also triggered the price surge.

Analysts say that the community built around COTI and Cardano also boosted trading volumes, seeing an almost twentyfold rise since last June.

With these metrics in mind, the conclusion stands that the COTI crypto race won’t be coming to its end anytime soon.

More [Business & Markets news](/news/category/crypto-business-news).


COTI Crypto: Bullish Trend Coming?

Making an ADA coin pricde prediction is tough right now. [Cardano's coin price](/news/article/ada-news-crypto) fell 11% to $0.66 on Monday, 9 May, 2022, meaning it has dropped 35% in the past month. This was despite having a strong run in March, with prices reaching as high as $1.21. 

There are several reasons attributed to the change in fortunes from April. Notable is the re-emergence of Covid-related lockdowns in China, with authorities in China placing an international travel ban on Chinese citizens, preventing them from travelling for non-essential reasons. Shanghai, the financial hub of China, has been on lockdown since the end of March, with many people forced to stay at home without access to food, medicine, and other vital supplies. More than 30 cities across China are now under full or partial lockdown, affecting 220 million people. Travel has further been discouraged by a reduction in the issuance of travel documents which has fallen 6% since 2019. Passport renewals for non-essential travel also stopped in February.  

Many people that invest in cryptocurrencies believe that it is the latest version of gold, especially Bitcoin. However, while gold prices have risen 3% in 2022, with the S&P falling by 16%, the same cannot be said for Bitcoin. It fell as low as $25,402, matching its 52-week low. This resulted from a mass sell-off due to the instability of TerraUSD (UST), which failed to hold its 1-to-1 peg with the US dollar and fell as low as $0.45. In turn, the downward selling pressure in the stock market has been due to high US inflation and the aggressive countermeasures of the Fed, with CPI rising by 8.3% in a year and inflation being at its highest since 1981. 

Earlier in the month, the Fed had raised interest points by 50 bps to a target range of 75% and 1%, with the Fed Chair announcing a further 50 bps is on the cards over the next two FOMC meetings. They will also begin allowing $30 billion in US Treasuries and $17.5 billion in mortgage-backed securities to come off its balance sheet starting in June. Russia’s invasion of Ukraine in February also sparked a mass sell-off in the stock market, which in turn affected cryptos.  

Recently, specifically related to Cardano, there was an increase in its Block size on the main net to improve the transaction performance of the dApps. However, this did not seem to affect the price.  

## Number of ADA Holders Increasing

According to crypto experts, more than 500 projects are currently built on the Cardano blockchain. The token distribution is almost 90% retail, with this number likely to increase. With the number of long-term Cardano (ADA) holders growing by 32% in February, Dr. Shweta, the owner of KIBC1 and 2, further predicts that the coin value of ADA could increase by another 25% as crypto investors stock up on their Cardano holdings.  

An Analyst from Capital.com warned that Cardano investments should be taken with caution. Cryptocurrencies are currently less used as a hedging instrument, and a favourable market for cryptocurrencies, including Cardano, can only occur when the economic and geopolitical situation in the world starts to improve. This, alongside the fact that it is very volatile, makes it hard to predict future performance.  

The current prices are, from a technical point of view, a good opportunity to buy cheap. However, it is on a bearish run in the short term. Only three indicators give bullish signals and 28 bearish as of the week commencing 9 May.  

## ADA Price Prediction

Wallet investor believes that ADA coin price prediction will reach $1.52 in a year and $4.6 by May 2027. Digital Coin Price also believes that the price will rise as high as $0.86 in 2022, $0.97 by 2023, $1.28 in 2025 and $3.06 in 2030. However, Price Predictions ADA price is the most optimistic, with the average price expected to hit $1.15 in 2022, $1.62 in 2023, $3.56 in 2025, $21.35 in 2030, and $32.25 in 2031.  

Since its release, ADA has had an ROI of 2,967%, according to [CoinMarketCAP](https://coinmarketcap.com/). From a historical point of view, ADA crypto price traded in a sideways range until around November 2017, when the price rose from $0.029 on 20 November to $0.119 on 28 November, representing a 310% increase. ADA coin price continued to rise and closed 2017 at $0.719. By 4 January 2018, the crypto's price had reached $1.11, but due to its volatile nature, it declined by 97% to close the year at $0.041. It remained under $1 in the years 2019 and 2020, respectively. ADA regained momentum in 2021, went as high as $1.48 on 15 April, and reached $2.30 on 16 May. It fell to $1.98 on 21 September and fell again to $1.21 on 10 December. It closed the year at $1.31.  

## SundaeSwap Cardano Protocol Launches

Cardano has continued in its volatile nature in 2022, firstly by reaching $1.63 on 18 January following the launch of [SundaeSwap](https://www.sundaeswap.finance/). SundaeSwap is an automated market maker decentralised exchange which runs on Cardano and allows users to trade, stake, and lend tokens on the platform. Fees are low and liquidity providers can earn a return on their deposits. Following this launch, it declined to $0.75, as did the entire stock and cryptocurrency market following Russia’s invasion of Ukraine. ADA is currently trading at 0.54 as at the time this article was written, with a market capitalisation of 18.5bn.  

Therefore, to conclude, even though the crypto price of ADA, like most cryptocurrencies and stocks now, seems to be on a bearish run, in the long term we expect it to resume its bullish run and continue to rise as it has done historically since its exception.


ADA Coin Price Prediction

Here's where we take a look at ADA news, crypto markets and how Cardano is doing.

Bitcoin has been in a significant uptrend for several months, but other cryptocurrencies are starting to catch up.

Cardano, for example, has seen a 5% price increase in the past 24 hours as ADA reaches $1.50 for the first time since 2018 and continues its bullish momentum.
The number of Cardano wallets has hit an all-time high.

Data from Glassnode shows that there are now more than 1.3 million active retail wallets on Cardano's network, the highest number ever recorded.
This is a significant milestone because it exceeds the previous record of 1.2 million sets at the peak of the 2017 bull cycle.

## ADA News Crypto: Number of active wallets

Also, [Cardano (ADA)](/news/article/ada-coin-price-prediction) reached a new all-time high in terms of the number of active wallets at the end of March. The retail interest in Cardano increased on the back of ADA’s price rally, which pushed above $1.30 for the first time.

According to data from IntotheBlock, ADA had as many as 315,000 active retail wallets at the end of March. This is a new all-time high for Cardano and represents a 15% increase over February.
The number of active retail wallets for ADA has been steadily growing since January 2021, which coincides with Cardano’s massive price rally and increased adoption by institutions.

On the institutional side, Grayscale added over 690,000 ADA to its asset base in March alone. This takes Grayscale’s ADA holdings to 2 million tokens or close to $3 billion.
The firm now holds over 2% of all outstanding ADA tokens, according to data from IntoTheBlock.

Cardano’s price also neared its record high after rallying to $1.30 on Binance earlier today. At the time of writing, ADA trades at $1,210 with a market cap of $38 billion.

## ADA News Crypto: The price of ADA

Cardano (ADA) is a relatively new cryptocurrency protocol. It was designed to be a blockchain-based platform that allows decentralized applications and smart contracts.
Cardano was envisioned as a third-generation blockchain, the successor of Litecoin and Ethereum. Cardano has a single native asset called ADA, used for all transactions on the network.
The ADA price has seen an impressive rally this year, fueled by the growing interest in decentralized finance (DeFi).

At press time, ADA is trading at nearly $1.25 — this marks an impressive 471% increase from its yearly low of $0.21 set in March 2020.

## Ada News Crypto: Cardano (ADA) Becomes one of the hottest cryptocurrency

Cardano (ADA) is currently one of the hottest cryptocurrencies on the market, following a strong rally in the past few days. According to data provided by crypto analytics platform SANbase, Cardano's retail wallets reached an all-time high, surpassing the previous ATH established in February 2020 by 30%.

The increased interest in Cardano comes as the network prepares to upgrade its Shelley mainnet with a new hard fork called Mary. The upgrade will add multi-asset support and native tokens to Cardano. The fork is scheduled for February 20th.

Cardano's gains have been part of a broader bull run that has seen BTC reach $50k for the first time last week. In recent weeks, most top coins have rallied significantly, such as WazirX's WRX token or Swipe's SXP coin.


Latest Moni

Latest ADA News

Read the latest ADA crypto news.