Cardano, the cryptocurrency that drew inspiration from the Italian polymath Gerolamo Cardano, has been making waves in the crypto industry since its introduction in 2017. Charles Hoskinson founded the project, and it has experienced significant milestones, such as the Alonzo hard fork in August 2021, which led to a remarkable 116% surge in ADA’s price the following month.
Cardano successfully implemented the highly anticipated Vasil hard fork more recently, despite encountering some challenges along the way.
As of May, Cardano’s price dropped to $0.4565, and recent data indicates a 3.7% rise in ADA’s value over the past 24 hours. With the broader cryptocurrency market experiencing a negative trend, investors and enthusiasts are eager to know how high ADA can go in mid-May.
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Can ADA reclaim $0.5 in mid-May?
Various factors, including market conditions, price action, developments, supply, and use cases, will play a crucial role in determining whether ADA experiences a price change this mid-May. Cryptocurrency experts at Changelly have analyzed ADA’s performance earlier in 2024 to predict Cardano’s price during mid-May.
Their analysis predicts that ADA will trade with a minimum price of $0.420 and a maximum price of $0.477. Additionally, they predict that ADA will trade at an average price of $0.456. The analysis predicts that ADA won’t reclaim the $0.5 level by mid-May.
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As per the latest CoinGecko data, Cardano is currently trading at $0.4564. ADA has also spiked by 3.7% in value over the last 24 hours. The data also shows that Cardano has plunged by 24.5% in the last 30 days.
However, it is important to note that these predictions can greatly depend on the overall market conditions.