Price Analysis

Cardano Price Analysis: Cardano (ADA) is Extending its Reach to New Market Spaces Like China and Japan

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  • IOHK, Cardano’s ecosystem partner, is in talks with Chinese universities to design a Haskell training course.
  • IOHK China team was invited to the International Fintech Innovation Conference in Sanya, to introduce Cardano to the Chinese.

ADA/USD 3 Month Price Chart – TradingView

ADA/USD 3 Month Price Chart - 6 June

ADA Coin Current Statistics:

  • On June 06, at UTC 08:04, the price of Cardano (ADA) was $0.081711.
  • ADA was trading around 0.00001063 BTC per chip.
  • On top of that, Cardano (ADA) is at 12th place in the cryptocurrency ranking.
  • Additionally, the market capitalization of the altcoin was $2,137,857,476.
  • With an ROI of 280.37%, the 24-hour trading volume in Cardano was 108,022,450 USD.
  • Moreover, the circulating supply of the coin is 25,927,070,538 ADA.

ADA Coin Comparison:

Let’s compare the price of Cardano with its 25-day’s back value. On May 12, Cardano (ADA) was trading at 0.071857 USD. From there it showed substantial growth, and today, the altcoin is trading with a hike of 13.07%. However, in weekly trading, Cardano is down by 14.5%, when compared to its price on May 30, which was $0.095576. But the trading in Cardano (ADA) has seen some stability since yesterday.  In an intraday trading for the previous day, the digital coin has strengthened by 0.000719 USD. Yesterday, Cardano opened the trading day at 0.082719 USD, while wrapped up around 0.083438 USD with a slight hike of 0.87%.

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Cardano Price Prediction:

Although the weekly chart shows a marginal decline, the coin has huge growth potential. Cardano (ADA) is impregnable crypto and has shown some stability in last 2-day trading. As, the cryptocurrency market is going through a correction and moreover, the whole space being volatile, some up-down is unprecedented. With that said, I would like to stick to my earlier prediction of the coin to trade around $0.1 to $0.3 by the end of the year.

Conclusion:

The market movement seems to be settling down, though, there are some rough patches to take care of. But for now, it is safe to stay away from short term trading. Cardano (ADA) team is looking for extending its market reach in China and Japan, so keep a close eye on the developments happening in the altcoin.

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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