Analysts Believe Cardano Could Reach $2.9 By The End Of September
2022.07.08 13:30
Analysts Believe Cardano Could Reach $2.9 By The End Of September
- ADA is currently trading at $0.4776, but this is not enough to push the crypto over the $0.5 milestone.
- Some factors could help give ADA the necessary push, like the recent Vasil upgrade.
- ADA’s price could surge to $2.9 by the end of September before dropping again to $1.11 at the end of 2022.
Cardano (ADA) the 8th largest cryptocurrency in terms of market capitalization, has been seeing some signs of life over the last two weeks. Unfortunately, the same can not be said for the network’s native token, ADA.
According to CoinMarketCap, ADA is currently trading at $0.4776 after a 2.91% increase in price over the last 24 hours. The crypto is also up 6.16% over the last week. However, this is not enough to push the crypto over the $0.5 milestone.
Furthermore, some factors could help give ADA the necessary push. One of these factors is the fact that the long-awaited Vasil upgrade has successfully gone through the testnet.
ADA is also experiencing high activity from investors. Data from the blockchain analytics firm, Santiment, revealed that Cardano reported the highest level of daily developer activity on a week-to-week basis. In other words, Cardano is leading the way in terms of development compared to other cryptos.
Token development activity (Source: Santiment)
As mentioned above, all of these factors could give ADA a much-needed boost to pass the $1 mark. It is even expected that ADA’s price could surge to $2.9 by the end of September before dropping again to $1.11 at the end of 2022.
This $1.11 price point is worth taking note of as it could signal a 140% rise in price for ADA from its current point.
Statistically, all of this could lead to a beautiful rally for Cardano, but currently, ADA’s self-esteem seems still very low.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies
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