The price of Cardano’s token, $ADA, is expected to trade at $2.9 by September this year to an Al-based price prediction model, marking a 53% increase from the cryptocurrency’s current price.
The open-source machine learning framework used by Neural Prophet PyTorch- based price prediction algorithm predicts that Cardano’s price could rise to $2.9 by September before closing the year around $1.11.
It’s important to note that the $1.11 price point still represents a 140% increase over ADA’s current $0.46 pricing.
The first price prediction model published by Finbold combines 2017 and Al data to identify areas where the price of cryptocurrencies has increased. From February 2021 to May 2022, when the Terra ecosystem failed, and the cryptocurrency market entered a bear market, the mod made fairly accurate predictions.
In contrast, ADA will trade at $0.78 at the end of August and $0.457 at the end of the year, according to forecasts in the crypto community. The network’s upcoming Vasil hard fork is most likely the cause of the community’s short-term optimism.
The development activity of the Cardano network, measured by the “number of GitHub events generated by the project organization,” has outstripped other major cryptocurrencies such as Ethereum and Solana.