Can Cardano reach $1 by June 30, 2022? Here’s what 24,000 crypto enthusiasts think

4 months ago
3 mins read

As the cryptocurrency market shyly begins to recover after a difficult bearish period, Cardano (ADA) is one of the digital assets that is following this example, at least in terms of its weekly improvements, leading some in the crypto community to be optimistic about its future price.

Indeed, the community at CoinMarketCap expects this crypto to trade at around $1 by the end of June, according to the latest predictions using the platform’s ‘Price Estimates’ tool that allows users to make crypto price predictions and see their average score.

Notably, the crypto community’s social Cardano price forecasts indicate an average price of $1.034 on June 30, 2022, which is a $0.423 or 69.23% increase from the current ADA price of $0.611. 

At the time of publication, 24,430 individuals have voted to arrive at the above estimate. The community expects the price by July 31 to rise slightly less than in June – to $0.9399, with 15,911 user votes predicting it.

Social Cardano price estimate for the end of June. Source: CoinMarketCap.com

Since the turn of the year, Cardano has been following a steady downward pattern, dropping from $1.33 on January 1, experiencing a short peak of $1.60 on January 18, before dropping below the $1.20 mark and further to the $0.6 level it struggles to stay above. 

Cardano YTD chart. Source: CoinMarketCap

Other Cardano advances

Meanwhile, Finbold reported that the price of Cardano had gained as much as 29% in just one day – on May 31. This made it the second-largest gainer among the top 100 cryptocurrencies for that day. 

Furthermore, the number of active Cardano pools continues to grow as well – reaching 2,988 on May 30 – intensified by the anticipation of the upcoming Vasil hardfork, which guarantees to grow the protocol and significantly increase its transaction throughput.

Other developments, as the hardfork looms on the horizon, include the average Cardano blockchain load remaining relatively high at an average of 64% measured during May, which means that around 64% of blocks were being utilized during this month.

Finally, as Finbold reported in the second half of May, the blockchain had been adding more than 2,000 new wallets per day over the month before, with the total number standing at 3,358,790 on May 31.

At the same time, the CEO of Input Output Hong Kong (IOHK) and the founder of Cardano has been active in the field of crypto regulation, discussing bill drafts and regulations with policymakers. 

During the time spent in Washington D.C. for these discussions, he expressed his opinions about the state of affairs through YouTube, stressing that his organization is focused on doing exclusively regulated business.

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Ana Nicenko

Ana Nicenko has a plethora of knowledge and experience as a journalist covering the cryptocurrency and blockchain industries, having written for a variety of projects and organizations. Additionally, Ana has a master's degree in English Language and Literature. At Finbold, she reports news on the digital assets sector.