Cardano is trailing the bullish momentum of the altcoin markets. While Ethereum (ETH), Solana (SOL), and XRP trend to the upside in the last 24 hours, ADA’s price continues to move sideways.
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At the time of writing, ADA’s price trades at $0.44 with barely 0.5% profit in the last day.
Cardano’s price is expected to rise from current levels, according to a survey done by Finder and 53 industry professionals. The participants claim ADA’s price is set to end 2022 at around $0.60 with bullish expectations for the long term.
ADA’s value could reach $3 by 2025 and $7 by 2030. Although the experts are bullish on ADA, this price target represents a far slower increase than the one predicted by Finder’s January survey.
Participants expected Cardano’s price to reach $2.79 by the end of the survey and $58 by 2030. The expert believes Cardano developers have failed to meet market expectations regarding this network’s ecosystem and development.
Based on real world use cases, Expert Iwa Salami, co-director of the Centre of FinTech University of East London, stated the following about Cardano.
The Cardano Blockchain’s relevance, especially in its efforts to promote financial inclusion within developing countries, I believe, is extremely significant. It is also likely to increase its long-term usage and have a positive effect on the price for ADA.
Are You Buying Cardano Now (ADA)
Experts expect Cardano will see bullish momentum in the near term due to the Vasil Hardfork Combinator(HFC) event. Additional 20% of experts believe that the cryptocurrency’s positive effect on price will continue to be felt long-term.
These experts are not all bearish, but a significant portion of them believe they can predict the effect of future events on prices. Vasil Update was intended to give the network better performance, throughput and decentralization. Bulls might lack enough momentum to move above current levels, at least temporarily.
Ben Ritchie, another one of Finder’s survey participants and managing director at Digital Capital Management, is unsure about the potential impact of the upcoming upgrade. Ritchie seems more confident about the long-term benefits. Ritchie said that:
We believe that the Cardano network will provide benefits to developers and communities who are interested in low-fees and high-speed internet. The upgrade could be beneficial for the network’s future as it will allow more developers to build upon the Cardano network.
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An important majority of Finbder’s panel (51%) believe Vasil will make this network more useful and facilitate the expansion of its ecosystem. Below, 14% of experts think the contrary.
