Cardano (ADA) has experienced a significant increase of 23% in its price in the last 24 hours, attracting the attention of investors looking to take advantage of the ongoing market rally.
This impressive price surge in ADA has once again brought the token into focus as one of the best-performing altcoins on Thursday, July 13. Considering the recent market dynamics surrounding Cardano, a decentralized finance (DeFi) cryptocurrency, a prediction poll was conducted on July 14 on CoinMarketCap to gauge the sentiment of the crypto community.
Taking into account the voting patterns of the community over the past six months, with a historical accuracy rate of 86%, Cardano is expected to reach an average price of $0.3793. This prediction indicates a potential increase of $0.03183 (+9.16%) from the current price at the time of writing. The latest prediction for the end of June had an accuracy rate of 67.18%, while there were accuracy rates of 96%, 98%, and 95% for March, April, and May, respectively.
Currently, Cardano (ADA) is trading at $0.3477, experiencing a significant increase of 23.69% in the last 24 hours. ADA has witnessed 18 days of upward movement, accounting for 60% of the past 30 days, indicating a predominantly positive trend. Additionally, Cardano’s total market capitalization has seen a notable increase, surpassing $2 billion in just one day and currently standing at $12.1 billion. Meanwhile, the ADA 1-day technical analysis (TA) indicators on the financial and cryptocurrency monitoring platform, TradingView, show oscillators and moving averages (MA) in the “strong buy” zone at 3/12.
However, it is important to note that the classification of cryptocurrencies as securities is a complex legal issue that depends on various factors and regulatory interpretations. The classification of each cryptocurrency is evaluated based on its characteristics, underlying technology, and the nature of the token.