Cardano (ADA) is in the midst of a critical rebranding phase that could see the cryptocurrency’s price skyrocket in coming months.
Currently trading around $0.164 USD (1), it might initially seem a bit hopeful that the cryptocurrency could reach close to $10 in just 18 months. Yet some experts see the writing on the wall that could forecast a big future for the digital currency.
Aside from having a history as being one of the more stable, reliable cryptocurrencies, Cardano now offers investors a new version of its paper wallet. The newly upgraded technology operates in the form of a faster digital wallet called Daedelus, which is capable of synchronising instantly with the blockchain.
The digital wallet is intended to instil a high degree of confidence, which offer higher levels of protection against potential security threats, thanks to encrypted privacy keys and spending passwords.
Users can also restore a lost wallet key if necessary, which is an uncommon feature in most other wallets. It’s expected that, as more users develop trust with ADA and the Daedelus wallet, the level of investment in the cryptocurrency should also increase accordingly.
Of course, in order to reach a price of $10 by 2020, Cardano also needs to come good with a number of its planned developments in coming months. The company currently has plans to develop a level of support for Bitcoin and Ethereum Classic, as well as integrating a mobile wallet for iOS and Android users.
There are also discussions about Cardano entering a new strategic partnership with Metaps Plus, one of South Korea’s biggest mobile companies.
Combining the cryptocurrency’s history of relative stability with its big plans for the future growth and expansion could actually see the value of ADA hit the $10 mark in a year or two. It will be interesting to see how developments unfold in coming months.