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Following a crypto market surge coinciding with Russia’s currency crashing, Cardano (ADA) is now trading back in the green, up as much as 10% in the last week.
In particular, the price of ADA is expected to trade around $1.60 by the end of March, according to the latest predictions of the CoinMarketCap crypto community.
The ‘Price Estimates’ function on cryptocurrency data analytics platform CoinMarketCap enables users to make price forecasts for the next six months and learn what other people think about them in real-time.
Notably, the crypto community’s social Cardano price forecasts indicate a median price of $1.49 on March 31, 2022, which is a $0.52 (or 53.84%) increase from the current ADA price of $0.97.
Cardano price estimates. Source: CoinMarketCap
At the time of publication, 43,586 individuals have voted to arrive at an estimate of the median price. Whatsmore, the price is expected to fall after this month with $1.39, predicted for March, and $1.28 for May.
Cardano adding new wallets
Furthermore, Cardano continues to gain acceptance adding almost 5,000 new wallets daily in February; as the blockchain continues to expand, the number of wallets storing the network’s native currency.
Finbold announced that the total number of ADA wallets passed the 3 million milestone on February 3.
A detailed review of the 11 ways Cardano expects to scale in 2022 by Finbold found that the improvements have sparked increased interest from investors. For example, according to current research, Cardano is 47,000 times more energy-efficient than Bitcoin.
Currently, ADA is trading at $0.87, up 13.42% in the last 24 hours and down 14.6% across the previous seven days, according to CoinMarketCap data, as investors continue to buy Cardano.
Cardano 7-day price chart. Source: CoinMarketCap
Based on the predictions of a group of crypto professionals, the price of ADA is projected to finish the year at $2.72 and to reach as high as $8 by the end of 2025.
However, the Cardano price prediction for 2022 may assist you in determining whether or not the cryptocurrency will be able to achieve that price.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.