• Overview
      • Secure Digital Markets Inc (SDM) is a leading global digital asset trading, marketing making, and treasury management firm with an MSB license that provides boutique financial services to small medium and large capital management groups, payments and forex corporations and other financial institutions, governments and individuals. SDM was founded in 2017, is headquartered in Toronto and New York City with partners and representatives in financial centers around the world.

    • About Us
      • Secure Digital Markets is committed to providing cutting edge trading solutions to financial institutions and global liquidity to digital asset issuers with a mission of making blockchains and digital assets mainstream. SDM is a specialized digital asset trading firm within GDA Capital Corporation, a diversified capital markets firm with operations around the world.

    • Who we serve
      • Secure Digital Markets serves institutional clients across the blockchain industry including miners of bitcoin and alternative digital currencies, capital markets institutions, active traders, exchanges, BTM Networks, and high net worth individuals.

    • Products
      • Secure Digital Markets has a suite of financial products including SDM.live that provide us with off market liquidity at all times of bitcoin and alternative digital currencies.

    • People and Culture
      • We pride ourselves on our innovative corporate culture and passionate team members. Our organization is only as good as our people and we strive to consistently raise the bar by bringing the smartest group to the table.

    • Leadership
      • See the biographies of our firm’s board of directors and senior management.

    • Locations
      • Locate our offices around the world in Canada, the United States and globally.

    • Overview
      • We provide liquidity and market making strategies to digital asset issuers and large holders and boutique trading and treasury management strategies to individuals, hedge funds, family offices, private equity funds and other capital management firms. Learn more about our various businesses and find a solution that meets your personal or business needs.

    • Trading
      • Trading and liquidation services to help organizations issuing or holding digital assets with liquidity and boutique trading and investment strategies for individuals and capital management firms.

    • Treasury Management
      • Customized treasury management strategy to liquidate digital assets over set periods of time with specific return goals across global exchanges to ensure limited price movement and hedge long term exposure to any particular asset.

    • Digital Asset Custody
      • Customized custody solutions implementing secure institutional software infrastructure.

    • Cash Management
      • Cash management services for firms who transact to buy or sell digital assets using cash.

    • Overview
      • Our people share in our mission of advancing the digital asset and blockchain industry by providing access to global liquidity and market making strategies for digital asset issuers and boutique digital asset trading strategies for capital management firms and other financial institutions.

    • Our Founders
      • Our founders our pioneers in digital asset and blockchain trading.

    • Our Team
      • We commit people, capital and ideas to help our clients, shareholders and the communities we serve to grow.

    • Business Principles
      • Secure Digital Markets works with the highest ethicacy and always ensures that we ca can deliver for our clients. In addition to our trading and brokerage services, we look to add value in other ways by being a part of our network.

    • Overview
      • Secure Digital Markets analysts and traders share insights, market research and industry updates that are impacting the blockchain industry.

    • Corporate News
      • Recent milestones and progress from Secure Digital Markets and our subsidiaries

    • Market Insights
      • Digital asset trading, treasury management and liquidation tips for hedge funds, private equity firms, etc

    • Trading Information
    • FAQ
      • Commonly asked questions related to digital asset trading, capital management, treasury management, liquidity

  • Careers
  • Contact
  • Trade with SDM
cardano price analysis

Cardano Price Analysis

  • Cardano’s ADA coin had been on an upward trend throughout the summer, although not without volatility, and the price levelled off into the fall
  • The Cardano team has big plans, including a new CEO, and a move to data oracles to prepare for the Goguen era
  • Investor sentiment is generally bullish given Cardano’s strategic moves; the Cardano team seems to prioritize scalability, which bodes well for its future price

At the time of this writing, Cardano (ADA) is trading at ~$0.10 with a market capitalization of $3,258,367,664 USD. Cardano was trailing closely behind Bitcoin the last time we covered this third-generation cryptocurrency. Now, ADA is ranking #10 on CoinMarketCap.

Let’s look into how it got to that spot, and where it might go in the future.

Tracking Cardano’s Price

March 12, or Black Thursday, is a good place to start. Like its crypto cousins, ADA took a hit, dropping from ~$0.04 to ~$0.02. It struggled to climb back up for the next few weeks, reaching the $0.04 threshold at the end of April.

The summer was generous to the coin, its price climbing steadily throughout. May was a gradual process. ADA started at ~$0.05 and traded within that range. Then, a spike shot the coin up to ~$0.08 in the last week of May.

That spike likely made the price more volatile throughout June. There were some peaks and valleys, but the price typically traded within the ~$0.71 and ~$0.89 range, but not crossing the $0.90 until July.

The volatility continued throughout July, which quickly hit $0.90. By July 7, the price had reached ~$0.10, and it was trading at ~$0.12 just days later. The bears pushed it to ~$0.15 near the end of August. The price couldn’t be sustained at that price and dipped slightly; ADA’s bull run had ended.

August started with an enviable ~$0.14, but didn’t start to drop out of that range until the end of the month. September started with a price of ~$0.12 but mostly traded within the ~$0.09 range, hitting $0.10 a few times at the tailend of the month.

October and November have seen similar price action, with excitement reserved for the beginning and end of the months.

It is noteworthy that ADA’s market cap has typically been fairly consistent in relation to its price, but the line starts to diverge around mid-September. Even BTC’s price, always an important reference, starts to dip below ADA in August.

Another interesting point is the spike in ADA’s 24-hour trading volume. While its trading volume has crossed $1B dollars just a handful of times, it hit ~$627 billion on October 31 but sunk back down to its normal million dollar range.

Cardano Price Analysis – It’s Making Moves

New developments for Cardano, both on the tech and organization front, is likely influencing the price action.

For one, Cardano is moving on from the Shelley era, which focuses on decentralization. The Shelley testnet was first launched back in June of this year. The Cardano team is getting ready for the Goguen era, named after the American computer scientist, which aims to improve upon smart contracts.

In preparation, Cardano has been getting into data oracles, although they are taking a different approach from Chainlink.

Cardano also has a new CEO. Frederik Gregaard, who headed digital financial services at PwC, will likely bring a fresh perspective to the organization. He’s already noted that Cardano’s competition isn’t necessarily other cryptocurrencies or blockchain-based companies, but rather the tech platforms of Google, Amazon, Alibaba, among other players.

In other news, SingularityNet, a full-stack AI platform that enables anyone to build, monetize, and scale AI services, has been discussing a move from Ethereum to Cardano. The main reason being Ethereum’s high costs and slow speeds as a result of the DeFi demand. SingularityNet has already collaborated with IOHK, run by Cardano co-founder Charles Hoskinson.

Indeed, Ethereum’s gas prices skyrocketed to ~$50 back in September, likely because of the DeFi craze. And the network has been working to shift their consensus protocol to a Proof-of-Stake system, which aims to solve their congestion issues, although they missed their January 2020 release date.

An Australian developer has also volunteered to bring ADA coins to Shopify stores. Jeronimo Backes chose Cardano because he viewed the blockchain as enterprise-ready and scalable. Of course, Backe’s passion project needs to be approved by the wider Cardano community. If approved, he could receive a portion of the $200,000 Treasury fund.

One last noteworthy event that is likely influencing ADA’s price is the American election. Half of the voting population has called the election results fraudulent, resulting in tedious hand recounts in various battleground states.

Hoskinson noted that a Cardano-based solution could help make the voting process more secure. Although he also said that scalability would be a challenge.

Price Predictions

DigitalCoinPrice is bullish on Cardano’s future, forecasting a $0.33 price in January 2021. That’s a far cry from ADA’s current price, but not impossible. However, they also forecast the price to drop after January, with a December 2021 prediction of $0.26.

Previsioni Bitcoin forecasts staggering growth for ADA; $0.14 in January 2021 – which isn’t far from its 52-week high of $0.15 – and a bull run up to $0.88 in December 2021.

Back in July, Ryan Selkis, the co-founder of crypto news site Messari, tweeted a prediction calling for ADA to jump to the No. 5 ranking on CoinMarketCap. He has since deleted the tweet.

Another site, UsetheBitcoin.com has a very bullish call – $1 by the beginning of 2021. But it’s far from the most aggressive prediction. Prime XBT’s long-term prediction is $12 in 2025.

Cardano is playing the long-game. It’s a third-generation cryptocurrency that has the technology, partners, community, and leadership to weather any volatility. One could only hope for a $12 price one day. After all, that’s 14,000+% growth, but only time will tell.

Sign up for the Broker's Beat, our weekly email about digital asset trends shaping markets, industries and the global economy.

Do NOT follow this link or you will be banned from the site!