As the massive popularity of text-based artificial intelligence (AI) platform ChatGPT testifies to the renewed public interest in the technology, its utility has been demonstrated in multiple areas, including providing insight into the future of assets in the cryptocurrency sector, such as Cardano (ADA).
With this in mind, Finbold asked the AI chatbot to share the possible price of Cardano by the year 2030 based on the network’s upgrades and development, the number of smart contracts and crypto wallets, community strength, and other factors.
Factors driving Cardano’s growth
Although ChatGPT acknowledged that it was difficult to predict the price of Cardano with certainty because of the various market factors and fluctuations, the AI tool did highlight several key elements that could potentially impact its price by 2030.
“Firstly, Cardano is known for its focus on research and development, and it has a strong development team working on implementing upgrades to its network. These upgrades, including the Alonzo hard fork, which introduced smart contract functionality, could potentially increase the demand for ADA as a utility token for decentralized applications and services.”
On top of that, ChatGPT stressed that the growing number of ADA wallets could signal an expanding user base and adoption, as well as that the strength of Cardano’s community and its partnerships with various institutions and organizations, which “could also play a role in its growth.”
ChatGPT says: $2 – $30
In terms of specific numbers, the AI tool said that some analysts and online sources had predicted a range of possible prices for ADA by 2030 based on the above factors, explaining that:
“According to some sources, ADA could potentially reach anywhere from $10 to $30 or more by 2030, based on its developments and increasing adoption. However, it’s important to keep in mind that these are only estimates, and the actual price of ADA in 2030 could vary significantly based on a variety of factors.”
On the other hand, the chatbot said that, in addition to the bullish expectations about Cardano’s future, there were also more conservative predictions that expect Cardano to trade in the $2 to $5 range by 2030.
Cardano price analysis
Meanwhile, Cardano was at press time changing hands at the price of $0.40, recording gains on multiple charts, including 3.15% on the day, 2.01% across the previous week, and 14.92% over the past month, according to the data retrieved on February 16.
All things considered, Cardano could indeed reach the price range provided by ChatGPT, but its progress in this area would massively depend on the wider crypto and macroeconomic climate, further successful evolution of its ecosystem, and other relevant developments.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.