Price Analysis

Cardano Price Analysis: Cardano (ADA) Displays Bearish Trends; Released the Roadmap for The First Week of July

The Cardano Foundation released a proposed roadmap for the 1st week of July. The document includes their continuous effort for the rolling out of the latest update on the remaining operating systems like Windows and macOS. This will lead to new web content updates, as well. According to the foundation, the development team will continue to work on fixing bugs identified by the users and at the same time, work on upcoming functionality like network updates. In the meantime, the content team will work on updates for staking scenarios and explanations about block creation. The updates will be added directly to the GitHub repository.

Current Statistics of Cardano Coin (On June 28, at UTC 10:05):

Cardano Price Chart - 1 July
Cardano Price Chart
  • The current trading price of Cardano (ADA) is around 0.08444 USD.
  • At the same time, ADA price (BTC) is trading around 0.00000763 BTC per chip.
  • Currently placed at 10th place in the cryptocurrency market.
  • The market capitalization of the altcoin was 2,198,574,504 USD.
  • Additionally, the 24-hour trading volume of the altcoin is 165,529,506 USD.
  • With an ROI of 291.17%, the total Cardano chips circulating in the market are 25,927,070,538 ADA.

Cardano Price Comparison:

Let’s compare the current price of Cardano with that of 25-days back price. On June 06, Cardano (ADA) was trading around 0.0825569 USD. However, today, the coin has gone down by 2.24%. Similarly, in weekly trading, Cardano (ADA) has seen a dip of 13.59% from the market price of 0.09779 USD on June 25. Yesterday, too, was a bad day for the coin, where the coin opened at 0.090486 USD and with a decline of 9.27%, wrapped up the day around 0.082098 USD.

Cardano Price Prediction:

All the statistics are manifesting towards a bearish trend in the altcoin. However, the coin, at the time of writing, is trading in the green zone. As of now, we would stick to our earlier long-term prediction for the crypto to be trading around $0.3 to $0.5 by the end of the year.

Conclusion:

Cardano (ADA) has shown a significant dip, concerned with the trading volume and market capitalization. However, the Cardano Foundation is trying to strengthen the fundamentals of the coin. They are taking inputs from the community and making changes to their new update. In addition to that, they are making an effort to streamline and organize the roadmap for their future updates. As far as trends are concerned, it’s not the right time to trade in Cardano for the short-term.

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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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