In particular, the CoinMarketCap community has estimated that the ADA token would trade at an average price of $0.88 by the end of July 31, 2022, according to the ‘Price Estimates’ feature, which allows users to speculate on the future pricing of cryptocurrencies.
The community projects the price of decentralized finance (DeFi) July 31ill rise by a whopping 95.82% by the 31st of July from its present value at the time of publishing.
At press time, 20,482 community members had voted to arrive at the average estimate. In terms of estimates for the end of the following month – August – the community expects the price to be slightly lower, at $0.80, with 11,592 user votes.
Cardano price analysis
Cardano has been on a consistent downward track since the beginning of the year, falling from as high as $1.60 in January. Although a few short-term increases have been recorded, overall, the trend remains negative.
As shown by charts and statistics, the current price of ADA is trading at $0.45, down 3.85% on the day and a further 8.13% across the previous week.
According to data provided by CoinMarketCap, the entire market capitalization of Cardano is now $15.2 billion.