The global crypto market has surged by 1.22% over the last 24hrs and is now trading at $977 billion. However, it still has not recaptured its $1 trillion global crypto market cap.
Bitcoin is struggling to reclaim the $22,000 level, and other cryptocurrencies like Ethereum, XRP, and Cardano are also facing a negative impact.
Since 2022, the eighth largest cryptocurrency by market cap, Cardano has been fluttering in reaction to the market sentiment, investors and traders to assess ADA to know the best entry price.
According to the CoinMarketCap community, by August 31, 2022, Cardano’s (ADA) price will likely hit a price range of $0.7311. This prediction comes after considering the Price Estimate indicator that helps traders know the currency’s future price.
This has attracted the community votes- 14,192 in total, which says that the value of proof-of-stake (PoS) currency will see a leg up by 56.20% or $0.263 by August this year.
At the time of writing, Cardano is changing hands at $0.4649, with a fall of 0.42% over the last 24hrs.
Bullish Stance By Community On Cardano Price
However, the community also forecasts Cardano’s (ADA) price for September to hit the low range of $0.7078, an idea that received 8,965 votes.
Cardano (ADA) started 2022 on a bearish note, trading on a declining price graph after the currency dropped from its year high of $1.60 in January.
Moreover, another indicator, a deep learning algorithm, predicts Cardano to uptrend towards $2.63 by the end of this month.
Vasil Hard Fork To Push Cardano Price?
Amidst the negativity hovering over Cardano, the network’s developer Input Output (IOHK) has unveiled a hard fork of the testnet called Vasil hard fork.
This testnet could be crucial for the mainnet upgrade. While the network is looking into final preparations, the success rate of the hard fork will definitely affect Cardano’s (ADA) price.