Cardano’s (ADA) end of year price prediction has been downgraded from $2.79 to just $0.63 by Finder.com’s panel of fintech specialists.
The medium and longer term predictions are more bullish at $2.93 for the end of 2025 and $6.54 for the end of 2030 but are still significantly below forecasts made by the panel in January of this year.
University of Brighton senior lecturer Paul Levy thinks ADA will be worth $0.5 at the end of the year and $5 by the end of 2025.
“As a native token of a proof-of-stake blockchain with some firm inventor foundations, there is still a lot of potential in Cardano to challenge and even overtake Ethereum. Proof of stake is likely the future of most if not all crypto in the future. Cardano, despite current volatility, is well placed,” he said.
CoinFlip founder and chairman Daniel Polotsky thinks ADA will be worth just $0.37 at year’s end and is part of the 48% who thinks it’s time to sell the token despite it being a popular layer one blockchain.
“…its price and hype are way too high given its relatively low total value locked compared to its competitors. The project was founded in 2015 and released in 2017, yet it has squandered that early-mover advantage to competitors who have recruited developers and built at a faster pace.”
Meanwhile 26% of the panel think it’s time to hold and another 26%, including PLAYN founder Matt Lobel think it’s a good time to buy ADA. He thinks it will hit $1.50 in December thanks to its “strong adoption, expanding features and a careful management team that is taking a quality first approach”.
Half the panel (51%) think the vasil hard fork update will increase Cardano’s utility with 37% expecting this to lead to an increase in ADA’s price.
However 17% think this will only be a short term increase while one in five panellists (20%) think it will result in a long term price increase.
Swinburne University of Technology director Dr Dimitrios Salampasis thinks the Vasil Hard Fork will bring efficiency and optimization since more data will be able to fit into each smart contract transaction.
“This is expected to improve speed of transactions and settlements and reduce transaction fees (compared to high gas fees in Ethereum). Moreover, I believe that the Vasil Hard Fork will increase the utility value and boost more innovative projects utilizing smart contracts.”
Meanwhile 17% think the fork will actually lead to a price decrease. Cloudtech group COO, Kevin He, thinks the vasil hard fork will lead to a short term price decrease based on observations of the price of other tokens after a fork.
“…we will find that after the hard fork, the price of both the original token will rise before the fork and both old and new token price will fall after the fork is completed. This is because when people get the free token, they tend to dump it straight away.”
He is also part of a 17% minority who think Cardano’s competitive advantage gained by the Vasil Hard Fork will be defunct once Ethereum’s ‘sharding’ happens.
“Cardano’s advantage of fast transactions will no longer exist after the launch of ETH 2.0. And due to the efficiency problem of the development team causing Cardano to significantly lag behind other competitors in smart contracts and dapp compatibility, coupled with the bear market blow we are not optimistic about the value of Cardano in the future.”
Over a third of panellists (37%) disagree with He’s assessment while the remaining panellists are unsure if Cardano will retain its competitive edge (46%).
You can view the full report here.