How Many ADA Does It Take to Become A Cardano Millionaire?

Yes, we’ve been in a bear market for almost 18 months. Yes, it’s annoying and we wish the bull would return. But you know what else has happened? People are consistently building positions in projects they love. Whether its DCA or buying the dips, some of you have much bigger positions in some projects than at the beginning of this bear market.

And one project with the most devoted fans is Cardano. If you’re a fan, and we know many of you are, then how much ADA would need to be a millionaire? Are you already there? I bet you are closer than you think. Let’s find out.

Cardano Historical Performance

Before I come to an exact number of ADA you need to become a millionaire, you and I need to understand where Cardano could go from here. So first, we first need to understand where it’s been.

Most of us are not whales holding hundreds of thousands of ADA. So this means we will need to see a big price move to become a Cardano millionaire. But it could happen. Today, Cardano is the #7 project with a market value of $14.1 billion. The total supply of ADA is 45 billion with a little more than 35 billion in circulation now.

The all-time high of ADA was $3.09 in September 2021 right before the bear market kicked in. The all-time low was 1.9 cents back in 2020. I’m pretty sure those days are long gone. So, the bear market low was 24.4 cents on December 29. We are already up a little more than 50% since then in a nice runup in 2023 so far to its price of 38 cents.

Cardano has some unique features I also like. They are one of the least hype-y projects. Their DJED stablecoin is definitely getting some hype. It was the first project in many months that people other than the Cardano community were discussing. In fact, one of the knocks on Cardano is they have great projects they don’t hype enough.

The community is also super-engaged and rabid fans. Almost 70% of all ADA in circulation is locked in staking. This is one of the highest % in crypto. And part of the non-hype thing is that Cardano is a project and community of builders. The only thing they care about is making the project work and practical for its users. Every ecosystem should be this way but sadly, most are not. But Cardano definitely is.

Do you think ADA will hit a new all-time high? Let us know in the comments below.

What Do the ADA Charts Say?

We asked our Technical Analysis team to look at Cardano and here’s what they had to say.

ADA is trading just below the resistance level of $0.419 and is likely to get rejected at this level for a pull back towards $0.346. However, if it breaks this resistance and manages to stay above this resistance level for a few days, we might start seeing a Resistance to Support flip and a move towards $0.521 and $0.751 is possible. Breaking $0.751 could lead to a move towards $0.975, $1.252, $1.625 and $1.972. Failure to break $0.419 could lead to a drop towards $0.346 and $0.298.”

So you see in the short term there is a chance for a 4x if we go up from here to the highest move in this chart at $1.97. That’s short term.

ADA chart

Source: TradingView
What About Long Term?

It’s all time high is $3.09. That was in September 2021 right before this bear market started. Do you think ADA can surpass that? At the rate they are adding new projects, I do.

So in the short term we have resistance points up to and including $1.97 and long term resistance at the all-time high of $3.09. Both of those would be nice gains of 4x and 7x from here.

How Much ADA We Must Collecto to get $1 Million?

So you’ve seen our bull arguments based on 

  • High staking %.
  • Dedication of its community.
  • Builder mentality.
  • And strong performance bouncing 50% off its bear market low.

So how much ADA does it really take to be a Cardano millionaire? If it gets back to a new all-time high over $3.09, then that would mean ~330,000 ADA for $1 million. And if it does a 2x from there to $6, then that’s 167,000 ADA that you need.

But I think Cardano could go higher than that especially in a bull market and as some of its better ecosystem projects like Indigo and COTI get more mature. I think $8-$10 is very much possible in the next bull cycle.

So let’s do the math. That would mean you need 100,000-125,000 ADA to net yourself $1 million. And in a big bull cycle, it could happen.

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