$ADA What Is Cardano (ADA)?

The Cardano network, founded in 2017, is a decentralized proof-of-stake (PoS) network similar to Ethereum. It seeks to sustainably enhance the security and scalability of the blockchain networks without compromising the environment. Energy-intensive networks like Bitcoin rely on a proof-of-work (PoW) consensus mechanism to maintain network functionality. However, PoW is energy-demanding, raising concerns at scale. Cardano’s PoS consensus, Ouroboros, has emerged as a leading alternative to PoW.

Touted as the first blockchain built on peer-reviewed research, Cardano seeks to be a decentralized app (dApp) homeland built to scale. ADA is the native token used in the Cardano ecosystem. ADA can be used as a store of value or investment and a peer-to-peer exchange, offering transaction fee payment and staking on the network by validators.

Cardano Price History and Market Position

Cardano, the 9th largest cryptocurrency by market capitalization, has increased over 63% since last year. Many altcoins like XRP, LINK and AVAX have seen similar corrections. Over the past seven days alone, ADA has increased by around 41%. As a leading application protocol among developers, Cardano is a strong adversary of Ethereum. As Cardano continues to refine and iterate its network, it could become increasingly valuable to developers, users and investors. In a bull case, many speculate that ADA can make a strong run; however, it is hard to know for sure.

Coin Edition’s Bullish Long-Term Price Prediction for Cardano

Coin Edition is a popular outlet among Web3 enthusiasts. Using a combination of technical indicators like relative strength index (RSI), Bollinger Bands and Volume Accumulation Percentage Indicator (VAPI), Coin Edition predicts ADA could hit $3.20 in 2025 and $2.491 in 2026. This represents around 445% and 324% increases from current levels. Coin Edition indicates that the recent BTC halving could incite a bull market where ADA and other altcoins can grow.