The first month of summer cannot be considered outstanding based on the green bars of the crypto asset price charts. At the end of June, the market capitalization of the entire digital asset market fell by more than 8%, or almost $200 billion.
What July has in store for cryptocurrency enthusiasts is impossible to predict. However, price history can give us some clues.
Alex DovbnyaFor example, for ADA, the native token of the Cardano blockchain, the price history presented by CryptoRank predicts growth rather than decline. For example, according to the data, the average return on investment in Cardano tokens in July is 9%, and the median is a slightly more modest but still positive 2.93%.
Historical trends have been on the side of Cardano (ADA) since 2018 itself. Back then, the ADA token recorded a gain of almost 3% in July. Moreover, and to date, ADA has only twice failed to close the second month of summer in the black.
Clearly, one cannot take anything for granted in the crypto space. However, price history can provide some guidance for such a chaotic market. With each passing month, the statistical sample for Cardano has become more extensive, meaning that predictions based on historical trends are closer to the truth.
Tomiwabold OlajideCurrently, the popular cryptocurrency is quoted at $0.4 per token. Let the bullish price history trends for ADA materialize, and maybe by the end of the month, we will see Cardano tokens at least at $0.44.
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team