As the crypto market continues is surge above the $2 trillion mark, major cryptocurrencies have been trading in the green as well, with Cardano (ADA) among the digital assets recording a 5.86% increase over the past seven days.
Indeed, the price of ADA is expected to reach an average of $1.49 by the end of April, according to the latest predictions of the crypto community at CoinMarketCap, retrieved by Finbold on March 31.
In particular, the crypto community’s social Cardano price forecasts indicate a median price of $1.35 on April 30, 2022, which is a $0.14 or 11.28% increase from the current ADA price of $1.21.
At the time of publication, 36,944 individuals have voted to arrive at an estimate of the median price. That said, the price is expected to fall after this month with $1.27 predicted for May and $1.17 for June.
Increase in Cardano on-chain transactions and wallets
Apart from price and price estimations, Cardano is measuring the growth on other fronts as well.
It’s worth noting that the network has experienced greater institutional demand in 2022, demonstrated by the fifty-fold surge in the amount of on-chain transactions beyond $100,000.
On top of that, Finbold has earlier reported on almost 5,000 new Cardano wallets added daily over the course of February – one month after the number of wallets had hit the 3-million milestone.
Cardano price analysis, further predictions
Currently, the price of the eighth-largest cryptocurrency by market cap is $1.21, recording a 2.11% increase over the last 24 hours and 5.86% from the previous seven days, according to CoinMarketCap data, as investors continue purchasing Cardano.
Based on the predictions of a group of crypto experts, the price of ADA could end the year at $2.72 and even reach as high as $8 by the end of 2025.
That said, the Cardano price prediction for 2022 may be of greater help in determining whether or not the cryptocurrency will be able to actually reach that value.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.