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Cardano Price Predictions: Can a Chainlink Partnership Take ADA to New Heights?

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Cardano price predictions are heating up as the network finishes its big summit wee...

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This story originally appeared on InvestorPlace

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

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This past weekend played host to the Cardano (CCC:ADA-USD) Summit 2021. The largely remote convention allowed Cardano buffs to reflect on the network’s rapid growth period — something that’s continuing well into Q4 — as well as to see the exciting new announcements coming from the company. One of those announcement’s is a partnership between the Cardano network and Chainlink (CCC:LINK-USD), which stands to vastly improve Cardano’s dApp development capabilities. As such, investors are seeking out Cardano price predictions to see how high the partnership can take the ADA coin.

Cardano (ADA) token with blue and orange digital background.
Source: Stanslavs / Shutterstock

The Cardano Summit 2021 puts a cap on a productive summer for Charles Hoskinson and company. The Cardano network rolled out its Alonzo Purple upgrade just weeks ago, allowing users to build smart contracts on the ecosystem. Of course, this opens up the door to things like dApps and non-fungible token (NFT) minting on the chain. All in all, it’s a crucial upgrade in terms of bringing Cardano to what is rapidly becoming the industry standard. It also gives vast improvements to the efficiency of the network in terms of things like transaction times.

At the summit, developers kept things rolling, especially regarding the network’s smart contract capabilities. One major way they’re doing that is through the network’s newly announced partnership with the Chainlink network.

Cardano Price Predictions Soar as Chainlink Partnership Comes Into the Fold

With Chainlink, users have even more capabilities when it comes to creating smart contracts and, thus, dApps, on the Cardano network. Chainlink offers many innovative tools for developers to choose from. And they’re often tools not offered anywhere else, like the company’s real-time data feeds. These feeds allow for the fastest on-chain delivery of asset valuations. Of course, this throws the doors wide open for different dApps based around lending, derivatives or token swapping, just to name a few.

An announcement of this magnitude is knocking investors’ socks off. Naturally, many are seeking out Cardano price predictions to see how the revelations will affect ADA’s long-term prospects. Indeed, with prices currently looming around the $2.17 mark — nearly a full dollar below its all-time high — there could be a big buyer opportunity here.

Let’s take a look at some ADA predictions to see what analysts are thinking:

  • WalletInvestor’s 12-month prediction suggests that ADA is due to shatter all-time highs over the next year. The site’s September 2022 prediction for the coin is $4.59.
  • CoinPriceForecast says ADA will rebound to $2.76 at the close of 2021. By the end of next year, that value can grow to $3.81.
  • The Economy Forecast Agency doesn’t seem to think Cardano will bounce upward to much over the next three months. The site’s year-end prediction for ADA is $2.21. By September of 2022, the outlet says ADA will be worth as much as $3.82.
  • Gov Capital’s September 2022 prediction for ADA places it at a value of $3.19.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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