It is expected that in 2024 the return on investment (ROI) in a crypto asset may exceed 400% in relation to current price (about $0.25). CoinCodex analysts are forecasting the future growth of ADA based on the historical movement of Cardano blockchain asset prices, coinciding at the moment with Bitcoin halving cycles.
Regarding the long-term forecast of ADA price movement, CoinCodex takes a more conservative position. Experts suggest that the cryptocurrency will not be able to stay above $1 and will trade well below the $0.80 level almost immediately after reaching its peak value. This is because the price of ADA has shown a steady downward trend over the past two years, which is expected to prevail for a long time. Therefore, CoinCodex analysts estimate the annual forecast for the minimum price of ADA for 2024 at $0.23.
On the afternoon of September 5, ADA traded at $0.256. The crypto asset showed a decrease within 0.1% per day and about 3.4% on the weekly timeframe.
Earlier, the founder of Cardano, Charles Hoskinson, said that the US Securities and Exchange Commission (SEC) would not prosecute his project, since the department’s actions are politically motivated and not related to securities laws.
Source: Bits
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