- Investors are taking a look at Cardano (ADA) in an attempt to determine the best entry price.
- ADA is likely to trade at an average price of $0.88 by the end of July 2022.
- The price of Cardano will rise by an astounding 95.82% by the end of July from its current value.
After the extremely bearish nature of the cryptocurrency market over the last few weeks, investors are trying to look for some solid ground. At the moment, investors are taking a look at Cardano (ADA), which is the biggest Proof-of-Stake (PoS) asset, in an attempt to determine the best entry price.
The CoinMarketCap community in particular has been trying to figure this out and concluded that ADA is likely to trade at an average price of $0.88 by the end of July 2022. This is according to the ‘Price Estimates’ feature which enables users to forecast the future pricing of cryptocurrencies.
The CMC community also strongly believes that the price of Cardano will rise by an astounding 95.82% by the end of July from its current value.
Crypto community Cardano price prediction July 31 (Source: CoinMarketCap)
About 20,482 members of the crypto community voted to arrive at these conclusions.
By the end of August, 11,592 community members strongly believed that the ADA price might be slightly lower at $0.80.
According to CoinMarketCap, the price of ADA now sits at around $0.457. This is a 24-hour drop in the price of 2.47% and a weekly price drop of 1.72% – taking the market cap of the coin down to $15.42 billion.
Cardano is currently in the 8th position on CoinMarletCap’s list of the biggest cryptos in terms of market cap. This ranks ADA below Ripple (XRP) at 7th on the list with its market cap of $15.56 billion, and above Solana (SOL) at 9th with its market cap of $12.19 billion.