Cardano Price Analysis: Amidst the Bearish Market, The Altcoin is Extending its International Reach

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Recently, the Cardano Foundation has joined the International Association of Trusted Blockchain Applications (INATBA). The organization has five working groups which are responsible for shaping the legislation and commercial standards to provide stakeholder accountability. The Cardano Foundation, along with other members, provide developers and users of DLT an international forum to cooperate with policymakers and bring the blockchain technology to the next stage. The Foundation has joined the group working in the field of education, finance, identity, mobility, and privacy.

Current Statistics of Cardano Coin (On June 28, at UTC 08:35):

Cardano Price Chart - 28 June
Cardano Price Chart
  • The current trading price of Cardano (ADA) is around 0.08501 USD.
  • At the same time, ADA price (BTC) is around 0.00000752 BTC per chip.
  • Currently placed at 10th place in the cryptocurrency market, the MCap of the altcoin was 2,261,329,764 USD.
  • Additionally, the 24-hour trading volume in the altcoin was 211,507,732 USD.
  • With an ROI of 302.34%, the total Cardano chips circulating in the market were 25,927,070,538 ADA.

Cardano to USD Price Comparison:

Let’s compare the current price of Cardano with that of 25-day’s back price. On June 03, Cardano (ADA) was trading around 0.09424656 USD. However, today, the digital coin has gone down by 9.8%. Similarly, in weekly trading, Cardano has seen a dip of 5.54% from the market price of 0.090 USD on June 22. Yesterday, it seemed to be a dull day for the coin where it opened at 0.097757 USD and with a decline of 11.57%, wrapped the day up around 0.086449 USD.

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Cardano Price Prediction:

Amidst the bearish market trend, the value of Cardano has degraded substantially. But, the coin is expected to make a good bounce back. As per our prediction, the crypto will trade around $0.3 to $0.5 by the end of the year.

Conclusion:

There is a weird time in the crypto space, especially for Cardano. On the one hand, the value of the altcoin is degrading, but, at the same time, the market capitalization, as well as ranking, has shown growth.

Additionally, the international community has acknowledged the market position of Cardano, and it has been added in the INATBA association, as a policy framing member. As far as trends are concerned, there is a sense of instability in the short-term. However, the foundation is working on its fundamentals, and that will yield a good return in the long-term.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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